The Relationship Between Renewable Energy Consumption And Economic Growth—A Comparison Between OECD Countries And China

At present,The Green and Low-Carbon Economy has become the direction of global economic development.While the fossil energy has pushing the global economy forward,but,which has been continue exhaust enormous greenhouse gases,causing the Global climate change.The Carbon dioxide emission rapidly increased in Chinese economy,caused by constant extensive growth of economic and irrational energy consumption structure.At this circumstances,China has made a promise to undertake cap carbon dioxide emission by 2030.Based on this background,China government wish to optimize energy consumption structure in order to achieve carbon emission reduction goal,that,discovery and explore the relationship between renewable energy consumption and economic growth has becoming especially important.This thesis researched the relationship between renewable energy consumption and economic growth,and chose OECD countries that more experienced than China in renewable energy development for comparison.Energy consumption was distinguished the into two different type of classes renewable and unrenewable,that both were considered as factors into Cobb-Douglas production function.Selected data which from 1994 to 2013,the empirical process is as follow.Firstly,though the panel unit root and panel cointegration test,it analyzed the renewable energy consumption and economic growth long-term nexus of OECD countries;established VEC model,follow by the of short-term dynamic analysis and causality test in long-term and short-term.Secondly,by using panel unit root,panel cointegration test and impulse response function based on VAR model,then causality test,to analyze the relationship of long-term and short-term between China renewable energy consumption and economic development.It's results are as follow.At last,some advices of China renewable energy industry development were given by the empirical results.