Social and equity considerations in technology transfer and sustainable development: A policy implication for low & lower-middle-income countries

Abstract

This research uses an operational approach to identify a new measure of the economic development gap. The statistic integrates a variety of economic growth indicators, including school enrollment rates, investment levels, employment rates, gender equality, availability of clean drinking water, foreign investment, and labor participation, into a single, simple metric. This method uses precise weights to represent many factors of economic growth. Using a broad dataset spanning 2002–2019 and including 128 nations, this study adopts a generalized method of moment regression framework to analyze the quadratic link between energy renewal and the economic progress gap. The results show that energy renewability is negatively correlated with the economic development gap in the form of an inverted U-shaped relationship. This study adds to the average regression analysis using panel quantile regression. This helps illustrate how the impact of renewable energy on the economic development gap varies at different levels. Countries are compared by grouping them into income levels. This helps us understand the differences and similarities in economic development between high-income, upper-middle-income, lower-middle-income, and low-income countries. This study is important because it is the first overall analysis of how energy use relates to differences in economic development around the world. The model serves as a basis for future research and policy-making. Our findings are important for policymakers and others seeking to balance renewable energy with economic growth. They can help create focused sustainable development strategies.