Abstract
This paper explores the asymmetric relationship between renewable energy consumption, non-renewable energy, and terrorism on economic growth of Pakistan. We applied a novel econometric cointegration method known as a nonlinear autoregressive distributed lag modeling (NARDL). Our empirical findings indicate that positive and negative changes have a significant long-run asymmetric relationship between renewable energy, and terrorism on economic growth. We also found a negative and significant effect of non-renewable energy consumption on economic growth. To keep our environment clean and free of emissions, the study specifies policies that rely on renewable energy sources to boost economic growth. However, reduces terrorism has a positive impact on economic growth in the long-run and shows as an influential tool to combat terrorism in Pakistan. These novel results will help policy-makers and government officials to understand better the role of renewable energy and economic growth in Pakistan's development.
Highlights
The heavy reliance of the world on non-renewable energy sources leads to serious worldwide concerns and problems, including potential depletion of non-renewable energy sources, energy security, and environmental issues
Non-renewable and economic growth historical trend shows in Figures 2 to 4: This study examines the asymmetric relationship between renewable energy (Re), nonrenewable energy (Nre) consumption, and terrorism attacks (Ta) on the gross domestic product (Gdp) the empirical estimation; we proposed the following equation
This study explored the asymmetric relationship between renewable energy, non-renewable energy, and terrorism on economic growth in Pakistan
Summary
The heavy reliance of the world on non-renewable energy sources leads to serious worldwide concerns and problems, including potential depletion of non-renewable energy sources, energy security, and environmental issues. This study explores the asymmetric effect of renewable energy, nonrenewable energy, and terrorism on economic development in Pakistan using time series annual data from 1970 to 2018. (Fan and Hao, 2019) applied the dynamic generalized method of moments (GMM) panel model to examine the relationship between economic growth, carbon dioxide emissions, and the effect of imports and exports on renewable energy in different provinces in China. This study explores the asymmetric association among renewable energy, non-renewable energy, terrorism, and economic growth in Pakistan using the NARDL model, and the annual time series data for the period of 1970 – 2018. Non-renewable and economic growth historical trend shows in Figures 2 to 4: This study examines the asymmetric relationship between renewable energy (Re), nonrenewable energy (Nre) consumption, and terrorism attacks (Ta) on the gross domestic product (Gdp) the empirical estimation; we proposed the following equation. 1975 – 2011 1980 – 2010 Survey 1965 – 2012 1952 – 2012 1972 – 2011 1989 – 2013 1990 – 2009 1971 – 2013 1971 – 2011 2014 – 2016 1971 – 2013 Survey 2009 2001 – 2014
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