Unpacking the Role of Renewable Energy Integration and Green Trade Policies on Environmental quality and Carbon-Neutral Economic Growth: A Dynamic Comparative Analysis of South Asian Economies

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Published Sep 30, 2023
https://doi.org/10.61506/02.00363
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Vol. 10 No. 3 (2024): Journal of Policy Research

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Ibrahim Omar Ibrahim Almajali
School of Economics and Trade, Hunan University, Changsha 410006, China.
Sarab Salker Alaflaq
School of Economics and Trade, Hunan University, Changsha 410006, China.
Omar Ahmad Yousef Alkhatatneh
Department of Civil Engineering, Faculty of Engineering, China University of Geosciences, Wuhan, Hubei 430074, China
Ali Hassan
School of Economics and Trade, Hunan University, Changsha, 410006, China.

Abstract

The purpose of this study is to measure the efficiency of green trade policies to encourage appropriate economic behavior. Some of the friendly trade eco policies such as Eco friendly trade agreement, –Carbon Tariffs, Technology transfers seek to spur some level of eco responsibility and reduce the economic infringements on the ecology. This research, therefore, seeks to examine the role of these policies in enhancing carbon neutral growth and their relevance as an instrument for development in South Asia. We conducted comparative research on South Asian countries regarding " the Role of Renewable Energy Integration and Green Trade Policies on Environmental quality and Carbon-Neutral Economic Growth: A Dynamic Comparative Analysis of South Asian Economies "using data from selected emerging nations. Data was gathered from the World Bank website, covering the period from 2001 to 2022, alongside data from Organizations such as the World Bank, IMF, Asian Development Bank, and Asian bank provide extensive datasets and publications related to Renewable Energy Integration and Green Trade Policies, Environmental quality and Carbon-Neutral Economic Growth. We conducted robustness checks, pairwise correlation tests, linear regression, symmetry analysis, and VIF tests. The present research contributes towards understanding the details of the interactions between RE integration, green trade policies and economic development of SA economies. The results reveal the importance of renewable energy sources in enhancing environmental quality as well as produce vivid revelation of the effect of CO₂ emissions on the environment. Increase in GDP has been predicted by the green trade policies thus indicating that sustainability of trade policies can enhance the growth of the economy hence supporting the economic hypothesis, about sustainability of trade polices but there impact on quality of outputs is unknown. Besides, technological advancement as an impediment of economic development as an element of innovation for a low-carbon economy. On the other hand, negative correlation between labor force participation and GDP reveals Lounge that calls for labor market changes with respect to productivity and efficiency.

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How to Cite
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Almajali, I.O.I. , Alaflaq, S.S. , Alkhatatneh, O.A.Y. and Hassan, A. 2023. Unpacking the Role of Renewable Energy Integration and Green Trade Policies on Environmental quality and Carbon-Neutral Economic Growth: A Dynamic Comparative Analysis of South Asian Economies. Journal of Policy Research. 10, 3 (Sep. 2023), 447–458. DOI:https://doi.org/10.61506/02.00363.
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