The impact of governance, innovation, and macroeconomic factors on renewable energy generation in ASEAN: A Bayesian approach

Saizal Pinjaman and Mcxin Tee and Wong Sing Yun and Sarimah Surianshah and Haryo Kuncoro and Liangyan Lu and Zhu Ling (2025) The impact of governance, innovation, and macroeconomic factors on renewable energy generation in ASEAN: A Bayesian approach. Cogent Economics & Finance, 13. pp. 1-22. ISSN 2331-1983

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Abstract

This study investigates the influence of governance, innovation, and macroeconomic factors on renewable energy generation in ASEAN (2002–2022). It examines how eco- nomic growth, education, governance quality, capital formation, oil rents, foreign direct investment (FDI), and innovation influence renewable energy generation. By employing Bayesian regression, the results reveal that higher economic growth boosts renewable energy generation, while governance and capital formation negatively impact it. FDI and innovation also negatively influence renewable energy generation, indicating gaps in attracting FDI and translating innovation into practice. Policymakers need to promote equitable wealth distribution and enhance governance frameworks. The results also emphasize the importance of targeted policies to promote sustainable energy development by redirecting investments towards green sectors and utilizing oil rents for renewable energy projects. Additionally, improving intellectual property protection and providing support for small enterprises in the renewable energy sector enhance the practical application of innovations. These strategies are crucial for advancing renewable energy development in ASEAN, contributing to a sustainable energy future.

Item Type:	Article
Keyword:	Environmental Economics, Economics, Business, Management and Accounting
Subjects:	H Social Sciences > HC Economic history and conditions > HC10-1085 Economic history and conditions > HC79 Special topics Including air pollution, automation, consumer demand, famines, flow of funds, etc. H Social Sciences > HF Commerce > HF1-6182 Commerce > HF5001-6182 Business > HF5601-5689 Accounting. Bookkeeping
Department:	FACULTY > Faculty of Science and Technology
Depositing User:	JUNAINE JASNI -
Date Deposited:	29 Sep 2025 16:36
Last Modified:	29 Sep 2025 16:36
URI:	https://eprints.ums.edu.my/id/eprint/45284

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