RENEWABLE ENERGY AND MACROECONOMIC STABILITY IN CENTRAL ASIA: PATHWAYS WITHIN THE GREEN ECONOMY
DOI:
https://doi.org/10.5281/zenodo.17571463Keywords:
Renewable energy, Dutch Disease, Solow growth model, macroeconomic stability, Central AsiaAbstract
Central Asian economies face persistent vulnerabilities due to their reliance on fossil fuel exports, which expose
them to external price volatility and fiscal instability. This article investigates the potential role of renewable energy in
promoting macroeconomic stability through the theoretical lenses of the Dutch Disease model and the Solow Growth
model. By integrating these frameworks, the study examines how renewable energy investment can mitigate resource
dependence, stabilize fiscal and external balances, and support long-term economic growth. Results suggest that
renewable energy adoption offers a pathway toward resilience, although short-term risks related to inflation, fiscal strain,
and labor market disruptions remain. The discussion emphasizes the importance of managing the transition through
prudent fiscal policies, just transition strategies, and regional cooperation
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