STATISTICS OF RENEWABLE ENERGY ON GREEN GROWTH IN EMERGING MARKET ECONOMIES
Keywords:
renewable energy generation, energy consumption, economic growth, sustainable development, green economy.Abstract
Furthermore, our findings from short-run coefficients of clean energy stock prices have a significant positive affect on green economy stock prices under the selected Asian, European and U.S markets. Change in renewable energy generation stock prices have a negatively insignificant impacts on Asian and European green economy stock prices. However, short-run coefficients of renewable energy generation negatively and positively impacted on green economy stock prices of U.S market. In addition, the Wald tests results shows that the green economy stock price adjustment is running towards the long- and short-run steady increment regarding positive and negative shocks in renewable energy generation and clean energy. As these economies strive for rapid economic growth, they are increasingly confronted with the need to address environmental concerns, resource depletion, and the challenges of climate change. Renewable energy, derived from naturally replenishing sources, has emerged as a vital tool in this pursuit, offering a path towards green growth.
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