Renewable energy and total factor productivity in OECD member countries

Sohag, Kazi; Chukavina, Kristina; Samargandi, Nahla

doi:10.1016/j.jclepro.2021.126499

Cited by 83 publications

(37 citation statements)

References 38 publications

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“…Our empirical finding is in harmony with [52], who documented a trade-off result between IFDI and domestic capital formation. Our results are supported by [53][54][55][56], which find evidence for crowding-out effects of inbound investment (IFDI) on domestic capital formation in Poland in 1990. In addition, our findings echo [52], which argues that multinationals have higher probability to access finance and productivity benefits compare to local industries.…”

Section: Analyzing Effects Of Inbound Investment and Outbound Investment On Aggregate Domestic Formation (Dcf) In The Gulf Economiessupporting

confidence: 82%

Outflow FDI and Domestic Investment: Aggregated and Disaggregated Analysis

Ameer

Sohag

et al. 2021

Sustainability

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Recently, the Gulf Cooperation Council (GCC) member countries increased their foreign investment outflows (OFDI), underpinning domestic investment (DCF) and diversifying their economies to reduce the reliance on hydrocarbon economies and augmenting green investments. Thus, our research study examines the effects of OFDI on aggregate capital formation and the decomposing effects of capital formation in to private as well as public investment by applying the common correlation effects (CS-ARDL) panel data methodology in the GCC countries. Our empirical result findings show that OFDI do not significantly spur domestic investment in the GCC countries. However, our disaggregated analysis shows that OFDI significantly contributes to private capital formation only while its contribution to public capital formation remains inconclusive. The extensive public involvement in the economies causes a crowding-out effect, eventually impedes the economic diversification, competitiveness and green activities. Our empirical evidence provides a few policy implications.

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Section: Analyzing Effects Of Inbound Investment and Outbound Investment On Aggregate Domestic Formation (Dcf) In The Gulf Economiessupporting

confidence: 82%

Outflow FDI and Domestic Investment: Aggregated and Disaggregated Analysis

Ameer

Sohag

et al. 2021

Sustainability

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“…This paper analyzes the relationship between renewable and fossil fuel energy consumption and total factor productivity in G20 countries 1 for the period from 1990 to 2015. 2 For this purpose, the main function inspiring by Tugcu and Tiwari (2016), Rath et al (2019), and Sohag et al (2021) that we have used is as follows:…”

Section: Model Data and Methodologymentioning

confidence: 99%

“…However, this result is invalid for African countries. Sohag et al (2021) studied for OECD countries and reached that renewable energy positively affects TFP. Also, they included nonrenewable energy consumption in the econometric model.…”

Section: Literature Reviewmentioning

confidence: 99%

“…Moreover, the use of renewable energy consumption, due to contributes environmental sustainability, increases labor productivity, and helps protect natural resources. Thus, TFP growth is supported (Sohag et al, 2021;Şimşek, 2011). In the light of these explanations, the TFP effect, which arises as a result of the economic and environmental effects caused by energy types in the relationship between energy consumption and TFP, draws attention to the importance of the energy compositions of countries for TFP.…”

Section: Introductionmentioning

confidence: 99%

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The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 Countries

Altınöz¹

2021

Ekonomi, Politika &Amp; Finans Araştırmaları Dergisi

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The aim of this study is to examine the effect of both renewable and fossil fuel energy consumption on total factor productivity in G20 countries by using fixed effects with Driscoll and Kraay standard errors approach. Analysis results suggest that renewable energy consumption has a positive impact on total factor productivity in the long run. Accordingly, an increase in renewable energy consumption increases the total factor productivity by about 0.007 percent in the long run. Although the coefficient of fossil fuel energy consumption is positive, it is statistically insignificant. In this study, labor force and capital are included in model as control variables. While capital formation increases total factor productivity in the long run, total labor force decreases it. The results highlight the necessity of including renewable energy consumption and capital accumulation in possible policies to increase total factor productivity. Moreover, revising energy consumption policies to encourage renewable sources may be one of the priorities of policymakers to increase the positive impact of renewable energy consumption.

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“…Therefore, we believe that TFP is a good indicator of the efficiency of China's forestry investment. In fact, many scholars have already applied TFP to green investment (Allevi et al, 2019), forestry resources (Li et al, 2017), environmental efficiency (Wen et al, 2018), and renewable energy (Sohag et al, 2021). Their research methods can provide us with a certain theoretical basis.…”

Section: Introductionmentioning

confidence: 99%

Research on Provincial Forestry Investment Efficiency in China

Zeng¹,

Liu²,

Ya³

et al. 2021

Advances in Management and Applied Economics

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Forestry is the largest carrier of the green economy. Its strong ecological and economic effect makes it the object of green investment. To explore whether Chinese forestry investment is effectively utilized, we measured the input-output efficiency of forestry investment in 31 provinces in China through the super-slack-based measure model and the Malmquist index in the data envelopment analysis model. Based on this, we further analyze the redundant (insufficient) situation of input (output) in inefficient regions and changes in the efficiency of China’s forestry investment. The results show that the comprehensive efficiency of forestry investment in most provinces of China is low, among which the developed provinces are limited by input factors, while the less developed provinces are affected by low-scale efficiency. Second, the environmental benefit of forestry investment in the sample area is not obvious, and the output of forest carbon sequestration is low. Third, the efficiency of forestry investment in most provinces of China is improving, but the application technology of forestry investment has become the main factor hindering the improvement of forestry investment efficiency. JEL classification numbers: E22, Q23, Q54. Keywords: Forestry, investment efficiency, China.

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Renewable energy and total factor productivity in OECD member countries

Cited by 83 publications

References 38 publications

Outflow FDI and Domestic Investment: Aggregated and Disaggregated Analysis

Outflow FDI and Domestic Investment: Aggregated and Disaggregated Analysis

The Effect of Renewable and Fossil Fuel Energy Consumption on Total Factor Productivity in G20 Countries

Research on Provincial Forestry Investment Efficiency in China

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