Do Multi-Market Institutions and Renewable Energy Matter for Sustainable Development: A Panel Data Investigation

Najid Ahmad (), Fredj Jawadi and Muhammad Azam ()
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Najid Ahmad: Hunan University of Science and Technology
Muhammad Azam: University of Lahore

Computational Economics, 2023, vol. 62, issue 4, No 1, 1393-1411

Abstract: Abstract This paper measures the impact of multi-market institutions, renewable energy consumption, and infrastructure on sustainable development in 76 selected countries over the period 2000–2015. To this end, we applied a dynamic Ordinary Least Square method with fixed effects, which has the advantage of further addressing cross-section heterogeneity in the sample. Our findings contribute two significant findings to the literature. First, we point to the importance of multi-market institutions in driving sustainable development. Second, we find that renewable energy, economic and social infrastructure can boost sustainable development, while financial infrastructure has a reverse effect. This finding is useful to target the most effective drivers for sustainable development.

Keywords: Sustainable development; Renewable energy; Multi-market institutions; Financial infrastructure (search for similar items in EconPapers)
JEL-codes: E02 Q01 Q56 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10614-022-10302-1

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