Determinants of Renewable Energy Consumption
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Date
2021
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Publisher
UMT.Lahore
Abstract
This study analyses the relationship between renewable energy consumption and
macroeconomic variables in Pakistan by using the estimation technique of autoregressive
distributed lags (ARDL) bound testing method originate by analyzing the long-run
relationships between renewable energy consumption with macroeconomic variables for
the period of 1988 – 2018 in Pakistan. The results present the assurance of a significant but
negative long-run relationship of renewable energy consumption with oil prices, gross
capital fixed formation, financial development, and exchange rate in Pakistan. That is why
research finds that renewable energy may enhance the economic growth in the long term
if the Pakistani government may feasibly take steps in the development and find new ways
to the exploration of renewable energy sources.