Does Financial Development and Renewable Energy Matter for Economic Development? A Study of Emerging Economies

Kais Saidi ()
Additional contact information
Kais Saidi: Street of Airport

Journal of the Knowledge Economy, 2024, vol. 15, issue 2, No 165, 9322-9338

Abstract: Abstract Using panel data from emerging nations from 1990 to 2019, we evaluated the impact of financial development and renewable energy usage on economic growth. We used the panel unit root test, panel cointegration test, FMOLS and DOLS methods, and the VECM causal Granger technique to do this. The results of the cointegration test show that the variables are in short- and long-term equilibrium. Furthermore, the FOMLS and DOLS findings show that FDI, REC, and FD have a favorable and significant impact on economic growth in emerging economies. In the short and long run, the VECM results reveal that there is a stable two-way relationship between financial development and economic growth. The findings also suggest that renewable energy use in emerging countries may have a long-term impact on growth rates. Furthermore, there is a one-way relationship in the countries between financial prosperity and renewable energy.

Keywords: Financial development; Renewable energy; Economic growth; Emerging countries (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://link.springer.com/10.1007/s13132-023-01443-1 Abstract (text/html)
Access to the full text of the articles in this series is restricted.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:jknowl:v:15:y:2024:i:2:d:10.1007_s13132-023-01443-1

Ordering information: This journal article can be ordered from
http://www.springer.com/economics/journal/13132

DOI: 10.1007/s13132-023-01443-1

Access Statistics for this article

Journal of the Knowledge Economy is currently edited by Elias G. Carayannis

More articles in Journal of the Knowledge Economy from Springer, Portland International Center for Management of Engineering and Technology (PICMET)
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().