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The Positive Influences of Renewable Energy Consumption on Financial Development and Economic Growth
SAGE Open ( IF 2.032 ) Pub Date : 2021-08-20 , DOI: 10.1177/21582440211040133
Li Zhe 1 , Serhat Yüksel 2 , Hasan Dinçer 2 , Shahriyar Mukhtarov 3, 4 , Mayis Azizov 3
Affiliation  

This study aims to evaluate the positive impacts of renewable energy usage on the economic growth and financial development. For this purpose, an evaluation has been performed with VAR analysis. In the analysis process, annual data for the period between 1990 and 2015 is used. The findings show that renewable energy usage and financial development do not have a powerful influence on the economic growth. However, it is identified that renewable energy usage has a positive impact on the financial development. Hence, it is strongly recommended that renewable energy usage should be encouraged by policy makers in the country. Nonetheless, to understand the main indicators of economic growth, many different factors should be taken into consideration. It is seen that owing to the use of environmentally friendly energy, the size of the financial sector increases. It is obvious that environment-friendly energy usage attracts the attention of the financial investors. In this context, it would be appropriate to give some incentives to renewable energy investors. Within this framework, issues such as tax reduction, location support, and low interest loan opportunities will make renewable energy investments more reasonable.



中文翻译:

可再生能源消费对金融发展和经济增长的积极影响

本研究旨在评估可再生能源使用对经济增长和金融发展的积极影响。为此,我们使用 VAR 分析进行了评估。在分析过程中,使用了 1990 年至 2015 年期间的年度数据。研究结果表明,可再生能源的使用和金融发展对经济增长没有强大的影响。然而,可再生能源的使用对金融发展具有积极影响。因此,强烈建议该国的政策制定者应鼓励使用可再生能源。尽管如此,要了解经济增长的主要指标,应考虑许多不同的因素。可以看出,由于使用了环保能源,金融部门规模扩大。显然,环保能源的使用吸引了金融投资者的关注。在这种情况下,向可再生能源投资者提供一些激励措施是合适的。在此框架内,减税、区位支持和低息贷款机会等问题将使可再生能源投资更加合理。

更新日期:2021-08-20
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