Assessing the drivers of (non)conventional energy portfolios in the South Asian economies : The role of technological innovation and human development
Onifade, Stephen Taiwo; Gyamfi, Bright Akwasi; Alola, Andrew Adewale; Haouas, Iham (2023-09-09)
Onifade, Stephen Taiwo
Gyamfi, Bright Akwasi
Alola, Andrew Adewale
Haouas, Iham
ERP Environment John Wiley & Sons Ltd.
09.09.2023
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi-fe20231026141567
https://urn.fi/URN:NBN:fi-fe20231026141567
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vertaisarvioitu
© 2023 The Authors. Sustainable Development published by ERP Environment and John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
© 2023 The Authors. Sustainable Development published by ERP Environment and John Wiley & Sons Ltd. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.
Tiivistelmä
Energy is a vital component of economic development process, but part of the energy system including production and consumption of non-renewable energy sources largely constitute environment setback. Interestingly, this research contributes to the growing debate on understanding the factors contributing to energy consumption portfolios using the case of five major South Asian economies including Bangladesh, India, Nepal, Sri Lanka, and Pakistan from 1990 to 2018. Crucial factors like trade flow, human development index, technological innovations, and urbanization were controlled for while examining the roles of economic expansion on the disaggregated energy consumption portfolios (renewable and non-renewable energy sources) of these countries. The empirical dissection revealed that economic growth and the duo of trade and innovation are inimical to environmental sustainability as they trigger nonrenewable energy consumption while suppressing cleaner energy usage in the South Asian bloc. Urbanization on the other hand shows significant simultaneous positive impacts on the consumption of both renewables and nonrenewable energy, but its impacts are more pronounced on the latter than the former. Lastly, the study posits that human development and urbanization are major drivers of clean energy among the countries. Thus, strategic investment plans for human development enhancements and greener urban infrastructures are recommended for environmental sustainability goals in the region.
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