Revealing the dynamic effects of fossil fuel energy, nuclear energy, renewable energy, and carbon emissions on Pakistan’s economic growth
2022
Rehman, Abdul | Ma, Hengyun | Ozturk, Ilhan | Radulescu, Magdalena
The primary goal of this study was to examine the relationship between fossil fuel energy, electricity production from nuclear sources, renewable energy, CO₂ emissions, and economic growth in Pakistan. Data ranging from 1975 to 2019 were utilized, and the stationarity of this data was verified through the unit root testing. The dynamic connections between variables were investigated by utilizing the linear autoregressive distributed lag technique. Long-run analysis results uncover that fossil fuel energy, renewable energy use, CO₂ emissions, and GDP per capita have a productive relationship with economic progress in Pakistan, whereas electric power consumption, electricity produced from nuclear sources, and energy utilization have an adverse effect on economic growth. Furthermore, the consequences revealed that fossil fuel energy, renewable energy consumption, carbon dioxide emissions, and GDP per capita have a significant linkage to Pakistan’s economic growth via short run, whereas we revealed that the variables electric power consumption, electricity produced from nuclear sources, and energy usage have an adversative linkage to Pakistan’s economic growth. Feasible progressive policies are required from the Pakistani government to pay more attention for tackling the energy and power sectors’ issues in terms of fulfilling the country’s energy requirements.
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