Nexus between energy consumption, information and communications technology, and economic growth: An enquiry into emerging Asian countries

Sharma, Gagan Deep and Rahman, Mohammad Mafizur and Jain, Mansi and Chopra, Ritika (2020) Nexus between energy consumption, information and communications technology, and economic growth: An enquiry into emerging Asian countries. Journal of Public Affairs:e2172. pp. 1-13. ISSN 1472-3891


Abstract

The development of every economic sector is significantly affected by information and communication technology (ICT), especially during the liberalization process. Though several studies have focused on economy–environment–financial development nexus, yet very limited literature has highlighted the impact of ICT on the relationship between economic growth, energy consumption, and financial development. We address this gap in the existing literature by investigating the nexus between ICT, energy consumption, and economic growth for a panel of 10 emerging and developing Asian countries selected on the bases of the highest current gross domestic product price (in US dollars), for a span of 17 years ranging from 2000 to 2017. Unlike the previous studies, this study employs the advanced econometric techniques that are robust to heterogeneities across nations and have proven to produce more reliable and efficient results. Our findings opine a bidirectional causality between ICT, energy consumption, and economic growth. Additionally, internet and mobile cellular subscriptions have a positive impact on economic growth, while energy consumption report negative impact, and the results for medium and high technological export reveals an insignificant impact on the economic growth of the 10 countries under study. Overall, the results are consistent for all the countries analyzed in this empirical study. The study provides valuable policy lessons to adopt ICT-enabled technologies that will bring innovative changes and further lead to increased economic growth. It is recommended that the government must promote green ICT technology and enhance the technological industry that shall lead to higher productivity and sustainable development.


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Item Type: Article (Commonwealth Reporting Category C)
Refereed: Yes
Item Status: Live Archive
Faculty/School / Institute/Centre: Historic - Faculty of Business, Education, Law and Arts - School of Commerce (1 Jul 2013 - 17 Jan 2021)
Faculty/School / Institute/Centre: Historic - Faculty of Business, Education, Law and Arts - School of Commerce (1 Jul 2013 - 17 Jan 2021)
Date Deposited: 01 Feb 2021 22:49
Last Modified: 10 Feb 2021 05:45
Uncontrolled Keywords: financial development; electricity consumption; ICT; impact; panel; cointegration; innovation; emissions; infrastructure; diffusion
Fields of Research (2008): 14 Economics > 1402 Applied Economics > 140202 Economic Development and Growth
14 Economics > 1403 Econometrics > 140304 Panel Data Analysis
14 Economics > 1402 Applied Economics > 140299 Applied Economics not elsewhere classified
Fields of Research (2020): 38 ECONOMICS > 3802 Econometrics > 380204 Panel data analysis
38 ECONOMICS > 3801 Applied economics > 380199 Applied economics not elsewhere classified
Socio-Economic Objectives (2008): B Economic Development > 91 Economic Framework > 9101 Macroeconomics > 910103 Economic Growth
B Economic Development > 85 Energy > 8598 Environmentally Sustainable Energy Activities > 859899 Environmentally Sustainable Energy Activities not elsewhere classified
Socio-Economic Objectives (2020): 15 ECONOMIC FRAMEWORK > 1502 Macroeconomics > 150203 Economic growth
Identification Number or DOI: https://doi.org/10.1002/pa.2172
URI: http://eprints.usq.edu.au/id/eprint/41005

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