LAPSE:2023.29207
Published Article
LAPSE:2023.29207
Exploring the Relationship between Renewable Energy Sources and Economic Growth. The Case of SAARC Countries
April 13, 2023
Abstract
The purpose of this study is to examine the relationship between renewable energy sources and economic growth of the South Asian Association for regional cooperation (SAARC) countries. This study uses three main renewable energy sources, namely geothermal, hydro, and wind.This study collects data set from SAARC countries from 1995 to 2018 and applies a fixed effect test and panel vector error correction model (PVECM) for data analysis. The overall results show that all three renewable energy sources have a positive significant impact on economic development among SAARC countries’ economies. Moreover, hydropower renewable energy has more effects and influences on economic growth as compared to the other two individual sources of renewable energy.
The purpose of this study is to examine the relationship between renewable energy sources and economic growth of the South Asian Association for regional cooperation (SAARC) countries. This study uses three main renewable energy sources, namely geothermal, hydro, and wind.This study collects data set from SAARC countries from 1995 to 2018 and applies a fixed effect test and panel vector error correction model (PVECM) for data analysis. The overall results show that all three renewable energy sources have a positive significant impact on economic development among SAARC countries’ economies. Moreover, hydropower renewable energy has more effects and influences on economic growth as compared to the other two individual sources of renewable energy.
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Keywords
renewable energy sources, SAARC countries, sustainable economic growth
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Suggested Citation
Li Q, Cherian J, Shabbir MS, Sial MS, Li J, Mester I, Badulescu A. Exploring the Relationship between Renewable Energy Sources and Economic Growth. The Case of SAARC Countries. (2023). LAPSE:2023.29207
Author Affiliations
Li Q: Economics and Management School, Wuhan University, Wuhan 430072, China
Cherian J: College of Business, Abu Dhabi University, Abu Dhabi 59911, UAE [ORCID]
Shabbir MS: Lahore Business School, University of Lahore, Lahore 54000, Pakistan [ORCID]
Sial MS: Department of Management Sciences, COMSATS University Islamabad (CUI), Islamabad 44000, Pakistan
Li J: School of Accounting, Guangdong University of Finance & Economics Guangzhou, Guangdong 510320, China
Mester I: Department of Economics and Business, Faculty of Economic Sciences, University of Oradea, 410087 Oradea, Romania
Badulescu A: Department of Economics and Business, Faculty of Economic Sciences, University of Oradea, 410087 Oradea, Romania [ORCID]
Cherian J: College of Business, Abu Dhabi University, Abu Dhabi 59911, UAE [ORCID]
Shabbir MS: Lahore Business School, University of Lahore, Lahore 54000, Pakistan [ORCID]
Sial MS: Department of Management Sciences, COMSATS University Islamabad (CUI), Islamabad 44000, Pakistan
Li J: School of Accounting, Guangdong University of Finance & Economics Guangzhou, Guangdong 510320, China
Mester I: Department of Economics and Business, Faculty of Economic Sciences, University of Oradea, 410087 Oradea, Romania
Badulescu A: Department of Economics and Business, Faculty of Economic Sciences, University of Oradea, 410087 Oradea, Romania [ORCID]
Journal Name
Energies
Volume
14
Issue
3
First Page
520
Year
2021
Publication Date
2021-01-20
ISSN
1996-1073
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Original Submission
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PII: en14030520, Publication Type: Journal Article
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LAPSE:2023.29207
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https://doi.org/10.3390/en14030520
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