The impact of external debt, remittances, political stability, and urbanization on renewable energy consumption in BIMSTEC nations: Evidence from DCE and DCE-IV estimation

International Journal of Renewable Energy Development, Journal Year: 2025, Volume and Issue: 14(2), P. 343 - 360

Published: Feb. 15, 2025

This study delves into the intricate relationships among external debt, remittances, political stability, urbanization, and renewable energy consumption in context of BIMSTEC nations for 1995-2021. Motivated by growing significance sustainable practices need informed policy decisions. research employs a comprehensive methodology, including recently introduced Cross-sectional dependency, Slope heterogeneity test, error correction-based cointegration Dynamic Common Correlated Effects (DCE), instrumental variable-adjusted DCE method. While debt shows positive association with consumption, careful consideration is required, as indicated nuanced impact Instrumental Variable (DCE-IV) models. Remittances exhibit nexus emphasizing role household purchasing power. Urbanization, reflecting correlation unemployment rates, surprisingly points towards an increased demand energy, highlighting strategic planning. Political trade openness, foreign direct investment (FDI) also demonstrate varying impacts on consumption. The findings underscore nature these relationships, urging policymakers to adopt tailored approaches. Consequently, this contributes valuable insights nations, importance strategies aligned economic social dynamics.

Language: Английский

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Green Technological Advances and Resource Rents as Levers for Carbon Reduction in BRICS: Implications for SDGs 7, 8, 9, 12, and 13

Sustainable Development, Journal Year: 2024, Volume and Issue: unknown

Published: Nov. 27, 2024

ABSTRACT In recent decades, rapid development in emerging economies has heightened climate challenges, threatening environmental sustainability and quality. response, green energy, technological innovation, carbon pricing strategies have emerged as key tools for mitigation promoting economic growth. These are integral to the goals of COP 27, 2030 SDGs, pledge reach neutrality by 2060. However, BRICS bloc faces significant obstacles balancing socio‐economic growth with sustainability. This study intentions inspect impact natural resource rents, research (R&D) expenditures, on emissions from 1995 2021. Using a cross‐sectional ARDL model, explores relationships between these variables, employing advanced panel methods account CSD heterogeneity. The empirical findings reveal that expenditure, innovation contribute CO 2 emission reductions 0.329%, 0.211%, 0.148%, respectively. contrast, 1% increase rents corresponds substantial 0.499% 0.840% upsurge emissions. Dumitrescu Hurlin causality test also highlights reciprocal causal among variables. Based findings, recommends policy actions achieve SDG targets: enforce stricter regulations SDG‐13, renewable energy investment SDG‐07, support SDG‐08, enhance R&D SDG‐09, promote circular economy practices SDG‐12.

Language: Английский

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Quantitative and Qualitative Insights on Renewable Energy Investments Impact on Economic Diversification and Strategic Growth: The Case of Oman

International Journal of Innovative Research in Engineering & Multidisciplinary Physical Sciences, Journal Year: 2024, Volume and Issue: 12(4)

Published: Aug. 29, 2024

This study provides a comprehensive analysis of renewable energy investments in Oman, focusing on their impact economic diversification and strategic growth as outlined Oman Vision 2040. The research employs both quantitative qualitative methods to gather insights from large-scale survey in-depth interviews with key stakeholders. revealed that 70% respondents consider government policies be extremely important fostering investments, indicating strong public support. Additionally, findings highlighted critical themes such regulatory challenges, investment opportunities, the need for technological advancements, offering holistic understanding factors driving adoption Oman. integrated approach actionable recommendations enhancing country's strategy, contributing broader discourse sustainable resource-dependent economies.

Language: Английский

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Renewable Energy Investments Impact on Economic Diversification And Strategic Growth: A Review Of Literature In The Context Of Oman Vision 2040

International Journal of Innovative Research in Engineering & Multidisciplinary Physical Sciences, Journal Year: 2024, Volume and Issue: 12(4)

Published: Aug. 29, 2024

This paper provides a comprehensive literature review on the strategic role of renewable energy investments in driving economic diversification and growth Oman. As part Oman Vision 2040, nation aims to reduce its dependency oil gas revenues by investing energy, thus fostering sustainable growth. The covers various theoretical frameworks, including Economic Diversification Theory, Renewable Energy Transition Strategic Growth Development which provide foundation for analyzing impact Oman's landscape. also benchmarks global trends, examines current state Oman, highlights government policies initiatives that support transition diversified portfolio. Additionally, identifies key challenges opportunities Oman’s sector recommendations enhancing these investments. findings contribute valuable insights into how can leverage achieve long-term objectives, offering lessons be applied similar contexts globally.

Language: Английский

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