Renewable energy transition and environmental sustainability through economic complexity in BRICS countries: Fresh insights from novel method of Moments Quantile regression

2021 ◽  
Author(s):  
Yunpeng Sun ◽  
Qun Bao ◽  
Wei Siao-Yun ◽  
Misbah ul Islam ◽  
Asif Razzaq
Keyword(s):  
Renewable Energy ◽  
Quantile Regression ◽  
Method Of Moments ◽  
Environmental Sustainability ◽  
Energy Transition ◽  
Economic Complexity ◽  
Brics Countries ◽  
Novel Method

scholarly journals Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

2021 ◽  
Vol 9 ◽  
Author(s):  
Kai He ◽  
Muhammad Ramzan ◽  
Abraham Ayobamiji Awosusi ◽  
Zahoor Ahmed ◽  
Mahmood Ahmad ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Transition Economies ◽  
Carbon Emissions ◽  
Environmental Sustainability ◽  
Energy Transition ◽  
Cross Sectional ◽  
Economic Complexity ◽  
Long Run ◽  
The Government

The association between economic complexity (sophisticated economic structure) and carbon emissions has major implications for environmental sustainability. In addition, globalization can be an important tool for attaining environmental sustainability and it may also moderate the association between economic complexity and carbon emissions. Thus, this research examines the effects of economic complexity, economic growth, renewable energy, and globalization on CO2 emissions in the top 10 energy transition economies where renewable energy and globalization have greatly increased over the last 3 decades. Furthermore, this study also evaluates the joint effect of globalization and economic complexity on carbon emissions. Keeping in view the presence of slope heterogeneity and cross-sectional dependence in the data, this research utilized second-generation unit root tests (CIPS and CADF), Westerlund cointegration approach, and CS-ARDL and CCEMG long-run estimators over the period of 1990–2018. The results affirmed the presence of cointegration among the considered variable. Long-run findings revealed that globalization, renewable energy, and economic complexity decrease carbon emissions. Conversely, economic growth increases carbon emissions. Moreover, the joint impact of economic complexity and globalization stimulates environmental sustainability. Based on these findings, the government of these groups of economies should continue to expand the usage of renewable energy. They should also promote interaction with the rest of the world by adopting the policy of opening up.

scholarly journals Foreign Direct Investments, Renewable Electricity Output, and Ecological Footprints: Do Financial Globalization Facilitate Renewable Energy Transition and Environmental Welfare in Bangladesh?

2021 ◽  
Author(s):  
Muntasir Murshed ◽  
Mohamed Elheddad ◽  
Rizwan Ahmed ◽  
Mohga Bassim ◽  
Ei Thuzar Than
Keyword(s):  
Renewable Energy ◽  
Environmental Sustainability ◽  
Electricity Generation ◽  
Energy Transition ◽  
Well Being ◽  
Financial Globalization ◽  
Renewable Electricity ◽  
Fdi Inflows ◽  
Ecological Footprints ◽  
Renewable Electricity Generation

AbstractPhasing out fossil fuel dependency to adopt renewable energy technologies is pertinent for both ensuring energy security and for safeguarding the well-being of the environment. However, financial constraints often restrict the developing countries, in particular, from undergoing the renewable energy transition that is necessary for easing the environmental hardships. Against this background, this study makes a novel attempt to evaluate the impacts of FDI inflows on enhancing renewable energy use and attaining environmental sustainability in Bangladesh between 1972 and 2015. Using the autoregressive distributed lags with structural break approach to estimate the short- and long-run elasticities, it is found that FDI inflows enhance the share of renewable electricity output in the total electricity output levels of the country. Besides, FDI inflows are also evidenced to directly hamper environmental quality by boosting the ecological footprints figures of Bangladesh. Hence, it can be said that FDI promotes renewable electricity generation in Bangladesh but transforms the nation into a pollution haven. However, although FDI inflows cannot directly reduce the ecological footprints, a joint ecological footprint mitigation impact of FDI inflows and renewable electricity generation is evidenced. Besides, the findings also verify the authenticity of the Environmental Kuznets Curve hypothesis in Bangladesh’s context. Therefore, economic growth can be referred to as being both the cause and the panacea to the environmental problems faced by Bangladesh. These results, in a nutshell, calls for effective measures to be undertaken for attracting the relatively cleaner FDI in Bangladesh whereby the objectives of renewable energy transition and environmental sustainability can be achieved in tandem. In line with these findings, several appropriate financial globalization policies are recommended.

scholarly journals The Effect of Renewable Energy Development, Market Regulation, and Technological Innovation on CO2 Emission in BRICS Countries

2021 ◽  
Author(s):  
Shah Abbas ◽  
Peng Gui ◽  
Chen Ai ◽  
Najabat Ali
Keyword(s):  
Renewable Energy ◽  
Environmental Regulation ◽  
Technological Innovation ◽  
Carbon Emissions ◽  
Environmental Sustainability ◽  
Energy Development ◽  
Market Regulation ◽  
Brics Countries ◽  
Renewable Energy Development ◽  
Linear And Nonlinear

Abstract The relationship between energy, environment, and economic growth has been received a lot of attention recently among scientific studies, but environmental sustainability remains a global issue. Renewable energy production, technological advancement, and regulatory policy mechanisms can all help to reduce greenhouse gas emissions and support environmental sustainability. The purpose of this study was to look at the influence of renewable energy development, market regulation, and technological innovation on carbon emissions in the BRICS countries. Renewable energy development is measured by the contribution of renewables to the total primary energy supply. The market regulation represents the measure of environmental regulation policies that the state administrative department uses to manage or limit pollution. Technological innovation is measured by environment-related technologies. To examine the symmetric and asymmetric relationship between study variables, we used a second-generation panel unit root test, linear and nonlinear co-integration tests, and linear and nonlinear ARDL. Using a symmetric approach, we found that renewable energy development, technological innovation, and market-based environmental regulation policies had a considerable positive impact on lowering carbon emissions (CE). Furthermore, the combined effect of market regulation and renewable energy development, as well as market regulation and technology innovation on CE is negative and significant. In the asymmetric specification, we found that positive and negative shocks are not uniform but vary according to ascending and descending movement in the primary variables. In nonlinear specification, the long run effects are higher than the short run. The study suggests renewable energy development, technical innovation, and market-based regulation environmental policies are the main mechanisms to reduce carbon emission in BRICS countries.

scholarly journals Do Diversified Export, Agriculture, and Cleaner Energy Consumption Induce Atmospheric Pollution in Asia? Application of Method of Moments Quantile Regression

2021 ◽  
Vol 9 ◽  
Author(s):  
Mubeen Abdur Rehman ◽  
Zeeshan Fareed ◽  
Sultan Salem ◽  
Asma Kanwal ◽  
Ugur Korkut Pata
Keyword(s):  
Renewable Energy ◽  
Quantile Regression ◽  
Negative Impact ◽  
Ghg Emissions ◽  
Value Added ◽  
Export Diversification ◽  
Export Agriculture ◽  
Sustainable Environment ◽  
Regulatory Quality ◽  
Novel Method

Sustainable development remains unattainable unless we move to reduce the negative impact of economic factors on environmental quality. It is noteworthy to provide new evidence on whether and how the empirical association between export diversification, agricultural value-addition, renewable energy, and regulatory quality with greenhouse gas (GHG) emissions evolved in Asian countries from 1996 to 2014. The study examines the relationships between these variables using current panel data techniques. The econometric procedure includes second-generation cointegration and unit root tests together with a novel Method of Movements Quantile Regression (MMQR). This approach offers an asymmetric relationship between the variables and is very robust to outliers compared to traditional quantile regression. The empirical outcomes show that export diversification, renewable energy, and regulatory quality are significantly and negatively associated with GHG emissions. In contrast, agricultural value-added in Asia has become a source of increased GHG emissions. Our findings are also robust with alternate specifications, including fully modified, dynamic and fixed effect regressions. This study will help policymakers for diversifying their export portfolio while ensuring a sustainable environment in Asia.

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