Analysis of the factors affecting electricity consumption in DR Congo using fully modified ordinary least square (FMOLS), dynamic ordinary least square (DOLS) and canonical cointegrating regression (CCR) estimation approach

Merlin, Matumona Lubabu; Chen, Yinfei

doi:10.1016/j.energy.2021.121025

Cited by 59 publications

(12 citation statements)

References 42 publications

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“…Merlin & Chen, 2021). On the other hand, the DOLS approach uses parametric techniques to remove issues caused by the explanatory variables' leads and lags (Addis & Cheng, 2023;Merlin & Chen, 2021). Additionally, the DOLS technique also imposes additional requirements that all variables be integrated in the same order and yields accurate estimates.…”

Section: Panel Cointegration Testsmentioning

confidence: 99%

Unlocking the Dynamic Impact of Economic and Non-Economic Factors on Tourism Demand in BRICS Economies

Alam,

Hussain,

Kiran

2024

Preprint

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In recent decades, economic and non-economic factors have significantly shaped tourism demand, affirming attention from researchers and policymakers. This study employs advanced econometrics techniques, including cross-sectional dependency, slope homogeneity, unit root, cointegration and long-run estimation, to explore the impact of economic determinants (world GDP per capita, exchange rate, interest rate, and relative price) and non-economic factors (political stability and climate change) on tourism demand in BRICS economies from 1996 to 2022. Findings indicate that exchange rates, interest rates, political stability, and world GDP per capita positively influence tourism demand, while climate change and relative price negatively impact it. Moreover, bidirectional causality exists between world GDP per capita and tourism demand, and one-way causation is observed for exchange rate, relative price, and political stability. In conclusion, the economic determinants significantly impact tourism demand more than non-economic factors. The study provides policy guidelines for enhancing tourism demand.

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Section: Panel Cointegration Testsmentioning

confidence: 99%

Unlocking the Dynamic Impact of Economic and Non-Economic Factors on Tourism Demand in BRICS Economies

Alam,

Hussain,

Kiran

2024

Preprint

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“…The same is shown in Table 8. FMOLS is chosen as a test as it is asymptotically unbiased and provides robust results along with reliable estimates (Bashier and Siam, 2014;Peng and Wu, 2020;Merlin and Chen, 2021).…”

Section: Diagnostic and Robustness Testsmentioning

confidence: 99%

The impact of private equity investment and renewable energy on environmental degradation: evidence from BRICS countries

Malik

Sharma

2023

IJESM

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Purpose Large-scale industrialization, growth and development have come at the cost of severe environmental degradation, primarily measured in terms of carbon dioxide emissions. Apart from the several measures taken to reduce enviornmental degradation, provision of private capital is a necessity apart from the public capital. There is a debate on impact of carbon dioxide emissions with increase in affluence, technology, population and renewable energy. The purpose of the study is to look into the role of private equity investment on renewable energy and technological patents. Design/methodology/approach The study extends the use of stochastic impact by regression on population, affluence and technology model to include another factor for investments and capital, i.e. private equity along with renewable energy, population, technology and GDP growth on carbon emissions for the BRICS countries. The time period for the study is from 2002 to 2021, and the relationship between the variables has been tested using pooled mean group/autoregressive distributed lag, fully modified ordinary least squares and panel quantile regression. Findings First, the results depict a log-run relationship between the variables across the panel using cointegration. Private equity investments do not have a significant impact on carbon emissions. The study proposes important policy implications. There are two schools of thought on the impact of private equity on carbon emissions. For example, inherently private equity investments come with higher stakes and a shorter holding period because of which their primary focus remains on having higher returns instead of responsible investing. However, as private equity adds up to capital, which leads to an increase in productivity and eventually higher economic growth, this could affect carbon emissions. This study supports the first thought. Additionally, renewable energy also affects carbon emissions positively. The policymakers should look into the role and intent of the private equity investors in green investments and invest in technologies and patents that can lead to energy consumption. Originality/value The paper is the first of its kind, to the best of the authors’ knowledge, to look into the impact of private equity on renewable energy and technological patents.

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“…In Eq. 11, Z t (x ′ t , D ′ t )′, Ω and Λ are long run covariance estimator terms, ŵ12 is a degree of freedom correction term, and μt is the residual term (Merlin & Chen, 2021).…”

Section: Fully Modified Ordinary Least Square (Fmols)mentioning

confidence: 99%

Does industrial eco-innovative development and economic growth affect environmental sustainability? New evidence from BRICS countries

Liu

Leifu

et al. 2022

Front. Environ. Sci.

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This research aims to identify the periodical impact of industrial development, renewable energy, economic growth, and gross capital formation on environmental deterioration in BRICS countries. The analytical procedure is based on the annual data from 1995 to 2020. The selected econometric methods which are used to determine the relationship among exogenous and endogenous variables are panel unit-root tests for stationarity check, Johansen co-integration test for co-integration relationship, and FMOLS and quantile regression for long-run relationship. The empirical research findings confirm a significant positive association of environmental deterioration with industrial development, GDP, and GCF, while a significant negative relationship was observed between CO2 emission and renewable energy. The BRICS group of countries should be more focused on environmentally friendly technological development as they are concerned with economic growth. Renewable energy resources positively impact the environmental quality, so backward resources should be replaced with renewable energy resources to attain double impacts, that is, the reduction of CO2 emission with the reduction of oldfangled resources and increase in the environmental quality with the aggrandizement of renewable energy resources. Based on key findings and implications of the sectorial and whole economic growth of BRICS countries, this research suggests some policy implications for reducing toxic CO2 emissions and enhancing the quality of the environment.

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Analysis of the factors affecting electricity consumption in DR Congo using fully modified ordinary least square (FMOLS), dynamic ordinary least square (DOLS) and canonical cointegrating regression (CCR) estimation approach

Cited by 59 publications

References 42 publications

Unlocking the Dynamic Impact of Economic and Non-Economic Factors on Tourism Demand in BRICS Economies

Unlocking the Dynamic Impact of Economic and Non-Economic Factors on Tourism Demand in BRICS Economies

The impact of private equity investment and renewable energy on environmental degradation: evidence from BRICS countries

Does industrial eco-innovative development and economic growth affect environmental sustainability? New evidence from BRICS countries

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