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© 2023 AESS Publications. All Rights Reserved.
Renewable and non-renewable energy consumption and total factor
productivity growth: The case of G20 countries
Mohamed Neffati
1+
Rafik Jbir
2
Naceur Benzina
3
1
Al Imam Mohammad Ibn Saud Islamic University, Riyadh, Saudi Arabia,
and High School Business, Sfax University, Tunisia.
Email: neffati.med1@gmail.com
2
University of Tunis, ESSEC, Tunisia, and Umm Al Qura University, College
of Islamic Economics and Finance, Makkah, Saudi Arabia.
Email: jbir.rafik@gmail.com
3
Al Imam Mohammad Ibn Saud Islamic University, Riyadh, Saudi Arabia,
and FSEG, Sfax University, Tunisia.
Email: nzzinnin@yahoo.fr
(+ Corresponding author)
ABSTRACT
Article History
Received: 13 March 2023
Revised: 7 May 2023
Accepted: 16 May 2023
Published: 24 May 2023
Keywords
Economic growth
Granger causality
Non-renewable energy
consumption
Panel data
Renewable energy
Total factors productivity.
JEL Classification:
G7; G20.
The purpose of this paper is to investigate the short and long-run relationships between
renewable, non-renewable energy consumption (NREC) and economic growth. This
study highlights the importance of renewable energy consumption to improve the total
factor productivity (TFP) in G20 countries spanning on 2002-2018. Using the approach
of panel Feasible Generalized Least Squares (PFGLS) cross-section and period weight
and FGLS cross-section and period sur robust, we have divided the sample in three
groups: G20, G7 and G20-G7. The findings show that there is a negative effect of
Renewable Energy Consumption (REC) on TFP in G7 and a positive effect in the other
groups. Our main results indicate that there is a strong significant and positive
relationship between REC and TFP growth in the long run in the hull G20 countries.
But, in the G7, there is a negative relationship due to the negative effect in the
environment. The results of granger causality tests indicate the existence of one-way
causality from NREC to TFP in G20 and G20-G7, while from TFP to NREC in G7. To
boost overall productivity and maintain sustainable development, all nations must invest
in renewable energy.
Contribution/ Originality: The originality of this research lies in the statement that when the goal is to achieve
strong growth, little attention is paid to the type of energy used. As developed countries in the G7 call for replacing
non-renewable energies with renewable energies, but they continue to consume the first energy excessively.
1. INTRODUCTION
Energy is one of the mains elements of human life. Without energy, life will be very difficult. It seems to be
necessary to heating, electricity and produce goods and services. Today, there is an acceleration of development of
the over the last decades. Energy, as the important commodities in world trade, has proved to have an ever more
important role in economic growth of many countries. From economic point of vu, energy is considered as one of
factors of production. Indeed, it is used to achieving sustainable economic growth. There are many studies have
focused on the role of energy in economic. The first study is the study of Kraft and Kraft (1978) which have analyzed
the relationship of energy and growth national product (GNP). After this study, various researchers have investigated
the link between energy and economic activity (Akinlo, 2008; Balat, 2008; Balcilar, Ozdemir, & Arslanturk, 2010;
Zaidi, Jbir, & Gmidene, 2014). Stern (1993) as ecologic economist believed that energy is the most important growth
Energy Economics Letters
ISSN(e): 2308-2925
DOI: 10.55493/5049.v10i1.4806
Vol. 10, No. 1, 78-89.
© 2023 AESS Publications. All Rights Reserved.
URL: www.aessweb.com