{"title":"How does energy resource diversification affect economic development? Evidence from BRICS economies","authors":"Qiong Chen , Giray Gozgor , Hemachandra Padhan , Weibai Liu , Mantu Kumar Mahalik , Henri Njangang , Sujit Kumar Pruseth","doi":"10.1016/j.resourpol.2024.105286","DOIUrl":null,"url":null,"abstract":"<div><p>This study explores the impact of energy diversification on economic growth in the BRICS (i.e. Brazil, Russia, India, China and South Africa) from 1995 to 2018. The study has used a newly constructed energy diversification index. The results based on the Quantile-on-Quantile (QQR) methodology demonstrate that the impact of energy diversification on the growth of the economy is heterogeneous among nations. It appears that lower and middle quantiles of the energy diversification reduce economic growth, while higher quantile of the energy diversification increases it. It is advised that the BRICS countries should develop crucial steps while transitioning from fossil fuels to renewable energy without hampering economic growth. It is further suggested that the BRICS countries need to ensure energy sustainability through effective energy diversification. Such steps will enhance economic prosperity for BRICS countries in the long run.</p></div>","PeriodicalId":20970,"journal":{"name":"Resources Policy","volume":"98 ","pages":"Article 105286"},"PeriodicalIF":10.2000,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Resources Policy","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0301420724006536","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"0","JCRName":"ENVIRONMENTAL STUDIES","Score":null,"Total":0}
引用次数: 0
Abstract
This study explores the impact of energy diversification on economic growth in the BRICS (i.e. Brazil, Russia, India, China and South Africa) from 1995 to 2018. The study has used a newly constructed energy diversification index. The results based on the Quantile-on-Quantile (QQR) methodology demonstrate that the impact of energy diversification on the growth of the economy is heterogeneous among nations. It appears that lower and middle quantiles of the energy diversification reduce economic growth, while higher quantile of the energy diversification increases it. It is advised that the BRICS countries should develop crucial steps while transitioning from fossil fuels to renewable energy without hampering economic growth. It is further suggested that the BRICS countries need to ensure energy sustainability through effective energy diversification. Such steps will enhance economic prosperity for BRICS countries in the long run.
期刊介绍：
Resources Policy is an international journal focused on the economics and policy aspects of mineral and fossil fuel extraction, production, and utilization. It targets individuals in academia, government, and industry. The journal seeks original research submissions analyzing public policy, economics, social science, geography, and finance in the fields of mining, non-fuel minerals, energy minerals, fossil fuels, and metals. Mineral economics topics covered include mineral market analysis, price analysis, project evaluation, mining and sustainable development, mineral resource rents, resource curse, mineral wealth and corruption, mineral taxation and regulation, strategic minerals and their supply, and the impact of mineral development on local communities and indigenous populations. The journal specifically excludes papers with agriculture, forestry, or fisheries as their primary focus.
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