Economic and tourism growth impact on the renewable energy production in Vietnam

Abstract

High economic and tourism growth demand extensive energy production that needs the energy creation industry's attention and demands the researchers' and policymakers' emphasis. Hence, the present study examines the impact of economic and tourism growth on renewable energy production (REP) in Vietnam. The present research has taken the gross domestic product (GDP), exports, human capital, and employment rate to measure the economic growth, while international tourism receipts and expenditures have been used to measure the tourism growth. The secondary data have been extracted from 1983 to 2020 using World Development Indicators (WDI) database. The Nonlinear Autoregressive Distributed Lagged (NARDL) model has been applied to investigate the linkage between the constructs. The findings indicated that GDP, exports, human capital, employment rate, international tourism receipts, and expenditures have a significant and positive relationship with REP in Vietnam. These results guide the regulators while making regulations related to the extensive energy production in return for high economic and tourism growth.

Keywords: Economic growth; Employment; Energy production; Exports; Human capital; International tourism receipts and expenditures; Tourism growth.