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The relationship between economic growth (in terms of GDP) and renewable energy (RE) and nonrenewable energy (NRE) consumption was investigated in 20 countries featured on the Renewable Energy Country Attractiveness Index list, also known as the Paris Club. The effect of both RE and NRE consumption on economic growth is discussed in the growth model based on the neoclassical production function. Labor and capital, which are important dynamics of growth, are also considered in the model. Granger causality and panel vector autoregression analysis are performed for the period 1991–2016. The results show that neither RE nor NRE consumption has a positive effect on economic growth. In reality, a 1% increase in RE consumption will reduce the GDP growth by 0.14%. For the effect of GDP growth on energy types, if growth increases by 1%, NRE consumption increases by 5.54%. If economic growth increases by 1%, a reduction of 1.73% occurs in RE consumption. In contrast, a causal link between both types of energy to growth has not been determined. There is no statistically significant coefficient of NRE and capital factors on GDP. A mutually positive and statistically significant relationship was determined between labor and growth. According to the results of variance decomposition, the basic dynamic of growth is itself: over a ten-year period, growth was affected by itself by 98%. [ABSTRACT FROM AUTHOR]

This study aims to explore the relationship among economic growth, CO2 emissions, fossil fuels consumption, renewable energy consumption, foreign direct investments, and trade by taking into account countries with oil reserves (export groups) and countries without oil reserves (import group). The factors affecting CO2 emissions in countries with and without oil production have been investigated by using Panel VAR (PVAR) and Granger causality methods for the period of 1990–2015. In both country groups, growth positively affects CO2 emissions. While there is a negative relationship between CO2 emission and foreign direct investments in the oil importing country group, there is a positive relationship between CO2 and trade in the oil-exporting group. PVAR analysis results illustrate that the growth hypothesis is valid in both groups of countries. In addition, when both country group examined, the countries sacrifice their national income to reduce carbon emissions, which makes it difficult to reduce emissions in the world. According to the variance decomposition results, while the CO2 variable defines itself as 98% for oil importing countries, the second important variable that pollutes the air is GDP. In addition, the variables FDI, REN and FOSSIL affect air pollution by 4% over a 10-year period. [ABSTRACT FROM AUTHOR]