Analyzing the Effects of Renewable and Non-renewable Energy Consumption on the Environment and Economic Growth: Panel Data from South Asian Countries

Muhammad Ali Husnain, Ping Guo, Guoqin Pan, Muhammad Kamran Bhatti and Rabia Islam
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Muhammad Ali Husnain: School of Economics and Trade, Hunan University, Changsha 410006, China
Ping Guo: School of Economics and Trade, Hunan University, Changsha 410006, China
Guoqin Pan: School of Economics and Trade, Hunan University, Changsha 410006, China
Muhammad Kamran Bhatti: School of Economics and Trade, Hunan University, Changsha 410006, China
Rabia Islam: The College of History, Nankai University, Tianjin, China

Energy Technologies and Environment, 2024, vol. 2, issue 1, 1-13

Abstract: The primary goal of this research is to examine how different types of energy are used in South Asian countries and how they affect the environment and economic growth. From 1990 through 2021, this research employed Panel Data from multiple sources covering the South Asian countries of Pakistan, India, Bangladesh, Sri Lanka, Nepal, Bhutan, Maldives, and Afghanistan. The results are determined by using the Fixed Effect Regression (FEM) technique in both models. Several significant findings are supported by the data. First, while using renewable energy flattens carbon dioxide effusion, using non-renewable energy sources increases it. CO2 emissions are affected negatively by gross domestic product but positively by gross domestic product square. These results provide credence to the idea that South Asian countries do experience an Environment Kuznets Curve. Furthermore, foreign direct investment has a beneficial effect on CO2 emissions, lending credence to the Pollution Haven Hypothesis. Model 2 instead finds that both renewable and non-renewable energy consumption contributes to economic expansion. Gross Fixed Capital Formation and foreign direct investment also contribute to economic growth in this area. Finally, Inflation retards economic expansion.

Keywords: Renewable Energy; Non-Renewable Energy; Fixed Effect; Economic Growth; South Asia (search for similar items in EconPapers)
Date: 2024
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