Impact of income inequality on renewable energy demand in south Asian economies

Mantu Kumar Mahalik, Gupteswar Patel, Bimal Kishore Sahoo and Mohammad Mafizur Rahman

Energy Policy, 2023, vol. 180, issue C

Abstract: The demand for renewable energy is growing worldwide due to environmental degradation. However, in poor countries, the use of renewable energy may be impeded by the level of poverty and income inequality. Therefore, this paper studies the income inequality impact on renewable energy demand in seven South Asian economies by using the balanced panel data from 1996 to 2018. The study employs generalized methods of moments (GMM) estimation technique followed by other econometric approaches to check the robustness of findings. The renewable energy demand function includes economic growth, carbon emissions, and government effectiveness as control variables. The study has found the adverse effects of income inequality, economic growth, and carbon emissions on renewable energy demand. Government effectiveness also drives renewable energy use. The findings are robust and reliable concerning panel data methods used in the analysis. These findings bear important policies for a sustainable environment in South Asian economies.

Keywords: Renewable energy; Income inequality; Panel data method; South asian economies (search for similar items in EconPapers)
JEL-codes: C23 E24 O53 Q21 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:enepol:v:180:y:2023:i:c:s0301421523002136

DOI: 10.1016/j.enpol.2023.113628

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