Evaluating the impact of energy and environment on economic growth in BRI countries

Muhammad Noshab Hussain, Zaiyang Li, Abdul Sattar and Muhammad Ilyas

Energy & Environment, 2023, vol. 34, issue 3, 586-601

Abstract: This study investigates the impact of renewable energy consumption (REC), nonrenewable energy consumption (NREC), and carbon emissions on economic growth in 133 Belt and Road Initiative (BRI) countries from 1996 to 2020. We divided our sample into four income groups. For empirical estimation, this study employs panel quantile regression (PQR), and fully modified ordinary least squares (FMOLS) estimation techniques. The results confirm that REC have a positive impact on economic growth and NREC has a negative impact on economic growth. A 1% increase in REC and carbon emissions results in an increase in economic growth of 0.108% and 1.085%, respectively. A 1% increase in NREC reduces economic growth by 0.263% in the full sample countries. There are regional differences, although NREC has a positive impact on economic growth in all income groups in the long run. These novel empirical findings will help policymakers design energy policies to fulfill the target of economic growth in BRI countries.

Keywords: Renewable energy; nonrenewable energy; carbon emissions; economic growth; belt and road initiative (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:sae:engenv:v:34:y:2023:i:3:p:586-601

DOI: 10.1177/0958305X211073805

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