Impact of non-renewable energy and natural resources on economic recovery: Empirical evidence from selected developing economies. (January 2023) - Yu, Chenyang
Abstract: Panel data examines the effects of renewable and natural resource usage on Green economic recovery in the top 10 nations adopting non-renewable energy from 1975 to 2018. Misunderstandings of sustainable energy legislation are often a result of structural breakout that go unnoticed. Fourier-based approaches are used to examine the nexus of non-renewable energy and natural resources on green economic recovery in selected countries. Economic recovery in eight of the ten nations depends on natural resource development, whereas sustainable energy contributes to economic recovery in Germany, Denmark, and France over the long term. Italy, Malta, the UK, and Greece are examples of countries where the energy-led growth theory holds. Even though Italy's economy relies on non-renewable energy, the preservation theory holds for both power parameters in Germany and sustainable power in China. While non-renewable energy is not as powerful as exhaustible power, the total findings demonstrate that natural resource development has the potential to be a significant driver of green economic recovery. Policies to combat energy ineffectiveness should thus check an overworked world-ecology, reduce urban oddities, and encourage ecological learning for a better atmosphere. Highlights: renewable and natural resources usage affect economic development in the top 10 renewable energy-consuming nations. Growing economies must progressively shift from carbon fuels to renewable energy to protect natural resources. Denmark generates lesser emission as it decreases reliance on oil and shifted more towards renewable energy.