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Green energy adoption in ASEAN+6 countries: policy and legal insights for sustainable development

Author

Listed:
  • Xiangbin Zuo

    (Universiti Kebangsaan Malaysia (UKM))

  • Huanhuan Ding

    (UCSI University
    Business School of Guangdong Polytechnic)

Abstract

In our study from 2000 to 2021, using the CS-ARDL technique, we explored green energy adoption in 15 ASEAN+6 countries. These nations, including Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand, Vietnam, China, Japan, South Korea, Australia, India, and New Zealand, revealed the critical role of good governance in accelerating green energy deployment. Effective regulation and reduced corruption fostered a favorable environment for renewable energy adoption. GDP size acted as a long-term driver but sometimes led to short-term reliance on carbon-intensive sources. Financial development catalyzed the long term, while CO2 emissions posed barriers in the short and long term. Population size slowed short-term deployment, emphasizing the need for energy policy reforms. Foreign Direct Investment (FDI) played a key long-term role, with limited short-term impact. A multifaceted policy approach is crucial for promoting green energy, including transparent regulation, anti-corruption measures, incentives, environmental regulations, attractive investment climates, green job creation, and sustainable financial development.

Suggested Citation

  • Xiangbin Zuo & Huanhuan Ding, 2024. "Green energy adoption in ASEAN+6 countries: policy and legal insights for sustainable development," Economic Change and Restructuring, Springer, vol. 57(2), pages 1-16, April.
    • Handle: RePEc:kap:ecopln:v:57:y:2024:i:2:d:10.1007_s10644-024-09637-6
    DOI: 10.1007/s10644-024-09637-6
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    More about this item

    Keywords

    Green recovery; Energy transition; Green energy deployment; Sustainable utilities; ASEAN+6 economies;
    All these keywords.

    JEL classification:

    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • L95 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Gas Utilities; Pipelines; Water Utilities
    • F15 - International Economics - - Trade - - - Economic Integration
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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