Revisiting the Nexus Between Renewable and Non-renewable Energy, CO2 Emissions, and Economic Growth: An Empirical Application to Asian and African Economies

This study evaluates the nexus between renewable and non-renewable energy, carbon dioxide emissions, labor force, gross capital formation, human capital, trade openness, crude oil prices, urban and rural access to electricity, on the economic growth. In empirical terms, we used aggregate data for the 2005–2018 period, in 22 Asian and 22 African economies, using Generalized Method of Moments (GMM) methodologies. The empirical evidence reveals that non-renewable energy has a positive and significant impact on Gross Domestic Product (GDP) per capita, for both African and Asian countries.