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Renewable and non-renewable energy consumption in Bangladesh: The relative influencing profiles of economic factors, urbanization, physical infrastructure and institutional quality

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  • Islam, Md. Monirul
  • Irfan, Muhammad
  • Shahbaz, Muhammad
  • Vo, Xuan Vinh

Abstract

Many researchers investigate the socio-demographic and economic factors-induced energy consumption, particularly fossil fuel-based non-renewable energy consumption, but there exists a scarcity to study on the same factors-driven renewable energy consumption along with institutional quality factor. Given this, our research strives to analyse the relative influence of income growth, foreign direct investment, domestic investment, urbanization, physical infrastructure, and institutional quality on renewable and non-renewable energy consumption in Bangladesh for the period of 1990–2019 using the dynamic ARDL (DARDL) simulations method. The empirical findings divulge that income growth shows positive and negative effect on renewable and non-renewable energy consumption, respectively. Domestic investment has positive effect for renewable and non-renewable energy consumption. Foreign direct investment is found to have positive influencing factor for renewable energy consumption. Urbanization negatively impacts renewable energy consumption but urbanization affects non-renewable energy consumption positively. Physical infrastructure is a negative and positive determinant of renewable and non-renewable energy consumption, respectively. Institutional quality positively affects renewable energy consumption. The robustness of the results is comparatively exhibited using the DARDL simulations area plots where 20% positive and negative shocks to the predictors on the predicted variables are presented.

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  • Islam, Md. Monirul & Irfan, Muhammad & Shahbaz, Muhammad & Vo, Xuan Vinh, 2022. "Renewable and non-renewable energy consumption in Bangladesh: The relative influencing profiles of economic factors, urbanization, physical infrastructure and institutional quality," Renewable Energy, Elsevier, vol. 184(C), pages 1130-1149.
    • Handle: RePEc:eee:renene:v:184:y:2022:i:c:p:1130-1149
    DOI: 10.1016/j.renene.2021.12.020
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    More about this item

    Keywords

    Renewable and non-renewable energy consumption; Income growth; FDI; Urbanization; Infrastructure; Institutional quality;
    All these keywords.

    JEL classification:

    • Q2 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Renewable Resources and Conservation
    • Q3 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation
    • Q4 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy
    • C53 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Forecasting and Prediction Models; Simulation Methods

    Statistics

    Access and download statistics

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