Does Renewable Energy effect the Environmental Sustainability? Nexus among Renewable Energy Consumption, Trade Openness, CO2 Emissions, Income Inequality and Economic Growth

Abstract

This research explores the relationship among renewable energy consumption (REC), trade openness, carbon emanations, income inequality on economic growth. This study takes fifteen (15) OECD nations data set start from 1997 to 2020 by employing the AMG assessor, which takes into account slope heterogeneity (SH) and CSD. The empirical outcomes confirm a significant favorable long-run relationship between these nexus, except for Carbon emanations, which are adversely related with REC, respectively. Notwithstanding, it has discovered that there is bi-directional causality between income inequality and REC. JEL Classification: D47