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Journals / İktisadi İdari ve Siyasal Araştırmalar Dergisi / 2025 / Cilt: 10 Sayı: 28

The Impact of Economic Policy Uncertainty and Foreign Direct Investments on Renewable Energy Consumption in G-7 Countries

G-7 Ülkelerinde Ekonomi Politika Belirsizliği ve Doğrudan Yabancı Yatırımlarının Yenilenebilir Enerji Tüketimi Üzerindeki Etkisi

Fatih Volkan Ayyıldız(ORDU ÜNİVERSİTESİ, ÜNYE İKTİSADİ VE İDARİ BİLİMLER FAKÜLTESİ)0000-0001-5991-3574
Pages
866–880
Publication Date
2025-10-31
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AI Summary & Key Takeaways

AI Insight
⚡ TL;DR(Too Long; Didn't Read)

According to the findings of Gengenbach, Urbain and Westerlund’s cointegration test, it was found that there was a cointegration relationship between the variables.

📌 3 Key Takeaways

🎯
Objective & Hypothesis:This study investigates the impact of economic policy uncertainty and foreign direct investments on renewable energy consumption in G-7 (The Group of Seven) countries using data for the period 2000-2023.
📊
Key Findings & Data:According to the findings of the Prais-Winsten regression analysis, a 1% increase in foreign direct investment increases renewable energy consumption by approximately 0.30%, at a statistically significant level.
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Conclusion & Impact:According to the findings of Gengenbach, Urbain and Westerlund’s cointegration test, it was found that there was a cointegration relationship between the variables.
🔬Design:Araştırma Makalesi
📍Scope:2000-2023 Verileri
⚙️Variables:Yenilenebilir enerji · ekonomi politikası belirsizliği · doğrudan yabancı yatırım

Abstract

This study investigates the impact of economic policy uncertainty and foreign direct investments on renewable energy consumption in G-7 (The Group of Seven) countries using data for the period 2000-2023. At the same time, another important purpose of the study is to investigate the multidirectional relationships of causality between the variables. Within the context of the goal, the relationships between variables are analyzed using Gengenbach, Urbain, and Westerlund, Prais-Winsten and Dumitrescu-Hurlin methods. This study fills the gap in the literature by differing from other studies on the subject in terms of the methods used. According to the findings of Gengenbach, Urbain and Westerlund’s cointegration test, it was found that there was a cointegration relationship between the variables. According to the findings of the Prais-Winsten regression analysis, a 1% increase in foreign direct investment increases renewable energy consumption by approximately 0.30%, at a statistically significant level. According to the findings of Dumitrescu and Hurlin panel causality analysis suggested for heterogeneous panel data, there is a bidirectional causality relationship between all variables. All the findings obtained from the analysis generally support the findings of similar studies in literature.

Özet

Bu çalışmada, 2000-2023 dönemi verileri kullanılarak G-7 (Yedili Grup) ülkelerinde ekonomi politika belirsizliği ve doğrudan yabancı yatırımlarının, yenilenebilir enerji tüketimi üzerindeki etkisi araştırılmaktadır. Aynı zamanda değişkenler arasındaki çok yönlü nedensellik ilişkilerinin araştırılması çalışmanın bir diğer önemli amacıdır. Bu amaç kapsamında, değişkenler arasındaki ilişkiler Gengenbach, Urbain ve Westerlund, Prais-Winsten ve Dumitrescu-Hurlin yöntemleri kullanılarak analiz edilmiştir. Bu çalışma, kullanılan yöntemler açısından konuyla ilgili diğer çalışmalardan farklılaşarak literatürdeki boşluğu doldurmaktadır. Gengenbach, Urbain ve Westerlund eşbütünleşme testi sonucunda değişkenler arasında eşbütünleşme ilişkisi olduğu bulunmuştur. Prais-Winsten regresyon analizinin bulgularına göre, doğrudan yabancı yatırımlardaki %1'lik bir artış, yenilenebilir enerji tüketimini istatistiksel olarak anlamlı bir düzeyde yaklaşık %0,30 oranında artırmaktadır. Heterojen yapıdaki panel veriler için önerilen Dumitrescu ve Hurlin panel nedensellik analizi bulgularına göre tüm değişkenler arasında çift yönlü nedensellik ilişkisi bulunmaktadır. Analizlerden elde edilen bulgular genel olarak literatürdeki benzer çalışmaların bulgularını desteklemektedir.

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Cite This Article

Ayyıldız, F. V. (2025). The Impact of Economic Policy Uncertainty and Foreign Direct Investments on Renewable Energy Consumption in G-7 Countries. İktisadi İdari ve Siyasal Araştırmalar Dergisi, Cilt: 10 Sayı: 28, 866–880. https://doi.org/10.25204/iktisad.1739234

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