Yeni̇lenebi̇li̇r Enerji̇ Ve Küreselleşme Hi̇ndi̇stan'da Çevresel Sürdürülebi̇li̇rli̇k İçi̇n Önemli̇ Mi̇? Vecm Ve Zaman Frekans'tan Bi̇r Kanit

Abstract

This study aims to analyze the dynamic effect of renewable energy use and globalization on the environmental sustainability in India by utilizing annual time series data spanning the period 1990-2018. After identifying the series order of stationarity by utilizing ADF and PP tests, this study makes use of VECM and WTC models. The reason is that VECM is powerful method in testing the dynamic shocks among the variables. In addition, the VECM is the powerful in variance decomposition and the possibility of observing long run forecast. The WTC model on the other hand allows us to detect the time frequency dependence among the underlying variables. The results disclose that environmental quality reacts negatively to renewables while the globalization and economic growth seem positively impact the degradation of the environment. These outcomes are expected and consistent with relevant theories and some empirical findings. Although India has recently implemented a wide range of energy policies to promote renewables, however huge challenges still persistent and many efforts are required. Therefore, future policy should enhance the development in renewables and create more competitive environment for the investment in the renewable energy market.