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Assessing the Influence of Renewable Energy Consumption, Agricultural Growth, and Export Diversification on Sustainable Economic Growth and Development: Empirical Insight from G-20

Year: 2026

Type: article

Abstract: Achieving sustainable economic growth by addressing structural and environmental issues has become a top priority for decision-makers worldwide. This study investigates the impacts of renewable energy use, export diversification, and agricultural growth on sustainable economic development among G-20 economies. The analysis employs panel data from 1990 to 2021 with second-generation panel econometric methods, such as the PMG-ARDL test and dynamic panel estimation techniques, to elucidate both short- and long-term relationships. To examine the stationarity of the data series and identify cross-sectional dependence, this study applies some panel unit root tests, including the Cross-Sectionally Augmented Im and Pesaran test, the cross-sectional dependence (CSD) test, the Cross-Sectional Augmented Dickey–Fuller (CADF) test, and the Im, Pesaran, and Shin (IPS) test. The Westerlund co-integration test is employed to explore long-term relationships among the variables. To assess the prolonged impact of these factors, this study adopts the Pooled Mean Group–Autoregressive Distributed Lag (PMG-ARDL) approach. Findings reveal a statistically significant and persistent relationship between the variables, indicating that agricultural growth, renewable energy utilisation, and export diversification negatively affect economic growth. All insights highlight critical implications for G-20 policymakers; countries can develop a more resilient and sustainable economic pathway by addressing obstacles in agriculture, clean energy, and trade diversification.

Source: Sustainability

DOI: 10.3390/su18041939

Authors: Zakir Hossen Shaikh, Shah Husain, Mohd Fateh, Mohammad Noor Alam, Mohd Kadir Ansari

Institutions: Kingdom University, GITAM University, Aligarh Muslim University, University of Bahrain

Language: English

Topic: Energy, Environment, Economic Growth

Subfield: Economics and Econometrics

Field: Economics, Econometrics and Finance

Domain: Social Sciences

SDGs: Decent work and economic growth, Industry, innovation and infrastructure, Zero hunger

Open Access status: gold

Estimated APC paid: $2,896