Nexus between Renewable Energy, Credit Gap Risk, Financial Development and R&D Expenditure: Panel ARDL Approach

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dc.authoridERSOY, ERSAN/0000-0003-4079-2834
dc.authoridunlu, ulas/0000-0003-3272-9341
dc.authoridCETENAK, EMIN HUSEYIN/0000-0003-2900-4948
dc.authoridKuloglu, Ayhan/0000-0003-0027-2893
dc.contributor.authorUnlu, Ulas
dc.contributor.authorYildirim, Furkan
dc.contributor.authorKuloglu, Ayhan
dc.contributor.authorErsoy, Ersan
dc.contributor.authorCetenak, Emin Huseyin
dc.date.accessioned2024-11-07T13:34:28Z
dc.date.available2024-11-07T13:34:28Z
dc.date.issued2022
dc.departmentNiğde Ömer Halisdemir Üniversitesi
dc.description.abstractIn the study, we investigate the relationships between renewable energy consumption sub-indicators of G-8 countries and financial development, credit gap risk, and R&D expenditure from 1996 to 2018. The relationships among the variables in the study are analyzed by employing the Panel ARDL method and the Dumitrescu-Hurlin panel causality test. The cointegration relationships between the variables have been analyzed using the bounds test approach, and an unrestricted error correction model has been established. Contrary to previous studies in the renewable energy literature, this study employed the variable of credit gap risk. Therefore, we believe that this study will fill the gap in the literature and attract the attention of researchers and policymakers. The results indicate that increases in total demand for renewable energy positively affect the financial development of countries. Moreover, R&D expenditures increase as the demand for hydro energy and solar energy increases. This result indicates that wind power consumption has a short-term impact on R&D expenditure, and such an impact ceases to exist in the long run. According to the empirical research findings, the rise in demand for renewable energy may be a factor mitigating the credit gap risk of countries. In other words, the credit gap risk, which is considered a leading indicator of systemic banking crises, can be mitigated by the rise in the demand for renewable energy.
dc.identifier.doi10.3390/su142316232
dc.identifier.issn2071-1050
dc.identifier.issue23
dc.identifier.scopus2-s2.0-85143835635
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.3390/su142316232
dc.identifier.urihttps://hdl.handle.net/11480/16003
dc.identifier.volume14
dc.identifier.wosWOS:000896470600001
dc.identifier.wosqualityQ2
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherMdpi
dc.relation.ispartofSustainability
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/openAccess
dc.snmzKA_20241106
dc.subjectrenewable energy
dc.subjectcredit gap risk
dc.subjectfinancial development index
dc.subjectR&D expenditure
dc.titleNexus between Renewable Energy, Credit Gap Risk, Financial Development and R&D Expenditure: Panel ARDL Approach
dc.typeArticle

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