Relationship between the share of renewable electricity consumption, economic complexity, financial development, and oil prices: A two-step club convergence and PVAR model approach

Kazemzadeh, Emad; Fuinhas, José Alberto; Koengkan, Matheus; Shadmehri, Mohammad Taher Ahmadi

doi:10.1016/j.inteco.2022.12.001

Cited by 29 publications

(10 citation statements)

References 53 publications

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“…This underscores the significance of augmenting investments in RE initiatives, such as wind farms and solar installations, to foster a sustainable energy landscape for the future. The findings above align with the current body of literature that underscores the significance of green initiatives in facilitating the uptake of clean energy technologies [20,[30][31][32][33][34][35]. However, it is imperative to thoroughly evaluate the implementation challenges and barriers that could impede the effective execution of GI initiatives.…”

Section: Introductionsupporting

confidence: 71%

Nexus between Green Investment, Fiscal Policy, Environmental Tax, Energy Price, Natural Resources, and Clean Energy—A Step towards Sustainable Development by Fostering Clean Energy Inclusion

Yan,

Qamruzzaman,

Kor

2023

Sustainability

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Energy availability, especially derived from renewable sources, has sustainable effects on economic progress and environmental rectifications. However, using clean energy in the energy mix has been influenced by several macro fundamentals. The motivation of this study is to gauge the impact of uncertainties, environmental restrictions, and innovation on clean energy consumption for the period 1997–2021 by employing the new econometrical estimation techniques commonly known as CUP-FM and CUP-BC. Referring to the preliminary assessment with the slope of homogeneity, cross-sectional dependency, and the panel cointegration test, it is unveiled that research variables have exposed heterogeneity prosperities, cross-sectional dependence, and long-run association in the empirical equation. According to the empirical model output with CUP-FM and CUP-BC, EPU has a native statistically significant connection to clean energy consumption. At the same time, environmental tax and technological innovation have found beneficial effects on clean energy development. Additionally, the nonlinear estimation disclosed an asymmetric linkage between explanatory and explained variables in the long and short-run. Directional causality revealed a feedback hypothesis explaining the relationship between EPU, TI, and clean energy consumption. This study has offered policy suggestions based on the findings for future development.

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Section: Introductionsupporting

confidence: 71%

Nexus between Green Investment, Fiscal Policy, Environmental Tax, Energy Price, Natural Resources, and Clean Energy—A Step towards Sustainable Development by Fostering Clean Energy Inclusion

Yan,

Qamruzzaman,

Kor

2023

Sustainability

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“…In this paper, the panel vector autoregression model is used to analyze the transformation impact of the Northeast State-owned Forest Areas on hidden unemployment [46][47][48]. The specific formula is as follows:…”

Section: Panel Vector Autoregression Modelmentioning

confidence: 99%

Calculation and Cause Analysis of Hidden Unemployment—A Case Study of the Northeast State-Owned Forest Areas in China

Wang,

Cao,

Wen

2024

Sustainability

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The Northeast State-owned Forest Areas comprise the largest region of resources in China. The transformation of the Northeast State-owned Forest Areas is due to various stimuli, such as policies, systems, and markets. In the context of ecological construction and the reform of the state-owned forest system in Northeast China, these have undergone a transformation in terms of economy, society, and ecology. However, a mismatch persists between employment and industrial structures, leading to hidden unemployment. This study employs the framework of hidden unemployment theory, utilizing the Cobb–Douglas production function to quantify the hidden unemployment rate, revealing the relationship between transformation and hidden unemployment. Through this analysis, the underlying causes of hidden unemployment in Northeast China’s state-owned forest regions are scrutinized. There is a bidirectional causal relationship between ecological transformation and hidden unemployment, while there is a unidirectional causal relationship between economic transformation and hidden unemployment. Variance decomposition analysis highlights the substantial contribution of social transformation, followed by economic transformation, with ecological transformation playing a comparatively smaller role. Based on the above research, this article proposes expediting the reforms within the forest industry groups, facilitating the separation of governmental and corporate interests. Additionally, it advocates for strategic forestry development planning to effectively absorb surplus labor, and proposes three policy directives aimed at supporting forest area employees, including provisions for job transfers and reemployment opportunities.

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“…In recent years, the PVAR model has become increasingly prevalent in environmental economics involving energy efficiency, carbon emissions, electricity consumption and other topics (Kazemzadeh et al, 2023;Liu, Peng, & Chen, 2022;Pan et al, 2023;Tzeremes et al, 2023).…”

Section: Pvar Modelmentioning

confidence: 99%

“…The main drawback of PVAR model is that it is difficult to handle complex nonlinear relationships, multicollinearity, and autocorrelation issues. In recent years, the PVAR model has become increasingly prevalent in environmental economics involving energy efficiency, carbon emissions, electricity consumption and other topics (Kazemzadeh et al, 2023; Liu, Peng, & Chen, 2022; Pan et al, 2023; Tzeremes et al, 2023).…”

Section: Variable Description and Modelsmentioning

confidence: 99%

Financial development, carbon dioxide emissions, and sustainable development

Dong

Wang

et al. 2023

Sustainable Development

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China currently is the world's largest energy consumer and carbon dioxide emitter. How to effectively control carbon dioxide emissions and promote sustainable development is indispensable for achieving the “double carbon” goal, promoting comprehensive economic transformation and upgrading, and contributing to high‐quality economic development. There is no doubt that a large amount of financial resources need to be invested in the process of encouraging sustainable development. Therefore, what is the relationship among financial development, carbon dioxide emissions and sustainable development? Can financial development facilitate sustainable development? In order to answer these two key questions, this article uses entropy weight method, fixed effect model, and panel vector autoregressive (PVAR) model to deeply explore the static and dynamic relationship among financial development, carbon dioxide emissions and sustainable development with the panel data of 30 provinces in China from 2005 to 2021. The research results show that financial development is conducive to forwarding sustainable development, and the negative impact of carbon dioxide emissions on sustainable development is also significant at present. That means financial development and carbon dioxide emissions have important impact on sustainable development. The further empirical results of PVAR model show that there are significant differences in the impact of financial development and carbon dioxide emissions on sustainable development in different periods of time. Therefore, the government should take timely measures according to the different roles played by financial development and carbon dioxide emissions at different stages to promote sustainable development.

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Relationship between the share of renewable electricity consumption, economic complexity, financial development, and oil prices: A two-step club convergence and PVAR model approach

Cited by 29 publications

References 53 publications

Nexus between Green Investment, Fiscal Policy, Environmental Tax, Energy Price, Natural Resources, and Clean Energy—A Step towards Sustainable Development by Fostering Clean Energy Inclusion

Nexus between Green Investment, Fiscal Policy, Environmental Tax, Energy Price, Natural Resources, and Clean Energy—A Step towards Sustainable Development by Fostering Clean Energy Inclusion

Calculation and Cause Analysis of Hidden Unemployment—A Case Study of the Northeast State-Owned Forest Areas in China

Financial development, carbon dioxide emissions, and sustainable development

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