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 The effectiveness of Vietnamese policies response to climate change through ARDL analysis

2021 ◽  
Vol 11 (2) ◽  
pp. 42-52
Author(s):  
Le Hoang Nghiem ◽  
Dang Bac Hai ◽  
Tran Thi Diem Nga ◽  
Su Thi Oanh Hoa
Keyword(s):  
Climate Change ◽  
Economic Growth ◽  
Foreign Direct Investment ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Direct Investment ◽  
Economic Factor ◽  
Renewable Energy Consumption ◽  
Long Run

Being a highly vulnerable country due to climate change, Vietnam has issued various climate policies while trying to keep the pace of economic growth. The study evaluates the effectiveness of these policies by examining the effect of economic and energy factors in the efforts of controlling CO2 emissions. Approach by Autoregressive Distributed Lag (ARDL) analysis, the model of a linear regression between CO2 emissions and Gross Domestic Product (GDP), Foreign Direct Investment (FDI) & sources of energy consumption has been developed from 1985 to 2018. The study indicates that the economic factor as Foreign Direct Investment (FDI) is a possible significant element to mitigate the emission. In addition, sources of energy consumption have the important role of controlling CO2 emissions. In the long run, the consumption of non - renewable energy is a positive and significant effect on CO2 emissions while renewable energy is vice versa. These outcomes show the Foreign Direct Investment (FDI) and renewable energy consumption factors lead to the decrease of CO2 emissions in the long run for Vietnam, which implies the co-exist of economic growth and decarbonization.

scholarly journals Comparative analysis of energy consumption, CO2 emissions and economic growth: evidence for OECD selected countries

2016 ◽  
Vol 4 (2) ◽  
pp. 114
Author(s):  
Samia Gmidene ◽  
Saida Zaidi ◽  
Sonia Zouari Ghorbel
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Comparative Analysis ◽  
Causal Relationship ◽  
Co2 Emissions ◽  
Nuclear Energy ◽  
Renewable Energy Consumption ◽  
Long Run ◽  
Short Run

The main purpose of this study is to investigate the causal relationship among renewable energy, nuclear energy consumption, economic growth, and CO2 emissions for selected OECD countries over the period 1980 to 2013. All variables are found to be cointgrated.Results of Granger causality show long-run relationship from GDP, renewable energy consumption and nuclear energy consumption to CO2 emissions, from CO2 emissions, GDP, to renewable energy consumption, from emissions, GDP to renewable energy, and from CO2 emissions GDP and nuclear energy consumption.In short run, results show that there exists bidirectional causality between GDP and CO2 emissions, and unidirectional causality running from renewable energy consumption to GDP. Also unidirectional causality running from renewable energy consumption to CO2 emissions without feedback but no causality running from nuclear energy consumption to CO2 emissions was found. This evidence suggests that renewable energy can help to mitigate CO2 emissions, but so far, nuclear energy consumption has not reached a level where it can CO2 emissions.

scholarly journals Green Energy, Economic Growth and Environmental Quality Nexus in Saudi Arabia

2021 ◽  
Vol 13 (3) ◽  
pp. 1264
Author(s):  
Montassar Kahia ◽  
Anis Omri ◽  
Bilel Jarraya
Keyword(s):  
Economic Growth ◽  
Saudi Arabia ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Environmental Quality ◽  
Green Energy ◽  
Policy Implications ◽  
Equation Modeling ◽  
Renewable Energy Consumption

This article extends the previous studies on environmental economics literature by examining a possible relationship between economic growth, green energy, and environmental quality. Specifically, this article investigated the three-way linkage between economic growth, renewable energy, and environmental quality in the case of Saudi Arabia using the simultaneous equation modeling approach over the period of 1990–2016. The following are the main findings obtained: (i) a unidirectional causal impact of economic growth on renewable energy consumption was found, confirming the conservation hypothesis; (ii) bidirectional relationships between economic growth and CO2 emissions and between CO2 emissions and renewable energy consumption were also found; (iii) the failure of renewable energy in Saudi Arabia to close the gap between growing the economy and protecting the environment in Saudi Arabia; (iv) the environmental Kuznets curve (EKC) hypothesis was supported. Policy implications are also discussed.

scholarly journals Does Green Energy Complement Economic Growth for Achieving Environmental Sustainability? Evidence from Saudi Arabia

2020 ◽  
Vol 13 (1) ◽  
pp. 180
Author(s):  
Montassar Kahia ◽  
Anis Omri ◽  
Bilel Jarraya
Keyword(s):  
Economic Growth ◽  
Saudi Arabia ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Environmental Sustainability ◽  
Least Square ◽  
Ekc Hypothesis ◽  
Renewable Energy Consumption ◽  
Ordinary Least Square

This study extends previous environmental sustainability literature by investigating the joint impact of economic growth and renewable energy on reducing CO2 emissions in Saudi Arabia over the period 1990–2016. Using the fully modified ordinary least-square (FMOLS) and dynamic ordinary least-square DOLS estimators, we find that economic growth increases CO2 emissions in all estimated models. Moreover, the validity of the environmental Kuznets curve (EKC) hypothesis is only supported for CO2 emissions from liquid fuel consumption. The invalidity of the EKC hypothesis in the most commonly used models implies that economic growth alone is not sufficient to enhance environmental quality. Renewable energy is found to have a weak influence on reducing the indicators of environmental degradation. We also find that the joint impact of renewable energy consumption and economic growth on the indicators of CO2 emissions is negative and insignificant for all the estimated models, meaning that the level of renewable energy consumption in Saudi Arabia is not sufficient to moderate the negative effect of economic growth on environmental quality. Implications for policy are also discussed.

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.

scholarly journals The Financial Development-Renewable Energy Consumption Nexus in the Case of Azerbaijan

Energies ◽  
2020 ◽  
Vol 13 (23) ◽  
pp. 6265
Author(s):  
Shahriyar Mukhtarov ◽  
Sugra Humbatova ◽  
Natig Gadim-Oglu Hajiyev ◽  
Sannur Aliyev
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Financial Development ◽  
Time Series Data ◽  
Policy Implications ◽  
Small Samples ◽  
Series Data ◽  
Energy Prices ◽  
Renewable Energy Consumption

This article analyzed the relationship between financial development, renewable energy consumption, economic growth, and energy prices in Azerbaijan by employing time series data for the time span of 1993–2015. The autoregressive distributed lagged (ARDL) technique was applied in empirical estimations, because it performs better than all the alternative techniques in small samples, which was the case here in this article. The results of estimation found that there is a positive and statistically significant influence of financial development and economic growth on renewable energy consumption, whereas the prices of energy proxied by CPI have an adverse impact on renewable energy consumption in Azerbaijan. Also, estimation results demonstrated that a 1% rise in financial development, proxied by domestic credit as a percentage of GDP, and economic growth increase renewable energy consumption by 0.16% and 0.60%, respectively. The different financial development impacts on renewable energy consumption and related policy implications were also introduced.

scholarly journals Linking between Renewable Energy, CO2 Emissions, and Economic Growth: Challenges for Candidates and Potential Candidates for the EU Membership

2019 ◽  
Vol 11 (6) ◽  
pp. 1528 ◽  
Author(s):  
Yuriy Bilan ◽  
Dalia Streimikiene ◽  
Tetyana Vasylieva ◽  
Oleksii Lyulyov ◽  
Tetyana Pimonenko ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Panel Cointegration ◽  
Potential Candidate ◽  
Total Energy Consumption ◽  
Renewable Energy Consumption ◽  
Eu Membership ◽  
The Eu

This paper investigates the impact of renewable energy sources (RESs), CO2 emissions, macroeconomics, and the political stability in a country on the Gross Domestic Product (GDP). The authors analyse the dynamics of RESs use, CO2 emissions, and GDP development and also test the following hypotheses: (1) The country’s economic growth is related to the energy consumption, in terms of both human resources and capital; (2) the share of the renewable energy consumption of the total energy consumption has a positive impact on the economic growth; and (3) the share of the renewable energy consumption of the total energy consumption is unrelated to the economic growth. To test the above hypotheses, the authors use the modified Cobb-Douglas production function, which also considers RES production volumes, CO2 emissions, and economic growth. The study employs data between 1995 to 2015 from the candidate and potential candidate countries for the EU membership. The data are drawn from the World Bank and Eurostat. The analyses entail panel unit root tests, Pedroni panel cointegration tests, fully modified OLS (FMOLS), dynamic OLS (DOLS) panel cointegration techniques, and the Vector Error Correction model (VECM). The findings confirm the relationship between RESs, CO2 emissions, and the GDP. For the EU countries, RESs as human resources and capital have an impact on the GDP. Moreover, the results reveal a correction retraction when the economic growth leads to an increase in renewable energy consumption. The investigation also finds that candidate and potential candidate countries for the EU membership should foster renewable energy development. The authors conclude that developing affordable and effective instruments and mechanisms to boost the RES implementation is necessary to decrease the anthropogenic impact on the environment (in particular, decreasing CO2 emissions) without any attendant reduction in the economic growth.

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