Document Type : Research Paper
Authors
1 Master of Economics, Faculty of Administrative & Economics Sciences Ferdowsi University, Mashhad, Iran.
2 Full Professor, Department of Economics, Faculty of Administrative & Economics Sciences, Ferdowsi University, Mashhad, Iran.
3 Associate Professor, Department of Economics, Faculty of Administrative & Economics Sciences, Ferdowsi University, Mashhad, Iran
4 Economics Group, Faculty of Administrative and Economics Sciences, Ferdowsi University of Mashhad, Iran
Abstract
People's access to energy resources and poverty reduction are considered as prerequisites for achieving sustainable development goals. Also, the lack of proper governance in the economy, corruption, and inefficiency of the governments has created an energy crisis for the countries that own these resources. Therefore, this research examines the impact of energy consumption intensity and good governance on economic growth using the dynamic panel data method for 12 OPEC member countries in the period 2002-2019. The results show that there is a positive and significant relationship between the intensity of energy consumption and good governance on economic growth. The formation of gross fixed capital and urban density also have a positive and significant effect, and on the other hand, inflation and unemployment have a negative and significant effect on the economic growth of the studied countries. Also, the interactive effect of the intensity of energy consumption and good governance on economic growth has been positive and significant. According to the findings of the research, the countries in question should pay more attention to the correct economic governance, especially in the use of energy resources, as well as the fight against systematic corruption to prevent the waste of energy resources, so that they can provide the basis for economic growth and development in their country with more efficiency and productivity in energy consumption.
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