Impact of Renewable and Non-Renewable Energy on EKC in SAARC Countries: Augmented Mean Group Approach

Liton Chandra Voumik, Mohammad Iqbal Hossain, Md. Hasanur Rahman, Raziya Sultana, Rahi Dey and Miguel Angel Esquivias
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Liton Chandra Voumik: Department of Economics, Noakhali Science and Technology University, Noakhali 3814, Bangladesh
Mohammad Iqbal Hossain: Department of Economics, Noakhali Science and Technology University, Noakhali 3814, Bangladesh
Md. Hasanur Rahman: Department of Economics, Sheikh Fazilatunnesa Mujib University, Jamalpur 2000, Bangladesh
Raziya Sultana: Department of Economics, Noakhali Science and Technology University, Noakhali 3814, Bangladesh
Rahi Dey: Department of Economics, Noakhali Science and Technology University, Noakhali 3814, Bangladesh

Energies, 2023, vol. 16, issue 6, 1-19

Abstract: This study looks at the short- and long-term effects of fossil fuels, renewable energy, and nuclear energy on CO 2 emissions in the South Asian Association for Regional Cooperation (SAARC) countries from 1982 to 2021. We assess the impacts of SAARC’s current and anticipated use of nuclear, fossil, and alternative energies by testing the environmental Kuznets curve (EKC) hypothesis. The study applied the second-generation unit root test, cointegration test, and the newly introduced AMG technique to handle the presence of cross-sectional dependence. The results indicate that EKC does not hold in SAARC, and a U-shaped quadratic link exists between GDP and environmental pollution. The findings also reveal that the environmental pollution in the SAARC is caused by fossil fuel, whereas using renewable (REN) and nuclear energy can cut long-term pollution. While renewable energy is critical to minimizing environmental deterioration in SAARC, empirical findings also show that more than rising national wealth is needed to meet environmental demands. According to the results of this study, SAARC countries should take the lead in achieving sustainable growth and the efficient use of clean energy.

Keywords: environmental Kuznets curve; renewable energy source; nuclear energy; AMG approach; carbon dioxide emissions; clean energy; energy development and developing 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: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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