The analysis of the relationship between renewable energy and human development
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Date
2023
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IGI Global
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info:eu-repo/semantics/closedAccess
Abstract
As in all areas of human life, energy plays a vital role in these areas as well. However, reasons such as the risk of depletion of traditional energy sources, damage to the environment, and supply shocks have led to more discussion of renewable energy sources. The aim of the study is to analyze the relationship between renewable energy and human development for 37 OECD countries for the period 1990-2018. For this purpose, Gengenbach, Urbain, and Westerlund panel cointegration test and Dumitrescu-Hurlin panel causality tests were applied. Empirical results reveal that the increase in the rate of renewable energy consumption in total energy consumption positively affects human development. Also, the Dumitrescu-Hurlin panel causality test shows that there is no causality between human development and renewable energy consumption. These results will help policy makers and government officials in OECD countries better understand the role of renewable energy in the human development process. © 2023 by IGI Global. All rights reserved.
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Sustainable Growth and Global Social Development in Competitive Economies
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