title: The significance of renewable energy use for economic output and environmental protection: evidence from the Next 11 developing economies.
abstract: Increasing economic activities in developing economies raise demand for energy mainly sourced from conventional sources. The consumption of more conventional energy will have a significant negative impact on the environment. Therefore, attention of policy makers has recently shifted towards the promotion of renewable energy generation and uses across economic activities to ensure low carbon economy. Given the recent scenario, in this paper, we aim to examine the role of renewable energy consumption on the economic output and CO2emissions of the next fastest developing economies of the world. The study employs several robust panel econometric models by using annual data from 1990 to 2012. Empirical findings confirm the significant long-run association among the variables. Similarly, results show that renewable energy consumption positively contributes to economic output and has an adverse effect on CO2emissions. Given our findings, we suggest policy makers of those economies to initiate further effective policies to promote more renewable energy generation and uses across economic activities to ensure sustainable economic development.
authors.affiliation: International Institute for Financial Studies, Jiangxi University of Finance and Economics, Nanchang, China. srparamati@jxufe.edu.cn.
authors.forename: Sudharshan Reddy
authors.initials: SR
authors.lastname: Paramati
authors.affiliation: Centre for Economics and Finance, Administrative Staff College of India, Hyderabad, India.
authors.forename: Avik
authors.initials: A
authors.lastname: Sinha
authors.affiliation: Department of Economics, Abdullah Gul University, Kayseri, Turkey.
authors.forename: Eyup
authors.initials: E
authors.lastname: Dogan
mesh_terms: D002245:Carbon Dioxide; D003247:Conservation of Natural Resources / Q000191:economics; D057217:Economic Development; D059205:Renewable Energy / Q000191:economics*
chemical_list: D002245:Carbon Dioxide
keywords: CO2 emissions; Developing economies; Renewable energy consumption; Sustainable economic development