The Determinants of Renewable Energy Production– A Global Study on Panel Data
Journal Title: Pakistan Journal of Economic Studies - Year 2024, Vol 7, Issue 1
Abstract
Objective: Due to the environmental concerns as a result of the utilization of dirty fuel, globally the nations are actively pursuing the transition toward Renewable Energy (RE). Therefore, to mitigate the CO2 emissions and address the energy security, the deployment of RE is the ultimate solution, hence identifying the drivers of RE is imperative. Research Gap: However, the focus of the earlier studies was on the determinants of RE consumption (REC) whereas the focus of this study is on the determinants of RE production (REP). The REP represents the supply side of economics and excludes the energy import, transmission and distribution losses Design/Methodology/Approach:. The study is based on global panel data of 133 countries from 1990 to 2020 and applies panel data estimation techniques. The Main Findings: The study revealed that economic variables such as GDP per capita and trade openness, as well as demographic (urban population), drive the REP. Conversely, energy-related variables, i.e., electricity generation from coal, oil, natural gas and nuclear sources slow down the adoption of RE. Similarly, the relationship between REP and CO2 emissions per capita, used as a proxy for the environment is negative, which is interesting and it can inferred that the lobby elements for favoring the utilization of fossil fuel bars the deployment of RE. Theoretical / Practical Implications of the Findings: This study is helpful for policymakers and researchers in understanding the dynamics of the determinants and making an informed decision while devising energy policies.
Authors and Affiliations
Hayat Muhammad, Muhammad Tariq Majeed
Keywords
Related Articles
- EP ID EP735743
- DOI -
- Views 42
- Downloads 1
Impact of Cashless Economic Policy and Financial Inclusiveness in Nigeria: An Empirical Investigation
This study empirically investigated the impact of cashless economic policy and financial inclusiveness in Nigeria. The cross-section survey and descriptive statistics were used as the research design. The primary data wa...
The Determinants of Renewable Energy Production– A Global Study on Panel Data
Objective: Due to the environmental concerns as a result of the utilization of dirty fuel, globally the nations are actively pursuing the transition toward Renewable Energy (RE). Therefore, to mitigate the CO2 emissions...
Public Finance and Role of Structural Determinants of Potential Output Growth in Emerging Asia
Potential output is significant in anticipating the longer-term direction of the economy. Its relevance in predicting arises from the fact that, over the longer term, actual output tends to move in line...
Regional Institutional Barriers and Trade Outcomes: A New Empirical Evidence from Developing Economies of Four Continents
Objective: This study aims to explore the path of traditional nexus i.e. Trade Policy and Growth by using new road to development in which economic geography seems to be the driving force in institutional building and ul...
The Corporate Governance, Dividend Payout, and Ownership Structure: Evidence From Pakistan Non-Financial Listed Firms
This study examines the impact of corporate governance on the Pakistan Stock Exchange non-financial sector dividend payment ratio. Research demonstrates that certain features or elements moderate organizations and indust...