Abstract
Background/objectives: The use of nuclear energy plays very imperative role in economic growth. Method/findings: The present study employs ARDL approach to inspect alternative and nuclear power (% of total power use) and GDP per capita (constant 2010 US$) (economic growth) in Pakistan 1971–2014. Findings: The ARDL approach suggests that the dependent variable and regressor have long-term equilibrium but they are insignificant. The outcomes also propose that, both the long-term and short term, nuclear power utilization has a non-negative impact on economic growth. As a final point, the Granger causality analysis shows a unidirectional causality between alternative and nuclear power (% of total power use) and GDP per capita (constant 2010 US$). Application: Furthermore, the ARDL test in this study suggests that nuclear energy is an effective solution to boost economic growth in Pakistan and gives useful information for policymakers.Keywords: Nuclear Power, Economic Growth, ARDL Approach, Pakistan.
Highlights
A few years ago, nuclear mishap in Fukushima, Japan was a gigantic strike to the status and belief in nuclear power creation, which make a number of countries to re-evaluate the mechanism of generation of nuclear power
Many countries have switched from the use of fossil fuels to hygienic surrogate power resources such as hydropower; nuclear power; wind power; and natural gas that will bail out them face escalating consumers demand and tumble the dependency on imported oil, Pakistan uses less nuclear energy than all these countries
There are the basic steps of ARDL model is as follows and nuclear power (% of total power use) and GDP per capita prestige is limited
Summary
A few years ago, nuclear mishap in Fukushima, Japan was a gigantic strike to the status and belief in nuclear power creation, which make a number of countries to re-evaluate the mechanism of generation of nuclear power. Without any sufficient amendment in government policies, consumers continuously utilize power more and more, dependency on fossil fuels would increase by which climate change and it would affect economic growth At this point, many countries have switched from the use of fossil fuels to hygienic surrogate power resources such as hydropower; nuclear power; wind power; and natural gas that will bail out them face escalating consumers demand and tumble the dependency on imported oil, Pakistan uses less nuclear energy than all these countries. Pakistan is making try to promote nuclear power sector by which increase provision of power services to the Pakistani people This will increase the per capita power consumption and growth of the country substantially.
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