Role of Energy in Welfare-Related TFP: Evidence from BRICS

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Abstract

This study aims to investigate the role of alternative energy use (in contrast with conventional energy consumption) in welfare-related total factor productivity (WTFP) gains from BRICS countries. We highlight that welfare-related TFP is far more important than a simple energy-growth nexus in terms of energy policy formulations. The key findings reveal that alternative energy (use) is significantly increasing the welfare-related TFP from most of the BRICS countries. We also find that energy consumption in most of the BRICS countries is significantly related to the overall productivity, however insignificant with the welfare-related TFP. These results support the alternative energy hypothesis of welfare-related TFP gains from the majority of BRICS. This study offers a significant contribution to the current debate on the welfare effects of alternative energy use, which is gaining popularity due to its positive environmental effects on the economies.
Original languageEnglish
Publication statusUnpublished - 12 Jul 2021
EventAustralian Conference of Economists 2021: Wealth and wellbeing - Western Australia, Perth, Australia
Duration: 12 Jul 202114 Jul 2021
https://ace2021.org.au/

Conference

ConferenceAustralian Conference of Economists 2021
CountryAustralia
CityPerth
Period12/07/2114/07/21
Internet address

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