The Role of the Digital Economy and Sustainable Factors: Economic, Social, Environmental in Renewable Energy Consumption in Southeast Asia

Abstract

This study analyzes the role of the digital economy and sustainable factors: economic, social, and environmental in renewable energy consumption in Southeast Asia during the 2004 –2021 period. The aim of this research is to emphasize the important role of its in development and transformation of clean, environmental friendly energy. The contributions of this study support agencies of each country, including Vietnam, in determining correct and reasonable policies to achieve the goal of sustainable economic development. Based on panel data of 11 countries in Southeast Asia and regression model analysis techniques OLS, REM, FEM, FGLS to examine the relationship of the digital economy and sustainable factors: economic (GDP per capita, foreign direct investment, international trade), social (annual population growth), environmental (CO2 emissions) for renewable energy consumption. Research results show that there is a relationship between the factors of digital economy, international trade, CO2 emissions and renewable energy consumption; However, these factors have an impact on reducing renewable energy consumption, while the remaining factors are not statistically significant.