Renewable Energy, Foreign Direct Investment and Sustainable Development: An Empirical Evidence

Narayan Parab, Ramashanti Naik and Y. V. Reddy
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Narayan Parab: Dnyanprassarak Mandal s College and Research Centre, Goa, India,
Ramashanti Naik: Goa Business School, Goa University, Goa 403206, India,
Y. V. Reddy: Goa Business School, Goa University, Goa 403206, India,

International Journal of Energy Economics and Policy, 2020, vol. 10, issue 5, 479-484

Abstract: Renewable energy is replenished on a human timescale. The concern for the use of renewable energy is growing across the globe due to depleting non-renewable sources and various environmental issues. We construct a model of sustainable development to demonstrate the causality and co-integration between FDI inflows and renewable energy consumption. We consider data of select 43 countries for the period 2005 to 2017 and apply panel data analysis. The results reveal a unidirectional causality from renewable energy consumption to FDI inflows and the presence of a long-run relationship. Consequently, the constructed model will assist the government, non-government organizations, and companies in evaluating the significance of renewable energy and FDI inflows in sustainable development.

Keywords: Renewable Energy; Foreign Direct Investment; Sustainable Development; Causation Effect; Co-integration (search for similar items in EconPapers)
JEL-codes: F14 F21 F23 Q2 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (4)

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