The Impact of Renewable Energy on Economic Well-Being of Malaysia: Fresh Evidence from Auto Regressive Distributed Lag Bound Testing Approach

Muhammad Haseeb, Irwan Shah Zainal Abidin, Qazi Muhammad Adnan Hye and Nira Hariyatie Hartani
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Muhammad Haseeb: Taylor s Business School, Taylors University Lakeside Campus, 1 Jalan Taylors, 47500 Subang Jaya Selangor Malaysia,
Irwan Shah Zainal Abidin: Asian Research Institute of Banking and Finance, University Utara Malaysia, Sintok 06010 Kedah Malaysia,
Qazi Muhammad Adnan Hye: Mohammed Ali Jinnah University Karachi, Pakistan,
Nira Hariyatie Hartani: School of Government, College of Law, Government and International Studies, Universiti Utara Malaysia, Sintok 06010 Kedah, Malaysia

International Journal of Energy Economics and Policy, 2019, vol. 9, issue 1, 269-275

Abstract: This present study examines the role of renewable energy in influencing economic well-being in Malaysia. We used annual data over the period of 1980 to 2016 in order to apply recent econometrics. The study used renewable energy and economic growth as a proxy of economic well-being to examine the long run connection between renewable energy and economic well-being. The results of ARDL bound testing approach confirm the valid long-term connection among renewable energy and economic well-being in Malaysia. Furthermore, the results indicate that renewable energy have significant and positive impact on economic well-being in short and long run. It is therefore recommended that the policymakers are required to focus on the green energy generation sector by increasing renewable energy production from the existing sources.

Keywords: Renewable energy; economic well-being; ARDL bound testing; Malaysia. (search for similar items in EconPapers)
JEL-codes: I31 Q22 Q52 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (12)

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