THE JOURNAL OF ENERGY AND DEVELOPMENT (original) (raw)
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This study investigated the causal relationship between renewable energy production, CO2 emission and economic growth across 91 countries. The Toda–Yamamoto–Dolado–Lütkepohl (TYDL) approach was implemented. The countries are categorized into three groups namely, high, medium and low income countries. The results indicated that an increase in renewable energy has different impact on economic growth and it is based on the characteristic of each country. Renewable energy production has lower impact on economic growth for low income countries while the impact is more significant for both middle and high income countries. At the same time, the increase of renewable energy production contributed to the reduction of CO2 emission only in high income countries. For both low and middle income countries, the increase of renewable energy only marginally led to decrease in CO2 emissions. Low and middle income countries need to develop and enhance their renewable energy projects in order to achieve economic growth as well as to achieve environmental goals. This can be done by investing more into green technologies, developing the technological capabilities as well as developing energy programs that are less costly, more efficient and innovation-friendly.
International Journal of Accounting and Economics Studies, 2016
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.
Recently a great number of empirical research studies have been conducted on the relationship between certain indicators of environmental degradation and income. The EKC (Environmental Kuznets Curve) hypothesis has been tested for various types of environmental degradation. The EKC hypothesis states that the relationship between environmental degradation and income per capita takes the form of an inverted U shape. In this paper the EKC hypothesis was investigated with regards to the relationship between carbon emissions, income and energy consumption in 16 EU (European Union) countries. We conducted panel data analysis for the period of 1990e2008 by fixing the multicollinearity problem between the explanatory variables using their centered values. The main contribution of this paper is that the EKC hypothesis has been investigated by separating final energy consumption into renewable and fossil fuel energy consumption. Unfortunately, the inverted U-shape relationship (EKC) does not hold for carbon emissions in the 16 EU countries. The other important finding is that renewable energy consumption contributes around 1/2 less per unit of energy consumed than fossil energy consumption in terms of GHG (greenhouse gas) emissions in EU countries. This implies that a shift in energy consumption mix towards alternative renewable energy technologies might decrease the GHG emissions.
Anemon Muş Alparslan Üniversitesi Sosyal Bilimler Dergisi, 2021
Environmental problems are becoming more visible and this detrimental situation, negatively affecting the national economies. Therefore, the economic effects and costs of environmental problems have become an important research topic in the field of economics. In the literature, carbon dioxide (CO2) emission is generally used as an environmental pollution indicator. It is thought that renewable energy investments and innovative approaches to the environment can overcome environmental problems in the long run. In this study, the effect of environmental innovations (ETI), renewable energy (REC) and growth (GDP) on CO2 emission examined for 8 countries, listed according to the IMF's classification in the G-20 country group between 1993 and 2018. Durbin-H cointegration and FMOLS tests are used in the analysis, considering the cross-sectional dependency and heterogeneity. According to the analysis results, there is a long-term relationship between the variables. The effects of the variables considered on CO2 emission differ by country, the change in REC and GDP for the panel generally reduces CO2 emission, while the increase in ETI increases CO2 emission.
International Journal of Energy Economics and Policy, 2020
Most countries consume more non-renewable energy to generate economic activities. Hence, economic growth plays a vital role in contributing to higher CO 2 emissions. Therefore, this type of energy has reduced and replaced by renewable energy. Renewable energy is said not to be detrimental to the environment. Consequently, it is imperative to examine the effects of renewable energy consumption and economic growth on CO 2 emissions in selected countries by per capita income. Using a sample of high-income, upper-middle-income, and lower middle-income, and low-income countries for the period of 1990-2017, and the estimation method of the panel ARDL, the main results show that in the long run, overall renewable energy consumption can reduce CO 2 emissions. However, economic growth and population growth can result in higher CO 2 emissions in the long term. In the short run, the results show that higher overall economic growth can contribute to higher CO 2 emissions. Contrarily, higher population growth, and renewable energy consumption can help reduce CO 2 emissions in the short run.
Energies
This study explores the impact of clean energy and non-renewable energy consumption on CO2 emissions and economic growth within two phases (formative and expansion) of renewable energy diffusion for three selected countries (France, Spain, and Sweden). The vector autoregression (VAR) model is estimated on the basis of annual data disaggregated into quarterly data. The Granger causality results reveal distinctive differences in the causality patterns across countries and two phases of renewables diffusion. Clean energy consumption contributes to a decline of emissions more clearly in the expansion phase in France and Spain. However, this effect seems to be counteracted by the increases in emissions due to economic growth and non-renewable energy consumption. Therefore, clean energy consumption has not yet led to a decoupling of economic growth from emissions in France and Spain; in contrast, the findings for Sweden evidence such a decoupling due to the neutrality between economic gro...
Energy Consumption, Economic Growth and Greenhouse Gas Emissions in the European Union Countries
Journal of Business Economics and Management, 2017
This paper investigates the relationship between economic growth, greenhouse gas emissions and other factors based on the panel data of 22 countries of the EU in the period 1995–2014. The fixed effect panel model was used as a framework for the analysis. The novel contribution of this paper is that the factors of economic growth, energy consumption, energy taxes as well as R&D were tested in one expanded EKC model, including the data of three Baltic States. The regression coefficients referring to GDP, Energy consumption have a positive sign, while R&D and Energy taxes have a negative sign. The empirical analysis combines two steps of evaluation of panel models of different groups of countries. The results imply that the analysed factors (energy consumption, energy taxes as well as R&D) can be applied to adjust the EKC trend in the region and might be useful for the climate change policy adjustment.
On the relationship between energy consumption, CO 2 emissions and economic growth in Europe
Energy, 2010
This study examines the causal relationship between carbon dioxide emissions, energy consumption, and economic growth by using autoregressive distributed lag (ARDL) bounds testing approach of cointegration for nineteen European countries. The bounds F-test for cointegration test yields evidence of a long-run relationship between carbon emissions per capita, energy consumption per capita, real gross domestic product (GDP) per capita and the square of per capita real GDP only for Denmark, Germany, Greece, Iceland, Italy, Portugal and Switzerland. The cumulative sum and cumulative sum of squares tests also show that the estimated parameters are stable for the sample period.
Renewable energy consumption, environmental degradation and economic growth: the greener the richer?
Ecological Indicators, 2022
Climate change presents the greatest challenge facing all countries of the world in the new millennium. Among others, objective 13 of the Sustainable Development Goals (SDGs) aims at adopting urgent measures to contrast climate change and its consequences. Part of the decline in the global growth of emissions has been the increase in using renewable energies. In this context, the relationship among GDP, CO2 emissions, and renewable energy use has been investigated in this study, starting from a systematic review that has noticed the presence of three clusters focused on: CO2 emissions, GDP, and energy consumption. Despite the current level of interest in examining the relationship among these variables, there have been few empirical studies. To fill this knowledge gap, this paper has been focused on the Scandinavian countries, where the use of renewable energies has steadily increased, developing novel panel analysis estimates. Using a dataset of these five economies over a 1990–2018 time period, several panel data tests have been carried out, in order to robustly assess the causality issue among renewable energies, CO2 emissions, and GDP. The results of the empirical analysis imply that renewable energy consumption is a useful policy instrument to reduce CO2 emissions without adversely affecting GDP growth. The main implications have been that the decrease of CO2 emissions, by increasing renewable energy use, can guarantee high levels of energy efficiency and economic growth. These empirical findings help design innovative energy policy roadmaps and accelerate the ecological transition through the promotion of renewable energy and the reduction of GHG emissions.
SSRN Electronic Journal, 2014
The increased concerns about climate change have made renewable energy sources an important topic of research. Several scholars have applied different methodologies to examine the relationships between energy consumption and economic growth of individual and groups of countries and to analyze the environmental effects of energy policies. Previous studies have analyzed carbon emission savings, using renewable energy usage as an individual source or in combination with traditional sources of energy (e.g., hybrid plants) in connection with lifecycle analysis methods. It is shown that after a certain period, economic growth leads to the promotion of environmental quality. However, econometric modelling critiques have opposed the results of these studies. One reason is that the effectiveness of governance-related parameters has previously been neglected. In this research, we analyze the impact of renewable energy development on carbon emission reduction. We estimate a model to evaluate the effectiveness of renewable energy development, technological innovation, and market regulations in carbon emission reduction. The empirical results are based on a panel data estimation using the EU-15 countries data observed from 1995 to 2010. The elasticities of CO 2 emissions are estimated, in order to evaluate the effectiveness of each parameter. The findings show that the effects of a negative climate change could be mitigated by governance-related parameters instead of economic development.