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Exploring the Relationship between Renewable Energy Sources and Economic Growth. The Case of SAARC Countries

Qiucheng Li (), Jacob Cherian (), Malik Shahzad Shabbir (), Muhammad Safdar Sial (), Jing Li (), Ioana Mester and Alina Badulescu ()
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Qiucheng Li: Economics and Management School, Wuhan University, Wuhan 430072, China
Jacob Cherian: College of Business, Abu Dhabi University, Abu Dhabi 59911, UAE
Malik Shahzad Shabbir: Lahore Business School, University of Lahore, Lahore 54000, Pakistan
Muhammad Safdar Sial: Department of Management Sciences, COMSATS University Islamabad (CUI), Islamabad 44000, Pakistan
Jing Li: School of Accounting, Guangdong University of Finance & Economics Guangzhou, Guangdong 510320, China
Ioana Mester: Department of Economics and Business, Faculty of Economic Sciences, University of Oradea, 410087 Oradea, Romania

Energies, 2021, vol. 14, issue 3, 1-14

Abstract: The purpose of this study is to examine the relationship between renewable energy sources and economic growth of the South Asian Association for regional cooperation (SAARC) countries. This study uses three main renewable energy sources, namely geothermal, hydro, and wind.This study collects data set from SAARC countries from 1995 to 2018 and applies a fixed effect test and panel vector error correction model (PVECM) for data analysis. The overall results show that all three renewable energy sources have a positive significant impact on economic development among SAARC countries’ economies. Moreover, hydropower renewable energy has more effects and influences on economic growth as compared to the other two individual sources of renewable energy.

Keywords: renewable energy sources; sustainable economic growth; SAARC countries (search for similar items in EconPapers)
JEL-codes: Q Q0 Q4 Q40 Q41 Q42 Q43 Q47 Q48 Q49 (search for similar items in EconPapers)
Date: 2021
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