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Renewable Energy Consumption, Education and Economic Growth in Brazil, Russia, India, China, South Africa

Author

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  • Kunofiwa Tsaurai

    (Department of Finance, Risk Managment and Banking, University of South Africa, South Africa.)

  • Lindiwe Ngcobo

    (Department of Finance, Risk Managment and Banking, University of South Africa, South Africa.)

Abstract

The study investigated two aspects, namely, (1) the impact of renewable energy consumption on economic growth in BRICS (Brazil, Russia, India, China, South Africa) and (2) whether education is a channel through which renewable energy consumption affects economic growth in BRICS. Panel data analysis such as fully modified ordinary least squares (FMOLS), pooled ordinary least squares (POLS) and fixed effects methods were used with data ranging from 1994 to 2015. Both models across all the three estimation techniques show that renewable energy consumption had a significant negative effect on economic growth in support of the findings by Silva et al (2012) and Lee and Jung (2018). What is also clear across all the three panel data analysis methods used is that education reduced the size of the negative effect of renewable energy consumption on economic growth in BRICS. In other words, education is a channel through which renewable energy consumption s influence on economic growth is enhanced, in support of views by Dunn and Mutti (2004), Ozcicek and Agpak (2017) and Lawrence et al. (1991). The implication of the study is that BRICS countries are therefore urged to invest more in education as that is more likely to enhance the impact of renewable energy consumption on economic growth.

Suggested Citation

  • Kunofiwa Tsaurai & Lindiwe Ngcobo, 2020. "Renewable Energy Consumption, Education and Economic Growth in Brazil, Russia, India, China, South Africa," International Journal of Energy Economics and Policy, Econjournals, vol. 10(2), pages 26-34.
    • Handle: RePEc:eco:journ2:2020-02-4
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    References listed on IDEAS

    as
    1. Alam, M. Shahid, 2006. "Economic Growth with Energy," MPRA Paper 1260, University Library of Munich, Germany.
    2. Sanderson Abel & Pierre Le Roux, 2016. "Determinants of Banking Sector Profitability in Zimbabwe," International Journal of Economics and Financial Issues, Econjournals, vol. 6(3), pages 845-854.
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    Cited by:

    1. Abdoulganiour Almame Tinta & Salifou Ouedraogo & Noel Thiombiano, 2021. "Nexus between economic growth, financial development, and energy consumption in Sub‐Saharan African countries: A dynamic approach," Natural Resources Forum, Blackwell Publishing, vol. 45(4), pages 366-379, November.
    2. Yacouba Telly & Xuezhi Liu & Tadagbe Roger Sylvanus Gbenou, 2023. "Investigating the Growth Effect of Carbon-Intensive Economic Activities on Economic Growth: Evidence from Angola," Energies, MDPI, vol. 16(8), pages 1-18, April.
    3. Smirnova, Elena & Kot, Sebastian & Kolpak, Eugeny & Shestak, Viktor, 2021. "Governmental support and renewable energy production: A cross-country review," Energy, Elsevier, vol. 230(C).
    4. Mahalik , Mantu Kumar & Le, Thai-Ha & Le, Ha-Chi & Subhadra , Sushree, 2022. "Does Higher Education Level Matter for The Reduction of Non-Renewable Energy Demand? Insights from the World’s Largest Greenhouse Gas Emitters," Journal of Economic Development, The Economic Research Institute, Chung-Ang University, vol. 47(3), pages 29-56, September.

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    More about this item

    Keywords

    Renewable Energy Consumption; Education; Growth; BRICS; Panel Data;
    All these keywords.

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • I2 - Health, Education, and Welfare - - Education
    • F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
    • P2 - Political Economy and Comparative Economic Systems - - Socialist and Transition Economies

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