THE EFFECTS OF RENEWABLE ENERGY GENERATION ON CO2 EMISSIONS: PANEL DATA ANALYSIS FOR BRICT AND MINT ECONOMIES

Abstract

In this study known as BRICT and MINT economies; Brazil, China, India Indonesia, Mexico, Nigeria, Russia, Turkey and South Africa, for renewable energy production, per capita real income, industrial capacity and trade variables and their impact on CO2 emissions, [1996-2014] period of the horizontal section, using annual data. The data were analyzed by using data analysis method. Stability of series; Horizontal cross-sectional dependence and common factors were taken into consideration by Hadri-Kurozumi (2012) test which is one of the second generation unit root tests. Westerlung-Edgerton (2007) LM bootstrap test was used to determine long-term regression coefficients after cointegration analysis. Common Correlated Effect (CCE) model method was used. As a result of the study; When the effects of renewable energy production, real income per capita, industrial volume and trade variables on CO2 emissions are examined, it is seen that renewable energy production and real income per capita negative industrial volume have positive statistically significant effects.