Investigating the nexus between hydroelectricity energy, renewable energy, nonrenewable energy consumption on output: evidence from E7 countries

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Küçük Resim

Tarih

2020

Dergi Başlığı

Dergi ISSN

Cilt Başlığı

Yayıncı

SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY

Erişim Hakkı

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

Özet

The transition of most economies especially heavily industrialized nations like China, Turkey, Russia, India, Indonesia, Brazil, and Mexico fondly known as E7 are fast emerging economies with its impact on economic growth and ecosystem. On the above highlight, the present study explores the dynamic interaction between hydroelectricity energy, renewable energy consumption, nonrenewable energy consumption on economic growth over annual time frequency data from 1990 to 2018. To this end, Kao co-integration technique is adopted in conjunction with panel ordinary least squares, dynamic ordinary least squares, and fully modified ordinary least square estimators over the identified blocs while the heterogeneous causality test of Dumitrescu and Hurlin is employed to detect the direction of causality among the variables. Empirical result shows long-run analysis reveals long-run equilibrium relationship between the examined variables. Furthermore, a one-way causality relationship is observed between economic growth and nonrenewable energy, economic growth and renewable energy, and economic growth and pollutant emission. The present study identifies a U-shaped pattern among nonrenewable energy consumption and economic growth in the long-run. These findings suggest that as economic growth increases, there is less strengthening of energy from the nonrenewable energy consumption hence, portentous deterioration in nonrenewable usage while authenticating the proficiency of nonrenewable energy consumption in the E7 countries. Further policy prescriptions are rendered in the concluding section.

Açıklama

Anahtar Kelimeler

Energy consumption, Energy consumption hypothesis, Kao co-integration, Panel regression test, Heterogeneous causality, E7 countries

Kaynak

Environmental Science and Pollution Research

WoS Q Değeri

Q2

Scopus Q Değeri

Q1

Cilt

27

Sayı

20

Künye