Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2121741
Renewable energy and economic growth hypothesis: Evidence from N-11 countries
Peijun Xie
Zili Zhu
Guangyun Hu
Jun Huang
Sažetak
In the recent years, the trend of environmental sustainability is
rapidly increasing by adopting renewable energy resources.
However, the main concern is that whether renewable energy
consumption contributes to economic growth. To investigate the
issue, this study analyzes renewable energy led economic growth
hypothesis in the Next-11 economies over the period 1990–2020.
Also, this study aims to examine the influence of industry value
added, gross national expenditure, and trade openness on economic
growth of these economies. Along with the second-generation
panel unit root test, this study employed the nonparametric
panel data approach, i.e., quantile method of moments
regression. The estimated results reveal the slopes coefficients are
heterogeneous and cross-sectional dependency is present in the
panel. The non-parametric approach reveals that validity of
renewable energy led growth hypothesis. Also, the industry value
added, gross national expenditure, and trade openness are found
positively affecting economic growth of these economies. The
panel causality test gives indication of the two way causal association
between the variables. Based on the obtained results, policy
implications are also provided for governors and researchers.
Ključne riječi
Economic growth; renewable energy; industry value added; national expenditure; nonparametric; Next-11
Hrčak ID:
306474
URI
Datum izdavanja:
31.3.2023.
Posjeta: 248 *