Unveiling the asymmetric energy-growth nexus in top oil-importing and exporting countries: The common correlated effects approach

Sim, Khang Yi; Sek, Siok Kun

doi:10.1177/0958305x221127019

Cited by 3 publications

(1 citation statement)

References 62 publications

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“…Following Cergibozan (2022), this study also uses Augmented Average Groups (AMGs) to reveal the impact of FDI and institutional quality on economic growth and climate change in individual countries. AMG is a panel autoregressive distributed lag (ARDL) model that allows for cross-sectional correlation and sample heterogeneity, outperforming first-generation panel estimation techniques (Sim and Sek, 2022;Wei and Huang, 2022). This approach incorporates common dynamic effects (CDEs) into a two-stage estimation process to account for crosssectional dependencies (Hashmi et al, 2021;Maza, 2022).…”

Section: Country-specific Analysis By Augmented Mean Groups (Amgs) Es...mentioning

confidence: 99%

RETRACTED: An empirical investigation of the impact of renewable and non-renewable energy consumption and economic growth on climate change, evidence from emerging Asian countries

Zhao¹,

Zhang

Ali

et al. 2023

Front. Environ. Sci.

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One of the greatest challenges facing humanity in the current millennium is the need to mitigate climate change, and one of the most viable options to overcome this challenge is to invest in renewable energy. The study dynamically examines the impact of renewable and non-renewable energy consumption and economic growth on climate change, using Augmented Mean Group (AMG) technique in emerging Asian countries during the period 1975–2020. The estimated results show that the consumption of renewable energy sources significantly mitigates climate change, while the consumption of non-renewable energy sources significantly contributes to climate change. Furthermore, economic growth, investment in transport infrastructure, and urbanization significantly accelerate climate change in specific emerging Asian countries. The results further demonstrate the validity of the inverted U-shaped EKC hypothesis in emerging Asian economies. Country-specific analysis results using AMG estimates shows that renewable energy consumption reduces climate change for all specific emerging Asian countries. However, the consumption of non-renewable energy sources and investments in transport infrastructure have significant incremental impacts on climate change in all countries. Urbanization contributes significantly to climate change, with the exception of Japan, which does not have any significant impact on climate change. The significant progressive effect of GDP and the significant adverse impact of GDP2 on climate change confirm the validity of the inverted U-shaped EKC hypothesis in India, China, Japan, and South Korea. Moreover, the Dumitrescu and Hurlin causality test confirmed a pairwise causal relationship between non-renewable energy consumption and GDP, supporting the feedback hypothesis. According to the empirical analysis of this study, the best strategy for climate change mitigation in specific emerging countries in Asia is to transition from non-renewable energy to renewable energy.

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Section: Country-specific Analysis By Augmented Mean Groups (Amgs) Es...mentioning

confidence: 99%

RETRACTED: An empirical investigation of the impact of renewable and non-renewable energy consumption and economic growth on climate change, evidence from emerging Asian countries

Zhao¹,

Zhang

Ali

et al. 2023

Front. Environ. Sci.

View full text Add to dashboard Cite

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Links between renewable and non-renewable energy consumption, economic growth, and climate change, evidence from five emerging Asian countries

Long

Ali

et al. 2023

Environ Sci Pollut Res

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Examining the asymmetric effects of energy intensity in low‐ versus high‐income economies: New evidence using common correlated effects approach

Sim,

Sek

2024

Natural Resources Forum

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This study aims to investigate the symmetric and asymmetric effects of total and renewable energy intensity on economic growth (GDP) in two panel groups classified by their income levels, namely, low‐ and lower‐middle‐income economies versus high‐income economies over 1990–2021. Heterogeneous estimators are adopted in the common correlated effects models, covering slope heterogeneity, cross‐sectional dependence and nonstationarity or cointegration (long‐run effect). New evidence is obtainable from this study because energy intensity is decomposed into its positive and negative series and incorporated into the model estimations so that the effect of its increases and decreases can be observed. Hence, our innovative models are improved and better mimic real economic situations. The results demonstrate that energy intensity and GDP are negatively correlated, and the causal effect is nonlinear or asymmetric. The effect also differs across the two panel groups. The decreases in total energy intensity (LTEI–) have a greater adverse impact on GDP than energy intensity increases (LTEI+) for low‐ and lower‐middle‐income economies. For high‐income economies, the detrimental influence of LTEI+ is more prominent than that of LTEI–. Moreover, the increases in renewable energy intensity (LREI+) also impede the GDP of high‐income economies, but with a relatively smaller impact compared to LTEI+ and LTEI–. On the contrary, the gain in GDP for both groups is driven by gross fixed capital formation although the conducive impact is rather small compared to the unfavourable effect of total energy intensity on the GDP. Besides, the labour force participation rate promotes a higher GDP in the high‐income group. Therefore, critical attention and proper energy policy formulation should be stipulated in achieving sustainable development and contributing to the Sustainable Development Goals.

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Unveiling the asymmetric energy-growth nexus in top oil-importing and exporting countries: The common correlated effects approach

Cited by 3 publications

References 62 publications

RETRACTED: An empirical investigation of the impact of renewable and non-renewable energy consumption and economic growth on climate change, evidence from emerging Asian countries

RETRACTED: An empirical investigation of the impact of renewable and non-renewable energy consumption and economic growth on climate change, evidence from emerging Asian countries

Links between renewable and non-renewable energy consumption, economic growth, and climate change, evidence from five emerging Asian countries

Examining the asymmetric effects of energy intensity in low‐ versus high‐income economies: New evidence using common correlated effects approach

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