Renewable Energy and Economic Growth: A New Perspective in Nigeria
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Sep 30, 2021
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Abstract
This study aims to explore the relationship between Energy consumption (Renewable) and Economic growth of Nigeria. Using time series data over the period of 1985-2018 and implying Ordinary Least Square (OLS) method finds that there is positive and significant association between Energy Consumption and economic growth moreover the combined effect of EC*DI and EC*FDI are also positive and significant impact on Nigerian economic growth. Some previous studies also support the view that energy consumption promote the economic growth of countries that suffers from low energy consumption. These findings support that greater the energy consumption strengthen the economic growth and less energy consumption weakened the economic growth.
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References
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Aqeel, A., & Butt, M. S. (2001). The relationship between energy consumption and economic growth in Pakistan. Asia-Pacific Development Journal, 8(2), 101-110.
Lee, C. C., & Chang, C. P. (2005). Structural breaks, energy consumption, and economic growth revisited: evidence from Taiwan. Energy Economics, 27(6), 857-872.
Mehrara, M. (2007). Energy consumption and economic growth: the case of oil exporting countries. Energy policy, 35(5), 2939-2945.
Sehrawat, M., Giri, A. K., & Mohapatra, G. (2015). The impact of financial development, economic growth and energy consumption on environmental degradation. Management of Environmental Quality: An International Journal.
Shiu, A., & Lam, P. L. (2004). Electricity consumption and economic growth in China. Energy policy, 32(1), 47-54.
Yoo, S. H. (2006). The causal relationship between electricity consumption and economic growth in the ASEAN countries. Energy policy, 34(18), 35
Aqeel, A., & Butt, M. S. (2001). The relationship between energy consumption and economic growth in Pakistan. Asia-Pacific Development Journal, 8(2), 101-110.
Lee, C. C., & Chang, C. P. (2005). Structural breaks, energy consumption, and economic growth revisited: evidence from Taiwan. Energy Economics, 27(6), 857-872.
Mehrara, M. (2007). Energy consumption and economic growth: the case of oil exporting countries. Energy policy, 35(5), 2939-2945.
Sehrawat, M., Giri, A. K., & Mohapatra, G. (2015). The impact of financial development, economic growth and energy consumption on environmental degradation. Management of Environmental Quality: An International Journal.
Shiu, A., & Lam, P. L. (2004). Electricity consumption and economic growth in China. Energy policy, 32(1), 47-54.
Yoo, S. H. (2006). The causal relationship between electricity consumption and economic growth in the ASEAN countries. Energy policy, 34(18), 35