Renewable energy consumption and business density as drivers of sustainable development

The East Asia and Pacific region have witnessed significant economic growth in recent decades, leading to improved living standards and increased energy consumption. However, this rapid development has also resulted in environmental degradation and heightened concerns about climate change. In respon...

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Main Authors: Zheng R., Osabohien R., Madueke E., Jaaffar A.H.B.
Other Authors: 58690485200
Format: Article
Published: Frontiers Media SA 2024
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spelling my.uniten.dspace-344512024-10-14T11:19:53Z Renewable energy consumption and business density as drivers of sustainable development Zheng R. Osabohien R. Madueke E. Jaaffar A.H.B. 58690485200 57201922189 58692153600 58897806500 business density climate change green economic growth renewable energy sustainable development Economics Energy utilization Method of moments Sustainable development Business density Clean technologies East Asia East Pacific Economic growths Energy business Green economic growth Living standards Renewable energies Renewable energy consumption Climate change The East Asia and Pacific region have witnessed significant economic growth in recent decades, leading to improved living standards and increased energy consumption. However, this rapid development has also resulted in environmental degradation and heightened concerns about climate change. In response, countries in the region have been increasingly focusing on sustainable development, with renewable energy consumption and business density emerging as key drivers. Given this background, this research empirically examines the impact of entrepreneurship and clean technology on sustainable development in East Asia and the Pacific region. To control for endogeneity, the study applied system the Generalized Method of Moments (SGMM) for the data sourced from the World Development Indicators of the World Bank for the period 2015�2021. The finding indicates that both entrepreneurship and clean technology have an adverse significant impact on sustainable development in the East Asia-Pacific region. When the regions were analysed individually, the results revealed that both entrepreneurship and clean technology have a negative substantial effect on sustainable development in East Asia, but not in the Pacific region. The study concludes that entrepreneurship and renewable energy by themselves would not result in sustainable development, except some certain conditions are met. The positive impacts of entrepreneurship and renewable energy on sustainable development can only be attained when the nature, location, and practices of new businesses are low carbon in nature. JEL Classifications: Q01, Q42, Q56 Copyright � 2023 Zheng, Osabohien, Madueke and Jaaffar. Final 2024-10-14T03:19:52Z 2024-10-14T03:19:52Z 2023 Article 10.3389/fenrg.2023.1268903 2-s2.0-85176427807 https://www.scopus.com/inward/record.uri?eid=2-s2.0-85176427807&doi=10.3389%2ffenrg.2023.1268903&partnerID=40&md5=6e8d441b27edcef821cf909e15fcd263 https://irepository.uniten.edu.my/handle/123456789/34451 11 1268903 All Open Access Gold Open Access Frontiers Media SA Scopus
institution Universiti Tenaga Nasional
building UNITEN Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Tenaga Nasional
content_source UNITEN Institutional Repository
url_provider http://dspace.uniten.edu.my/
topic business density
climate change
green economic growth
renewable energy
sustainable development
Economics
Energy utilization
Method of moments
Sustainable development
Business density
Clean technologies
East Asia
East Pacific
Economic growths
Energy business
Green economic growth
Living standards
Renewable energies
Renewable energy consumption
Climate change
spellingShingle business density
climate change
green economic growth
renewable energy
sustainable development
Economics
Energy utilization
Method of moments
Sustainable development
Business density
Clean technologies
East Asia
East Pacific
Economic growths
Energy business
Green economic growth
Living standards
Renewable energies
Renewable energy consumption
Climate change
Zheng R.
Osabohien R.
Madueke E.
Jaaffar A.H.B.
Renewable energy consumption and business density as drivers of sustainable development
description The East Asia and Pacific region have witnessed significant economic growth in recent decades, leading to improved living standards and increased energy consumption. However, this rapid development has also resulted in environmental degradation and heightened concerns about climate change. In response, countries in the region have been increasingly focusing on sustainable development, with renewable energy consumption and business density emerging as key drivers. Given this background, this research empirically examines the impact of entrepreneurship and clean technology on sustainable development in East Asia and the Pacific region. To control for endogeneity, the study applied system the Generalized Method of Moments (SGMM) for the data sourced from the World Development Indicators of the World Bank for the period 2015�2021. The finding indicates that both entrepreneurship and clean technology have an adverse significant impact on sustainable development in the East Asia-Pacific region. When the regions were analysed individually, the results revealed that both entrepreneurship and clean technology have a negative substantial effect on sustainable development in East Asia, but not in the Pacific region. The study concludes that entrepreneurship and renewable energy by themselves would not result in sustainable development, except some certain conditions are met. The positive impacts of entrepreneurship and renewable energy on sustainable development can only be attained when the nature, location, and practices of new businesses are low carbon in nature. JEL Classifications: Q01, Q42, Q56 Copyright � 2023 Zheng, Osabohien, Madueke and Jaaffar.
author2 58690485200
author_facet 58690485200
Zheng R.
Osabohien R.
Madueke E.
Jaaffar A.H.B.
format Article
author Zheng R.
Osabohien R.
Madueke E.
Jaaffar A.H.B.
author_sort Zheng R.
title Renewable energy consumption and business density as drivers of sustainable development
title_short Renewable energy consumption and business density as drivers of sustainable development
title_full Renewable energy consumption and business density as drivers of sustainable development
title_fullStr Renewable energy consumption and business density as drivers of sustainable development
title_full_unstemmed Renewable energy consumption and business density as drivers of sustainable development
title_sort renewable energy consumption and business density as drivers of sustainable development
publisher Frontiers Media SA
publishDate 2024
_version_ 1814060097715830784
score 13.209306