Does Improvement in Trade Openness Facilitate Renewable Energy Transition? Evidence from Selected South Asian Economies

2018 ◽  
Vol 19 (2) ◽  
pp. 151-170 ◽  
Author(s):  
Muntasir Murshed
Keyword(s):  
Renewable Energy ◽  
South Asian ◽  
Time Series Data ◽  
Trade Openness ◽  
Energy Transition ◽  
Series Data ◽  
Renewable Energy Resources ◽  
Renewable Energy Consumption ◽  
Causality Test ◽  
Asian Economies

The aim of this article is to empirically shed light on the impacts of trade openness (TO) on facilitation of renewable energy transition (RET) across Bangladesh, India, Pakistan, Sri Lanka and Nepal. Against this backdrop, this article incorporated annual time series data stemming from 2000 to 2017 and employed the two-stage least squares (2SLS) panel data estimation methodology. In addition, the panel Granger causality test was also applied to distinguish the possible long-run causal associations between the variables considered in the regression models. In the light of the estimated results, it is found that an improvement in TO triggers renewable energy consumption, improves the primary energy-use efficiency and elevates the access to clean cooking fuel technology within the selected South Asian economies. However, the results also led to the concerning conclusion regarding the ineffectiveness of the trade liberalization policies in curbing the relative consumption of non-renewable energy resources, thereby marginalizing the prospects of overall RET within these economies. JEL: O13, P2, Q42, D12, F35

scholarly journals PENGARUH KONSUMSI ENERGI DAN REZIM TERHADAP PERTUMBUHAN EKONOMI DI INDONESIA

2019 ◽  
Vol 1 (2) ◽  
pp. 401
Author(s):  
Zakiah Husna ◽  
Idris Idris
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Time Series Data ◽  
Secondary Data ◽  
Series Data ◽  
Renewable Energy Consumption ◽  
Energy Regime ◽  
Negative Effect ◽  
Positive Effect

This study aims to determine the effect of energy consumption and regime on economic growth in Indonesia. The data used is secondary data in the form of time series data from 1988-2017, with documentation and library study data collection techniques obtained from relevant institutions and agencies. the variables used are economic growth (GDP), non-renewable energy consumption, renewable energy consumption and regime, the research methods used are: (1) Multiple Regression Analysis (OLS), (2) Classical Assumption Test results of research stating that: ( 1) non-renewable energy consumption has a positive effect on economic growth in Indonesia. (2) consumption of renewable energy has a positive effect on economic growth in Indonesia. (3) the energy regime has a negative effect on economic growth in Indonesia. (4) non-renewable energy consumption, renewable energy consumption and energy regime have a significant effect on economic growth in Indonesia. so only the energy regime has a negative effect on economic growth in Indonesia.

scholarly journals Islamic Finance and Economic Growth Nexus: An Econometric Analysis

2019 ◽  
Vol 2 (1) ◽  
pp. 11-22
Author(s):  
Kashif Raza ◽  
Rashid Ahmad ◽  
Muhammad Abdul Rehman Shah ◽  
Muhammad Umar
Keyword(s):  
Economic Growth ◽  
Time Series Data ◽  
Trade Openness ◽  
Unit Root Test ◽  
Least Square ◽  
Series Data ◽  
Islamic Finance ◽  
Causality Test ◽  
Economic Agents ◽  
Fixed Capital Formation

Researchers have written chain of research papers about the dynamics of financial development and economic growth. The financial capital plays a productive role when it delivers to economic agents who are facing shortage or excess of funds.  This study explores the linkages among Islamic financing and economic growth for Pakistan, by using annual time series data from 2005-2018. Islamic banks’ financing funds used as a proxy of Islamic financing, Gross Domestic Product (GDP), Gross Fixed Capital Formation (GFCF), labor force (LF),Broad money(M) and Trade openness (TO) to presents real sector of an economy. For the exploration, the unit root test, Ordinary least square technique and Granger causality test are applied. The results validate a substantial causal relationship of Islamic financing and GDP, which supports the Schumpeter’s supply-leading view. The results indicate that Islamic finance contributed towards economic growth.  

scholarly journals AN ANALYTICAL STUDY OF TOTAL FDI INFLOW, OUTFLOW AND NET FDI OF FIVE SOUTH ASIAN COUNTRIES OVER THE PERIOD 1992–2019

2021 ◽  
pp. 417-435
Author(s):  
Sushanta Kumar Tarai ◽  
Prof. Sudhakar Patra
Keyword(s):  
Sri Lanka ◽  
South Asian ◽  
Analytical Study ◽  
Time Series Data ◽  
Secondary Data ◽  
Series Data ◽  
Asian Countries ◽  
Causality Test ◽  
Development Indicators ◽  
The World Bank

This present research aims to analyze the total FDI inflow, outflow and net FDI of five South Asian countries over the period 1992–2019.This study is based on 28years Time series data taken from the World Bank Development Indicators. In order to compare the FDI inflow, outflow and net FDI inflow of India, Pakistan, Sri Lanka, Bangladesh, Nepal over the period 1992–2019,both descriptive and inferential statistical tools such as correlation test, paired t test, the familiar linear regression model, Granger-Causality test, percentage analysis and tables, are used for analysis, hypothesis testing and interpretation of data. This study used various secondary data. Economic development of the developing countries like India, Pakistan, Sri Lanka, Bangladesh, and Nepal largely rely on FDI. However, the study also reveals that in the last two decades, India received 23 times more FDI than Bangladesh, Pakistan, Sri Lanka and Nepal. For attracting more FDI, these nations require to create more congenial and favorable atmosphere towards the foreign investors. It is also concluded that the after implementing make in India campaign investing countries in total FDI inflow are increased. KEYWORDS: FDI inflow, FDI outflow, GDP growth.

A Sectoral Analysis of the Role of Stock Market Development on Economic Growth: Empirical Evidence from Indian Economy

2017 ◽  
Vol 18 (4) ◽  
pp. 911-923 ◽  
Author(s):  
Madhu Sehrawat ◽  
A.K. Giri
Keyword(s):  
Economic Growth ◽  
Stock Market ◽  
Stock Prices ◽  
Stock Price ◽  
Time Series Data ◽  
Trade Openness ◽  
Series Data ◽  
Causality Test ◽  
Long Run ◽  
Short Run

The present study examines the relationship between Indian stock market and economic growth from a sectoral perspective using quarterly time-series data from 2003:Q4 to 2014:Q4. The results of the autoregressive distributed lag (ARDL) approach bounds test confirm the existence of a cointegrating relationship between sector-specific gross domestic product (GDP) and sector-specific stock indices. The empirical results reveal that sector-specific economic growth are significantly influenced by changes in the respective sector-specific stock price indices in the long run as well as in the short run. Apart from that, the control variables, such as trade openness and inflation, act as the instrument variables in explaining the variations in the sector-specific GDP of the economy. The results of Granger causality test demonstrate unidirectional long-run as well as short-run causality running from sector specific stock prices to respective sector GDP. The findings suggest that economic growth of the country is sensitive to respective sub-sector stock market investments. The findings highlight the reasons for cyclical and counter-cyclical business phase for the overall economy.

scholarly journals The Financial Development-Renewable Energy Consumption Nexus in the Case of Azerbaijan

Energies ◽  
2020 ◽  
Vol 13 (23) ◽  
pp. 6265
Author(s):  
Shahriyar Mukhtarov ◽  
Sugra Humbatova ◽  
Natig Gadim-Oglu Hajiyev ◽  
Sannur Aliyev
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Time Series Data ◽  
Policy Implications ◽  
Small Samples ◽  
Series Data ◽  
Energy Prices ◽  
Renewable Energy Consumption

This article analyzed the relationship between financial development, renewable energy consumption, economic growth, and energy prices in Azerbaijan by employing time series data for the time span of 1993–2015. The autoregressive distributed lagged (ARDL) technique was applied in empirical estimations, because it performs better than all the alternative techniques in small samples, which was the case here in this article. The results of estimation found that there is a positive and statistically significant influence of financial development and economic growth on renewable energy consumption, whereas the prices of energy proxied by CPI have an adverse impact on renewable energy consumption in Azerbaijan. Also, estimation results demonstrated that a 1% rise in financial development, proxied by domestic credit as a percentage of GDP, and economic growth increase renewable energy consumption by 0.16% and 0.60%, respectively. The different financial development impacts on renewable energy consumption and related policy implications were also introduced.

scholarly journals Infrastructure, Human Capital and Industrialization in Nigeria

2017 ◽  
Vol 3 (6) ◽  
pp. 58
Author(s):  
Udah E. B. ◽  
Ebi Bassey
Keyword(s):  
Human Capital ◽  
Industrial Development ◽  
Time Series Data ◽  
Trade Openness ◽  
Ordinary Least Squares ◽  
Minimum Variance ◽  
Historical Background ◽  
Series Data ◽  
Domestic Investment ◽  
Causality Test

The objective of this paper had been to shed light on the importance of infrastructure and human capital on industrialization in Nigeria using time series data from 1970 to 2014. The methodology adopted in this paper was first to trace the historical background of the data using such tests as mean, minimum and maximum values, standard deviation, skewness, kurtosis and Jarque-Bera tests. Second, in order to smoothen the data and reduce white noise, the paper adopted Augmented Dickey-Fuller and Phillips-Perron tests for unit root and for co-integration, the paper used Engle-Granger two-step procedure and Johansen method. The paper captured the interrelationship among the variables with Pairwise Granger causality test. Thirdly, the paper proceeded to use Ordinary Least Squares (OLS) estimation technique. The co-integration tests using Engle-Granger two-step and Johansen methods showed that the series are co-integrated, thus, the use of OLS satisfies the Best Linear Unbiased Estimator (BLUE) with minimum variance property. The parsimonious results suggest that gross domestic investment, electricity supply and trade openness are the required elements to accelerate the pace of industrialization in Nigeria. This implied that providing adequate and stable supply of electricity, deepening public and private investments as well as opening the economy to the vagaries of international trade has short and long-termed lasting effect on industrial development. The policy perspective is that government should prioritize the generation and distribution of electricity, increase the quantum of investments in road infrastructure and opening of the economy in order to accelerate the pace of industrialization.

scholarly journals Do renewable energy sources improve clean environmental-economic growth? Empirical investigation from South Asian economies

2021 ◽  
pp. 014459872110022
Author(s):  
Muhammad Khalid Anser ◽  
Malik Shahzad Shabbir ◽  
Mosab I Tabash ◽  
Syed Haider Ali Shah ◽  
Munir Ahmad ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Environmental Economic ◽  
South Asian ◽  
Renewable Energy Sources ◽  
Ordinary Least Squares ◽  
Energy Sources ◽  
Least Squares Regression ◽  
Causality Test ◽  
Asian Economies

This study investigates the causal relationship between renewable energy sources and clean environmental economic growth among South Asian economies. This study comprises the panel data sets for eight (8) South Asian countries, and data start from 2003 to 2017. This study implies a Hausman test to identify which particular tests are more suitable and selected a fixed effect test and granger causality test for effective analysis perspective. Moreover, this study further relies on the panel vector error correction model (PVECM) test to suggest for long-run relationship existence among variables. Furthermore, the evaluation of the panel and the dynamic ordinary least squares regression shows that the production of renewable energy has compelled an effect on economic growth. While other sources of energy for instance, hydropower, geothermal, wind, and solar, have valuable and considerable influence on the economic growth of South Asian economies. The results reveal with these remarks the existence of positive associations among productions of renewable energies, energy dependence, and gross domestic product per capita. The obtained results reveal that renewable energy sources show a momentous effect on the economic growth of South Asian economies.

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