Employing Renewable Energy to Promote Sustainable Economic Growth: An Analysis of the Effects of Investment on Developing Countries
DOI:
https://doi.org/10.55737/qjss.799101535Keywords:
Renewable Energy Investment, Sustainable Economic Growth, Quantitative Analysis, Qualitative AnalysisAbstract
This study examines the influence that investments in renewable energy have on the long-term economic development of emerging nations via a comparative data analysis. In this work, a mix of quantitative econometric analysis and qualitative case studies is used to investigate the intricate processes that determine the link between the adoption of renewable energy and the outcomes of economic growth. The quantitative research reveals that positive associations are statistically significant between investments in renewable energy and several critical economic indicators. These indicators include GDP growth rates, employment levels, and average income levels per capita. Qualitative case studies, on the other hand, provide insights into the contextual elements that influence the performance of investments in renewable energy in specific developing country contexts. The findings of this study highlight the significant impact that strategic investments in renewable energy infrastructure have as a driver of sustainable economic growth. To get the greatest possible socioeconomic benefit from the implementation of renewable energy systems in various developing nation contexts, the research highlights the need to implement specific policy interventions and investment methods.
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