Nuclear energy consumption and economic growth in the UK: Evidence from wavelet coherence approach

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Kirikkaleli D., Adedoyin F. F., Bekun F. V.

Journal of Public Affairs, cilt.21, sa.1, 2021 (ESCI) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 21 Sayı: 1
  • Basım Tarihi: 2021
  • Doi Numarası: 10.1002/pa.2130
  • Dergi Adı: Journal of Public Affairs
  • Derginin Tarandığı İndeksler: Emerging Sources Citation Index (ESCI), Scopus, Academic Search Premier, IBZ Online, International Bibliography of Social Sciences, ABI/INFORM, Business Source Elite, Business Source Premier, Communication & Mass Media Index, PAIS International, Political Science Complete, Public Affairs Index, vLex
  • İstanbul Gelişim Üniversitesi Adresli: Evet

Özet

© 2020 John Wiley & Sons, LtdThe aim of this present study is to assess the causal link between nuclear energy consumption and economic growth in the United Kingdom using Toda Yamamoto causality and wavelet coherence tests with the objective of responding to the following questions: (a) Does consumption of nuclear energy lead to economic growth in the United Kingdom and/or does economic growth lead to the consumption of nuclear energy sources in the United Kingdom, and (b) if so, why? The findings from wavelet coherence reveal that changes in economic growth lead to changes in nuclear energy consumption in the United Kingdom at different frequencies, especially in the long-run, and in different periods between 1998 and 2017. In addition, there is a positive correlation between nuclear energy consumption and economic growth between 2002 and 2006 in the short-run. In this study, we also check the consistency of the findings from wavelet coherence which is confirmed by the outcomes of Toda Yamamoto causality test. Therefore, the present study is likely to attract great interest from the policy-makers and researchers in this field. At the same time, it is likely to start a new debate.