Conceptualizing Pathways of Sustainable Development in the Union for the Mediterranean Countries with an Empirical Intersection of Energy Consumption and Economic Growth

Rashid Latief, Yusheng Kong, Yuanyuan Peng and Sohail Ahmad Javeed
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Rashid Latief: School of Finance and Economics, Jiangsu University, Zhenjiang 212013, China
Yusheng Kong: School of Finance and Economics, Jiangsu University, Zhenjiang 212013, China
Yuanyuan Peng: Department of Agricultural Economics, Purdue University, West Lafayette, IN 47909, USA
Sohail Ahmad Javeed: College of Finance, Nanjing Agricultural University, Nanjing 210095, China

IJERPH, 2020, vol. 17, issue 15, 1-20

Abstract: The availability of sufficient and trustworthy energy services at the reasonable cost in a securely and environmentally friendly manner, and conventionality with economic and social development requirements, is an important factor of sustainable development (SD). Energy plays a significant role in eliminating poverty and increasing living standards. However, most of the present energy forms of energy supply and consumption are unsustainable. This paper analyzes the association between economic growth (EG), energy consumption (EC), and sustainable development (SD) among other economic factors. The sample of 14 developed and developing member states of the Union for the Mediterranean (UFM) was selected. To deal with the endogeneity issue, the system- generalized method of moment (GMM) model was employed. Moreover, panel co-integration, Granger causality tests, and robustness tests were employed to examine the long-run and short-run causality among variables of interest. The results confirmed the short-run dynamic association from sustainable development (SD) to energy consumption (EC), and economic growth (EG) to sustainable development (SD). Moreover, the results validated the presence of long-run equilibrium association in the equations of EC and sustainable development (SD). The findings of this study will be supportive for the policymakers to formulate sustainable energy policies to stimulate the economic growth (EG) in the way of sustainable development (SD) in the UFM countries.

Keywords: energy consumption (EC); sustainable development (SD); economic growth (EG) (search for similar items in EconPapers)
JEL-codes: I I1 I3 Q Q5 (search for similar items in EconPapers)
Date: 2020
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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