EconPapers    
Economics at your fingertips  
 

Considering the effect of biomass energy consumption on economic growth: Fresh evidence from BRICS region

Muhammad Shahbaz (), Ghulam Rasool, Khalid Ahmed () and Mantu Mahalik ()

Renewable and Sustainable Energy Reviews, 2016, vol. 60, issue C, 1442-1450

Abstract: This paper investigates the relationship between biomass energy consumption and economic growth by incorporating capital and trade openness in production function for the case of BRICS countries. In doing so, unit root and cointegration tests have been used in order to examine unit root properties and long run relationship between the series for the period of 1991Q1–2015Q4. The results confirm the presence of long-run equilibrium relationship between the variables. Moreover, biomass energy consumption stimulates economic growth. Capital increments economic growth and trade openness spurs economic growth. The feedback effect exists between biomass energy consumption and economic growth. Trade openness Granger causes economic growth, capital and biomass energy consumption. The policy to adopt biomass as the primary source of renewable energy helps BRICS countries to achieve sustainable development goal in both short-run and long-run. However, the key innovative point of this study is to establish the sign for Granger causality test.

Keywords: Biomass energy; Growth; Capital; Trade (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14) Track citations by RSS feed

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1364032116002720
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Considering the effect of biomass energy consumption on economic growth:fresh evidence from BRICS region (2016) Downloads
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:rensus:v:60:y:2016:i:c:p:1442-1450

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/600126/bibliographic
http://www.elsevier. ... 600126/bibliographic

DOI: 10.1016/j.rser.2016.03.037

Access Statistics for this article

Renewable and Sustainable Energy Reviews is currently edited by L. Kazmerski

More articles in Renewable and Sustainable Energy Reviews from Elsevier
Bibliographic data for series maintained by Dana Niculescu ().

 
Page updated 2020-04-04
Handle: RePEc:eee:rensus:v:60:y:2016:i:c:p:1442-1450