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Renewable energy in Bangladesh: economic growth and policy perspectives

Swati Anindita Sarker (School of Economics and Management, University of Chinese Academy of Sciences, Beijing, China and School of Economics and Management, China University of Mining and Technology, Xuzhou, China)
Shouyang Wang (School of Economics and Management, University of the Chinese Academy of Sciences, Beijing, China)
K.M. Mehedi Adnan (Department of Agricultural Finance and Banking, Sylhet Agricultural University, Sylhet, Bangladesh and School of Economics and Management, China University of Mining and Technology, Xuzhou, China)
Prithila Pooja (Department of Agricultural Finance and Banking, Sylhet Agricultural University, Sylhet, Bangladesh)
Kaynath Akhi (Department of Agricultural Economics, Bangabandhu Sheikh Mujibur Rahman Agricultural University, Gazipur, Bangladesh)
Khadija Akter (Department of Agricultural Statistics, Sylhet Agricultural University, Sylhet, Bangladesh)

Journal of Science and Technology Policy Management

ISSN: 2053-4620

Article publication date: 15 July 2022

Issue publication date: 1 June 2023

155

Abstract

Purpose

The purpose of this study is to see the energy relation to economic growth and find a way to solve the energy crisis for Bangladesh. Bangladesh is facing a high rate depletion of traditional energy sources. Renewable energy technology may be an alternative solution to meeting Bangladesh’s rising energy demand. Despite huge potential, Bangladesh fails to use renewable energy sources properly due to insufficient information and technical knowledge. The present research studied the current energy condition and potentiality of renewable energy with its influence on economic growth in Bangladesh.

Design/methodology/approach

This study analyzes the relationship between renewable energy consumption and economic growth of Bangladesh for the period of 2001–2016, based on yearly data, by using multiple regression model where augmented Dickey–Fuller unit root test has been chosen for testing the viability.

Findings

The result of this study showed that economic growth of Bangladesh is influenced positively by the consumption of renewable energy.

Practical implications

In addition, SWOT analysis has also done to develop a roadmap, and suggest some policies which will be able to accomplish the country’s climbing energy demands for a short- and long-term solution.

Originality/value

This study is an original work for Bangladesh, showing the results of the relationship between renewable energy consumption and economic growth. Therefore, this research will be useful to contribute to the literature review in the near future.

Keywords

Acknowledgements

This research was supported by the “CAS-TWAS President’s Fellowship” and partially supported by The National Nature Science Foundation of China under Grant Nos 71390330 and 71390331.

Author’s contributions: S.A.S., S.W. and K.M.M.A. designed the study; S.A.S., K.M.M.A. and K.A. were responsible for data analysis; S.A.S., S.W. and K.M.M.A. wrote the manuscript; S.A.S., S.W., K.A., P.P., R.M.H. and K.A. reviewed and edited the manuscript; S.A.S. and S.W. were involved in submission of the manuscript; S.W. was responsible for funding of the project.

Citation

Sarker, S.A., Wang, S., Adnan, K.M.M., Pooja, P., Akhi, K. and Akter, K. (2023), "Renewable energy in Bangladesh: economic growth and policy perspectives", Journal of Science and Technology Policy Management, Vol. 14 No. 4, pp. 780-797. https://doi.org/10.1108/JSTPM-01-2019-0001

Publisher

:

Emerald Publishing Limited

Copyright © 2022, Emerald Publishing Limited

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