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Energy Insecurity, Economic Growth, And The Role Of Renewable Energy: A Cross-Country Panel Analysis

Author

Listed:
  • XIANG XU

    (School of Economics, Central University of Finance and Economics, Beijing 102206, P. R. China)

  • JIAN YU

    (School of Economics, Central University of Finance and Economics, Beijing 102206, P. R. China)

  • DAYONG ZHANG

    (#x2020;Research Institute of Economics and Management, Southwestern University of Finance and Economics, Chengdu 611130, P. R. China)

  • QIANG JI

    (#x2021;Center for Energy and Environmental Policy Research, Institutes of Science and Development, Chinese Academy of Sciences, P. R. China§School of Public Policy and Management, University of Chinese Academy of Sciences, Beijing, P. R. China)

Abstract

Many countries rely on the international energy market as their main energy supplier, thus leading to issues of insecurity. Energy insecurity can potentially hinder economic growth and cause sustainability problems. This paper builds on cross-country panel data and estimates the relationship between energy insecurity and economic growth. We explore the multi-dimensional feature of energy insecurity through energy dependency, renewable energy share, and price effects. Our results show statistically significant negative impacts on growth due to energy insecurity, but the effects are mostly relevant to developing economies. Moreover, we show that the development renewable energy sector can mitigate the negative effects.

Suggested Citation

  • Xiang Xu & Jian Yu & Dayong Zhang & Qiang Ji, 2021. "Energy Insecurity, Economic Growth, And The Role Of Renewable Energy: A Cross-Country Panel Analysis," The Singapore Economic Review (SER), World Scientific Publishing Co. Pte. Ltd., vol. 66(02), pages 323-343, March.
    • Handle: RePEc:wsi:serxxx:v:66:y:2021:i:02:n:s021759081943001x
    DOI: 10.1142/S021759081943001X
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    Cited by:

    1. Chen, Shiu-Sheng & Lin, Tzu-Yu, 2024. "Monetary policy and renewable energy production," Energy Economics, Elsevier, vol. 132(C).
    2. Liu, Xiaoguang & Ji, Qiang & Yu, Jian, 2021. "Sustainable development goals and firm carbon emissions: Evidence from a quasi-natural experiment in China," Energy Economics, Elsevier, vol. 103(C).

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