Experimenting the Long-Haul Association Between Components of Consuming Renewable Energy: Ardl Method With Special Reference to Malaysia

Abstract

Global warming is a standout amongst the present most critical environmental issues, caused generally by emission of greenhouse gases, for example, carbon dioxide from the consuming of fossil fuels. Emissions of carbon dioxide fluctuate all through nations in Asia. It is progressively perceived that nations must act to advance the more prominent utilization of renewable energy resources as a component of activities looking to relieve environmental change. This paper shows a survey of the energy request situation in Malaysia and Indonesia. In this renewable energy, resources are getting to be attractive for sustainable energy development in Malaysia. It is essential for Malaysia to build the consumption of renewable energy to lessen its reliance on dirty fossil fuels for electricity generation. This paper endeavours to examine the elements influencing renewable electricity consumption (REC) in Malaysia. In particular, our examination means to investigate the long-haul relationship among REC, economic growth, CO 2 emanations, foreign direct investment (FDI) and exchange transparency over the period from 1980 to 2015. By utilizing autoregressive distributed lag (ARDL) bounds testing cointegration approach, we locate that financial development and FDI are the real drivers for REC. Exchange transparency, be that as it may, is found to have a negative effect on REC over the long haul. Strangely, the impact of CO 2 outflows on REC isn't critical. In addition, the vector error correction model (VECM) Granger causality test finds the presence of a unidirectional causality relationship running from GDP to REC, affirming the legitimacy of conservation hypothesis in Malaysia. Some significant policy suggestions are likewise talked about. It is accordingly prescribed that the policymakers are required to concentrate on the green energy generation part by expanding renewable energy creation from the current sources.

Renewable Energy, Economic Growth and Economic Development Nexus: A Bibliometric Analysis

“…Belt Road countries were investigated by [110,111], SAARC and ASEAN countries [112], as well as, South Korea [113], Bangladesh [114], Malaysia [115][116][117][118], Indonesia [119][120][121][122][123], Vietnam [124], Taiwan [125], Pakistan [126][127][128][129][130], Kazakhstan [131,132], and Thailand [133]. Not many studies dealing with the African continent [134] investigate the continent, [135] sub-Saharan Africa, [136] Rwanda, [137] Cameron, Nigeria [138], [139] Ethiopia and [140] Tunisia.…”

Exploring the Factors behind Renewable Energy Consumption in Indonesia: Analyzing the Impact of Corruption and Innovation using ARDL Model

“…Improved legal safeguards encourage renewable energy companies to boost their output of green power. Roespinoedji (2019) found that FDI and GDP expanded renewable power production in Malaysia. Kang et al (2021) analyzed how GDP, FDI, trade openness, and urbanization contributed to the determination of renewable energy in South Asian countries from 1990 to 2019.…”

Renewable Energy, Foreign Direct Investment and Sustainable Development: An Empirical Evidence

“…Mahmood and Alkhateeb (2018) evaluated the contributing factors of FDI inflows in Saudi Arabia and found the evidence of oil price and financial market development positively affecting FDI inflows. Using ARDL bounds testing cointegration approach Roespinoedji et al (2019) found financial development and FDI to be real drivers of renewable electricity consumption in Malaysia. Doytch and Narayan (2016) examined the relationship between energy demand and FDI and investigated the impact of FDI inflows on renewable and non-renewable energy sources for 74 countries.…”