Renewable Energy, Output, CO2 Emissions, and Fossil Fuel Prices in Central America: Evidence From a Nonlinear Panel Smooth Transition Vector Error Correction Model
MetadataShow full item record
This study examines the determinants of renewable energy consumption per capita for a panel of seven Central American countries over the period 1980 to 2010. Specifically, we find that a long-run cointegrated relationship exists between renewable energy consumption per capita, real GDP per capita, carbon emissions per capita, real coal prices, and real oil prices with the respective coefficients positive and statistically significant. A structural break in the cointegrating relationship appears in 2002 which coincides with the establishment of the Energy and Environment Partnership with Central America initiative to expand the use of renewable energy sources. Recognizing the regime shift in 2002, we estimate a nonlinear panel smooth transition vector error correction model to show that for the post-2002 period, the influence of renewable energy consumption per capita uponreal coal and oil prices strengthened relative to the pre-2002 period as well as a greater sensitivity of real GDP per capita to carbon emissions per capita.
Showing items related by title, author, creator and subject.
The causal dynamics between renewable energy, real GDP, emissions and oil prices: evidence from OECD countriesApergis, Nicholas; Payne, J. (2014)This study extends the empirical literature on the determinants of renewable energy consumption in the case of 25 OECD countries for the period 1980–2011. Preliminary analysis suggests the presence of cross-sectional ...
Darbyshire, James (2010)In the past five years, global interest regarding the development of renewable energy technologies has significantly increased. The conventional electric power generation methods sourced from fossil fuels is now problematic, ...
Shezan, S.; Das, Narottam; Mahmudul, H. (2017)© 2017 The Authors. The immense percentages of people of the world are living mostly in the decentralized, rural and remote areas those are geographically secluded from the grid connection. Power distribution and continuous ...