The factors leading to a surge in electric vehicle sales: a panel data analysis for OECD countries

Date

2024-7

Author

Yamaner, Özgür Çağatay

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This thesis aims to scrutinize the determinants of Electric Vehicle (EV) sales incorporating socioeconomic and other factors through a panel data analysis covering 23 OECD countries over the period from 2010 to 2022. After using panel data analysis for the Fixed Effects model, we extend our study through a one-step difference Generalized Method of Moments (GMM) and system GMM techniques to analyze the data under the possibility of the presence of endogeneity. We show that the first lag of EV sales, the number of charging stations from the previous year, GDP per capita and years of schooling have positive and significant effects on EV sales based on difference GMM estimation. The findings indicate that years of schooling is the most influential factor in the adoption of EVs. It is also revealed that the other variables have no statistically significant effect on EV sales including oil prices, unlike the studies that cover a shorter period of time.

Subject Keywords

Electric vehicles, Crude oil price, Socioeconomic factors, Panel data, GMM

URI

https://hdl.handle.net/11511/110138

Collections

Graduate School of Social Sciences, Thesis