Energy Poverty, Economic Growth, and Industrialization Nexus in South Asian Countries: Panel Data Analysis
Keywords:
Energy poverty, Panel data, Econometrics, South Asia, Sustainable Development GoalsAbstract
Energy inflation is measured as a person's inability to obtain sufficient energy sources. It's a diverse and complicated issue. This study investigates how economic growth, industrialization, urbanization, and employment in South Asian countries are all linked to energy poverty. In the South Asian region, the relationship between these factors has not been thoroughly examined. This study uses the panel data collected from South Asia’s most energy-intensive countries from 1995 to 2000. Advanced econometric methodologies and panel estimations are applied to explore the dynamic relationship. The long-run co-integration study reveals that economic growth reduces but industrialization increases energy poverty in these countries. Furthermore, energy poverty has a negative association with employment but a positive association with urbanization. The findings offer a framework for energy policymakers to establish policies that will assist them to meet the Sustainable Development Goals' objectives (SDGs).
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