Renewable Energy Consumption and Economic Growth in Nine OECD Countries: Bounds Test Approach and Causality Analysis
Table 1
ADF unit root test results.
Country
Renewable energy consumption
Real GDP per capita
Level term
First differences
Level term
First differences
Denmark
−0.108 ()
−5.331 ()
−1.098 ()
−1.331 ()*
France
−1.432 ()
−6.509 ()
−0.132 ()
−3.887 ()
Germany
−1.880 ()
−8.009 ()
−2.145 ()
−7.542 ()
Italy
−1.431 ()
−3.114 ()
−1.221 ()
−7.009 ()
Japan
−1.527 ()
−4.772 ()
−1.551 ()
−5.760 ()
Portugal
−0.764 ()
−0.321 ()*
−1.423 ()
−1.654 ()*
Spain
−0.662 ()
−4.092 ()
−2.887 ()
−3.061 ()
UK
−3.632 ()
−5.521 ()
−2.901 ()
−4.321 ()
USA
−1.446 ()
−4.144 ()
−2.112 ()
−4.433 ()
Notes. First, all the regressions include an intercept and a linear trend in the levels and include an intercept in the first differences; second, numbers in parentheses are the optimal lag orders and selected based on Schwarz Bayesian; and finally represents the 10% significance level.
