Cari Denge Açısından Yenilenebilir Enerjinin Rolü: Avrupa Birliği Ülkeleri ve Türkiye İçin Panel Veri Analizi

Abstract

ABSTRACT The aim of this paper is to examine the effect of renewable energy consumption on the current account balance by panel data method. For this purpose, fixed and random effects models are estimated using data over the period from 1998 to 2015 for 27 countries of European Union and Turkey. These countries are mostly composed of countries with high energy dependency rate and current account deficit problem. According to the estimation results, increasing in the rate of renewable energy consumption has a positive and significant impact on current account balance. In addition, the empirical results indicate that energy dependency rate has a negative and significant impact on current account balance. These results imply that investments in renewable energy are an important alternative to solve the current account deficit for the European Union countries and Turkey.

Keywords

• Renewable Energy
• Current Account Deficit
• Panel Data Analysis