Renewable, non renewable energy consumption, economic growth, trade openness and ecological footprint: Evidence from organisation for economic Co operation and development countries
The purpose of this study is to examine the validity of Environmental Kuznets Curve hypothesis for ecological footprint with the role of renewable energy use, non renewable energy use and trade openness in 24 Organisation for Economic Co operation and Development countries. For this purpose, we investigate the period from 1980 to 2014 using with second generation panel data methodologies which allow to cross sectional dependence among countries. The group mean results show that the inverted U shaped Environmental Kuznets Curve hypothesis does not hold in Organisation for Economic Co operation and Development countries because we found the U shaped relationship between economic growth and ecological footprint. In addition, it is concluded that increasing renewable energy consumption reduces ecological footprint and increasing non renewable energy consumption increases environmental degradation.