Renewable energy and advanced logistical infrastructure: Carbon‐free economic development

Syed Abdul Rehman Khan, Zhang Yu, Muhammad Umar, Hafiz Muhammad Zia‐ul‐haq, Muhammad Tanveer and Laeeq Razzak Janjua

Sustainable Development, 2022, vol. 30, issue 4, 693-702

Abstract: Economic development and growth of any country strongly depend on the consumption and production system, which requires a massive amount of energy consumption. Many countries satisfy their energy demands by relying on fossil fuel consumption. Within the production system, manufacturing and logistical operations are heavily depend on fossil fuel‐based energy consumption, causing environmental degradation. Hence, economies worldwide strive to become carbon neutral; the goal is to be carbon‐free, requiring businesses in the respective countries to rely on renewable energy sources. Besides manufacturing, many countries for economic growth also depend on the tourism industry, which also requires the implementation of green policies. In this regard, economic growth, advanced logistics, tourism, and renewable energy are essential variables that need thorough empirical testing to address environmental problems. The current study uses fixed effect and random effect models to empirically test carbon‐free economic growth and international tourism through advanced logistical infrastructure and renewable energy consumption in developed countries. Findings reveal that advanced logistics infrastructure and renewable energy consumption play a crucial role in enhancing economic growth and international tourism.

Date: 2022
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https://doi.org/10.1002/sd.2266

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Persistent link: https://EconPapers.repec.org/RePEc:wly:sustdv:v:30:y:2022:i:4:p:693-702

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