HUMAN DEVELOPMENT- RENEWABLE ENERGY-GROWTH NEXUS IN THE TOP 10 ENERGY GLUTTONS
HUMAN DEVELOPMENT- RENEWABLE ENERGY-GROWTH NEXUS IN THE TOP 10 ENERGY GLUTTONS
Author(s): Mirza Huskić, Elma ŠatrovićSubject(s): National Economy, Energy and Environmental Studies, Economic development
Published by: Fakultet za upravu, pridružena članica Univerziteta u Sarajevu
Keywords: Economic growth; human development; panel VAR; renewable energy;
Summary/Abstract: This paper employs a trivariate panel VAR model to explore the link, if any,between the renewable energy consumption (REN), human development (HDI) and economic growth (GDP) in the period 1990-2015 for the sample of top 10 leading economies in terms of energy consumption. The most important findings of the panel VAR model suggest a positive response of economic growth to the human development. With regard to renewable energy, economic growth is found to respond negatively but only in the short run. This response is found to decrease exponentially and to reach positive values in the long-run. The findings of this paper emphasize that policymakers need to do necessary efforts to develop strategies that will support the usage of renewable energy since it tends to contribute to key dimensions of human development and to the sustainable economic growth in the long-run.
Journal: UPRAVA stručni časopis
- Issue Year: 2020
- Issue No: 22
- Page Range: 25-42
- Page Count: 18
- Language: English