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Does Energy Consumption Affect the Environment and Economic Growth: Evidence from Emerging Economies

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  • Shivani Shivani

    (Department of Management Studies, Indian Institute of Technology Delhi, India)

Abstract

The relationship between economic growth, energy consumption, and carbon emissions has been extensively studied within the Environmental Kuznets Curve (EKC) framework. However, much of the existing literature focuses on the direct effects of energy consumption on the economic growth-carbon emission nexus, often overlooking the potential moderating influences of different energy sources. Thus, this study fills this gap by investigating the moderating effect of renewable energy consumption on the relationship between economic growth and carbon emissions in emerging economies using panel data methods. The study presents evidence supporting the existence of the EKC, indicating that economic growth negatively impacts the environment until a certain threshold of income is reached. Moreover, our results indicate that renewable energy weakens the relationship between economic growth and carbon emissions. This suggests that the adoption of renewable energy can help mitigate the negative environmental impacts of economic growth. Based on the findings, it is recommended that emerging countries should prioritize the integration of renewable energy into their energy mix, reduce dependence on fossil fuels, and promote economic growth strategies that align with environmental goals.

Suggested Citation

  • Shivani Shivani, 2024. "Does Energy Consumption Affect the Environment and Economic Growth: Evidence from Emerging Economies," Journal of International Commerce, Economics and Policy (JICEP), World Scientific Publishing Co. Pte. Ltd., vol. 15(03), pages 1-19, October.
  • Handle: RePEc:wsi:jicepx:v:15:y:2024:i:03:n:s179399332450025x
    DOI: 10.1142/S179399332450025X
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    More about this item

    Keywords

    Economic growth; carbon emission; renewable energy; EKC; sustainability; emerging economies;
    All these keywords.

    JEL classification:

    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • P28 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies - - - Natural Resources; Environment
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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