Can biomass energy be an efficient policy tool for sustainable development?

Renewable and Sustainable Energy Reviews - Tập 71 - Trang 830-845 - 2017
Faik Bilgili1, Emrah Koçak2, Ümit Bulut3, Sevda Kuşkaya4
1Erciyes University, Faculty of Economics and Administrative Sciences, Department of Economics, 38039, Melikgazi, Kayseri, Turkey
2Ahi Evran University, Mucur Vocational School, 40500 Kırşehir, Turkey
3Ahi Evran University, Faculty of Economics and Administrative Sciences, Department of Economics, 40100 Kırşehir, Turkey
4Erciyes University, Social Sciences Institution, 38039 Melikgazi/Kayseri, Turkey

Tài liệu tham khảo

Stern, 2004, Economic growth and energy, Encycl Energy, 2, 35, 10.1016/B0-12-176480-X/00147-9 Bilgili, 2015, Biomass energy and economic growth nexus in G7 countries: evidence from dynamic panel data, Renew Sustain Energy Rev, 49, 132, 10.1016/j.rser.2015.04.098 International Energy Agency (IEA). World Energy Outlook, 〈http://www.worldenergyoutlook.org/weo2012/〉; 2012 [accessed 01.11.15]. Ong, 2011, A review on energy scenario and sustainable energy in Malaysia, Renew Sustain Energy Rev, 15, 639, 10.1016/j.rser.2010.09.043 Qin, 2012, Impacts of land use change due to biofuel crops on carbon balance, bioenergy production, and agricultural yield, in the conterminous United States, GCB Bioenergy, 4, 277, 10.1111/j.1757-1707.2011.01129.x Müller-Steinhagen, 2005, The contribution of renewable energies to a sustainable energy economy, Process Saf Environ Prot, 83, 285, 10.1205/psep.05084 Chapman, 2014, The end of Peak Oil? Why this topic is still relevant despite recent denials, Energy Policy, 64, 93, 10.1016/j.enpol.2013.05.010 Li, 2007, Peak oil, the rise of China and India, and the global energy crisis, J Contemp Asia, 37, 449, 10.1080/00472330701654451 Dincer, 2000, Renewable energy and sustainable development: a crucial review, Renew Sustain Energy Rev, 4, 157, 10.1016/S1364-0321(99)00011-8 Ahmad, 2014, Selection of renewable energy sources for sustainable development of electricity generation system using analytic hierarchy process: a case of Malaysia, Renew Energy, 63, 458, 10.1016/j.renene.2013.10.001 Vivoda, 2012, Japan's energy security predicament post-Fukushima, Energy Policy, 46, 135, 10.1016/j.enpol.2012.03.044 Brown, 2008, Energy security and climate change protection: complementarity or tradeoff?, Energy Policy, 36, 3510, 10.1016/j.enpol.2008.05.027 Bang, 2010, Energy security and climate change concerns: triggers for energy policy change in the United States?, Energy Policy, 38, 1645, 10.1016/j.enpol.2009.01.045 Gunningham, 2013, Managing the energy trilemma: the case of Indonesia, Energy Policy, 54, 184, 10.1016/j.enpol.2012.11.018 Ozturk I. Energy dependency and security: The role of efficiency and renewable energy sources. International Growth Centre, London School of Economics andPolitical Science, 〈http://igc.soapboxserver.co.uk/wp-content/uploads/2014/09/Ozturk-2014-Working-Paper.pdf〉 [accessed 10.11.15]; 2014. Tingem, 2009, Adaptation for crop agriculture to climate change in Cameroon: turning on the heat, Mitig Adapt Strateg Glob Chang, 14, 153, 10.1007/s11027-008-9156-3 Wuebbles, 2002, Concerns aboutclimate change and global warming, 1 Reay, 2007, Carbon dioxide: importance, sources and sinks, 1 Lau, 2012, Global warming mitigation and renewable energy policy development from the Kyoto Protocol to the Copenhagen Accord—A comment, Renew Sustain Energy Rev, 16, 5280, 10.1016/j.rser.2012.04.006 Saboori, 2013, Environmental degradation, economic growth and energy consumption: evidence of the environmental Kuznets curve in Malaysia, Energy Policy, 60, 892, 10.1016/j.enpol.2013.05.099 Nejat, 2015, A global review of energy consumption, CO2 emissions and policy in the residential sector (with an overview of the top ten CO2 emitting countries), Renew Sustain Energy Rev, 43, 843, 10.1016/j.rser.2014.11.066 Global Greengouse Gas Reference Network. 〈http://www.esrl.noaa.gov/gmd/ccgg/trends/〉 [accessed 29.10.15]; 2015. Maslin, 2004 Narayan, 2007, Rationale, drivers, standards and technology for biobased materials, 3 Swapnesh, 2014, Comparative Study on Thermodynamic Analysis of CO2 Utilization Reactions, Chem Eng Technol, 37, 1765, 10.1002/ceat.201400157 IPCC (Intergovernmental Panel on Climate Change), 1990 Schulze, 2012, Large‐scale bioenergy from additional harvest of forest biomass is neither sustainable nor greenhouse gas neutral, GCB Bioenergy, 4, 611, 10.1111/j.1757-1707.2012.01169.x Mitchell, 2012, Carbon debt and carbon sequestration parity in forest bioenergy production, GCB Bioenergy, 4, 818, 10.1111/j.1757-1707.2012.01173.x Schueler, 2013, Global biomass potentials under sustainability restrictions defined by the European Renewable Energy Directive 2009/28/EC, GCB Bioenergy, 5, 652, 10.1111/gcbb.12036 Van Zelm, 2014, Impacts of biogenic CO2 emissions on human health and terrestrial ecosystems: the case of increased wood extraction for bioenergy production on a global scale, GCB Bioenergy, 7, 608, 10.1111/gcbb.12153 Creutzig, 2014, Bioenergy andclimate change mitigation: an assessment, GCB Bioenergy, 7, 916, 10.1111/gcbb.12205 Akorede, 2012, Mitigating the anthropogenic global warming in the electric power industry, Renew Sustain Energy Rev, 16, 2747, 10.1016/j.rser.2012.02.037 Searle, 2015, A reassessment of global bioenergy potential in 2050, GCB Bioenergy, 7, 328, 10.1111/gcbb.12141 Demirbas, 2008 Wang, 2014, The potential for bioenergy crops to contribute to meeting GB heat and electricity demands, GCB Bioenergy, 6, 136, 10.1111/gcbb.12123 Bhattacharya, 2003, Sustainable biomass production for energy in selected Asian countries, Biomass- Bioenergy, 25, 471, 10.1016/S0961-9534(03)00085-0 Teske, 2011, Energy [R] evolution 2010—a sustainable world energy outlook, Energy Effic, 4, 409, 10.1007/s12053-010-9098-y McCarl, 2010, Could bioenergy be used to harvest the greenhouse: an economic investigation of bioenergy and climate change?, 195 Van Loo, 2008 Walter A Biofuels in developing countries and rapidly emerging economies–socio-economic and political aspects. Biofuels for transportation: Global potential and implications for sustainable agriculture and energy, May 16-17 2006, Berlin, Germany. Hoekman, 2009, Biofuels in the US–challenges and opportunities, Renew Energy, 34, 14, 10.1016/j.renene.2008.04.030 Demirbas, 2009, Potential contribution of biomass to the sustainable energy development, Energy Convers Manag, 50, 1746, 10.1016/j.enconman.2009.03.013 Bildirici, 2014, Relationship between biomass energy and economic growth in transition countries: panel ARDL approach, GCB Bioenergy, 6, 717, 10.1111/gcbb.12092 Hill, 2006, Environmental, economic, and energetic costs and benefits of biodiesel and ethanol biofuels, Proc Natl Acad Sci USA, 103, 11206, 10.1073/pnas.0604600103 Georgescu, 2011, Direct climate effects of perennial bioenergy crops in the United States, Proc Natl Acad Sci USA, 108, 4307, 10.1073/pnas.1008779108 Demirbas, 2011, Biofuels from algae for sustainable development, Appl Energy, 88, 3473, 10.1016/j.apenergy.2011.01.059 Rosillo-Calle, 2007, Overview of biomass energy, 1 Oyedepo, 2012, Energy and sustainable development in Nigeria: the way forward, Energy, Sustain Soc, 2, 1, 10.1186/2192-0567-2-15 Hatemi, 2012, Asymmetric causality tests with an application, Empir Econ, 43, 447, 10.1007/s00181-011-0484-x International Energy Agency (IEA). CO2 emissions from fuel combustion-highlights, 〈http://www.iea.org/publications/freepublications/〉 [accessed 29.10.15]; 2014. Energy Information Administration (EIA). U.S. Energy Information Administration Data, 〈http://www.eia.gov/countries/data.cfm〉 [accessed 01.10.15]; 2015. Sorda, 2010, An overview of biofuel policies across the world, Energy Policy, 38, 6977, 10.1016/j.enpol.2010.06.066 European Renewable Energy Council (EREC). Renewable Energy in Europe: Markets, Trends, and Technologies. Earthscan, 〈http://www.shirazedc.co.ir/DorsaPax/userfiles/file/Ebook/Renewable%20Energy%20in%20Europe%20-%20Markets,Trends%20and%20Technologies%20-%20EREC.pdf〉 [accessed 01.11.15]; 2010. International Energy Agency (IEA). Technology Roadmap–Biofuels for Transport, 〈http://www.iea.org/publications/freepublications/publication/biofuels_roadmap_web.pdf〉 [accesses 01.11.15]; 2011. Piroli, 2015, From a rise in B to a fall in C? SVAR analysis of environmental impact of biofuels, Renew Sustain Energy Rev, 49, 921, 10.1016/j.rser.2015.04.133 Salim, 2014, Urbanization and renewable and non-renewable energy consumption in OECD countries: an empirical analysis, Econ Model, 38, 581, 10.1016/j.econmod.2014.02.008 Solarin, 2015, On the causal dynamics between hydroelectricity consumption and economic growth in Latin America countries, Renew Sustain Energy Rev, 52, 1857, 10.1016/j.rser.2015.08.003 Tiwari, 2014, The asymmetric Granger-causality analysis between energy consumption and income in the United States, Renew Sustain Energy Rev, 36, 362, 10.1016/j.rser.2014.04.066 Breeze, 2004 Torregrosa, 2013, Impact of Fischer–Tropsch and biodiesel fuels on trade-offs between pollutant emissions and combustion noise in diesel engines, Biomass- Bioenergy, 52, 22, 10.1016/j.biombioe.2013.03.004 Demirbas, 2009, Political, economic and environmental impacts of biofuels: a review, Appl Energy, 86, 108, 10.1016/j.apenergy.2009.04.036 Searchinger, 2008, Use of US croplands for biofuels increases greenhouse gases through emissions from land-use change, Sci, 319, 1238, 10.1126/science.1151861 Pradhan, 2014, Development of biofuels in South Africa: challenges and opportunities, Renew Sustain Energy Rev, 39, 1089, 10.1016/j.rser.2014.07.131 Fontaras, 2012, Integrated environmental assessment of energy crops for biofuel and energy production in Greece, Renew Energy, 43, 201, 10.1016/j.renene.2011.12.010 Repo, 2015, Can we produce carbon and climate neutral forest bioenergy?, GCB Bioenergy, 7, 253, 10.1111/gcbb.12134 Hall, 2000, An overview of biomass energy, 1 Popp, 2012, Additional CO2 emissions from land use change—forest conservation as a precondition for sustainable production of second generation bioenergy, Ecol Econ, 74, 64, 10.1016/j.ecolecon.2011.11.004 Havlík, 2011, Global land-use implications of first and second generation biofuel targets, Energy Policy, 39, 5690, 10.1016/j.enpol.2010.03.030 Rajcaniova, 2014, Bioenergy and global land-use change, Appl Econ, 46, 3163, 10.1080/00036846.2014.925076 Drabik D, De Gorter H, Just DR. The implications of alternative biofuel policies on carbon leakage, 〈http://ageconsearch.umn.edu/bitstream/102689/2/DrabikdeGorterJustAAEA_Pittsburgh.pdf〉 [accessed 01.11.15]; 2010. Drabik, 2011, Biofuel policies and carbon leakage, AgBioForum, 14, 104 Grafton, 2012, Substitution between biofuels and fossil fuels: is there a green paradox?, J Environ Econ Manag, 64, 328, 10.1016/j.jeem.2012.07.008 Grafton, 2014, US biofuels subsidies and CO2 emissions: an empirical test for a weak and a strong green paradox, Energy Policy, 68, 550, 10.1016/j.enpol.2013.11.006 Schwaiger, 1998, The potential of fuelwood to reduce greenhouse gas emissions in Europe, Biomass- Bioenergy, 15, 369, 10.1016/S0961-9534(98)00043-9 Wahlund, 2004, Increasing biomass utilisation in energy systems: a comparative study of CO2 reduction and cost for different bioenergy processing options, Biomass- Bioenergy, 26, 531, 10.1016/j.biombioe.2003.09.003 Gustavsson, 2007, Using biomass for climate change mitigation and oil use reduction, Energy Policy, 35, 5671, 10.1016/j.enpol.2007.05.023 Utlu, 2007, Evaluation of biodiesel fuel obtained from waste cooking oil, Energy Sour, Part A, 29, 1295, 10.1080/00908310500434564 Senatore, 2008, Combustion study of a common rail diesel engine optimized to be fueled with biodiesel, Energy Fuels, 22, 1405, 10.1021/ef7004749 Panwar, 2010, CO2 mitigation potential from biodiesel of castor seed oil in Indian context, Clean Technol Environ Policy, 12, 579, 10.1007/s10098-009-0269-5 Khanna, 2011, Economics of herbaceous bioenergy crops for electricity generation: implications for greenhouse gas mitigation, Biomass- Bioenergy, 35, 1474, 10.1016/j.biombioe.2010.11.031 Bento AM, Klotz R, Landry J. Are there carbon savings from US biofuel policies? The critical importance of accounting for leakage in land and fuel markets, 〈http://papers.ssrn.com/sol3/papers.cfm?Abstract_id=2219503〉 [accessed 01.11.15]; 2010. Fangsuwannarak, 2013, Effect of metalloid compound and bio-solution additives on biodiesel engine performance and exhaust emissions, Am J Appl Sci, 10, 1201, 10.3844/ajassp.2013.1201.1213 Suttles, 2014, Economic effects of bioenergy policy in the United States and Europe: a general equilibrium approach focusing on forest biomass, Renew Energy, 69, 428, 10.1016/j.renene.2014.03.067 Bilgili, 2012, The impact of biomass consumption on CO2 emissions: cointegration analyses with regime shifts, Renew Sustain Energy Rev, 16, 5349, 10.1016/j.rser.2012.04.021 Katircioglu, 2015, The impact of biomass consumption on CO2 emissions: an empirical investigation from Turkey, Int J Clim Chang Strateg Manag, 7, 348, 10.1108/IJCCSM-06-2014-0077 Gilbert, 2014, Assessing economically viable carbon reductions for the production of ammonia from biomass gasification, J Clean Prod, 64, 581, 10.1016/j.jclepro.2013.09.011 Kuo, 2016, Thermodynamic analysis of a combined heat and power system with CO2 utilization based on co-gasification of biomass and coal, Chem Eng Sci, 142, 201, 10.1016/j.ces.2015.11.030 Garcia, 2015, Sustainable bioenergy options for Mexico: ghg mitigation and costs, Renew Sustain Energy Rev, 43, 545, 10.1016/j.rser.2014.11.062 Shen, 2016, Changes from traditional solid fuels to clean household energies–Opportunities in emission reduction of primary PM 2.5 from residential cookstoves in China, Biomass- Bioenergy, 86, 28, 10.1016/j.biombioe.2016.01.004 Sharifzadeh, 2015, Integrated biorefineries: co2 utilization for maximum biomass conversion, Renew Sustain Energy Rev, 47, 151, 10.1016/j.rser.2015.03.001 Trivedi, 2015, Algae based biorefinery-How to make sense?, Renew Sustain Energy Rev, 47, 295, 10.1016/j.rser.2015.03.052 Nishiguchi, 2016, Assessment of social, economic, and environmental aspects of woody biomass energy utilization: direct burning and wood pellets, Renew Sustain Energy Rev, 57, 1279, 10.1016/j.rser.2015.12.213 Herbert, 2016, Quantifying environmental performance of biomass energy, Renew Sustain Energy Rev, 59, 292, 10.1016/j.rser.2015.12.254 Sekhar, 2015, Differential responses in photosynthesis, growth and biomass yields in two mulberry genotypes grown under elevated CO2 atmosphere, J Photochem Photobiol B Biol, 151, 172, 10.1016/j.jphotobiol.2015.08.008 Das, 2013, The dynamics of natural gas consumption and GDP in Bangladesh, Renew Sustain Energy Rev, 22, 269, 10.1016/j.rser.2013.01.053 Kraft, 1978, Relationship between energy and GNP, J Energy Dev, 3 Ozturk, 2010, A literature survey on energy–growth nexus, Energy Policy, 38, 340, 10.1016/j.enpol.2009.09.024 Bloch, 2015, Economic growth with coal, oil and renewable energy consumption in China: prospects for fuel substitution, Econ Model, 44, 104, 10.1016/j.econmod.2014.09.017 Belke, 2011, Energy consumption and economic growth: new insights into the cointegration relationship, Energy Econ, 33, 782, 10.1016/j.eneco.2011.02.005 Omri, 2014, An international literature survey on energy-economic growth nexus: evidence from country-specific studies, Renew Sustain Energy Rev, 38, 951, 10.1016/j.rser.2014.07.084 Al-Mulali, 2014, Are energy conservation policies effective without harming economic growth in the Gulf Cooperation Council countries?, Renew Sustain Energy Rev, 38, 639, 10.1016/j.rser.2014.07.006 Shiu, 2004, Electricity consumption and economic growth in China, Energy Policy, 32, 47, 10.1016/S0301-4215(02)00250-1 Lee, 2005, Energy consumption and GDP in developing countries: a cointegrated panel analysis, Energy Econ, 27, 415, 10.1016/j.eneco.2005.03.003 Odhiambo, 2009, Energy consumption and economic growth nexus in Tanzania: an ARDL bounds testing approach, Energy Policy, 37, 617, 10.1016/j.enpol.2008.09.077 Tsani, 2010, Energy consumption and economic growth: a causality analysis for Greece, Energy Econ, 32, 582, 10.1016/j.eneco.2009.09.007 Sari, 2008, The relationship between disaggregate energy consumption and industrial production in the United States: an ARDL approach, Energy Econ, 30, 2302, 10.1016/j.eneco.2007.10.002 Sadorsky, 2009, Renewable energy consumption and income in emerging economies, Energy Policy, 37, 4021, 10.1016/j.enpol.2009.05.003 Zhang, 2009, Energy consumption, carbon emissions, and economic growth in China, Ecol Econ, 68, 2706, 10.1016/j.ecolecon.2009.05.011 Ahmed, 2015, Energy consumption–economic growth nexus for Pakistan: taming the untamed, Renew Sustain Energy Rev, 52, 890, 10.1016/j.rser.2015.07.063 Acaravci, 2010, Electricity consumption-growth nexus: evidence from panel data for transition countries, Energy Econ, 32, 604, 10.1016/j.eneco.2009.10.016 Nazlioglu, 2011, Nuclear energy consumption and economic growth in OECD countries: cross-sectionally dependent heterogeneous panel causality analysis, Energy Policy, 39, 6615, 10.1016/j.enpol.2011.08.007 Menegaki, 2011, Growth and renewable energy in Europe: a random effect model with evidence for neutrality hypothesis, Energy Econ, 33, 257, 10.1016/j.eneco.2010.10.004 Wolde-Rufael, 2012, Nuclear energy consumption and economic growth in Taiwan, Energy Sources Part B Econ Plan Policy, 7, 21, 10.1080/15567240802564752 Paul, 2004, Causality between energy consumption and economic growth in India: a note on conflicting results, Energy Econ, 26, 977, 10.1016/j.eneco.2004.07.002 Shahbaz, 2012, Is energy consumption effective to spur economic growth in Pakistan? New evidence from bounds test to level relationships and Granger causality tests, Econ Model, 29, 2310, 10.1016/j.econmod.2012.06.027 Chang, 2015, Renewable energy and growth: evidence from heterogeneous panel of G7 countries using Granger causality, Renew Sustain Energy Rev, 52, 1405, 10.1016/j.rser.2015.08.022 Ozturk, 2015, Natural gas consumption and economic growth nexus: panel data analysis for GCC countries, Renew Sustain Energy Rev, 51, 998, 10.1016/j.rser.2015.07.005 Solarin, 2016, The relationship between natural gas consumption and economic growth in OPEC members, Renew Sustain Energy Rev, 58, 1348, 10.1016/j.rser.2015.12.278 Cheng, 1997, Energy consumption and economic growth in Brazil, Mexico and Venezuela: a time series analysis, Appl Econ Lett, 4, 671, 10.1080/758530646 Wolde-Rufael, 2006, Electricity consumption and economic growth: a time series experience for 17 African countries, Energy Policy, 34, 1106, 10.1016/j.enpol.2004.10.008 Huang, 2008, Causal relationship between energy consumption and GDP growth revisited: a dynamic panel data approach, Ecol Econ, 67, 41, 10.1016/j.ecolecon.2007.11.006 Ozturk, 2010, Energy consumption and economic growth relationship: evidence from panel data for low and middle income countries, Energy Policy, 38, 4422, 10.1016/j.enpol.2010.03.071 Payne, 2011, On biomass energy consumption and real output in the US, Energy Sour Part B: Econ Plan Policy, 6, 47, 10.1080/15567240903160906 Bildirici, 2013, Economic growth and biomass energy, Biomass- Bioenergy, 50, 19, 10.1016/j.biombioe.2012.09.055 Ozturk, 2015, Economic growth and biomass consumption nexus: dynamic panel analysis for Sub-Sahara African countries, Appl Energy, 137, 110, 10.1016/j.apenergy.2014.10.017 Eden, 1992, Cointegration tests of energy consumption, income, and employment, Resour Energy, 14, 259, 10.1016/0165-0572(92)90010-E Oh, 2004, Causal relationship between energy consumption and GDP revisited: the case of Korea 1970–1999, Energy Econ, 26, 51, 10.1016/S0140-9883(03)00030-6 Ang, 2007, CO2 emissions, energy consumption, and output in France, Energy Policy, 35, 4772, 10.1016/j.enpol.2007.03.032 Narayan, 2008, Energy consumption and real GDP in G7 countries: new evidence from panel cointegration with structural breaks, Energy Econ, 30, 2331, 10.1016/j.eneco.2007.10.006 Zhang, 2011, Interpreting the dynamic nexus between energy consumption and economic growth: empirical evidence from Russia, Energy Policy, 39, 2265, 10.1016/j.enpol.2011.01.024 Dagher, 2012, The causal relationship between energy consumption and economic growth in Lebanon, Energy Policy, 50, 795, 10.1016/j.enpol.2012.08.034 Nasreen, 2014, Causal relationship between trade openness, economic growth and energy consumption: a panel data analysis of Asian countries, Energy Policy, 69, 82, 10.1016/j.enpol.2014.02.009 Reynolds, 2008, Former Soviet Union oil production and GDP decline: granger causality and the multi-cycle Hubbert curve, Energy Econ, 30, 271, 10.1016/j.eneco.2006.05.021 Wolde-Rufael, 2010, Bounds test approach to cointegration and causality between nuclear energy consumption and economic growth in India, Energy Policy, 38, 52, 10.1016/j.enpol.2009.08.053 Payne, 2010, Nuclear energy consumption and economic growth in the US: an empirical note, Energy Sour, Part B: Econ Plan Policy, 5, 301, 10.1080/15567240802533955 Apergis, 2010, Coal consumption and economic growth: evidence from a panel of OECD countries, Energy Policy, 38, 1353, 10.1016/j.enpol.2009.11.016 Apergis, 2010, Natural gas consumption and economic growth: a panel investigation of 67 countries, Appl Energy, 87, 2759, 10.1016/j.apenergy.2010.01.002 Park, 2014, The dynamics of oil consumption and economic growth in Malaysia, Energy Policy, 66, 218, 10.1016/j.enpol.2013.10.059 Ghosh, 2002, Electricity consumption and economic growth in India, Energy Policy, 30, 125, 10.1016/S0301-4215(01)00078-7 Yoo, 2005, Electricity consumption and economic growth: evidence from Korea, Energy Policy, 33, 1627, 10.1016/j.enpol.2004.02.002 Akinlo, 2009, Electricity consumption and economic growth in Nigeria: evidence from cointegration and co-feature analysis, J Policy Model, 31, 681, 10.1016/j.jpolmod.2009.03.004 Abosedra, 2009, Electricity consumption and economic growth, the case of Lebanon, Appl Energy, 86, 429, 10.1016/j.apenergy.2008.06.011 Shahbaz, 2012, Electricity consumption and economic growth empirical evidence from Pakistan, Qual Quant, 46, 1583, 10.1007/s11135-011-9468-3 Shengfeng, 2012, The relationship between electricity consumption and economic growth in China, Phys Procedia, 24, 56, 10.1016/j.phpro.2012.02.010 Payne, 2009, On the dynamics of energy consumption and output in the US, Appl Energy, 86, 575, 10.1016/j.apenergy.2008.07.003 Menyah K, Wolde-Rufael Y CO2 emissions, nuclear energy, renewable energy and economic growth in the US. Energy Policy;38: p. 2911–2915. Apergis, 2011, The renewable energy consumption–growth nexus in Central America, Appl Energy, 88, 343, 10.1016/j.apenergy.2010.07.013 Lin, 2014, Renewable energy consumption–Economic growth nexus for China, Renew Sustain Energy Rev, 40, 111, 10.1016/j.rser.2014.07.128 Bilgili, 2015, Business cycle co-movements between renewables consumption and industrial production: a continuous wavelet coherence approach, Renew Sustain Energy Rev, 52, 325, 10.1016/j.rser.2015.07.116 Zhou, 2016, Mechanism design theory: the development in economics and management, Open J Bus Man, 4 United Nations. World Economic and Social Survey 2013 Sustainable Development Challenges, 〈https://sustainabledevelopment.un.org/content/documents/2843WESS2013.pdf〉; 2013 [accessed 12.14.16]. Energy Information Administration (EIA). Policies to promote non-hydro renewable energy in the United States and selected countries, 〈http://nrec.mn/data/uploads/Nom%20setguul%20xicheel/PV/nonhydrorenewablespaper_final.pdf〉 [accessed 26.01.16]; 2005. Biomassboard. 〈http://www.biomassboard.gov/〉 [accessed15.12.16]; 2016. U.S. Government Printing Office (US GPO), 2005 National Association of Conservation District (NACDNET). Woody biomass desk guide & toolkit, 〈http://www.nacdnet.org/doc_download/269-chapter5〉 [accessed 15.12.16]; 2015. Energy Information Administration (EIA). Electric utility demand side management, 〈http://www.eia.gov/electricity/data/eia861/dsm/〉 [accessed 16.12.16]; 2016. Chum, 2001, Biomass and renewable fuels, Fuel Process Technol, 71, 187, 10.1016/S0378-3820(01)00146-1 International Renewable Energy Agency (IRENA). Renewable energy technologies: cost analysis series, 〈https://sustainabledevelopment.un.org/content/documents/2843WESS2013.pdf〉 [accessed 15.12.16]; 2012. European Climate Foundation. Biomass for heat and power: opportunity and economics, 〈https://europeanclimate.org/documents/Biomass_report_-_Final.pdf〉 [accessed 15.12.16]; 2010. Rausser, 2010, Managing R&D risk in renewable energy: biofuels vs. alternate technologies, AgBioForum, 13, 375 Mielenz, 2001, Ethanol production from biomass: technology and commercialization status, Curr Opin Microbiol, 4, 324, 10.1016/S1369-5274(00)00211-3 Owen, 2006, Renewable energy: externality costs as market barriers, Energy Policy, 34, 632, 10.1016/j.enpol.2005.11.017 Timmons D, Harris JM, Roach B. The economics of renewable energy, 〈http://www.ase.tufts.edu/gdae/education_materials/modules/RenewableEnergyEcon.pdf〉 [accessed 15.12.16]; 2014. Gomiero, 2015, Are biofuels an effective and viable energy strategy for industrialized societies? A reasoned overview of potentials and limits, Sustain, 7, 8491, 10.3390/su7078491 Harvard Business School Institute for Strategy & Competitiveness. The value chain, 〈http://www.isc.hbs.edu/strategy/business-strategy/pages/the-value-chain.aspx〉 [accessed 15.12.16]; 2016. World Bank Database. 〈http://data.worldbank.org/indicator〉 [accessed 01.10.15]; 2015. Global Material Flow Database. 〈http://www.materialflows.net/data/datadownload/〉 [accessed 01.10.15]; 2015. Dickey, 1981, Likelihood ratio statistics for autoregressive time series with a unit root, Econometrica, 49, 1057, 10.2307/1912517 Phillips, 1988, Testing for a unit root in time series regression, Biometrika, 75, 335, 10.1093/biomet/75.2.335 Lee, 2003, Minimum Lagrange multiplier unit root test with two structural breaks, Rev Econ Stat, 85, 1082, 10.1162/003465303772815961 Schmidt, 1992, LM tests for a unit root in the presence of deterministic trends, Oxf Bull Econ Stat, 1992, 257, 10.1111/j.1468-0084.1992.tb00002.x Strazicich, 2004, Are incomes converging among OECD countries? Time series evidence with two structural breaks, J Macroecon, 26, 131, 10.1016/j.jmacro.2002.11.001 Granger, 1969, Investigating causal relations by econometric models and cross-spectral methods, Econometrica, 37, 424, 10.2307/1912791 Hatemi, 2003, A new method to choose optimal lag order in stable and unstable VAR models, Appl Econ Lett, 10, 135, 10.1080/1350485022000041050 Hatemi, 2008, Forecasting properties of a new method to determine optimal lag order in stable and unstable VAR models, Appl Econ Lett, 15, 239, 10.1080/13504850500461613 Toda, 1995, Statistical inference in vector autoregressions with possibly integrated processes, J Econ, 66, 225, 10.1016/0304-4076(94)01616-8 University of California at Berkeley. Fiscal politics & policy from 1970’s to present, 〈http://vm136.lib.berkeley.edu/BANC/ROHO/projects/debt/1990srecession.html〉 [accessed 10.12.15]; 1999. Carlson, M. A. Brief History of the 1987 Stock Market Crash with a Discussion of the Federal Reserve Response, FEDS Working Papers 2007;13: p. 1-24. Hall R, Feldstein M, Bernanke B, Frankel J, Gordon R, Zarnowitz V. The Business-Cycle Peak of March 2001, 〈http://www.nber.org/cycles/november 2001/recessions.pdf〉 [accessed 12.12.15]; 2001. Langdon, 2002, U.S. labor market in 2001: economy enters a recession, Mon Labor Rev, 125, 3