The impact of renewable and non-renewable energy on sustainable development in South Asia

Sustainable development is South Asia's main objective and energy plays a vital role in achieving this objective. The main objective of this study was to use econometric tools to examine the impacts of renewable and non-renewable energy on sustainable development in South Asia using time series data over the period 1995-2019. First, the panel unit root tests were used to look for the unit root in each data series. Some of the data series were stationary at the level, while others were stationary at the first difference. Second, the panel ARDL technique was used to examine the short-term and long-term impacts of renewable and non-renewable energy on sustainable development. The panel ARDL results reveal that renewable and non-renewable energies have considerable long-term beneficial influence on sustainable development in South Asia. Third, several preliminary tests were used to confirm the reliability, stability and predictability of the panel ARDL parameters. The results of these diagnostic tests indicated that the parameters of the panel ARDL model are stable, predictable and reliable in the long term. Finally, the study outlined how various policy approaches can be used to drive sustainable development.