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Macroeconomic Modelling Towards Achieving Sustainable Development Goal-13 in India

Year: 2025

Type: article

Abstract: This study develops a macroeconomic model to examine the relationships between the energy sector, economic growth and the environment in India over the period 1971 to 2021. Aligning with the United Nations SDG-13 and using the Seemingly Unrelated Regression Equation (SURE) model, we find that the services and agriculture sectors, non-renewable energy consumption, government expenditure, money supply, carbon dioxide emissions per capita, inflation, and population are crucial factors. The services sector and government spending notably impact economic growth and environmental degradation due to increased energy demand and emissions.

Source: Bulletin of Monetary Economics and Banking

DOI: 10.59091/2460-9196.2377

Authors: Aqib Mujtaba, Pravakar Sahoo, Pabitra Kumar Jena

Institutions: Akal University, University of Delhi, Institute of Economic Growth, National Institution for Transforming India Aayog, Shri Mata Vaishno Devi University

Language: English

Topic: Energy, Environment, Economic Growth

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Climate action, Industry, innovation and infrastructure, Decent work and economic growth

Open Access status: diamond

OpenAlex ID: W4408013965

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