THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION AND HUMAN DEVELOPMENT
This article examines the relationship between renewable energy consumption and human development indicators in Moldova. The analysis, spanning from 1995 to 2021, employs econometric techniques, including Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) regression, to investigate the...
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| Language: | English |
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National Institute for Economic Research
2024-06-01
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| Series: | Economy and Sociology |
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| Online Access: | https://economy-sociology.ince.md/index.php/Economy_and_Sociology/article/view/181/193 |
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| author | Aliona Balan |
| author_facet | Aliona Balan |
| author_sort | Aliona Balan |
| collection | DOAJ |
| description | This article examines the relationship between renewable energy consumption and human development indicators in Moldova. The analysis, spanning from 1995 to 2021, employs econometric techniques, including Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) regression, to investigate the impact of renewable energy on the Human Development Index (HDI). The findings reveal a positive correlation between renewable energy consumption and HDI, indicating that increased adoption of renewable energy is associated with improvements in human development. Specifically, the study finds that a one-percentage-point increase in renewable energy consumption leads to approximately a 1.6% increase in HDI. Moreover, the article discusses Moldova's energy policy landscape, highlighting initiatives and policies aimed at promoting renewable energy development and achieving sustainability goals. The conclusions drawn from this study emphasize the critical importance of prioritizing renewable energy solutions. Such prioritization is deemed essential for driving sustainable development, fostering economic growth, bolstering energy security, and mitigating the adverse impacts of climate change. The study underscores that Moldova's experience and policy initiatives could serve as a valuable model for other nations aiming to enhance their human development through sustainable energy practices. This research argues for a continued and intensified focus on the integration of renewable energy, highlighting its fundamental importance within national and international strategies aimed at achieving ambitious human development and sustainability goals. This involves a reassessment and expansion of current commitments, considering not only the ecological benefits, but also the long-term economic and social impact, thereby strengthening a sustainable future for future generations. |
| format | Article |
| id | doaj-art-bdd8912458d2404c804071958e67e60b |
| institution | Kabale University |
| issn | 2587-4187 2587-4195 |
| language | English |
| publishDate | 2024-06-01 |
| publisher | National Institute for Economic Research |
| record_format | Article |
| series | Economy and Sociology |
| spelling | doaj-art-bdd8912458d2404c804071958e67e60b2025-01-17T13:49:41ZengNational Institute for Economic ResearchEconomy and Sociology2587-41872587-41952024-06-01115056https://doi.org/10.36004/nier.es.2024.1-05THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION AND HUMAN DEVELOPMENTAliona Balan0https://orcid.org/0000-0003-0094-7272National Institute for Economic Research, Academy of Economic Studies of MoldovaThis article examines the relationship between renewable energy consumption and human development indicators in Moldova. The analysis, spanning from 1995 to 2021, employs econometric techniques, including Ordinary Least Squares (OLS) and Two-Stage Least Squares (2SLS) regression, to investigate the impact of renewable energy on the Human Development Index (HDI). The findings reveal a positive correlation between renewable energy consumption and HDI, indicating that increased adoption of renewable energy is associated with improvements in human development. Specifically, the study finds that a one-percentage-point increase in renewable energy consumption leads to approximately a 1.6% increase in HDI. Moreover, the article discusses Moldova's energy policy landscape, highlighting initiatives and policies aimed at promoting renewable energy development and achieving sustainability goals. The conclusions drawn from this study emphasize the critical importance of prioritizing renewable energy solutions. Such prioritization is deemed essential for driving sustainable development, fostering economic growth, bolstering energy security, and mitigating the adverse impacts of climate change. The study underscores that Moldova's experience and policy initiatives could serve as a valuable model for other nations aiming to enhance their human development through sustainable energy practices. This research argues for a continued and intensified focus on the integration of renewable energy, highlighting its fundamental importance within national and international strategies aimed at achieving ambitious human development and sustainability goals. This involves a reassessment and expansion of current commitments, considering not only the ecological benefits, but also the long-term economic and social impact, thereby strengthening a sustainable future for future generations.https://economy-sociology.ince.md/index.php/Economy_and_Sociology/article/view/181/193sustainable developmentrenewable economyhdirenewable energy promotion policiesrepublic of moldova |
| spellingShingle | Aliona Balan THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION AND HUMAN DEVELOPMENT Economy and Sociology sustainable development renewable economy hdi renewable energy promotion policies republic of moldova |
| title | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION AND HUMAN DEVELOPMENT |
| title_full | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION AND HUMAN DEVELOPMENT |
| title_fullStr | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION AND HUMAN DEVELOPMENT |
| title_full_unstemmed | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION AND HUMAN DEVELOPMENT |
| title_short | THE RELATIONSHIP BETWEEN RENEWABLE ENERGY CONSUMPTION AND HUMAN DEVELOPMENT |
| title_sort | relationship between renewable energy consumption and human development |
| topic | sustainable development renewable economy hdi renewable energy promotion policies republic of moldova |
| url | https://economy-sociology.ince.md/index.php/Economy_and_Sociology/article/view/181/193 |
| work_keys_str_mv | AT alionabalan therelationshipbetweenrenewableenergyconsumptionandhumandevelopment AT alionabalan relationshipbetweenrenewableenergyconsumptionandhumandevelopment |