Do renewable, non-renewable energy, carbon emission and KOF globalization influencing economic growth? Evidence from BRICS’ countries

Oliveira, Henrique Viana Espinosa de; Moutinho, Víctor

doi:10.1016/j.egyr.2022.01.031

Cited by 36 publications

(11 citation statements)

References 7 publications

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“…Similarly, Shahbaz et al (2020) and Jia et al (2023) found that renewable energy consumption has a positive impact on long-term economic development. Other empirical studies, such as Bhat (2018), Bayar & Gavriletea (2019) and de Oliveira & Moutinho (2022), came to opposite conclusions than the studies mentioned above. Their results showed an insignificant relationship between energy use and economic growth.…”

Section: Literature Reviewmentioning

confidence: 75%

The Impact of Renewable and Non-Renewable Energy Consumption on Aggregate Output in Pakistan: Robust Evidence from the RALS Cointegration Test

Khalid

2023

Preprint

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Pakistan’s energy consumption has significantly increased over the past three decades due to industrialization, population growth, and development activities. Pakistan has initiated short-term energy-oriented plans by establishing thermal power projects to meet the growing energy demands. However, these projects are more costly in terms of financial outlays and environmental harms than hydropower projects. Consequently, Pakistan is vulnerable to global oil price fluctuations and environmental damage. To address this dilemma, this empirical research examines the impact of non-energy factors (labour and capital) and energy-specific factors (renewable and non-renewable) on Pakistan’s aggregate output by considering annual data from 1980 to 2021. The analysis employs the newly established Residual Augmented Least Square (RALS) cointegration test and the Autoregressive Distributed Lag (ARDL) methodology to estimate the long-term cointegrating connection among the variables. The empirical findings demonstrate that non-energy and energy-specific factors positively and significantly impact Pakistan’s long-term aggregate output, except for petroleum consumption (insignificant). The study suggests a diversified energy-supply mix explicitly characterized by hydroelectricity, non-hydroelectric renewables (mainly solar and wind), and natural gas. Furthermore, the study suggests encouraging private sector participation in renewable energy initiatives and implementing effective carbon tax policies to mitigate CO2 emissions and improve economic growth.

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Section: Literature Reviewmentioning

confidence: 75%

The Impact of Renewable and Non-Renewable Energy Consumption on Aggregate Output in Pakistan: Robust Evidence from the RALS Cointegration Test

Khalid

2023

Preprint

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“…Similarly, using G20 nations, Ajide and Mesagan (2022) research highlight that ecological quality can be achieved via green energy. Likewise, the studies of Zhang et al (2022), de Oliveira and Moutinho (2022), Ehigiamusoe and Dogan (2022), and Kuldasheva and Salahodjaev (2022) respectively reported the emissions‐mitigating role of RENG. Likewise, using Pakistan as a case, the work of Ramzan et al (2022) utilizing Second generation approach disclosed that an upsurge in RENG lessens CO 2 emissions.…”

Section: Overview Of Literaturementioning

confidence: 88%

Greening the Brazil, Russia, India, China and South Africa (BRICS) economies: Assessing the impact of electricity consumption, natural resources, and renewable energy on environmental footprint

Jahanger

Awan

Anwar

et al. 2023

Natural Resources Forum

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Electricity consumption is a crucial factor in the environmental pollution process, and therefore, its impact needs to be carefully considered by policymakers. This study investigates the relationship between energy consumption, electricity generation, natural resource utilization, and environmental pollution in BRICS nations, which have a substantial share in global resource consumption. To this end, we employed a novel methodology, namely the Method of Moment Quantile Regression (MMQR), for the time period between 1990 and 2018, within the framework of the Environmental Kuznets Curve (EKC) theory. The study's outcome shows that natural resources and renewable energy are efficacious and significant in curbing environmental degradation among the sample countries. The investigation reveals a positive correlation between electricity consumption and environmental degradation, thereby highlighting this vital resource's role in exacerbating the BRICS nations’ ecological footprint. The findings from this research can provide crucial insights for policymakers to achieve sustainable development and carbon neutrality in these countries.

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“…If the panel is cross-sectionally dependent, then the Augmented mean group (AMG), mean group (MG), and pooled mean group (PMG) can produce deceptive outcomes. In large and cross-sectionally dependent panels, the generalized method of moments (GMM) is the most suitable pragmatic technique [99,100]. Therefore, we selected a two-step system GMM…”

Section: Dynamic Impact Of Green Energy Financial Inclusion and Milit...mentioning

confidence: 99%

Nexus of green energy, financial inclusion, militarization, and environmental sustainability: A global perspective

Murtaza,

Hongzhong,

Magdalena

et al. 2024

PLoS ONE

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This article investigates the dynamic impact of green energy consumption (GE), financial inclusion (FI), and military spending (MS) on environmental sustainability (ES) by utilizing a sample of 121 countries from 2003 to 2022. The dataset is divided into high-income, upper-middle income and low and lower-middle-income countries. We employed a two-step system GMM approach, which was further robust through panel Quantile and Driscoll-Kraay (D-K) regressions. The findings divulged that green energy resources benefit ES at global and all income levels because of having a significant negative impact of 5.9% on ecological footprints. At the same time, FI and MS significantly enhance ecological footprints by 7% and 6.9%, respectively, proving these factors detrimental to ES. Moreover, conflicts (CON), terrorism (TM), institutional quality (IQ), and socioeconomic conditions (SEC) also have a significantly positive association with global ecological footprints and most of the income level groups. Dissimilarly, financial inclusion and armed conflicts have a non-significant influence on ecological footprints in low-income and high-income countries, respectively. Furthermore, institutional quality enhances ES in upper-middle and low and lower-middle-income countries by negatively affecting ecological footprints. At the same time, terrorism significantly reduces ecological footprints in high-income countries. This research also provides the imperative policy inferences to accomplish various SDGs.

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Do renewable, non-renewable energy, carbon emission and KOF globalization influencing economic growth? Evidence from BRICS’ countries

Cited by 36 publications

References 7 publications

The Impact of Renewable and Non-Renewable Energy Consumption on Aggregate Output in Pakistan: Robust Evidence from the RALS Cointegration Test

The Impact of Renewable and Non-Renewable Energy Consumption on Aggregate Output in Pakistan: Robust Evidence from the RALS Cointegration Test

Greening the Brazil, Russia, India, China and South Africa (BRICS) economies: Assessing the impact of electricity consumption, natural resources, and renewable energy on environmental footprint

Nexus of green energy, financial inclusion, militarization, and environmental sustainability: A global perspective

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