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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

Author

Listed:
  • Wanli Fang

    (Business School of Hohai University)

  • Yijie Bian

    (Business School of Hohai University)

Abstract

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.

Suggested Citation

  • Wanli Fang & Yijie Bian, 2024. "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 Ec," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(2), pages 9440-9451, June.
    • Handle: RePEc:spr:jknowl:v:15:y:2024:i:2:d:10.1007_s13132-023-01423-5
    DOI: 10.1007/s13132-023-01423-5
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    More about this item

    Keywords

    Environmental and energy strategies; Environment pollution; Asian economies; Economic growth;
    All these keywords.

    JEL classification:

    • D11 - Microeconomics - - Household Behavior - - - Consumer Economics: Theory
    • E12 - Macroeconomics and Monetary Economics - - General Aggregative Models - - - Keynes; Keynesian; Post-Keynesian; Modern Monetary Theory

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