ROLE OF ENERGY IN HUMAN DEVELOPMENT - IN CASE OF ONE BELT ONE ROAD COUNTRIES
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Date
2020-09-16
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UMT,Lahore
Abstract
Many researches inveterate energy consumption as a basic indicator of economic growth
also important production factors like capital or labor. Higher economic development
involves more energy consumption and more efficient energy utilization needs a higher
level of economic development. Countries are moving to industry intensive structure
from agriculture intensive structure therefore energy shows an obvious role in economic
growth. Modern, economists and researchers stress energy as key factor in growth
development. This research endurances energy production impact on Human
Development monitoring includes capital, labor, technology and trade balance. In this
analysis Panel Data Fixed Effect and Random Effect models are estimated in evidence of
69 OBOR countries, 2000 to 2018. The results concluded that the non-renewable and
renewable energy ratio follows an inverted U-shaped relationship with HDI. Further
renewable energy must be significantly higher than non-renewable energy in order to
ensure that it is development promoting.