Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries

The stage of economic development of a country will have an impact on the essence of life in welcoming changes in the economic pattern in the future. Especially in the energy sector, currently almost all countries are actively trying to achieve an energy transition to support the sustainability of a...

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Published in:International Journal of Energy Economics and Policy
Main Author: Satrianto A.; Ikhsan A.; Samad K.A.
Format: Article
Language:English
Published: Econjournals 2024
Online Access:https://www.scopus.com/inward/record.uri?eid=2-s2.0-85198968733&doi=10.32479%2fijeep.15981&partnerID=40&md5=9445fa29d7258f4326769d89d4c86bbb
id 2-s2.0-85198968733
spelling 2-s2.0-85198968733
Satrianto A.; Ikhsan A.; Samad K.A.
Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries
2024
International Journal of Energy Economics and Policy
14
4
10.32479/ijeep.15981
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85198968733&doi=10.32479%2fijeep.15981&partnerID=40&md5=9445fa29d7258f4326769d89d4c86bbb
The stage of economic development of a country will have an impact on the essence of life in welcoming changes in the economic pattern in the future. Especially in the energy sector, currently almost all countries are actively trying to achieve an energy transition to support the sustainability of a clean and orderly environment. Therefore, this research focuses renewable energy, environmental quality and energy consumption on economic growth in 30 developing countries using panel data model with a Fixed Effects Approach. The results show that renewable energy and environmental quality variables contribute significantly to economic growth, while energy consumption does not have a significant effect. At this stage, facilities for developing renewable energy must be expanded in terms of infrastructure capacity and financing so that they are supported by government policy. Then, macroeconomic variables such as foreign direct investment and population have a significant effect on economic growth, while trade oppenes and labor force variables do not have a significant effect on economic growth in developing countries, adding to the indication and reference of the importance of balance in achieving the energy transition and macroeconomic policies that have an impact on progress economy. © 2024, Econjournals. All rights reserved.
Econjournals
21464553
English
Article

author Satrianto A.; Ikhsan A.; Samad K.A.
spellingShingle Satrianto A.; Ikhsan A.; Samad K.A.
Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries
author_facet Satrianto A.; Ikhsan A.; Samad K.A.
author_sort Satrianto A.; Ikhsan A.; Samad K.A.
title Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries
title_short Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries
title_full Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries
title_fullStr Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries
title_full_unstemmed Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries
title_sort Analysis of Renewable Energy, Environment Quality and Energy Consumption on Economic Growth: Evidence from Developing Countries
publishDate 2024
container_title International Journal of Energy Economics and Policy
container_volume 14
container_issue 4
doi_str_mv 10.32479/ijeep.15981
url https://www.scopus.com/inward/record.uri?eid=2-s2.0-85198968733&doi=10.32479%2fijeep.15981&partnerID=40&md5=9445fa29d7258f4326769d89d4c86bbb
description The stage of economic development of a country will have an impact on the essence of life in welcoming changes in the economic pattern in the future. Especially in the energy sector, currently almost all countries are actively trying to achieve an energy transition to support the sustainability of a clean and orderly environment. Therefore, this research focuses renewable energy, environmental quality and energy consumption on economic growth in 30 developing countries using panel data model with a Fixed Effects Approach. The results show that renewable energy and environmental quality variables contribute significantly to economic growth, while energy consumption does not have a significant effect. At this stage, facilities for developing renewable energy must be expanded in terms of infrastructure capacity and financing so that they are supported by government policy. Then, macroeconomic variables such as foreign direct investment and population have a significant effect on economic growth, while trade oppenes and labor force variables do not have a significant effect on economic growth in developing countries, adding to the indication and reference of the importance of balance in achieving the energy transition and macroeconomic policies that have an impact on progress economy. © 2024, Econjournals. All rights reserved.
publisher Econjournals
issn 21464553
language English
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