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The Implications of Renewable and Non-Renewable Energy Consumption for Economic Growth in Cameroon

Author

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  • FOSSONG Derrick
  • NDAMSA Dickson Thomas
  • BAYE Menjo Francis

Abstract

Energy is widely considered a propulsive force for economic activity and industrial development. In this context, this paper aims at investigating the implications of renewable and non-renewable energy consumption for economic growth in Cameroon. To achieve this objective, used is made of time series data spanning the period 1971 - 2016 and an error correction. We find a long-run relationship between gross domestic product, renewable energy consumption, non-renewable energy consumption, gross capital formation and government expenditure. We also find that with the exception of non-renewable energy, these variables register positive and significant long-run effects on economic growth. However, once the two energy sources are interacted, the observed substitution-effect between renewable and non-renewable energy utilization enhances the direct impact of each energy source on economic growth. This indicates that renewable energy is a major driver of economic growth in the short- and long-run in Cameroon. These findings suggest that increasing the exploitation and use of renewable energy sources have implications for overall prosperity in developing country settings.

Suggested Citation

  • FOSSONG Derrick & NDAMSA Dickson Thomas & BAYE Menjo Francis, 2021. "The Implications of Renewable and Non-Renewable Energy Consumption for Economic Growth in Cameroon," Energy Economics Letters, Asian Economic and Social Society, vol. 8(1), pages 29-41.
    • Handle: RePEc:asi:eneclt:v:8:y:2021:i:1:p:29-41:id:183
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    Cited by:

    1. Sarsar, Lamiae & Echaoui, Abdellah, 2024. "Empirical analysis of the economic complexity boost on the impact of energy transition on economic growth: A panel data study of 124 countries," Energy, Elsevier, vol. 294(C).
    2. Minglin Wang & Shaolong Zeng & Yunzhe Wang & Zhengxia He, 2022. "Does Clean Energy Use Have Threshold Effects on Economic Development? A Case of Theoretical and Empirical Analyses from China," IJERPH, MDPI, vol. 19(15), pages 1-18, August.

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