Modelling the asymmetric effects of renewable and nonrenewable energy consumption and financial development on CO2 emissions in India: Empirical findings from the NARDL and Wavelet Coherence Approach

Subhan M., İRFAN M., Ahmad G., Alam W., Zameer M. N.

Environmental Science and Pollution Research, vol.30, no.34, pp.82264-82285, 2023 (SCI-Expanded, Scopus) identifier identifier

  • Nəşrin Növü: Article / Article
  • Cild: 30 Say: 34
  • Nəşr tarixi: 2023
  • Doi nömrəsi: 10.1007/s11356-023-28060-4
  • jurnalın adı: Environmental Science and Pollution Research
  • Jurnalın baxıldığı indekslər: Science Citation Index Expanded (SCI-EXPANDED), Scopus, IBZ Online, ABI/INFORM, Aerospace Database, Agricultural & Environmental Science Database, Aqualine, Aquatic Science & Fisheries Abstracts (ASFA), BIOSIS, CAB Abstracts, EMBASE, Environment Index, Geobase, MEDLINE, Pollution Abstracts, Veterinary Science Database, Civil Engineering Abstracts
  • Səhifə sayı: pp.82264-82285
  • Açar sözlər: CO2 emissions, Financial development, India, NARDL, Renewable and non-renewable energy, Wavelet coherence
  • Açıq Arxiv Kolleksiyası: Məqalə
  • Adres: Bəli

Qısa məlumat

A major challenge for humans in the twenty-first century is devising a way to minimize environmental pollution while fostering economic growth that will not deplete the planet's resources. Despite increased awareness of climate change and efforts to combat it, the amount of pollution emissions on the Earth continues to drop significantly. This study employs cutting-edge econometric methods to examine the long- and short-term asymmetric and causal impacts of renewable and non-renewable energy consumption and financial development on CO2 emissions in India at both aggregate and disaggregated levels. Thus, this work fills a significant gap in research. A time series from 1965 to 2020 was used for this study. Wavelet coherence was employed to investigate causal effects among the variables, while the NARDL model addressed long-run and short-run asymmetry effects. Our findings indicate that (i) REC, NREC, FD, and CO2 emissions are all interconnected in the long run, (ii) NREC and FD significantly trigger CO2 emissions in India in the long run, and (iii) the results of a wavelet coherence-based causality test support the long-term estimates of this study.