Effects of Renewable Energy Consumption on Human Development: Empirical Evidence From Asian Countries

Abstract

The aim of this study is to investigate the effects of renewable energy consumption along with some other regressors namely income by gross domestic product (GDP) per capita, foreign remittances, inflation rate, growth in population on human development in eight Asian countries (Pakistan, Malaysia, Sri Lanka, India, China, Indonesia, Bangladesh, and Japan) from 1995 to 2018. Based on the nature of panel balanced data, we employed the fully modified ordinary least squares and fixed-effects estimators for the empirical investigation. The empirical estimates exhibit that renewable energy usage, foreign remittances and real per capita income have substantial positive impacts on human development. In contrast, inflation rate and growth in population have negative link with human development in the sample countries. Empirical estimates reveal that renewable energy usage positively contribute enhancing human development. These findings expose that the availability and accessibility of renewable energy will not only improve human development rather will also help in accomplishing sustainable development goals. Empirical findings suggest that the management authorities need to allocate more budget in investment in renewable energy schemes and also create environment which facilitate by providing incentives to the private sector also for renewable energy production in the Asian countries.

An analysis of the relationship between gender inequality and economic growth of Pakistan

“…We also use this model to find the result of gender inequality on economic growth of Pakistan. The simple linear regression model is used to test the gender in equality impact on growth which is also used my many studies including (Azam, 2019(Azam, , 2022Minhajuddin et al, 2022;Azam et al, 2023;Ali et al, 2022;Azam & Awan, 2022) and can be written as follows: Y= βo+ β1WFEM+ β2WFEW+ β3GPI+ β4OPT+ εi…”

Industrialization and CO2 Emissions: Accounting for the role of Renewable Energy in OIC Member States

“…First, industrialization is associated with increased energy use and energy intensity, which has direct effect on CO 2 emissions (Ozturk et al, 2022). Second, a number of recent studies pinpoint that investment in human capital can mitigate climate change effects in developing countries and reduce environmental degradation (Khan, 2020;Azam et al, 2023). This is particularly important for the Organization of Islamic Cooperation (OIC) member states where the level of industrialization is approximately 30% of GDP.…”