The importance of renewable energy consumption and CO₂ emissions in formulating Sustainable Development Index: An economic-environmental analysis based on the ARDL model
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Author(s)Dilshod KarimboevLink to ORCID Index: https://orcid.org/0009-0004-3999-9461
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Yulduz YaqubovaLink to ORCID Index: https://orcid.org/0009-0008-0002-9504
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Intizor MatkarimovaLink to ORCID Index: https://orcid.org/0009-0004-2518-8473
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Majidbek JabbarovLink to ORCID Index: https://orcid.org/0009-0001-5987-0057
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Inomjon MatkarimovLink to ORCID Index: https://orcid.org/0000-0002-6783-8591
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Erkinbay IsmailovLink to ORCID Index: https://orcid.org/0000-0002-7320-6435
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Anvar MatnazarovLink to ORCID Index: https://orcid.org/0009-0000-7420-8742
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DOIhttp://dx.doi.org/10.21511/ee.16(2).2025.13
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Article InfoVolume 16 2025, Issue #2, pp. 173-185
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9 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
This study examines the impact of renewable energy consumption, CO₂ emissions, and renewable electricity generation on the Sustainable Development Index in Uzbekistan over the period 1990–2023. Using an autoregressive distributed lag (ARDL) model, the study estimates the short- and long-run relationships between these variables. The Sustainable Development Index is constructed using indicators of primary school enrollment, life expectancy at birth, and female labor force participation using a min-max normalization method. The results indicate a long-run positive impact of renewable energy consumption (β = 0.0552, p < 0.05), underscoring its significant contribution to sustainable development. Conversely, renewable electricity generation has a significant negative impact in the long run (–0.0153, p < 0.01), which may be due to initial high transformation costs and short-term economic adjustments. CO₂ emissions did not have a statistically significant impact on the Sustainable Development Index. The model is robust, with no autocorrelation or heteroscedasticity issues, indicating reliable results. This study underscores the importance of strategic investments in renewable energy and offers valuable insights for policy development, thereby enhancing Uzbekistan’s sustainable development trajectory.
- Keywords
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JEL Classification (Paper profile tab)Q42, Q56, C32
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References39
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Tables10
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Figures0
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- Table 1. Variables, measurements, and sources of data
- Table 2. Descriptive statistics
- Table 3. Unit root test results (Intercept)
- Table 4. Lag-order selection criteria
- Table 5. ARDL bound test results
- Table 6. ARDL (2,1,2,3) regression results
- Table 7. Breusch-Godfrey LM test for autocorrelation
- Table 8. Breusch-Pagan/Cook-Weisberg test for heteroskedasticity
- Table 9. White’s test results
- Table 10. Ramsey RESET test for omitted variables
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Rabiul Islam 
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Ahmad Bashawir Abdul Ghani ,
Irwanshah Zainal Abidin ,
Jeya Malar Rayaiappan
doi: http://dx.doi.org/10.21511/ppm.15(1).2017.05
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Impact of inflation on economic growth: evidence from Nigeria
Anthony Olugbenga Adaramola ,
Oluwabunmi Dada
doi: http://dx.doi.org/10.21511/imfi.17(2).2020.01
Investment Management and Financial Innovations Volume 17, 2020 Issue #2 pp. 1-13 Views: 10361 Downloads: 6029 TO CITE АНОТАЦІЯIn an attempt to examine the influence of inflation on the growth prospects of the Nigerian economy, the study employs the autoregressive distributed lag on the selected variables, i.e. real gross domestic product (GDP), inflation rate, interest rate, exchange rate, degree of economy`s openness, money supply, and government consumption expenditures for the period 1980–2018. The study findings indicate that inflation and real exchange rate exert a significant negative impact on economic growth, while interest rate and money supply indicate a positive and significant impact on economic growth. Other variables in the model depict no influence on the economic growth of Nigeria. The causality result shows the unidirectional relationships between interest rate, exchange rate, government consumption expenditures and gross domestic product. However, inflation and the degree of openness show no causal relationship with gross domestic product. As a result, the study recommends that a more pragmatic effort is needed by the monetary authorities to target the inflation vigorously to prevent its adverse effect by ensuring a tolerable rate that would stimulate the economic growth of Nigeria.
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Formalization of the impact of imbalances in the movement of financial resources on economic growth of countries in Central and Eastern Europe
Serhiy Kozmenko ,
Maxim Korneyev
doi: http://dx.doi.org/10.21511/afc.01(1).2017.06
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