 How does energy resource diversification affect economic development? Evidence from BRICS economiesQiong Chen, Giray Gözgör, Hemachandra Padhan, Weibai Liu, Mantu Kumar Mahalik, Henri Njangang and Sujit Kumar Pruseth Resources Policy, 2024, vol. 98, issue C Abstract: This study explores the impact of energy diversification on economic growth in the BRICS (i.e. Brazil, Russia, India, China and South Africa) from 1995 to 2018. The study has used a newly constructed energy diversification index. The results based on the Quantile-on-Quantile (QQR) methodology demonstrate that the impact of energy diversification on the growth of the economy is heterogeneous among nations. It appears that lower and middle quantiles of the energy diversification reduce economic growth, while higher quantile of the energy diversification increases it. It is advised that the BRICS countries should develop crucial steps while transitioning from fossil fuels to renewable energy without hampering economic growth. It is further suggested that the BRICS countries need to ensure energy sustainability through effective energy diversification. Such steps will enhance economic prosperity for BRICS countries in the long run. Keywords: Energy resources diversification; Economic development; Sustainable development; BRICS economies; Quantile-on-Quantile regression (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:jrpoli:v:98:y:2024:i:c:s0301420724006536 DOI: 10.1016/j.resourpol.2024.105286 Access Statistics for this article Resources Policy is currently edited by R. G. Eggert More articles in Resources Policy from Elsevier |
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