Investigating the Relationship between Renewable Energy Production and Employment in Selected OECD and OPEC Countries

Document Type : Original Article

Authors

Department of Economics, Faculty of Economic and Political Sciences, Shahid Beheshti University, Tehran, Iran

10.22080/jeem.2024.26851.1005

Abstract

Abstract
Today, renewable energies are of great interest due to the reduction of greenhouse gas emissions and climate problems, less resource limitations compared to fossil energies, and also the important role they play in sustainable development and economic growth. The countries of the world have many and diverse capacities for the production of renewable energy, and due to the greater availability of these resources, the environmental benefits and the fact that it is less expensive than other fuels, they have sought to develop the production of this type of energy. Energy, as one of the factors of production, plays a role in the economic development and growth of countries. Therefore, due to the fact that macroeconomic indicators are also affected by the development of renewable energies; In this article, the relationship between the production of renewable energy and the employment rate and the comparison of this relationship in selected OECD and OPEC countries have been investigated. For this purpose, using panel data method and data related to 20 OECD member countries and 8 OPEC member countries in the period of 1990-2019, the effect of renewable energy production on employment has been evaluated. According to the results of this study, in both groups of OECD and OPEC countries, acceptable energy production has had a positive effect on the work rate in these countries. In the OPEC group, a one percent change in the production of positive energy has increased energy to 0.27%, which is equal to 0.05 in the OECD countries.

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Journal of Energy Economics Modeling
Volume 1, Issue 1
September 2023

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