Is There Convergence in Renewable Energy Deployment? Evidence From a New Panel Unit Root Test With Smooth and Sharp Structural Breaks

dc.authorid Corakci, Aysegul/0000-0002-0684-4103
dc.authorid Omay, Tolga/0000-0003-0263-2258
dc.authorscopusid 56941641000
dc.authorscopusid 23978235900
dc.authorwosid Corakci, Aysegul/ABE-3469-2021
dc.contributor.author Corakci, Aysegul
dc.contributor.author Omay, Tolga
dc.contributor.other Economics
dc.date.accessioned 2024-07-05T15:26:40Z
dc.date.available 2024-07-05T15:26:40Z
dc.date.issued 2023
dc.department Atılım University en_US
dc.department-temp [Corakci, Aysegul] Cankaya Univ, Dept Econ, Ankara, Turkiye; [Omay, Tolga] Atilim Univ, Dept Econ, Ankara, Turkiye en_US
dc.description Corakci, Aysegul/0000-0002-0684-4103; Omay, Tolga/0000-0003-0263-2258 en_US
dc.description.abstract This study examines whether the contribution of renewable energy to the total primary energy supply converges in a panel of 24 OECD countries over the period 1960-2020. To this end, a new panel unit root test that allows for both sharp and smooth breaks is proposed to test for the stochastic convergence hypothesis. Although renewable energy convergence is not rejected when the newly proposed test is applied to the full panel of OECD countries, it found only moderate support within the members of the panel using a sequential panel selection methodology. In fact, in two high-income OECD countries, the contribution of renewable energy to the primary energy supply shows no sign of convergence: Poland and Iceland. Therefore, the renewable energy shares seem to be converging to a common steady state in only a group of OECD countries over the long run. This uneven pattern of convergence, in turn, suggests that the OECD countries are still far away from developing a common sustainable renewable energy target, calling for urgent international policy cooperation to encourage the divergent econo-mies to seek out the menu of policies that ensure the worldwide success of renewable energy transformation. en_US
dc.identifier.citationcount 3
dc.identifier.doi 10.1016/j.renene.2023.01.119
dc.identifier.endpage 662 en_US
dc.identifier.issn 0960-1481
dc.identifier.issn 1879-0682
dc.identifier.scopus 2-s2.0-85149068916
dc.identifier.startpage 648 en_US
dc.identifier.uri https://doi.org/10.1016/j.renene.2023.01.119
dc.identifier.uri https://hdl.handle.net/20.500.14411/2580
dc.identifier.volume 205 en_US
dc.identifier.wos WOS:000964009700001
dc.identifier.wosquality Q1
dc.institutionauthor Omay, Tolga
dc.language.iso en en_US
dc.publisher Pergamon-elsevier Science Ltd en_US
dc.relation.publicationcategory Makale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı en_US
dc.rights info:eu-repo/semantics/closedAccess en_US
dc.scopus.citedbyCount 9
dc.subject Renewable energy en_US
dc.subject Energy supply en_US
dc.subject Stochastic convergence en_US
dc.subject Panel unit root test with sharp and smooth breaks en_US
dc.title Is There Convergence in Renewable Energy Deployment? Evidence From a New Panel Unit Root Test With Smooth and Sharp Structural Breaks en_US
dc.type Article en_US
dc.wos.citedbyCount 8
dspace.entity.type Publication
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