Renewable Energy, Output, Carbon Dioxide Emissions, and Oil Prices: Evidence from South America

This study utilizes panel cointegration techniques to estimate the long-run relationship as well as the causal dynamics between renewable energy consumption per capita, real gross domestic product (GDP) per capita, carbon dioxide emissions per capita, and real oil prices for a panel of 11 South Amer...

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Bibliographic Details
Published inEnergy sources. Part B, Economics, planning and policy Vol. 10; no. 3; pp. 281 - 287
Main Authors Apergis, N., Payne, J. E.
Format Journal Article
LanguageEnglish
Published Taylor & Francis 01.01.2015
Subjects
Carbon
Carbon dioxide
carbon dioxide emissions
Crude oil
Economics
Energy consumption
Estimates
oil prices
Panels
Renewable energy
South America
South America
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ISSN1556-7249
1556-7257
DOI10.1080/15567249.2013.853713

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Summary:This study utilizes panel cointegration techniques to estimate the long-run relationship as well as the causal dynamics between renewable energy consumption per capita, real gross domestic product (GDP) per capita, carbon dioxide emissions per capita, and real oil prices for a panel of 11 South American countries over the period 1980 to 2010. Specifically, we find the long-run elasticity estimates are positive and statistically significant with respect to real GDP per capita, carbon emissions per capita, and real oil prices. The results of the panel error correction model reveal a feedback relationship among the variables in question, indicative of the importance of renewable energy consumption in both the growth of output and the containment of carbon dioxide emissions.
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ISSN:1556-7249
1556-7257
DOI:10.1080/15567249.2013.853713