Relationship to renewable energy and economic growth: Panel GMM analysis

Energy has become one of the basic needs of people to survive. In particular, the increase in technological developments has increased the need for energy every day. These needs have now rapidly reduced the existing energy reserves in nature. Rapidly growing population, evolving technology, growing industrialization and urbanization have increased the demand and importance of energy. However, the failure of existing resources to respond to this increase has led to the search for new resources. As a solution, renewable energy sources have also come up. With the need for energy and increased importance, its close relationship with technology has made energy the main dynamic of growth. In this study, the importance of edible energy sources in the world and for OECD countries where Turkey is a member will be examined in practical ways the location of renewable energy sources in growth. Data from the 15 OECD member states selected in the study between 2000 and 2017 were tested with the panel's GMM forecaster and concluded that in the long term, the relationship between these two variables was meaningful and positive.