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Effects of remittances on renewable energy consumption: Evidence from instrumental variable estimation with panel data |
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| Affiliation: | 1. Water and Environmental Engineering Laboratory, Department of Earth System Science and Technology, Kyushu University, Kasuga-koen 6-1, Kasuga-shi, Fukuoka 816-8588, Japan;2. International Institute for Carbon-Neutral Energy Research (WPI-I2CNER), Kyushu University, 744 Motooka, Nishi-ku, Fukuoka 819-0395, Japan;3. Department of Psychology, University of Dhaka, Dhaka 1000, Bangladesh;4. Department of Statistics, University of Dhaka, Dhaka 1000, Bangladesh |
| Abstract: | This study investigates the impact of remittances on renewable energy consumption (REC) using a panel of 25 top remittance-receiving countries for 1990–2018. We use a generalized two-stage least squares random effect model to estimate the impact of remittance on renewable energy use. Results showed that remittances and REC have a generally positive relationship among the studied nations. Governments may create a system to incentivize remittance-receiving households to adopt and utilize more carbon-neutral energy devices at a lower cost if they pay with remittances. This approach could lead to higher societal adoption and consumption of green energy. |
| Keywords: | Generalized two-stage least square (G2SLS) Remittance Renewable energy consumption |
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