EconPapers    
Economics at your fingertips  
 

The dynamic links among energy transitions, energy consumption, and sustainable economic growth: A novel framework for IEA countries

Irfan Khan, Fujun Hou, Abdulrasheed Zakari and Vincent Konadu Tawiah

Energy, 2021, vol. 222, issue C

Abstract: The role of renewable energy in protecting the environment is well established. This study explores the dynamic links among energy transitions, energy consumption, and sustainable economic growth in thirty-eight International Energy Agency (IEA) countries. We apply advanced econometric methodologies for empirical analysis from 1995 to 2015 and find long-run relationships among the variables. However, the effect of energy transitions on economic growth is significant only in the long run, and economic sustainability influences economic growth in both the short run and the long run. Moreover, the energy transition is negatively associated with host countries’ economic growth, while economic sustainability, renewable energy consumption, non-renewable energy consumption, labor, and capital are positively related to that growth. Policymakers in the IEA countries are encouraged to settle carbon costs and taxation, provide continuous support to research and development, commercialize low–CO2–emission technologies, reduce subsidies on non-renewable energy, offer cooperative programs for technology transfers, and generate a green trade policy to procure sustainable development. Study limitations and directions for future research in the area are presented.

Keywords: Energy transitions; Economic sustainability; Energy consumptions; Economic growth; IEA countries (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0360544221001845
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:energy:v:222:y:2021:i:c:s0360544221001845

DOI: 10.1016/j.energy.2021.119935

Access Statistics for this article

Energy is currently edited by Henrik Lund and Mark J. Kaiser

More articles in Energy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().

 
Page updated 2021-09-11
Handle: RePEc:eee:energy:v:222:y:2021:i:c:s0360544221001845