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 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 Financial Development, Clean Energy, and Human Capital: Roadmap towards Sustainable Growth in América Latina

Energies ◽  
2021 ◽  
Vol 14 (13) ◽  
pp. 3763
Author(s):  
Pablo Ponce ◽  
José Álvarez-García ◽  
Johanna Medina ◽  
María de la Cruz del Río-Rama
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Clean Energy ◽  
Sustainable Growth ◽  
Policy Implications ◽  
Renewable Energy Consumption

The consumption of renewable energy has become a substitute for fossil fuels to mitigate environmental degradation. However, this substitution of energy raises many questions regarding its possible impact on economic growth. In this context, this research aims to examine the long-term relationship between economic growth and financial development, non-renewable energy, renewable energy, and human capital in 16 Latin American countries. Panel data techniques during the period 1988–2018 and statistical information compiled by the World Bank and Penn Word Table databases were used. Second-generation econometric techniques (cross-sectionally augmented Dickey–Fuller (CADF) and cross-sectionally augmented IPS (CIPS) were used in the work methodology, which allow the presence of cross-sectional dependence between sections to be controlled. The main results indicate that there is a long-term equilibrium relationship between financial development, non-renewable energy consumption, renewable energy consumption, human capital, and economic growth. The results show that the consumption of renewable energy does not compromise economic growth; the 1% increase in renewable energy consumption is related to the 1% increase in economic growth. The policy implications suggest some measures to ensure economic growth considering the role of green energy and human capital.

scholarly journals CO2 Emissions, Energy Consumption, and Economic Growth: New Evidence in the ASEAN Countries

2019 ◽  
Vol 12 (3) ◽  
pp. 145 ◽  
Author(s):  
Vo ◽  
Vo ◽  
Le
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Granger Causality ◽  
Co2 Emissions ◽  
Causal Effect ◽  
The Philippines ◽  
Policy Implications ◽  
Renewable Energy Consumption ◽  
Long Run

The members of the Association of Southeast Asian Nations (ASEAN) have made several attempts to adopt renewable energy targets given the economic, energy-related, environmental challenges faced by the governments, policy makers, and stakeholders. However, previous studies have focused limited attention on the role of renewable energy when testing the dynamic link between CO2 emissions, energy consumption and renewable energy consumption. As such, this study is conducted to test a common hypothesis regarding a long-run environmental Kuznets curve (EKC). The paper also investigates the causal link between carbon dioxide (CO2) emissions, energy consumption, renewable energy, population growth, and economic growth for countries in the region. Using various time-series econometrics approaches, our analysis covers five ASEAN members (including Indonesia, Myanmar, Malaysia, the Philippines, and Thailand) for the 1971–2014 period where required data are available. Our results reveal no long-run relationship among the variables of interest in the Philippines and Thailand, but a relationship does exist in Indonesia, Myanmar, and Malaysia. The EKC hypothesis is observed in Myanmar but not in Indonesia and Malaysia. Also, Granger causality among these important variables varies considerably across the selected countries. No Granger causality among carbon emissions, energy consumption, and renewable energy consumption is reported in Malaysia, the Philippines, and Thailand. Indonesia experiences a unidirectional causal effect from economic growth to renewable energy consumption in both short and long run and from economic growth to CO2 emissions and energy consumption. Interestingly, only Myanmar has a unidirectional effect from GDP growth, energy consumption, and population to the adoption of renewable energy. Policy implications have emerged based on the findings achieved from this study for each country in the ASEAN region.

scholarly journals Renewable Energy Consumption and Local Environmental Effects for Economic Growth: The Role of Financial Development and Foreign Direct Investment

2021 ◽  
Author(s):  
Itbar khan ◽  
lei han ◽  
Hayat khan
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Environmental Quality ◽  
Low Income ◽  
Carbon Emission ◽  
Renewable Energy Consumption ◽  
Middle Income ◽  
Income Groups

Abstract The use of renewable energy improves environmental quality by reducing carbon emission and influence economics growth where carbon emission also effect economic growth of a country. The economic theory of tourism also indicates that tourism development enhance economic growth though spillovers as well contribute to climate change. The inflow of FDI and financial development enhance economic growth however its also effect environmental quality. Based on the ongoing debate, the present research trying attempts to explore the effect of CO2 emission and renewable energy consumption, FDI and financial development on economic growth in different income grouped countries to know whether these impacts are the same for the low income, middle income and high income countries on economic growth? Using panel data for high income, low income & middle income countries for the period of 1980–2018, the current study found that all variables effect economic growth significantly where FDI and carbon emission are positive while renewable energy consumption and financial development are negative for economic growth in the whole sample while its differ in the income groups. These studies have shown that these variables are not the same as the economic growth of economic growth and different income groups are not the same, but it changes. In addition, the foundation of this study has a great deal of recommendations for income Group economic decision make-up.

scholarly journals A Dynamic Linkage between Financial Development, Energy Consumption and Economic Growth: Evidence from an Asymmetric and Nonlinear ARDL Model

Energies ◽  
2021 ◽  
Vol 14 (16) ◽  
pp. 5006
Author(s):  
Imran Khan ◽  
Faheem Ur Rehman ◽  
Paula Pypłacz ◽  
Muhammad Asif Khan ◽  
Agnieszka Wiśniewska ◽  
...  
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Financial Development ◽  
Time Series Data ◽  
Structural Break ◽  
Unit Root Test ◽  
Series Data ◽  
Asymmetric Effect ◽  
Nonlinear Ardl ◽  
Nonlinear Ardl Model

Developing countries, including Pakistan, need a considerable effort to withstand economic growth; however, these countries have to cope with greenhouse gases emission and other environmental concerns. Financial advancement gives rise to modern, sometimes even innovative and energy-efficient technologies and, thus, contributes to a decline in energy usage among market entities: organizations and households. The current study explores the nonlinear asymmetric relationship between economic growth (Y) and the selected exogenous variables in Pakistan by incorporating time series data spanning from 1971 to 2016. Economic growth was considered as a target variable, while energy consumption (EC), electric power consumption (EPC), financial development (FD), and energy imports (EM) were considered independent variables. To investigate cointegration among the given variables, a nonlinear ARDL bound testing approach was employed. BDS independence test was used to check the nonlinearity, and a structural break unit root test was used for testing data stationarity. The findings confirm the presence of co-integration in the selected variables. A symmetric unidirectional significant causality exists running from EPC to Y, while a bidirectional symmetric causality was found between FD and Y. In contrast, any negative shocks in EPC, FD, and EM were found to have a positive asymmetric effect on Y. Meanwhile, a neutral effect was found between EC and Y. The outcomes of this study can provide guidelines for future researchers and policymakers.

scholarly journals The relationship between energy consumption, economic growth and carbon dioxide emissions in Pakistan

2020 ◽  
Vol 6 (1) ◽  
Author(s):  
Muhammad Kamran Khan ◽  
Muhammad Imran Khan ◽  
Muhammad Rehan
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Environmental Degradation ◽  
Carbon Dioxide Emissions ◽  
Time Series Data ◽  
Renewable Energy Sources ◽  
Series Data ◽  
Energy Sources

AbstractDeveloping countries are facing the problem of environmental degradation. Environmental degradation is caused by the use of non-renewable energy consumptions for economic growth but the consequences of environmental degradation cannot be ignored. This primary purpose of this study is to investigate the nexus between energy consumption, economic growth and CO2 emission in Pakistan by using annual time series data from 1965 to 2015. The estimated results of ARDL indicate that energy consumption and economic growth increase the CO2 emissions in Pakistan both in short run and long run. Based on the estimated results it is recommended that policy maker in Pakistan should adopt and promote such renewable energy sources that will help to meet the increased demand for energy by replacing old traditional energy sources such as coal, gas, and oil. Renewable energy sources are reusable that can reduce the CO2 emissions and also ensure sustainable economic development of Pakistan.

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