Panel descriptive statistics.

The study aims to investigate the impact of social, economic and political globalization on the renewable energy-economic growth nexus in a panel of six Asian emerging economies over the period 1975–2020. The results of the CS-ARDL approach show that renewable energy consumption contributes significantly to long run economic growth. Economic and political globalization firmly hold back economic growth, while social globalization directly promotes economic growth. The nonlinear effects of political, social, and economic globalization on economic growth clearly demonstrate the validity of the inverted U-shaped relationship between political globalization, economic globalization, and economic growth, and the U-shaped relationship between social globalization and economic growth. The study also found that economic, social and political globalization moderated the impact of renewable energy on boosting economic growth. Based on the renewable energy consumption model, it is revealed that economic growth significantly promotes long run renewable energy consumption. Economic, social, and political globalization have significantly boosted long run renewable energy consumption. However, the nonlinear effect model reflects a U-shaped relationship between globalization indicators and renewable energy consumption. The interaction of political, economic, and social globalization with economic growth has also witnessed an increase in renewable energy consumption, which supports the scale effect hypothesis. The causality test concludes that there is a two-way causal relationship between renewable energy consumption and economic growth, thus supporting the feedback hypothesis. The policy implications for Asian emerging economies are discussed based on the empirical analysis of this study.本研究旨在探究1975年至2020年期间，六个亚洲新兴经济体的面板样本中，社会、经济与政治全球化对可再生能源-经济增长关联的影响。CS-ARDL方法的结果显示，可再生能源消费对长期经济增长具有显著的正向推动作用。经济全球化与政治全球化均显著抑制经济增长，而社会全球化则直接促进经济增长。政治、社会及经济全球化对经济增长的非线性效应清晰验证了：政治全球化、经济全球化与经济增长之间呈倒U型关系，而社会全球化与经济增长之间则呈U型关系。本研究同时发现，经济、社会与政治全球化会调节可再生能源对经济增长的提振效应。基于可再生能源消费模型的分析表明，经济增长可显著促进长期可再生能源消费；经济、社会及政治全球化均显著提升了长期可再生能源消费水平。不过，非线性效应模型则显示，各全球化指标与可再生能源消费之间呈U型关系。政治、经济与社会全球化分别与经济增长的交互作用亦推动了可再生能源消费的增长，这证实了规模效应假说。因果检验结果表明，可再生能源消费与经济增长之间存在双向因果关系，从而支持反馈假说。本研究基于上述实证分析结果，探讨了面向亚洲新兴经济体的政策启示。