A dynamic relationship between renewable energy consumption, nonrenewable energy consumption, economic growth, and carbon dioxide emissions: Evidence from Asian emerging economies

Ali A., Radulescu M., Balsalobre Lorente D.

Energy and Environment, vol.34, no.8, pp.3529-3552, 2023 (SSCI, Scopus) identifier

  • Nəşrin Növü: Article / Review
  • Cild: 34 Say: 8
  • Nəşr tarixi: 2023
  • Doi nömrəsi: 10.1177/0958305x231151684
  • jurnalın adı: Energy and Environment
  • Jurnalın baxıldığı indekslər: Social Sciences Citation Index (SSCI), Scopus, PASCAL, Aerospace Database, Communication Abstracts, Compendex, Environment Index, Geobase, Greenfile, INSPEC, Metadex, Pollution Abstracts, Civil Engineering Abstracts
  • Səhifə sayı: pp.3529-3552
  • Açar sözlər: Asian emerging countries, carbon emission, economic growth, nonrenewable energy consumption, Renewable energy consumption
  • Açıq Arxiv Kolleksiyası: Məqalə, Icmal
  • Adres: Yox

Qısa məlumat

This study aims to examine the linkages between renewable energy consumption (REC), nonrenewable energy consumption (NREC), carbon dioxide (CO2) emissions, and economic growth in emerging Asian countries during the period 1975–2020 using a panel augmented mean group (AMG) estimation technique. The results of the long-run coefficient elasticity show that REC, NREC, employed labor force, and capital formation contribute significantly to long-run economic growth. The research analysis also found that NREC significantly increases long-term carbon emissions while REC significantly reduces long-term carbon emissions. Moreover, gross domestic product (GDP) and GDP3 have a significant positive impact on environmental degradation while GDP2 has a significant adverse impact on environmental pollution, thus validating the N-shaped Environmental Kuznets Curve (EKC) hypothesis in selected emerging Asian economies. The country-wise AMG strategy points out that India and Bangladesh have no EKC hypothesis, China and Singapore have an inverted U-shaped EKC hypothesis and Japan and South Korea have an N-shaped EKC hypothesis. Empirical evidence from Dumitrescu and Hurlin's causality test shows a two-way causality between REC and economic growth, supporting the feedback hypothesis. Strategically, this study suggests that more renewable energy is a viable strategy to address energy security and reduce carbon emissions to protect the environment and boost future economic growth in selected emerging Asian countries.