The impact of non-clean energy consumption on economic growth: Evidence from symmetric and asymmetric analyses in the US

Wu, Hung-Ming

doi:10.1177/0958305x19865102

Cited by 12 publications

(6 citation statements)

References 43 publications

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“…Similarly, the results are aligned with Le [11] and Le and Van [12], who corroborate that nonrenewable energy consumption produces a positive impact on long-term economic growth. However, this result differs from that of Wu [28], who states that reducing polluting energy reduces economic growth in the long term but not in the short term in the United States.…”

Section: Results Discussioncontrasting

confidence: 96%

“…In contrast, studies that include other determinants of the economic boom such as Baz et al [27], show the existence of asymmetric cointegration between non-renewable energy consumption, agriculture, capital, and economic growth when using a nonlinear autoregressive distributed lag (NARDL) model; they also corroborate unidirectional causality from the use of polluting energy to economic growth. However, Wu [28] affirms that polluting energy has an asymmetric effect on economic growth; however, reducing this energy reduces economic growth in the long term but not in the short term in the United States. For this reason, financial systems must consider environmental aspects in their current operations [29].…”

Section: Literature Reviewmentioning

confidence: 99%

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Financial Development, Clean Energy, and Human Capital: Roadmap towards Sustainable Growth in América Latina

et al. 2021

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The consumption of renewable energy has become a substitute for fossil fuels to mitigate environmental degradation. However, this substitution of energy raises many questions regarding its possible impact on economic growth. In this context, this research aims to examine the long-term relationship between economic growth and financial development, non-renewable energy, renewable energy, and human capital in 16 Latin American countries. Panel data techniques during the period 1988–2018 and statistical information compiled by the World Bank and Penn Word Table databases were used. Second-generation econometric techniques (cross-sectionally augmented Dickey–Fuller (CADF) and cross-sectionally augmented IPS (CIPS) were used in the work methodology, which allow the presence of cross-sectional dependence between sections to be controlled. The main results indicate that there is a long-term equilibrium relationship between financial development, non-renewable energy consumption, renewable energy consumption, human capital, and economic growth. The results show that the consumption of renewable energy does not compromise economic growth; the 1% increase in renewable energy consumption is related to the 1% increase in economic growth. The policy implications suggest some measures to ensure economic growth considering the role of green energy and human capital.

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Section: Results Discussioncontrasting

confidence: 96%

Section: Literature Reviewmentioning

confidence: 99%

Financial Development, Clean Energy, and Human Capital: Roadmap towards Sustainable Growth in América Latina

et al. 2021

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“…Cetin and Bakirtas 15 has confirmed a positive association between financial development and carbon emission, energy consumption and carbon emission. Wu 16 confirmed asymmetric effect of non-clean energy on economic growth. Zhang et al 17 use sectoral based analysis to explore the link between energy consumption and output.…”

Section: Introductionmentioning

confidence: 81%

Role of high technology exports for energy efficiency: Empirical evidence in the context of Gulf Cooperation Council countries

Waheed

Sarwar

Mighri

2020

Energy & Environment

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This article explores the impacts of high technology exports on energy consumption, energy intensity, and carbon intensity for a panel of six GCC economies covering a period of 1990 to 2017. For detailed empirical analysis, we employ panel techniques to explore the linkages between high technology exports and energy efficiency in GCC countries. The empirical results demonstrate that high technology exports help to reduce overall energy demand with −0.154% and energy intensity with −0.254% in GCC countries. Notably, we observe that effects on technology exports on carbon intensity are significantly lower in magnitude with −0.010%. Notably, the long empirics are in consistent with achieving the Sustainable Development Goals (SDG's) of GCC countries (cleaner and affordable energy, environmental awareness, climate change action, etc.). The findings suggest that new and innovative energy conservation policies should be introduced to promote energy efficient equipment’s and technologies for cleaner and greener growth.

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“…Attiaoui et al (2017) found non-renewable energy increases carbon emission, while renewable energy reduces it for Africa. As energy is important for economic growth (Kwakwa, 2012; Paramati et al , 2017; Aydın and Esen, 2017; Esen and Bayrak, 2017; Wu, 2020), recent studies have paid attention to the effect of renewable energy consumption on economic growth (Dees and Vidican, 2018; Marinaș et al , 2018; Attiaoui et al , 2017) and have reported that renewable energy increases economic growth, while in rare cases, works such as Silva et al (2012) found the increasing share of renewable energy reduces GDP per capita.…”

Section: Literature Reviewmentioning

confidence: 99%

What determines renewable energy consumption? Startling evidence from Ghana

Kwakwa

2020

IJESM

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Purpose Owing to the adverse effect of carbon dioxide emission, there have been calls for economies to rely on (cleaner) renewable energy. Although empirical studies on the subject matter abound the conflicting outcome, the less attention paid to combustible renewable and waste, and the little empirical evidence of the effect of financial development and industrialization on renewable energy consumption necessitate further studies. This study aims to examine the drivers of renewable energy consumption for Ghana whose share of renewable energy consumption in the total energy consumption has been reducing over the past decade, with fossil fuel consumption remaining high. Design/methodology/approach Based on the demand theory and empirical studies, the paper models total renewable energy consumption and combustible renewables and waste as a function of income, price, financial development and industrialization. Regression and variance decomposition techniques were used to analyze the data. Findings Ghana’s renewable energy consumption is positively influenced by industrialization, but negatively influenced by price, income and financial development in the long run, while in the short run, industrialization and financial development affect renewable energy consumption. Research limitations/implications The findings imply that the transition to cleaner energy is not a matter of income level alone. Future research should investigate the drivers of other renewable energy consumption and the possible challenges to green finance in Ghana’s financial sector. Originality/value The effect of financial development and industrialization on renewable energy consumption is examined. Previous econometric analyses have also focused on total renewable energy, but this study adds combustible renewable and waste to the analysis.

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The impact of non-clean energy consumption on economic growth: Evidence from symmetric and asymmetric analyses in the US

Cited by 12 publications

References 43 publications

Financial Development, Clean Energy, and Human Capital: Roadmap towards Sustainable Growth in América Latina

Financial Development, Clean Energy, and Human Capital: Roadmap towards Sustainable Growth in América Latina

Role of high technology exports for energy efficiency: Empirical evidence in the context of Gulf Cooperation Council countries

What determines renewable energy consumption? Startling evidence from Ghana

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