An assessment of environmental sustainability corridor: The role of economic expansion and research and development in EU countries

Authors: Adedoyin, F., Alola, A.A. and Bekun, F.V.

http://eprints.bournemouth.ac.uk/33242/

Journal: Science of The Total Environment

Publisher: Elsevier

ISSN: 0048-9697

Given that the European Union-28 countries proposed a target of 3% of the Gross Domestic Product on research and development (R&D) expenditure by 2020, the current study attempts to examine the role of R&D on environmental sustainability. In addition, the study further investigates the long-run and causal interaction between, renewable energy consumption, nonrenewable energy consumption, and economic growth in an ecological footprint function. Notably, the study incorporates research and development (R&D) expenditure to the model as an additional variable, and measures impact of each variable on ecological footprint.

Empirical evidence is based on a balanced panel data between annual periods of 1997-2014 for selected EU-16 countries. The Pedroni, Johansen Multivariate and Kao tests all reveal a cointegration between ecological footprint, economic growth, research and development expenditure, renewable, and nonrenewable energy consumption. The Fully Modified and Dynamic Ordinary Least Squares models (FMOLS and DOLS) both suggest a negative significant relationship between the countries' research and development expenditure and ecological footprint in the long-run. This implies that spending on R&D significantly impacts on the environmental sustainability of the panel countries. Our study affirms that nonrenewable energy consumption and economic growth increase carbon emission flaring while renewable energy consumption declines ecological footprint. The panel causality analysis reveals a feedback mechanism between ecological footprint, R&D expenditure, renewable, and nonrenewable energy consumption. We further observed a one-way causality between ecological footprint and economic growth. Effective policy implications could be drawn toward modern and environmentally friendly energy sources, especially in attaining the Sustainable Development Goals via spending on R&D.

This data was imported from PubMed:

Authors: Adedoyin, F.F., Alola, A.A. and Bekun, F.V.

http://eprints.bournemouth.ac.uk/33242/

Journal: Sci Total Environ

Volume: 713

Pages: 136726

eISSN: 1879-1026

DOI: 10.1016/j.scitotenv.2020.136726

Given that the European Union-28 countries proposed a target of 3% of the Gross Domestic Product on research and development (R&D) expenditure by 2020, the current study attempts to examine the role of R&D on environmental sustainability. In addition, the study further investigates the long-run and causal interaction between, renewable energy consumption, nonrenewable energy consumption, and economic growth in an ecological footprint-income function. Notably, the study incorporates research and development (R&D) expenditure to the model as an additional variable, and measures impact of each variable on ecological footprint. Empirical evidence is based on a balanced panel data between annual periods of 1997-2014 for selected EU-16 countries. The Pedroni, Johansen Multivariate and Kao tests all reveal a cointegration between ecological footprint, economic growth, research and development expenditure, renewable, and nonrenewable energy consumption. The Fully Modified and Dynamic Ordinary Least Squares models (FMOLS and DOLS) both suggest a negative significant relationship between the countries' research and development expenditure and ecological footprint in the long-run. This implies that spending on R&D significantly impacts on environmental sustainability of the panel countries. Our study affirms that nonrenewable energy consumption and economic growth increase carbon emission flaring while renewable energy consumption declines ecological footprint. The panel causality analysis reveals a feedback mechanism between ecological footprint, R&D expenditure, renewable, and nonrenewable energy consumption. We further observed a one-way causality between ecological footprint and economic growth. The current further validates that the Environmental Kuznet Curve Hypothesis (EKC) holds for this panel of EU countries examined. Effective policy implications could be drawn toward modern and environmentally friendly energy sources, especially in attaining the Sustainable Development Goals via spending on R&D.

This data was imported from Scopus:

Authors: Adedoyin, F.F., Alola, A.A. and Bekun, F.V.

http://eprints.bournemouth.ac.uk/33242/

Journal: Science of the Total Environment

Volume: 713

eISSN: 1879-1026

ISSN: 0048-9697

DOI: 10.1016/j.scitotenv.2020.136726

© 2020 Elsevier B.V. Given that the European Union-28 countries proposed a target of 3% of the Gross Domestic Product on research and development (R&D) expenditure by 2020, the current study attempts to examine the role of R&D on environmental sustainability. In addition, the study further investigates the long-run and causal interaction between, renewable energy consumption, nonrenewable energy consumption, and economic growth in an ecological footprint-income function. Notably, the study incorporates research and development (R&D) expenditure to the model as an additional variable, and measures impact of each variable on ecological footprint. Empirical evidence is based on a balanced panel data between annual periods of 1997–2014 for selected EU-16 countries. The Pedroni, Johansen Multivariate and Kao tests all reveal a cointegration between ecological footprint, economic growth, research and development expenditure, renewable, and nonrenewable energy consumption. The Fully Modified and Dynamic Ordinary Least Squares models (FMOLS and DOLS) both suggest a negative significant relationship between the countries' research and development expenditure and ecological footprint in the long-run. This implies that spending on R&D significantly impacts on environmental sustainability of the panel countries. Our study affirms that nonrenewable energy consumption and economic growth increase carbon emission flaring while renewable energy consumption declines ecological footprint. The panel causality analysis reveals a feedback mechanism between ecological footprint, R&D expenditure, renewable, and nonrenewable energy consumption. We further observed a one-way causality between ecological footprint and economic growth. The current further validates that the Environmental Kuznet Curve Hypothesis (EKC) holds for this panel of EU countries examined. Effective policy implications could be drawn toward modern and environmentally friendly energy sources, especially in attaining the Sustainable Development Goals via spending on R&D.

This data was imported from Web of Science (Lite):

Authors: Adedoyin, F.F., Alola, A.A. and Bekun, F.V.

http://eprints.bournemouth.ac.uk/33242/

Journal: SCIENCE OF THE TOTAL ENVIRONMENT

Volume: 713

eISSN: 1879-1026

ISSN: 0048-9697

DOI: 10.1016/j.scitotenv.2020.136726

The data on this page was last updated at 14:40 on July 12, 2020.