Do energy, inflation, and financial development stimulate economic welfare in India? Empirical insights from novel dynamic ARDL and KRLS simulations
Mohammad Subhan,
Aqsa Anjum,
M. N. Zamir
et al.
Abstract:The present study focuses on investigating the effect of renewable and non-renewable energy consumption (REC and NREC), financial development (FD), and inflation (INF) on economic welfare (EW) in India during 1990–2019. In this research, we employ a novel dynamic autoregressive distributed lag model and a kernel-based machine learning algorithm and regularise least squares to detect causal linkages among the variables. To measure the economic welfare index, this research uses the PCA analysis with GDP, human c… Show more
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