Do Affordable, Clean, and Modern Energy Matter for Environmental Sustainability? The Dynamic Effects of Different Strategies of Renewable Energy, Carbon Emissions, and Trade Openness on Sustainable Economic Growth

Wanli Fang () and Yijie Bian ()
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Wanli Fang: Business School of Hohai University
Yijie Bian: Business School of Hohai University

Journal of the Knowledge Economy, 2024, vol. 15, issue 2, No 170, 9440-9451

Abstract: Abstract This study offers new understanding by examining the link between environmental damage and the evolution of numerous renewable energy sources, including hydropower, wind, solar, biomass, and geothermal, as well as the economic expansion symbolized by trade openness, capital, and public spending. This study employs panel data for ten selected Asian nations using a heterogeneous technique and second-generation gadgets for econometric analysis. The results of this study confirm the positive and significant influence of renewable energy like hydropower, solar photovoltaic, wind, biomass, and geothermal on the economic growth of Asian economies. The findings of this study provide valuable insights for all stakeholders in an integrated and coherent manner. The research specifically suggests that institutional competency be improved throughout Asia. Asian nations can also support efficient capital allocation and promote investment in clean energy and transformative technology, all of which adds to sustainable growth. By extending the list of nations this research chose for their investigation, this subject can also be looked into further.

Keywords: Environmental and energy strategies; Environment pollution; Asian economies; Economic growth (search for similar items in EconPapers)
JEL-codes: D11 E12 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s13132-023-01423-5

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