Assessing the impact of transition from nonrenewable to renewable energy consumption on economic growth-environmental nexus from developing Asian economies

Mohsin, Muhammad; Kamran, Hafiz Waqas; Nawaz, Muhammad Atif; Hussain, Muhammed Sajjad; Dahri, Abdul Samad

doi:10.1016/j.jenvman.2021.111999

Cited by 431 publications

(167 citation statements)

References 61 publications

Supporting

Mentioning

161

Contrasting

Order By: Relevance

“…The model AR(1)-GJR(1,1) gave some surprising insight. The intercept (β0) (β1) and mean stock volatility index coefficient are equal to each relative and close to zero sample market (Mohsin et al 2018b ; Muhammad Mohsin et al 2021b ).…”

Section: Resultsmentioning

confidence: 99%

See 1 more Smart Citation

RETRACTED ARTICLE: COVID-19 and stock exchange return variation: empirical evidences from econometric estimation

Latif

Bashir

et al. 2021

Environ Sci Pollut Res

View full text Add to dashboard Cite

This research looked at the effects of COVID-19 on a number of the world’s most important stock exchanges, as well as the empirical relation between the COVID-19 wave and stock market volatility. In order to plan proper portfolio diversification in international financial markets, researchers must examine COVID-19 anxiety in relation to stock market volatility. The stock market volatility connected with the COVID-19 pandemic was measured using AR(1)-GARCH(1,1). COVID-19 fear, according to our research, is the ultimate driver of public attention and stock market volatility. The findings show that throughout the pandemic, stock market performance and GDP growth both declined significantly due to average increases. Furthermore, a 1% increase in COVID-19 causes a 0.8% and 0.56% decline in stock return and GDP, respectively. The stock market, on the other hand, showed a slight movement in GDP growth. Furthermore, the COVID-19 pandemic reported cases index, death index, and global panic index all influenced public perceptions of purchasing and selling. As a result, rather than investing in stocks, it is recommended that you invest in gold. The research also makes policy recommendations for important stakeholders. We look to examine how stock returns respond dynamically to unanticipated changes in the COVID-19 scenarios, as well as the uncertainty that comes with a pandemic. Using daily data from Canada and the USA, we conclude that a spike in COVID-19 instances has a negative impact on the stock market in general. Furthermore, in both the increase and decline scenarios in Canada, the stock return reactions are asymmetric. The disparity is due to the unfavorable impact of the pandemic’s unpredictability. We also discovered that uncertainty had a negative impact on the US stock market. The magnitude, however, is insignificant.

show abstract

Section: Resultsmentioning

confidence: 99%

“…As a result, investors and portfolio managers can use the efficiency of each industry to help them establish their investment strategy. Several things influence the stock market price (Mohsin et al 2021b ). These events have their individual qualities (Elavarasan et al; Irfan et al 2021b ).…”

Section: Introductionmentioning

confidence: 99%

RETRACTED ARTICLE: COVID-19 and stock exchange return variation: empirical evidences from econometric estimation

Latif

Bashir

et al. 2021

Environ Sci Pollut Res

View full text Add to dashboard Cite

show abstract

“…It is evident from the table that the research on the relationship between renewable energy, economic growth and CO 2 emissions in the BRICS nations can be considered limited; hence, the methodologies of this research as well as the comprehensive data set represent the novelty and importance of this study, as it is apparent that the majority of the studies have concentrated on developed and emerging markets, bypassing the BRICS economies. Given the importance of BRICS nations in the global economic system, it is paramount that the above-mentioned relationships are explored in the context of these countries [21,22]. There are volumes of research on the relationship between economic development, use of renewable energy and CO 2 emissions, but to provide a snapshot of previous research on the topic Table 1 was created, containing the summarized form of the most relevant research.…”

Section: Literature Reviewmentioning

confidence: 99%

“…They employed panel spatial SEM and (GS2SLS) on (EU) countries and concluded that there exists a positive relationship between economic development and increase in CO 2 emissions; at the same time, they concluded that use of renewable energy sources seems to greatly reduce the overall level of CO 2 emissions. Shayanmehr [21] and Nathaniel et al [22] had earlier noted the negative impact of CO 2 emissions on the economy in terms of climate change, as they concluded that even a small percentage change in CO 2 emissions tends to have a disastrous impact on food security and overall economic wellbeing of countries. They cited that this change mainly results from the changes in climatic patterns, which harm crops and cause issues of food security which in turn results in economic problems.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of Renewable Energy on Economic Growth and CO2 Emissions—Evidence from BRICS Countries

Otero

Sial

et al. 2021

Processes

View full text Add to dashboard Cite

The global focus on the use of renewable energy resources was mainly reignited by the signing of the Kyoto Protocol Agreement in 1997. Since then, the world has seen a great deal of progress in terms of the production and consumption of renewable energy. This in turn is rapidly powering economic growth and social development around the globe. Contrary to popular belief, the use of renewable energy is not limited to developed countries only. The developing countries are also rapidly endorsing renewable energy as a vital engine of economic growth and societal development. In this regard, even though renewable energy production and consumption are in their infancy in BRICS, these countries are taking concrete steps towards the development of renewable energy resources. The results of previous studies have indicated that with an increase in the GDP of a country its carbon footprint also tends to increase; the Brazil, Russia, India, China, and South Africa (BRICS) countries are no exception in this regard. One of the main challenges in research related to measuring the contribution of renewable energy towards economic growth is the use of a singular model or techniques that may not be appropriate for the generalization of the results. This study intends to overcome this challenge by application of multiple econometric-based models which include the “Cross Dependency” test, the unit root test, and “CIPS” (cross-sectional augmented IPS). Besides these the second generation, stochastic models based upon econometrics, such as the DOLS test (dynamic ordinary least square) and the FMOLS (fully modified ordinary least square) are also applied for verification of the contribution of renewable energy towards the economic growth of the BRICS countries. The novelty of the study mainly stems from fact that these models are seldom applied in tandem and especially in the BRICS countries. The results of the study indicate that the existence of the bi-directional relationship between the use of renewable energy and economic growth is mainly indicated by the increase in GDP, thus lending support to the feedback hypothesis. Moreover, the conservation hypothesis was proven by the existence of a unidirectional causality relationship between the use of renewable energy and CO2 emissions. Alongside these, the study also included sensitivity analysis to gauge the impact of the growth of GDP on the CO2 emissions of BRICS countries, and regression analysis was performed to create an EKC curve which was used to gauge not only the sensitivity but also to help in highlighting the impact of using renewable energy in controlling and reducing CO2 emissions, thus proving the EKC theory. Thus, it can be deduced that increase in CO2 emissions is of major concern for the BRICS countries, which has led them to increase the production of renewable energy. Based upon the findings of the present study it is recommended that policymakers should encourage the use of renewable energy by offering incentives in financial terms, such as interest-free or low-interest loans, subsidies and feed-in tariffs.

show abstract

“…The contribution of this paper lies in the following aspects, (i) Our key aim is to identify the most cost-effective method for producing sustainable hydrogen from electricity produced by wind turbines. We have measured the wind power potential and economic viability of wind generated renewable hydrogen to initiate the feasibility of clean fuel (Mohsin, Kamran, Nawaz, Hussain, & Dahri, 2021). (ii) We have also measured electrolysis cost of wind generated reenwable hydrogen.…”

Section: Introductionmentioning

confidence: 99%

Assessing The Economic Viability And Fueling Capacity of Renewable Hydrogen: A Way Forward For Green Economic Performance And Policy Measures

Wu¹,

Zhai²,

Mu³

et al. 2021

Preprint

View full text Add to dashboard Cite

Energy security and environmental measurements are incomplete without renewable energy therefore there is a dire need to explore new energy sources. Therefore, the aim of this study is to measure the wind power potential to generate the renewable hydrogen including its production and supply cost. We used first order eneginnering model and net present value to measure the levelized cost of wind generated renewable hydrogen by using the data source of Pakistan metorological department and State bank of Paksitan. Results shows that the use of surplus wind and renewable hydoregn energy for green economic production is suggested as an innovative project option for large-scale hydrogen use. The key annual running expenses for hydrogen are electricity and storage cost, which have a major impact on the costs of renwable hydrogen. Also, the results indicates that project has the potential to cut CO2 pollution by 139 million metric tons and raise revenue for wind power plants by 2998.52 million dollars. The renewable electrolyzer plants avoided CO2 at a rate of 24.9–36.9 $/ton under baseload service, relative to 44.3 $/ton for the benchmark. However, in the more practical mid-load situation, these plants have a significant benefit. Further, the wind generated renewable hydrogen deliver a 6–11% larger than annual rate of return than the standard CO2 catch plant due to their capacity to remain running and supply hydrogen to the consumer through periods of plentiful wind and heat. Also, the measured levelized output cost of hydrogen (LCOH) was 6.22$/kgH2 and for the PEC system, it was 8.43 $/kgH2. Finally, its mutually agreed consensus of the environmental scientist that integration of renewable energy is the way forward to increase energy security and environmental performance by ensuring uninterrupted clean and green energy. Further, this application has the potential to address Pakistan’s urgent issues of large-scale surplus wind and solar-generated energy, as well as rising enegry demand.

show abstract

Assessing the impact of transition from nonrenewable to renewable energy consumption on economic growth-environmental nexus from developing Asian economies

Cited by 431 publications

References 61 publications

RETRACTED ARTICLE: COVID-19 and stock exchange return variation: empirical evidences from econometric estimation

RETRACTED ARTICLE: COVID-19 and stock exchange return variation: empirical evidences from econometric estimation

Impact of Renewable Energy on Economic Growth and CO2 Emissions—Evidence from BRICS Countries

Assessing The Economic Viability And Fueling Capacity of Renewable Hydrogen: A Way Forward For Green Economic Performance And Policy Measures

Contact Info

Product

Resources

About