World Summit on Management Sciences
  • Follow

Accepted Abstracts

The Impact of Renewable Energy Consumption on Economic Growth: Study in Southeast Asia

Tajul Ula*
Universitas Ubudiyah Indonesia, Indonesia

Citation: Ula T (2020) The Impact of Renewable Energy Consumption on Economic Growth: Study in Southeast Asia. SciTech Management Conferences 2020. 

Received: February 27, 2020         Accepted: March 02, 2020         Published: March 02, 2020

Abstract

The fulfillment of energy needs for a country in this modern era is very important in supporting economic activities. Excessive energy use where those energies come from nature like petroleum, gas, coal and others can cause negative effects for the environment. Therefore, authorities should seek to seek alternative energy provision that can replace energy sources that have a bad impact on the environment. In this study using the OLS approach model and the data used are Per-Capita GDP, Gross Fixed Capital Formation (GFCF), number of workers, and renewable energy consumption in the Asean countries group within the period 1991-2013. The results showed that renewable energy consumption contributed positively to economic growth in Asean countries, albeit in small quantities. Therefore, it is advisable for leaders in Asean countries to improve cooperation in the form of development and increase investment in renewable energy, so that its use is maximal and positively impact economic growth. And a constantly awake environment. 
Keywords: Renewable energy consumption, Gross Fixed Capital Formation, Economic growth, Environment, Asean, OLS approach model
Abbreviations: Gross Fixed Capital Formation (GFCF), Gross Domestic Product (GDP), Ordinary Least Square (OLS)