scholarly journals Exploring the Effects of Economic Complexity and the Transition to a Clean Energy Pattern on Ecological Footprint From the Indian Perspective

2022 ◽  
Vol 9 ◽  
Author(s):  
Xiaowen Wan ◽  
Atif Jahanger ◽  
Muhammad Usman ◽  
Magdalena Radulescu ◽  
Daniel Balsalobre-Lorente ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Environmental Degradation ◽  
Ecological Footprint ◽  
Dominant Role ◽  
Clean Energy ◽  
Pollution Level ◽  
Renewable Energy Consumption ◽  
Economic Complexity ◽  
Long Run

The study explores the association between economic complexity, globalization, renewable and non-renewable energy consumption on the ecological footprint in the case of India from 1990–2018. The autoregressive distributed lag (ARDL) is applied to measure the long-run elasticity, while the vector error correction model (VECM) is applied to classify the causal path. The empirical findings demonstrate that economic complexity, globalization process, and renewable energy consumption play a dominant role in minimizing environmental degradation. In contrast, economic growth and non-renewable energy consumption are more responsible for increasing the pollution level in both the short and long run. Furthermore, the VECM outcomes disclose that there is long-run causality between ecological footprint and economic complexity. Moreover, the empirical outcomes are robust to various robustness checks performed for analysis to the consistency of our main results. The Indian government/policymakers should encourage a more environmentally friendly production process and eco-friendly technologies in exports to minimize environmental degradation.

scholarly journals Nexus between Economic Policy Uncertainty and Renewable Energy Consumption in BRIC Nations: The Mediating Role of Foreign Direct Investment and Financial Development

Energies ◽  
2021 ◽  
Vol 14 (15) ◽  
pp. 4687
Author(s):  
Yongliang Zhang ◽  
Md. Qamruzzaman ◽  
Salma Karim ◽  
Ishrat Jahan
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Direct Investment ◽  
Clean Energy ◽  
Policy Uncertainty ◽  
Energy Integration ◽  
Renewable Energy Consumption ◽  
Long Run

In recent literature, the impact of economic policy uncertainty (EPU) on macro aspects have been investigated, but the aspect of energy, precisely renewable energy still to explore. The motivation of the study is to produce fresh evidence regarding the nexus between EPU and renewable energy consumption (REC) with the mediating role of forcing direct investment (FDI) and financial development (FD) in BRIC nations for the period 1997q1–2018q4. The study applied unit root tests following Ng-Perron and Zivot and Andrews for detecting variable’s stationary properties. The long-run cointegration was evaluated by implementing Bayer, Hanck combined the cointegration test, Bound testing approach, and tBDM test. Both linear and non-linear ARDL were implemented to evaluate long-run and short-run shocks, and directional causality was assessed through a non-granger causality test. Furthermore, the study implemented robustness by implementing fully-modified OLS, dynamic OLS, and canonical cointegrating regression (CCR). Unit root test established the variables are stationary after the first difference; moreover, the Bayer and Hanck cointegration test confirmed the long-run association between EPU, FD, FD, and REC in BRIC nations. Accruing to ARDL estimation, adverse effects running from EPU to REC both in the long run and short run. Furthermore, the positive statistically significant linkage revealed for FDI and FD to REC implies that clean energy integration could be augmented with continual inflows of FDI and development of the financial sector. Model estimation with asymmetric assumption, the study documented asymmetric effects running from EPU, FDI, and FD to renewable energy consumption, especially in the long run. Finally, the directional causality revealed unidirectional causality between REC and EPU, whereas the feedback hypothesis was disclosed for FDI and REC] and FD and REC. Study findings postulated that the role of foreign direct investment and financial development is critically significant because technological advancement and capital investment augment clean energy integration through the application of renewable energy.

scholarly journals Modeling the Relationship Between Economic Complexity and Environmental Degradation: Evidence From Top Seven Economic Complexity Countries

2021 ◽  
Vol 9 ◽  
Author(s):  
José Moleiro Martins ◽  
Tomiwa Sunday Adebayo ◽  
Mário Nuno Mata ◽  
Seun Damola Oladipupo ◽  
Ibrahim Adeshola ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Causal Connection ◽  
Renewable Energy Consumption ◽  
Causality Test ◽  
Continuous Growth ◽  
Economic Complexity ◽  
Long Run

The continuous growth in CO2 emissions of nations around the globe has made achieving the aim of sustainable development extremely challenging. Therefore, the current research assesses the connection between CO2 emissions and economic complexity in the top 7 economic complexity countries while taking into account the role of economic growth, renewable energy consumption, and globalization for the period between 1993 and 2018. The research aims to answer the following questions: 1) What is the association between CO2 and the regressors in the long-run? 2) What are the effects of renewable energy consumption, economic growth, economic complexity, and globalization on CO2 emissions? The research utilized the CS-ARDL, CCEMG and panel causality approaches to investigate these interconnections. The empirical outcomes revealed that economic growth and economic complexity increase CO2 emissions while renewable energy consumption and globalization mitigate CO2 emissions. The outcomes of the causality test revealed a feedback causal connection between economic growth and CO2, while a unidirectional causality was established from economic complexity, globalization and renewable energy consumption to CO2 emissions in the top 7 economic complexity countries.

Agricultural land usage and tourism impact on renewable energy consumption among Coastline Mediterranean Countries

2018 ◽  
Vol 29 (8) ◽  
pp. 1438-1454 ◽  
Author(s):  
Andrew Adewale Alola ◽  
Uju Violet Alola
Keyword(s):  
Renewable Energy ◽  
Energy Consumption ◽  
Carbon Emission ◽  
Agricultural Land ◽  
Tourism Development ◽  
Renewable Energy Consumption ◽  
Land Usage ◽  
Mediterranean Countries ◽  
Long Run ◽  
Short Run

Abstact This empirical study aims to investigate the dynamic response of renewable energy consumption to long-run disequilibrium and short-run impact of tourism development and agricultural land usage for the period of 1995 to 2014 in 16 Coastline Mediterranean Countries. For this reason, a dynamic Autoregressive Distributed Lag approach is employed in a multivariate and two-model framework such that carbon emission and gross domestic product are being controlled for in the models. Significantly, there is evidence of a joint impact of tourism development and agricultural land usage on renewable energy consumption. With a speed of adjustment of 21.6% from short-run disequilibrium to long run, their respective panel elasticities are 0.33 and negative 1.60 in the long run. Significant evidence shows that nine of the Coastline Mediterranean Countries have tourism development as a short-run factor while Slovenia and Cyprus exhibit a short-run common factor. Also, Granger causality evidences from carbon emission, gross domestic product and tourism development to renewable energy are all with feedbacks. However, Granger causality from agricultural land usage to renewable energy is without feedback. In the region, effective policy implementations through the collaborative effort of stakeholders will ensure a sustainable renewable energy development amidst agricultural and tourism activities.

A Step Towards Environmental Mitigation: How Do Economic Complexity And Natural Resources Matter? Focusing On Different Institutional Quality Level Countries

2021 ◽  
Author(s):  
Parisa Esmaeili ◽  
Meysam Rafei ◽  
Daniel Balsalobre- Lorente
Keyword(s):  
Natural Resources ◽  
Environmental Quality ◽  
Ecological Footprint ◽  
Positive Impact ◽  
Institutional Quality ◽  
Clean Energy ◽  
Quality Level ◽  
Renewable Energy Consumption ◽  
Vector Autoregressive ◽  
Economic Complexity

Abstract Changes in the economic structure and human lifestyle lead to environmental pollution, one of today's prime challenges. With this in mind, the main objectives of this study are to evaluate the impacts of economic complexity, natural resources, renewable energy consumption, and foreign direct investment on the ecological footprint in weak, medium, and high levels of institutional quality countries. This study is probably one of the first studies to examine the effect of the economic complexity on ecological footprint and classify countries based on their institutional quality levels. Furthermore, the interaction of economic complexity and natural resources is considered a new variable. For this purpose, the panel vector autoregressive model is used. The results revealed that economic complexity in all countries has a positive impact on ecological footprint, and also it has the greatest impact on ecological footprint among the considered variables. Conversely, the interaction of economic complexity and natural resources contributes to environmental quality. Notably, the impacts of study variables on ecological footprint are more robust in a medium level of institutional quality countries. According to the study's outcomes, the main recommendation is the R&D activities improvement to develop environmentally friendly technologies and clean energy infrastructure to improve environmental quality.

scholarly journals CO2 Emissions, Energy Consumption, and Economic Growth: New Evidence in the ASEAN Countries

2019 ◽  
Vol 12 (3) ◽  
pp. 145 ◽  
Author(s):  
Vo ◽  
Vo ◽  
Le
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Granger Causality ◽  
Co2 Emissions ◽  
Causal Effect ◽  
The Philippines ◽  
Policy Implications ◽  
Renewable Energy Consumption ◽  
Long Run

The members of the Association of Southeast Asian Nations (ASEAN) have made several attempts to adopt renewable energy targets given the economic, energy-related, environmental challenges faced by the governments, policy makers, and stakeholders. However, previous studies have focused limited attention on the role of renewable energy when testing the dynamic link between CO2 emissions, energy consumption and renewable energy consumption. As such, this study is conducted to test a common hypothesis regarding a long-run environmental Kuznets curve (EKC). The paper also investigates the causal link between carbon dioxide (CO2) emissions, energy consumption, renewable energy, population growth, and economic growth for countries in the region. Using various time-series econometrics approaches, our analysis covers five ASEAN members (including Indonesia, Myanmar, Malaysia, the Philippines, and Thailand) for the 1971–2014 period where required data are available. Our results reveal no long-run relationship among the variables of interest in the Philippines and Thailand, but a relationship does exist in Indonesia, Myanmar, and Malaysia. The EKC hypothesis is observed in Myanmar but not in Indonesia and Malaysia. Also, Granger causality among these important variables varies considerably across the selected countries. No Granger causality among carbon emissions, energy consumption, and renewable energy consumption is reported in Malaysia, the Philippines, and Thailand. Indonesia experiences a unidirectional causal effect from economic growth to renewable energy consumption in both short and long run and from economic growth to CO2 emissions and energy consumption. Interestingly, only Myanmar has a unidirectional effect from GDP growth, energy consumption, and population to the adoption of renewable energy. Policy implications have emerged based on the findings achieved from this study for each country in the ASEAN region.

scholarly journals Do High Oil Prices Obstruct the Transition to Renewable Energy Consumption?

2020 ◽  
Vol 12 (11) ◽  
pp. 4689 ◽  
Author(s):  
Shahriyar Mukhtarov ◽  
Jeyhun I. Mikayilov ◽  
Sugra Humbatova ◽  
Vugar Muradov
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Negative Impact ◽  
Oil Prices ◽  
Oil Price ◽  
Renewable Energy Consumption ◽  
Long Run ◽  
Carbon Dioxide Co2 ◽  
The Impact

The study analyzes the impact of economic growth, carbon dioxide (CO2) emissions, and oil price on renewable energy consumption in Azerbaijan for the data spanning from 1992 to 2015, utilizing structural time series modeling approach. Estimation results reveal that there is a long-run positive and statistically significant effect of economic growth on renewable energy consumption and a negative impact of oil price in the case of Azerbaijan, for the studied period. The negative impact of oil price on renewable energy consumption can be seen as an indication of comfort brought by the environment of higher oil prices, which delays the transition from conventional energy sources to renewable energy consumption for the studied country case. Also, we find that the effect of CO2 on renewable energy consumption is negative but statistically insignificant. The results of this article might be beneficial for policymakers and support the current literature for further research for oil-rich developing countries.

Sign in / Sign up

Export Citation Format

Share Document