The Impact of Renewable Energy on Economic Well-Being of Malaysia: Fresh Evidence from Auto Regressive Distributed Lag Bound Testing Approach

Authors

  • Muhammad Haseeb School of Economics, Banking and Finance (SEFB), College of Business (COB), Uinversiti Utara Malaysia Sintok 06010 Kedah Malaysia
  • Irwan Shah Zainal Abidin
  • Qazi Muhammad Adnan Hye
  • Nira Hariyatie Hartani

Abstract

This present study examines the role of renewable energy in influencing economic well-being in Malaysia. We used annual data over the period of 1980 to 2016 in order to apply recent econometrics. The study used renewable energy and economic growth as a proxy of economic well-being to examine the long run connection between renewable energy and economic well-being. The results of ARDL bound testing approach confirm the valid long-term connection among renewable energy and economic well-being in Malaysia. Furthermore, the results indicate that renewable energy have significant and positive impact on economic well-being in short and long run. It is therefore recommended that the policymakers are required to focus on the green energy generation sector by increasing renewable energy production from the existing sources.Keywords: Renewable energy, economic well-being, ARDL bound testing, Malaysia.JEL Classifications: I31, Q22, Q52DOI: https://doi.org/10.32479/ijeep.7229

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Published

2018-12-07

How to Cite

Haseeb, M., Abidin, I. S. Z., Hye, Q. M. A., & Hartani, N. H. (2018). The Impact of Renewable Energy on Economic Well-Being of Malaysia: Fresh Evidence from Auto Regressive Distributed Lag Bound Testing Approach. International Journal of Energy Economics and Policy, 9(1), 269–275. Retrieved from https://econjournals.com./index.php/ijeep/article/view/7229

Issue

Vol. 9 No. 1 (2019)

Section

Articles

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