Asymmetrical effects of renewable energy consumption, financial development, and urbanization on the economic growth of China: does the role of technology matters

Our paper investigates the association of renewable energy, financial development, urbanization, and growth in China along with technology. The newly developed econometric techniques (asymmetries) have been applied to explore short and long-run nonlinear relation among variables by utilizing annual data for the period of 1965-2021. In nonlinear cointegration, findings highlight the importance of renewable energy consumption for growth and development. Urbanization also confirms a positive association with growth and development where positive shocks were more dominant to support the growth process. The stock of technology brings a positive impact on growth and development whereas financial development results reveal to consider policy carefully. Asymmetric causality supports a uni-directional causal association between renewable energy, financial development, and growth. Policy recommendations are also highlighted according to the results.