Investments in Energy Conservation: Policy Implications for Pakistan

Saba Anwar, Hafsa Hina, Fahad Sultan, Muhammad Ibrahim Khan, Muzaffar Abbas and Perfecto G. Aquino
Additional contact information
Saba Anwar: Research Economist, Pakistan Institute of Development Economics, Pakistan,
Hafsa Hina: Pakistan Institute of Development Economics, Pakistan
Fahad Sultan: Institute of Business Studies and Leadership, Abdul Wali Khan University, Mardan, Pakistan,
Muhammad Ibrahim Khan: Institute of Business Studies and Leadership, Abdul Wali Khan University, Mardan, Pakistan,
Muzaffar Abbas: Department of Business Administration, Community College, Prince Sattam Bin Abdulaziz University, Alkharj, Saudi Arabia
Perfecto G. Aquino: Duy Tan University, Vietnam.

International Journal of Energy Economics and Policy, 2020, vol. 10, issue 6, 662-671

Abstract: The paper investigates the impact of energy investment on economic growth for Pakistan using Solow model. The energy is introduced as factor input in the Solow growth model along with physical capital, labor and human capital and some other policy variables. The period of analysis ranges from 1970 to 2018. The Autoregressive Distributed Lag (ARDL) approach confirms that energy investment contributes positively to economic growth both in the short and the long run along with trade openness. The study provides an important policy recommendation that government should encourage the investment activities in energy sector to meet the rising energy demand which in turn stimulates economic growth.

Keywords: Energy Investments; Economic Growth; ARDL. (search for similar items in EconPapers)
JEL-codes: O13 O47 Q43 (search for similar items in EconPapers)
Date: 2020
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