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

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. Thi...

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Bibliographic Details
Published inJournal of the knowledge economy Vol. 15; no. 2; pp. 9440 - 9451
Main Authors Fang, Wanli, Bian, Yijie
Format Journal Article
LanguageEnglish
Published New York Springer US 01.06.2024
Springer Nature B.V
Subjects
Alternative energy sources
Biomass
Carbon
Economic expansion
Economic growth
Economic Policy
Economics
Economics and Finance
Emissions
Entrepreneurship
Hydroelectric power
R & D/Technology Policy
Renewable resources
Sustainable development
Asia
Environmental and energy strategies
Environment pollution
Asian economies
Economic growth
D11
E12
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Summary: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.
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ISSN:1868-7873
1868-7865
1868-7873
DOI:10.1007/s13132-023-01423-5