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Sustainable economic development in OECD countries: Does energy security matter? by Abdulrasheed Zakari; Hammed Oluwaseyi Musibau is a Business, Management and Accounting article available to read on EtoBox.

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## Abstract Given its versatility, energy security's importance to economic growth cannot be overstated. Existing empirical research has not, however, taken into account the significance of energy security in achieving sustainable economic and financial development. The objective of this study is to provide an empirical response to the question, “How can we exploit energy potentials without compromising the sustainable development agenda?”. Our research indicates that energy security enhances economic and financial sustainability. However, the influence varies between quantiles. Initially, energy security inhibited sustainable economic development; this may have been due to excessive reliance on fossil fuel as a source of energy generation; however, the energy transition to renewable energy mitigated this negative impact, thereby fostering sustainable economic development. Likewise, energy security promotes long‐term sustainable financial development. Energy security is the heart of sustainable economic and financial development hence, the need for diversification of energy sources by promoting the adoption of renewable energy technologies became necessary. Encourage investments in

Who reads Sustainable economic development in OECD countries: Does energy security matter??

Author

Abdulrasheed Zakari; Hammed Oluwaseyi Musibau

Publisher

Wiley

Published

2023

Language

EN

Field

Business, Management and Accounting (Social Sciences)