The relationship between renewable energy and the economicgrowth

• Main Authors: Shao-chi Chou, 周少麒
• Other Authors: Yu-shan Wang
• Format: Others
• Language: zh-TW
• Published: 2012
• Online Access: http://ndltd.ncl.edu.tw/handle/51601780926207269352

碩士 === 國立高雄第一科技大學 === 金融研究所 === 100 === After the energy and oil crises, all countries know gradually over using the traditional energy which will destroy the environment and results in enhancing additional costs for the society. Therefore, the development and importance of renewable energy will be required by some essential factors affecting the economic growth in the future. Nonetheless, according to Barro in 1991 who said that the relative convergence will increase the economic growth by rising human capitals of countries, and these were also the most crucial factors in production elements given by Lucas in 1988.In addition, it can be seen that there is a positive effect between the economic growth and savings in the endogeus growth theory which illustrated by Romer and Lucas during the period from 1986 to 1988. By human capitals which is an essential factor when it calculates the genuine saving ratio, as can be predicted that it may enhance the renewable energy consumption through the relationship of this rate and the economic growth. Consequently, this research uses the approach of panel smooth threshold regression model to discuss the correlation between the economic growth and the renewable energy consumption when genuine saving ratios varied from 2001 to 2008. As a result, the outcome shows that it will produce a smoothly variation between the economic growth and the renewable energy consumption when the genuine saving ratio stands at 4.9% and the transform speed reaches 20.855. Also, when the genuine saving rate stands at below 4.9%, it will be an increase in renewable energy consumption as the positive influence occurs between that ratio and GDP per capita. This is similar to Hicks in 1937 and Hansen in 1949 who indicated that it would create a positive effect between savings and incomes. Similarly, it creates an identical outcome as endogeus growth theory. In contrast, when it reaches over 4.9%, there is only a small increase in this consumption. This is also similar to the golden rule of growth revealed by Phelps in 1961 concerning that it will reduce a small proportion of influence between the consumption and the economic growth, if a saving rate is over the most appropriate saving ratio.