Trade balance, monetary supply, commodity prices, and greener energy growth: contextual evidence from BRICS economies in the lens of sustainability.

Abstract

The prime objective of this study is to examine the heterogenous impacts of money supply, commodity prices, and trade balance on the greener energy growth in BRICS economies. The BRICS economies are the leading trade block and have huge investments on greener energy projects. In doing so, we employ the data from January 2010 to May 2021 and employed panel fixed regression methods. The findings mention that change in inflation, export, import, industrial production, foreign direct investment (FDI), price of commodities, and money supply significantly affect greener energy growth. Notably, we observe that foreign investments, commodity prices, and money supply are the key factors for greener growth in BRICS economies. Overall, the study concludes interesting conclusions and implications in context of sustainability.