The Dynamics of R&D Expenditure, Renewable Electricity Production, and Economic Growth: A Comparative Analysis of Norway and Brazil
Journal Title: Journal of Sustainability for Energy - Year 2024, Vol 3, Issue 2
Abstract
In the quest to secure energy supply and mitigate dependence on imported fossil fuels, nations are diversifying into renewable energy sources (RES). This study investigates the impact of renewable electricity production on economic growth, alongside the interplay with research and development (R&D) expenditures, through a comparative lens focusing on Norway and Brazil—both pioneers in the renewable energy arena. Analysis incorporates per capita R&D expenditures to gauge the nexus between renewable energy initiatives and R&D investment, employing data spanning from 2003 to 2014. The investigation reveals a notable divergence between the two nations. In Norway, no significant link was identified between the volume of renewable energy produced and per capita R&D expenditures. Nonetheless, a causal connection between economic growth and R&D investment was observed, with a robust correlation suggesting a profound influence of economic expansion on R&D activities. Contrarily, Brazil's scenario delineates a unidirectional causal relationship where economic growth positively influences the renewable energy sector, with no discernible association between R&D expenditures per capita and economic growth. These findings underscore the variegated impacts of renewable energy policies and R&D investments on economic dynamics within the context of Norway and Brazil, highlighting the necessity for tailored approaches in leveraging renewable energy for sustainable development.
Authors and Affiliations
Bahman Huseynli, Nigar Huseynli
Keywords
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- EP ID EP744300
- DOI https://doi.org/10.56578/jse030202
- Views 24
- Downloads 1
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The Dynamics of R&D Expenditure, Renewable Electricity Production, and Economic Growth: A Comparative Analysis of Norway and Brazil
In the quest to secure energy supply and mitigate dependence on imported fossil fuels, nations are diversifying into renewable energy sources (RES). This study investigates the impact of renewable electricity production...