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Investigating the Impact of Good Governance and Economic Growth on Renewable and Non-Renewable Energy Consumption: Evidence from the Gas Exporting Countries Forum

Document Type : Original Article

Authors

1 Assistant Professor, Department of Economics, Faculty of Literature and Humanities, Ilam University, Ilam, Iran.

2 M.Sc. in Economics, Department of Economics, Faculty of Literature and Humanities, Ilam University, Ilam, Iran.

Abstract

Good governance is critical for developing environmental policies to promote renewable energy consumption and prevent non-renewable energy consumption. In this research, in addition to the two methods of dynamic ordinary least squares (DOLS) and fully modified least squares (FMOLS) from the data of the period 1996 to 2021, It has been used to investigate the effect of economic growth and various governance indicators on renewable and non-renewable energy consumption in 11 selected countries of the Gas Exporting Countries Forum. The results show that economic growth has a positive effect on all renewable and non-renewable energy sources. The effect of regulatory quality and rule of law is negative on non-renewable energy sources and government effectiveness positively affects the consumption of all energy sources. Corruption control also increases the consumption of renewable and non-renewable energy; this is while, except for coal, political stability has a negative effect on non-renewable and renewable energy sources. Finally, the results show that the magnitude of the effects of economic growth and most governance indicators on non-renewable energy consumption is greater than that of renewable energy. These results suggest that countries should focus on improving the rule of law, corruption control, governance, regulatory quality,

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References
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Economic Policies and Research
Volume 3, Issue 2 - Serial Number 10
August 2024
Pages 1-29
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