Investigating the role of export product diversification for renewable, and non-renewable energy consumption in GCC (gulf cooperation council) countries: does the Kuznets hypothesis exist?

Tehreem Fatima, Grzegorz Mentel (), Buhari Doğan (), Zeeshan Hashim () and Umer Shahzad ()
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Tehreem Fatima: East China Jiaotong University
Grzegorz Mentel: Rzeszow University of Technology
Zeeshan Hashim: Brunel University London

Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, 2022, vol. 24, issue 6, No 41, 8397-8417

Abstract: Abstract This study explores the effects of renewable and nonrenewable energy demand on export product diversification, economic growth, natural resources, human capital, and trade in GCC (Gulf Cooperation Council) countries using data of six countries from 1990 to 2019. The empirical analysis integrates the panel unit root tests (IPS and CIPS), panel quantile regression, and fully modified OLS models. The empirical results confirm that there exists a significant negative relationship between renewable energy and export diversification; signifying that diversification of products will reduce renewable energy. Similarly, when compared to the square of export product diversification, it shows a positive and significant correlation. The empirical findings highlighted the presence of Kuznets's hypothesis between export product diversification, renewable, and non-renewable energy consumption. Furthermore, the findings suggest that natural resources and economic growth may increase overall energy consumption in GCC countries. It implies an important policy suggestion that encouraging export diversification will reduce GCC countries' reliance on oil to meet energy demand.

Keywords: Export product diversification; Renewable energy; Kuznets hypothesis; GCC countries; Panel cointegration analysis; JEL Classifications; C32; F1; F12; Q56 (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/s10668-021-01789-z

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