Renewable and non-renewable energy consumption-economic growth nexus: new evidence from South Asia
Article
Article Title | Renewable and non-renewable energy consumption-economic growth nexus: new evidence from South Asia |
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ERA Journal ID | 4067 |
Article Category | Article |
Authors | Rahman, Mohammad Mafizur (Author) and Velayutham, Eswaran (Author) |
Journal Title | Renewable Energy |
Journal Citation | 147 (Part 1), pp. 399-408 |
Number of Pages | 10 |
Year | 2020 |
Publisher | Elsevier |
Place of Publication | United Kingdom |
ISSN | 0960-1481 |
1879-0682 | |
Digital Object Identifier (DOI) | https://doi.org/10.1016/j.renene.2019.09.007 |
Web Address (URL) | https://www.sciencedirect.com/science/article/pii/S0960148119313370 |
Abstract | This study explores the relationship between renewable and non-renewable energy consumption and economic growth for a panel of five South Asian countries over the period of 1990e2014. To see the longrun co-integration between the variables, the study applies Pedroni (1999, 2004) and Kao (1999) tests. The long-run equilibrium relationship is determined using panel Fully Modified Ordinary Least Squares and panel Dynamic Ordinary Least Squares estimation techniques. Dumitrescue-Hurlin (2012) panel causality test is used to see the causal links between the variables. The study finds positive impacts of renewable and non-renewable energy consumption and fixed capital formation on economic growth. Ceteris paribus, a 1% increase in renewable energy consumption, non-renewable energy consumption and capital increased economic growth by 0.66%. 0.10% and 0.58%, respectively. It is also revealed that there is a unidirectional causality running from economic growth to renewable energy consumption. As per the obtained results, the conservation hypothesis is valid for the South Asian countries. |
Keywords | renewable energy; non-renewable energy; economic growth; South Asia; panel data; fully modified ordinary least squares |
ANZSRC Field of Research 2020 | 440499. Development studies not elsewhere classified |
380204. Panel data analysis | |
380199. Applied economics not elsewhere classified | |
Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
Byline Affiliations | School of Commerce |
Institution of Origin | University of Southern Queensland |
https://research.usq.edu.au/item/q55z6/renewable-and-non-renewable-energy-consumption-economic-growth-nexus-new-evidence-from-south-asia
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