Analysis of the Dynamic Relationships among Renewable Energy Consumption, Economic Growth, Financial Development, and Carbon Dioxide Emission in Five Sub-Saharan African Countries

Qudrat‐Ullah, Hassan; Nevo, Chinedu Miracle

doi:10.3390/en15165953

Cited by 9 publications

(2 citation statements)

References 57 publications

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“…The contributions of REC and PCD were negligible in LLD, estimated at 6.15% and 6.80%, respectively, while the innovative shocks of SPV contributed 63.82% to LLD and 13.84% of LLD was contributed by its innovative shock. This portion of the empirical proof resounds with the findings of [51,88,89].…”

Section: Forecast-error Variance Decomposition Resultsmentioning

confidence: 99%

Impact of Financial Development Shocks on Renewable Energy Consumption in Saudi Arabia

Elzaki

2023

Sustainability

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The demand for renewable energy is increasing globally due to concerns about climate change, pollution, and the finite nature of fossil-fuel resources, and renewable energy has been recognized as a significant factor in realizing sustainable development. The government of Saudi Arabia adopted the reduction in fossil-fuel subsidies policy as a financial motivation for supporting both the production and consumption of fossil fuels. Therefore, this study aims to investigate the influence and shocks of Saudi financial development indicators on renewable energy consumption (REC) and to examine the track of causality between financial development indicators and REC. The study covers the annual data period of 1990–2021 and applies the Basic Vector Autoregressive model (VAR), the Granger causality test, forecast-error variance decomposition (FEVD), and the impulse response function (IRF). In the short run, the VAR results indicate a positive and significant impact of stock price volatility and private credit on REC. The results of causality between REC and financial development indicators were conflicting. The Granger causality test shows significant causality running from stock price volatility and private credit to REC. The FEVD results reveal that REC variation is explained by its innovative shocks and has a positive response to shocks in financial development. The IRF results show that REC has a positive response to shock on private credit, liquid liabilities, and stock price volatility. Authorities can encourage investment in renewable energy consumption by providing financial incentives; also, governments can foster national and international partnerships between investors, policymakers, and industry stakeholders. Employing different determinants of financial development indicators and incorporating population factors in the REC function will be highly recommended for forming the renewable energy demand in Saudi Arabia. Conducting a micro-level analysis of specific sectors within renewable energy, such as solar, wind, and others, can provide actionable insights for policymakers.

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Section: Forecast-error Variance Decomposition Resultsmentioning

confidence: 99%

Impact of Financial Development Shocks on Renewable Energy Consumption in Saudi Arabia

Elzaki

2023

Sustainability

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“…These challenges and trade-offs require careful analysis and evaluation of the green energy policies and their impacts on various dimensions of sustainable development. However, most of the existing studies on green energy policies in South Asia have focused on a single or a few aspects of green energy development, such as renewable energy potential [46], renewable energy consumption [47], renewable energy policies [42,48], or energy efficiency improvement [7,15,49,50]. Moreover, most of these studies have used different models and methods that are not comparable or consistent across different scenarios and countries.…”

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confidence: 99%

A Review and Analysis of Green Energy and the Environmental Policies in South Asia

Qudrat-Ullah

2023

Energies

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This paper explores the challenges and opportunities for green energy and environment transition in South Asia, a region that faces the dilemma of meeting its growing energy demand while reducing its greenhouse gas emissions and environmental vulnerability. The region has rich renewable energy sources and potential for energy efficiency improvement, but it also relies heavily on fossil fuels and suffers from various barriers and constraints that hinder its green energy development. The region needs policies that can achieve economic growth, social welfare, and environmental sustainability coherently and effectively. Utilizing the thematic literature review approach, this paper examines the literature on four main topics: (1) the estimation of green energy resources potential and scenarios in South Asia; (2) the comparison of green energy targets and policies in the South Asian Association for Regional Cooperation (SAARC) countries; (3) the evaluation of green energy deployment and performance in different sectors; and (4) the identification of green energy transition challenges and opportunities in South Asia. This paper fills some research gaps in the literature by providing a comprehensive, comparative, holistic, and integrated analysis of green energy and environment policies in South Asia, using various data sources, methods, frameworks, criteria, indicators, scenarios, impacts, trade-offs, drivers, barriers, best practices, lessons learned, and policy recommendations. This paper also develops a conceptual model for the green energy transition in South Asia, which consists of five key variables: green energy potential, green energy policies, green energy deployment, green energy performance, and green energy transition. The main findings and implications of this paper are that South Asia has a huge opportunity to pursue a green energy and environment transition that can address its multiple challenges and aspirations, but this requires overcoming various obstacles and constraints that hinder its progress. This paper suggests some policy options and strategies to enhance the green energy and environment policies in South Asia, such as developing a clear and consistent policy framework, enhancing regional cooperation and collaboration, leveraging information technology and data analytics, emphasizing sustainability and resilience, and engaging with other stakeholders and partners.

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Do financial development, financial stability and renewable energy disturb carbon emissions? Evidence from asia–pacific economic cooperation economics

Hasni,

Dridi,

Ben Jebli

2023

Environ Sci Pollut Res

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Analysis of the Dynamic Relationships among Renewable Energy Consumption, Economic Growth, Financial Development, and Carbon Dioxide Emission in Five Sub-Saharan African Countries

Cited by 9 publications

References 57 publications

Impact of Financial Development Shocks on Renewable Energy Consumption in Saudi Arabia

Impact of Financial Development Shocks on Renewable Energy Consumption in Saudi Arabia

A Review and Analysis of Green Energy and the Environmental Policies in South Asia

Do financial development, financial stability and renewable energy disturb carbon emissions? Evidence from asia–pacific economic cooperation economics

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