The relationship between economic growth, carbon dioxide emission and renewable energy development: Malaysian evidence. In: 2nd Malaysia University-Industry Green Building Collaboration Symposium, 8 May 2018, Puri Pujangga, UKM. (2021)
Abstract
The aim of this paper is to examine the relationship between country’s economic growth record, CO2 emission and renewable energy growth in Malaysia from the year 2012 until 2017. The annual data on GDP, CO2 emission and renewable energy growth in Malaysia were collected from respective organizations, particularly, Bank Negara Malaysia, World Bank and SEDA Malaysia. The study makes an effort to quantitatively examine the relationship between economic growth, CO2 emission and renewable energy development in Malaysia by running an Ordinary Least Squares (OLS) regression analysis to capture the relationship among these variables. The study finds that the GDP, CO2 emission and renewable energy show a positive and strong correlation with each other. However, the OLS test indicates a bidirectional relationship between renewable energy growth and GDP, and directional relationship between GDP and CO2 emission, but no relationship between CO2 emissions and renewable energy growth. In conclusion, setting clear targets on renewable energy and effective enforcement by respective authority is important to ensure successful energy transition from fossil fuel to non-fossil fuel in the country. The effective government policies and supports also complement to ensure the conservation policy positively affects economic growth and reduces CO2 emissions.
| Item Type: | Conference or Workshop Item (Paper) |
|---|---|
| Keywords: | CO2 Emission, Economic growth, Renewable energy, Regression, Correlation |
| Taxonomy: | By Niche > Solar > Solar Energy > Environmental Aspects By Niche > Solar > Solar Energy > Government Policy By Niche > Solar > Solar Energy > Industrial Applications |
| Local Content Hub: | Niche > Solar |
| Depositing User: | Alias Manap |
| Date Deposited: | 06 Jun 2023 09:09 |
| Last Modified: | 06 Jun 2023 09:09 |
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