Publication Details
Abstract
The current energy transition, which is happening worldwide, is causing economic changes in energy-exporting nations through its dual effects of creating export diversification obstacles and generating new export opportunities. This research study examines how Algeria and Norway and Nigeria changed their export patterns during the period from 2010 to 2024 after switching from fossil fuels to renewable energy sources. The study uses a panel regression model and a comparative institutional approach to investigate how energy dependence and renewable energy adoption and institutional quality and per capita income affect export diversification. The results show that Algeria and Nigeria need to decrease their hydrocarbon dependency to achieve better diversification results while Norway shows how strong institutions and renewable energy investments create positive outcomes. The study shows that governance and structural transformation and renewable energy policies serve as essential elements which enable nations to achieve sustainable economic growth while decreasing their susceptibility to worldwide energy transition. The policy implications require institutions to be strengthened through clean energy investments and selected economic diversification programs.