The Nexus between Renewable Energy Consumption and Economic Growth: Empirical Evidence from Jordan

Omar Alkasasbeh, Ohoud Khasawneh and Amro Alzghoul
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Omar Alkasasbeh: Faculty of Business, Amman Arab University, Amman, Jordan
Ohoud Khasawneh: Faculty of Business, Amman Arab University, Amman, Jordan
Amro Alzghoul: Faculty of Business, Amman Arab University, Amman, Jordan

International Journal of Energy Economics and Policy, 2023, vol. 13, issue 2, 194-199

Abstract: Existing literature on the relationship between renewable energy and economic growth yields mixed outcomes, since the impact of renewable energy consumption on economic growth can be negative, positive or insignificant. Using the autoregressive distributed lag (ARDL) method, this paper examines the nexus between renewable energy and economic growth in Jordan from 2000 to 2020, utilizing renewable electricity output (REO), renewable energy consumption (REC), and gross domestic product (GDP). Utilizing the Dickey Fuller (ADF) and Philips Perron (PP) unit root tests, the levels or differences of the stationary variables were explored. The statistically robust findings reveal that renewable energy usage has a substantial positive economic effects. The results indicate that stakeholders (including energy planners, governments, and private sector organizations) must collaborate to increase investment in renewable energy to secure long-term economic growth.

Keywords: ARDL; Climate; Economic Growth; greenhouse gas (search for similar items in EconPapers)
JEL-codes: C24 O13 Q2 Q43 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

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Persistent link: https://EconPapers.repec.org/RePEc:eco:journ2:2023-02-20

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