Energy efficiency, renewable energy, economic growth: evidence from emerging market economies

This study investigates the effect of energy efficiency and renewable energy on economic growth in emerging economies over the 1992–2014 period using Westerlund’s ( 2008 ) cointegration test and Dumitrescu and Hurlin ( 2012 ) causality test. The panel cointegration coefficients reveal that energy efficiency positively influences the economic growth in the long term, but renewable energy has no significant effects on economic growth in the long term. Furthermore, the causality analysis revealed a one-way causality from both energy efficiency and renewable energy use to the economic growth in the short term.