Environmental quality effects of income, energy prices and trade: The role of renewable energy consumption in G-7 countries

Yükleniyor...
Küçük Resim

Tarih

2020

Dergi Başlığı

Dergi ISSN

Cilt Başlığı

Yayıncı

ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS

Erişim Hakkı

info:eu-repo/semantics/openAccess
Attribution-NonCommercial-NoDerivs 3.0 United States

Özet

Renewable energy plays a vital role in achieving environmental sustainability, however, the mitigating effect varies across countries depending on the share of renewables in the energy mix. Herein, we analyze the effect of renewable energy consumption, energy prices, and trade on emissions in G-7 countries. The results demonstrate that renewable energy and energy prices exert negative pressure on CO2 emissions while trade volume exerts a robust positive pressure on CO2 emissions. The country-specific estimation results provide evidence of a negative effect of energy prices on CO2 emissions. While the environmental Kuznets curve hypothesis is validated at the panel and country-specific levels, the effect of renewable energy consumption and trade, are disparate across countries. The panel Granger causality shows a mono-directional causality flowing from energy prices, GDP, the quadratic term of GDP and trade to CO2 emissions. Renewable energy consumption, however, has no causal relationship with CO2 emissions but indirectly affects CO2 emissions through its direct effect on energy prices. Joint action on trade, energy prices, and country-specific renewable energy policies have implications for environmental sustainability and the attainment of the Sustainable Development Goals (SDGs).

Açıklama

Document Information Language:English Accession Number: WOS:000535467800021 PubMed ID: 32197283

Anahtar Kelimeler

Renewable energy consumption, Energy prices, EKC hypothesis, G7 countries, KUZNETS CURVE HYPOTHESIS, CO2 EMISSIONS, ECONOMIC-GROWTH, FINANCIAL DEVELOPMENT, EMPIRICAL-EVIDENCE, OIL PRICES, CONVERGENCE, NEXUS, G7, URBANIZATION

Kaynak

SCIENCE OF THE TOTAL ENVIRONMENT

WoS Q Değeri

Q1

Scopus Q Değeri

Q1

Cilt

721

Sayı

Künye