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Environmental Science and Pollution Research

, Volume 25, Issue 35, pp 35515–35530 | Cite as

Renewable and non-renewable energy consumption—impact on economic growth and CO2 emissions in five emerging market economies

  • Javed Ahmad Bhat
Research Article
  • 211 Downloads

Abstract

In a neo-classical aggregate production and Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) modeling framework, the paper attempts to explore the relationship between disaggregated energy consumption, economic growth, and carbon dioxide emissions in case of five emerging market economies—Brazil, Russia, China, India, and South Africa (BRICS) over the period 1992 to 2016. The study applied the robust unit root, cointegration, and long-run elasticity estimation methods like Pooled Mean Group and differenced panel generalized method of moments for empirical exercise. Having detected the panel heterogeneity and cross-sectional dependence, the cointegration tests documented the evidence of a long-run association among the variables. In the long-run, capital, labor, and non-renewable energy consumption are found to affect the economic growth positively. On the contrary, the impact of renewable energy consumption on the economic growth is found be positive but statistically insignificant. Moreover, population, per-capita income, and non-renewable energy consumption are found to increase the emissions whereas renewable energy consumption decreases them. Therefore, along with a proper emissions controls, BRICS countries should design and implement effective support policies so as to ensure the economic growth along with environmental sustainability.

Keywords

Renewable energy Non-renewable energy CO2 emissions Economic growth BRICS 

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Copyright information

© Springer-Verlag GmbH Germany, part of Springer Nature 2018

Authors and Affiliations

  1. 1.School of EconomicsUniversity of HyderabadHyderabadIndia

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