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Do fossil fuel and renewable energy consumption affect total factor productivity growth? Evidence from cross-country data with policy insights

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  • Rath, Badri Narayan
  • Akram, Vaseem
  • Bal, Debi Prasad
  • Mahalik, Mantu Kumar

Abstract

This study examines whether types of energy consumption affects the total factor productivity (TFP) growth. Using annual data of 1981–2013 for the panel sample of 36 countries, the results show that fossil fuel consumption declines the TFP growth, whereas, renewable energy consumption boosts the TFP growth. However, the results vary across different sub-panels. Further, the results from panel Granger causality support the feedback hypothesis in the long-run, whereas, weak evidence is found in the short-run. Since our findings supported feedback hypothesis, thus, policy should focus on reducing fossil fuel and using more renewable energy for achieving a ‘‘win-win’’ position of sustainable higher productivity growth with protective environmental quality in the long-run.

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  • Rath, Badri Narayan & Akram, Vaseem & Bal, Debi Prasad & Mahalik, Mantu Kumar, 2019. "Do fossil fuel and renewable energy consumption affect total factor productivity growth? Evidence from cross-country data with policy insights," Energy Policy, Elsevier, vol. 127(C), pages 186-199.
    • Handle: RePEc:eee:enepol:v:127:y:2019:i:c:p:186-199
    DOI: 10.1016/j.enpol.2018.12.014
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    More about this item

    Keywords

    C33; O47; Q43; Energy consumption; Total factor productivity growth; CIPS unit root test; Panel cointegration; Panel causality;
    All these keywords.

    JEL classification:

    • C33 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Models with Panel Data; Spatio-temporal Models
    • O47 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Empirical Studies of Economic Growth; Aggregate Productivity; Cross-Country Output Convergence
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy

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