Evaluation the role of renewable energy in the GRP dinamic in the USA

Svetlana V. Bekareva
1. Novosibirsk State University
s.bekareva@mail.ru
Larisa M. Melnikova
1. Institute of Economics and Industrial Engineering SB RAS, Novosibirsk, Russia
2. Novosibirsk State University
melnikova@ieie.nsc.ru
Abo Gsysa J. G.
1. Novosibirsk State University
jehad.abogsysa@gmail.com
The material was received by the Editorial Board: 12/02/2017
Abstract
The article is devoted to evaluation the influence of renewable energy consumption growth on regional product in the USA by state. Also we take into consideration the fact of electricity restructuring since the middle of 1990s for efficiency purposes. We attempted to assess influence of pro- cesses of the reform and changes in generating sector structure on the economic growth by the U.S.state. Methods of investigation used are cluster and panel data analyses. To make the analysis we used statistics for the period 2000 – 2014. Finally, we proved the significance of a share of renewables for the economic growth.

Keywords
renewables, electricity restructuring, economic growth



References
  1. Inglesi-Lotz R. The Impact of Renewable Energy Consumption to Economic Welfare: A Panel Data Application. University of Pretoria, 2013, Working Paper 2013-15, 15 p. 
  2. Isik C., Shahbaz M. Energy Consumption and Economic Growth: A Panel Data Approach to OECD Countries. International Journal of Energy Science, 2015, vol. 5, no. 1, р. 1–5. 
  3. Apergis N., Danuletiu D. C. Renewable Energy and Economic Growth: Evidence from the Sign or Panel Long-Run Causality. International Journal of Energy Economics and Policy, 2014, vol. 4, р. 578–587.
  4. Arouri M. E. H., Youssef A. B., M’Henni H., Rault Ch. Energy Use and Economic Growth in Africa: A Panel Grander-Causality Investigation. Economic Bulletin, 2014, vol. 34 (2), p. 1247– 1258. 
  5. Inglesi-Lotz R. The impact of renewable energy consumption to economic growth: A panel data application. Energy Economics, 2016, vol. 53, p. 58–63. 
  6. Bushnell J. B., Holland S. P., Hughes J. E., Knittel Ch. R. Strategic Policy Choice in StateLevel Regulation: The EPA’s Clean Power Plan. National Bureau of Economic Research, 2015, Working Paper 21259, 47 p. 
  7. Borenstein S., Bushnell J. The U.S. Electricity Industry after 20 Years of Restructuring. National Bureau of Economic Research, 2015, Working Paper 21113, 32 p. 
  8. Durkay J. State Renewable Portfolio Standards and Goals. National Conference of State Legislatures, 2016.  
  9. Beiter Ph. et al. Renewable Energy Data Book, U.S. Department of Energy. Energy Efficiency & Renewable Energy, November 2015, 130 p. 
  10. Booth L., Varouj A., Demirguk-Kunt A., Maksimovic V. Capital structures in developing countries. Journal of Finance, 2001, vol. 56, p. 87–130. 
  11. Arellano M., Bond S. Some tests of Specification for Panel Data: Monte Carlo evidence and an application to employment equations. The review of Economic Studies, 1991, vol. 58, p. 277– 297. 
  12. Blundell R. W., Bond S. R. Initial Conditions and Moment Restrictions in Dynamic Panel Data Models. Journal of Econometrics, 1998, vol. 87, p. 115–143. 
  13. Hovakimian A., Li G. In Search of Conclusive Evidence: How to Test for Adjustment to target capital structure. Journal of Corporate Finance, 2011, vol. 17, p. 33–44. 
  14. Lemmon M. L., Roberts M. R., Zender J. F. Back to the Beginning: persistence and the cross-section to corporate capital structure. The Journal of Finance, 2008, vol. 4, p. 1575–1608. 
References: Bekareva S.V., Meltenisova E.N., Abo Gsysa Jehad Giuma Evaluation the role of renewable energy in the GRP dinamic in the USA. World of Economics and Management. 2017, vol. 17, no. 2. P. 37–47. DOI: 10.25205/2542-0429-2017-17-2-37-47