Do renewable, non-renewable energy, carbon emission and KOF globalization influencing economic growth? Evidence from BRICS’ countries

Abstract

This study explores the possible effect on economic growth of renewable and non-renewable energy consumption and the disaggregated KOF index on the BRICS economies among 1990–2018. For this purpose, the Dynamic Panel Generalized Method of Moment (GMM) was applied. The findings indicate the increase among the interaction of economic and social globalization (de facto measure) and decrease effect (de jure) on Economic growth, while, the interaction of social and political globalization decrease the Economic growth, considering de facto measure for the both of that indexes. In addition, it was also observed that the increase in emissions positively affects economic growth, as well as the consumption of non-renewable energy; on the other hand, it was observed that the consumption of renewable energies tends to reduce economic growth. On the globalization effect, the findings indicate the increase among the interaction of economic and social globalization (de facto measure) and decrease effect (de jure) on Economic growth, while, the interaction of social and political globalization decrease the Economic growth, considering de facto measure for the both of that measures.