The Dynamic Effects of Renewable Energy on Economic Growth : The Case of China
DOI:
https://doi.org/10.15173/esr.v24i1.4293Abstract
This paper estimates the possible effects of renewable energy consumption on the economic growth of the major renewable energy- consuming country in the world. The country has taken the lead in renewable energy in the past decade, so the paper chooses the top renewable energy-consuming country China to explain the growth process between 1990 and 2019. Using time-series analysis techniques, this study Estimation and testing result from the different cointegration methods in the context of China. The results confirm the evidence of long-run dynamics between economic growth, and traditional and energy-related inputs. Findings from long-run output elasticities indicate that renewable energy consumption has a significant positive impact on economic output. The findings suggest that governments, energy planners, international cooperation agencies and associated bodies must act together in increasing renewable energy investment for low carbon growth in most of these economies.
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