Energy Innovations-GHG Emissions Nexus: Fresh Empirical Evidence from OECD Countries

Álvarez-Herránz, Agustín; Balsalobre, Daniel; Cantos, José María Cantos; Shahbaz, Muhammad

doi:10.1016/j.enpol.2016.11.030

Cited by 326 publications

(139 citation statements)

References 75 publications

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“…For instance, studies (such as Bekun et al 2019a, b;Saint Akadiri et al 2019) supported the growth hypothesis for the South Africa economy consistent with Wang et al (2018), Sarkodie and Adams (2018), and Ulucak and Bilgili (2018). Other previous studies hold an inverse view claiming that economic expansion is the reason for the demand of coal usage (see Álvarez-Herránz et al 2017;Govindaraju and Tang 2013;Jinke et al 2008;Wolde-Rufael 2010). Conclusively, this study went one more step further to include total natural resources rent as an additional variable to the model framework.…”

Section: Introductionsupporting

confidence: 62%

Modeling the nexus between coal consumption, FDI inflow and economic expansion: does industrialization matter in South Africa?

Joshua

Bekun

Adedoyin

2020

Environ Sci Pollut Res

102

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This study examines the role of industrialization in the energy-growth-FDI nexus for the case of South Africa using data over the period 1970 to 2018. The empirical exercise was conducted using Pesaran Autoregressive Distributed Lag (ARDL) bounds testing approach. To accomplish our study objective, we analyze stationarity properties of the series using the unit root test after which we applied Bayer-Hanck (B-H) combined technique to cointegration to assess whether a long-run relationship exists among the series. Empirical results show that a 1% change in FDI account for 0.002% and 0.013% increase in economic expansion in the short-and long-run respectively. Also, a 1% increase in coal consumption influence GDP negatively by 0.083% and 0.207% in the short and long run respectively. Furthermore, a 1% increase in total natural resource rent positively affects GDP by 0.02% and 0.05% respectively in the short and long run. Industrialization, on the other hand, demonstrates a positive and significant impact on the economic growth process both in the short and long run. Industrialization contributes 0.506% and 1.274% to economic expansion both in the short and long run respectively. The causality tests suggest that a one-way causal link running from FDI to industrialization and from industrialization to coal consumption exists. Finally, FDI inflow drives total natural resource rents in South Africa. This study also gives reliable growth and energy policy proposals to policymakers applicable to countries around the globe.

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Section: Introductionsupporting

confidence: 62%

Modeling the nexus between coal consumption, FDI inflow and economic expansion: does industrialization matter in South Africa?

Joshua

Bekun

Adedoyin

2020

Environ Sci Pollut Res

102

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“…On the other hand, an N-shaped EKC predicts an increase in the income-environmental pollution relationship over the long term (Shafik and Bandyopadhyay, 1992;Selden and Song, 1994;Grossman and Krueger, 1995;Moomaw and Unruh, 1997;Torras and Boyce, 1998 (Johansson and Kriström, 2007;Lorente and Álvarez-Herránz, 2016;Álvarez -Herránz et al, 2017).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Reforms and institutional changes are necessary to reach this objective (Unruh and Moomaw, 1998;Stagl, 1999). This implies that in selected developed countries with lower growth rates but high income, where pollution reduction processes depend mainly on innovation in low-carbon technologies, technological changes could offset scale effect and delay technical obsolescence (Aghion et al, 2014, Álvarez-Herránz et al, 2017 Action Plan (NREAP) set a target of 17% for the total share of renewable energy of final total energy consumption. To achieve this target, renewable electricity goals were set to 26% in the electricity sector, 17% in the heating/cooling sector and 10% in the transport sector by 2020.…”

Section: Figure-4 Inflection Pointmentioning

confidence: 99%

“…To demonstrate the long-term appearance of technical obsolescence, it must be accepted that once an economy achieves a high income, society will demand a high-quality environment, which will require efforts in the form of environmental regulations to promote technical effects through more efficient and less polluting energy production actions (Bruvoll et al, 2003;Turner and Hanley, 2011). Álvarez-Herránz et al (2017) demonstrate the positive effect of energy innovation policies in lowering CO2 emissions and how these measures help delay technical obsolescence. Additionally, other studies incorporate technological innovation in the nexus of clean energy, carbon emissions, and economic growth (Lee, 2013;Tang and Tan, 2013;Fei et al, 2014).…”

Section: Literature Reviewmentioning

confidence: 99%

“…Carvalho et al, 2013;. Consequently, there is agreement regarding the need to encourage global energy measures that consider increasing the share of renewable sources in energy mix and the use of energy innovation to control environmental degradation (Arrow et al, 1996;Torras and Boyce, 1998;Andreoni and Levinson, 2001;Lorente and Álvarez-Herránz, 2016;Álvarez-Herránz et al, 2017).…”

Section: Introductionmentioning

confidence: 99%

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This study explores the relationship between economic growth and CO2 emissions in the so-called European Union 5 (EU-5) countries (Germany, France, Italy, Spain, and the United Kingdom) for the 1985-2016 period. In doing so, we employ a carbon emission function to investigate the environmental Kuznets curve phenomenon, which describes a relationship between economic growth and environmental degradation. The empirical results confirm the existence of an N-shaped relationship between economic growth and CO2 emissions in the EU-5 countries. We incorporate additional variables such as renewable electricity consumption, trade openness, natural resource abundance, and energy innovation to augment the carbon emission function. Renewable electricity consumption, natural resources, and energy innovation improve environmental quality, while trade openness and the interaction between economic growth and renewable electricity consumption exert a positive impact on CO2 emissions. This study is novel in that it presents an interaction between economic growth and renewable electricity consumption. We also confirm the need for renewable energy regulations related to increasing renewable sources and promoting energy innovation to reduce the negative effects of energy and fossil energy resources on environmental degradation.

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Modeling the dynamic linkage between financial development, energy innovation, and environmental quality: Does globalization matter?

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In the modern era of the wave of globalization, financial development is leading toward a higher rate of economic expansion and promoting energy innovation around the globe. Nevertheless, environmental impact of financial development has preoccupied government officials to circumvent adverse impact on environmental quality. Thus, this paper examines the nexus between financial development, economic growth, energy innovation, and environmental pollution for the period of 1990–2017 for the panel of Organization for Economic Cooperation and Development (OECD) countries. To obtain robust and unbiased results, this study utilizes Pooled Mean Group Autoregressive Distributed Lag (PMG/ARDL) estimator that counters the issue of heterogeneity and cross‐sectional dependence. Empirical evidence suggests that financial development promotes energy innovation and improves environmental quality. Globalization also has a long‐term relationship with energy innovation and reduces greenhouse gas (GHG) emissions. Moreover, findings validate the environmental Kuznets curve for OECD countries in the significance of financial development, globalization, and energy innovation.

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Energy Innovations-GHG Emissions Nexus: Fresh Empirical Evidence from OECD Countries

Cited by 326 publications

References 75 publications

Modeling the nexus between coal consumption, FDI inflow and economic expansion: does industrialization matter in South Africa?

Modeling the nexus between coal consumption, FDI inflow and economic expansion: does industrialization matter in South Africa?

How economic growth, renewable electricity and natural resources contribute to CO2 emissions?

Modeling the dynamic linkage between financial development, energy innovation, and environmental quality: Does globalization matter?

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