Welfare gains from international trade and renewable energy demand: Evidence from the OECD countries

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Publication date
2022-08Keyword
Renewable energy demandRenewable energy consumption
International trade
Trade openness
International trade potential index
Panel data estimation techniques
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© 2022 The Authors. Published by Elsevier B.V. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).Peer-Reviewed
YesOpen Access status
openAccessAccepted for publication
16/06/2022
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Show full item recordAbstract
This paper uses a new measure of international trade, i.e. the international trade potential index, to measure the welfare gains from trade across countries. The measure is based on the import shares of countries in their gross domestic products. It is observed that gains from international trade are low in prosperous economies, but they are larger in poorer economies. Then, the paper investigates the impact of the index of international trade potential on renewable energy consumption in the unbalanced panel dataset of 36 Organisation for Economic Co-operation and Development member countries from 1966 to 2016. The novel evidence is that international trade potential is positively related to renewable energy consumption. It is also found that per capita income, per capita carbon dioxide emissions, and energy prices increase the demand for renewable energy.Version
Published versionCitation
Lu Z, Gozgor G, Mahalik MK et al (2022) Welfare gains from international trade and renewable energy demand: Evidence from the OECD countries. Energy Economics. 112: 106153.Link to Version of Record
https://doi.org/10.1016/j.eneco.2022.106153Type
Articleae974a485f413a2113503eed53cd6c53
https://doi.org/10.1016/j.eneco.2022.106153