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Economic integration through renewable energy and digital currency in RCEP

Author

Listed:
  • Wen Jiayu

    (Jinan University)

  • Zehao Wang

    (Huazhong University of Science and Technology)

Abstract

This research examines economic integration within the RCEP subset of 13 countries from 2000 to 2020, focusing on the impact of green energy and digital currency adoption. A 1% increase in sustainable energy deployment yields significant short-term (0.01%) and long-term (0.05%) improvements; while, a 1% rise in electronic banking transactions results in substantial short-term (0.19%) and long-term (0.26%) enhancements. A 1% GDP increase leads to notable short-term (0.32%) and long-term (0.59%) improvements, emphasizing economic strength’s importance. Improved internet access (1% increase) contributes to short-term (0.09%) and long-term (0.10%) economic integration. Conversely, a 1% increase in economic risk corresponds to a significant long-term reduction (0.33%) in economic integration. The research suggests crucial policy implications, emphasizing prioritizing green power generation, strengthening digital infrastructure, and promoting eco-friendly blockchain technologies for sustainable economic integration.

Suggested Citation

  • Wen Jiayu & Zehao Wang, 2024. "Economic integration through renewable energy and digital currency in RCEP," 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_s10644-024-09646-5
    DOI: 10.1007/s10644-024-09646-5
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    More about this item

    Keywords

    Energy transformation; Economic integration; Digital currency; Green energy deployment; RCEP region;
    All these keywords.

    JEL classification:

    • F15 - International Economics - - Trade - - - Economic Integration
    • E42 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Monetary Sytsems; Standards; Regimes; Government and the Monetary System
    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy
    • F13 - International Economics - - Trade - - - Trade Policy; International Trade Organizations

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