The Effect of Renewable Energy Consumption, Carbon Dioxide Emissions, and Globalization on Economic Growth in BRICS Countries

Nabila Khoirunisa; Dicky Iranto; Siti Fatimah Zahra

doi:10.59890/ijfbm.v3i4.79

Authors

Nabila Khoirunisa Universitas Negeri Jakarta
Dicky Iranto Universitas Negeri Jakarta
Siti Fatimah Zahra Universitas Negeri Jakarta

DOI:

https://doi.org/10.59890/ijfbm.v3i4.79

Keywords:

GDP, Economic Growth, Renewable Energy, Carbon Dioxide, Globalization

Abstract

This study aims to investigate the impact of renewable energy consumption, carbon dioxide emissions, and globalization on economic growth in BRICS countries (Brazil, Russia, India, China, and South Africa). The data used are gross domestic product, renewable energy consumption, carbon dioxide emissions, and the KOF globalization index from 1990 to 2022, obtained from the World Bank, the Energy Institute, the European Commission, and ETH Zurich. The data were analyzed using multiple regression of panel data with a fixed-effect model. The results of the study show that renewable energy consumption, carbon dioxide emissions, and globalization simultaneously have an effect on GDP. Partially, renewable energy consumption and globalization have a significant positive effect on GDP, while carbon dioxide emissions have a significant negative effect on GDP in BRICS countries.

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