The Applications of the Economics of New & Renewable Energy: A Case Study of Egypt

Karim Badr El-Din Attia Hassanien

Abstract


Purposes –This research paper focuses on the application of the environmental economics of new and renewable energy in this respect in both the developed countries, and in the developing, then applying this in the case of Egypt. This in fact deals with several pillars that provide for studying the effect of the application of the environmental resource economics on key macroeconomic variables related to development and growth.Design/methodology/approach –The common acceptable measures of the impact of new and renewable energy on the process of development and that of the growth are researched and analyzed. The analysis covers the effect on key macroeconomic variables. The methodology used in this study provide for a comparative analysis of the case of the developed countries versus that of the developing countries with extended application on the case of Egypt.Findings, Originality/value - The research work is an original combination of integrated framework of the analysis of the role of the environmental economics of new and renewable energy in the process of economic development and growth. The findings of econometric running of the Egypt’s data explored that there is a very strong correlation with a Pearson correlation coefficient of degree one (r = 1) between the GDP and the “New & Renewable Energy Consumption in '000 Current USD” in one hand, and between the GDP per capita and the “New & Renewable Energy Consumption in '000 Current USD” in the other hand.The study made set of recommendations concerning the possible means to help the developing countries.Key words – The Environmental Economics of New and Renewable Energy, Innovation economics, Research and Development (R&D), Technology, Macroeconomic variables, Gross Domestic Products (GDP).

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