@ARTICLE{Nishat_Sabrina_Akter_Economic_2023,
 author={Nishat, Sabrina Akter and Ahmed, Zobayer and Faruque, Omar and Hasan, Kamrul and Hossain, Arafat},
 volume={vol. 26},
 number={No 1},
 journal={Polityka Energetyczna - Energy Policy Journal},
 pages={111-132},
 howpublished={online},
 year={2023},
 publisher={Instytut Gospodarki Surowcami Mineralnymi i Energią PAN},
 abstract={This paper investigates the relationship between energy use and economic development in five South-Asian countries using national-level panel data from 1990 to 2014. Although many studies have already addressed the nexus between energy consumption and economic growth, there is a mixed finding. According to many researchers, South Asian countries have expanded energy consumption since the 1990s. Therefore, energy consumption as a variable for a specific period is considered for the countries of Bangladesh, India, Nepal, Pakistan and Sri Lanka. Furthermore, foreign direct investment (FDI) and international trade (IT) are also considered to be related variables in this study. Pooled ordinary least squares, random effects, and fixed effects estimation techniques are used to provide a reliable estimation, offsetting the country fixed effects. The fixed effect model is the most effective model that reveals the association between electricity usage and growth factors, as per the specification test and Hausman test. A statistically significant correlation was found between international trade, FDI, economic growth, and power usage. FDI has the highest impact on the rising power demand, followed by global commerce and per capita GDP (gross domestic product). More specifically, the study findings reveal that increased power consumption causes more investment, which results in increased economic growth in South Asian countries. The findings of the study further show that FDI significantly impacted upon power consumption and the area of SAARC’s energy demand, resulting in the entry of new technology and an increase in both economic growth and energy consumption. Future policies may focus on investment in the energy sector to promote economic development.},
 type={Article},
 title={Economic development and the energy consumption nexus in developing countries: evidence from five South Asian countries},
 URL={http://journals.pan.pl/Content/126884/PDF-MASTER/07-Nishat-i-inni.pdf},
 keywords={electricity consumption, energy, GDP per capita, FDI, international trade, panel data, SAARC region},
}