Renewable and non-renewable energy policy simulations for abating emissions in a complex economy: Evidence from the novel dynamic ARDL

Authors: Adedoyin, F.F., Ozturk, I., Bekun, F.V., Agboola, P.O. and Agboola, M.O.

Journal: Renewable Energy

Volume: 177

Pages: 1408-1420

eISSN: 1879-0682

ISSN: 0960-1481

DOI: 10.1016/j.renene.2021.06.018

Abstract:

According to the Economic Complexity Index, Japan was the number 1 most complex economy in the world. In addition to complexity, Japan pledges to reduce emissions by boosting cleaner energy sources. This study simulates two policies to highlight a path for Japan in achieving this ambitious energy and environmental target. The novel dynamic autoregressive distribution lag (ARDL) model and Kernel-based regularized least squares (KRLS) are adopted over panel data from 1970 to 2018. Empirical evidence from the ARDL and dynamic ARDL models shows that CO2 emissions have a significant long-term relationship with GDP per capita, renewable energy, and economic complexity index while air transport is significant in the short run. Putting it more elaborately, a unit increase in GDP per capita increase the emission by 0.84%–0.96% in the long run and 0.46%–0.48% in the short run. As regards renewable energy, a unit increase in it decrease the carbon emission by 0.07% and 0.04% in the long-run and short-run respectively. Also, an increase in the economic index diminished the emission by 0.81% in the long run. Moreover, economic complexity moderates the role of GDP in environmental degradation as it also has a significant impact on carbon emission.

http://eprints.bournemouth.ac.uk/35692/

Source: Scopus

Renewable and non-renewable energy policy simulations for abating emissions in a complex economy: Evidence from the novel dynamic ARDL

Authors: Adedoyin, F.F., Ozturk, I., Bekun, F.V., Agboola, P.O. and Agboola, M.O.

Journal: RENEWABLE ENERGY

Volume: 177

Pages: 1408-1420

eISSN: 1879-0682

ISSN: 0960-1481

DOI: 10.1016/j.renene.2021.06.018

http://eprints.bournemouth.ac.uk/35692/

Source: Web of Science (Lite)

Renewable and non-renewable energy policy simulations for abating emissions in a complex economy: Evidence from the novel dynamic ARDL

Authors: Adedoyin, F.F., Ozturk, I., Bekun, F.V., Agboola, P.O. and Agboola, M.O.

Journal: Renewable Energy

Volume: 177

Pages: 1408-1420

DOI: 10.1016/j.renene.2021.06.018

http://eprints.bournemouth.ac.uk/35692/

https://www.scopus.com/inward/record.uri?eid=2-s2.0-85108274318&doi=10.1016%2fj.renene.2021.06.018&partnerID=40&md5=111242d7170c429efc0005be93726762

Source: Manual

Preferred by: Festus Adedoyin

Renewable and non-renewable energy policy simulations for abating emissions in a complex economy: Evidence from the novel dynamic ARDL

Authors: Adedoyin, F.F., Ozturk, I., Bekun, F.V., Agboola, P.O. and Agboola, M.O.

Journal: Renewable Energy

Volume: 177

Issue: November

Pages: 1408-1420

ISSN: 0960-1481

Abstract:

According to the Economic Complexity Index, Japan was the number 1 most complex economy in the world. In addition to complexity, Japan pledges to reduce emissions by boosting cleaner energy sources. This study simulates two policies to highlight a path for Japan in achieving this ambitious energy and environmental target. The novel dynamic autoregressive distribution lag (ARDL) model and Kernel-based regularized least squares (KRLS) are adopted over panel data from 1970 to 2018. Empirical evidence from the ARDL and dynamic ARDL models shows that CO2 emissions have a significant long-term relationship with GDP per capita, renewable energy, and economic complexity index while air transport is significant in the short run. Putting it more elaborately, a unit increase in GDP per capita increase the emission by 0.84%–0.96% in the long run and 0.46%–0.48% in the short run. As regards renewable energy, a unit increase in it decrease the carbon emission by 0.07% and 0.04% in the long-run and short-run respectively. Also, an increase in the economic index diminished the emission by 0.81% in the long run. Moreover, economic complexity moderates the role of GDP in environmental degradation as it also has a significant impact on carbon emission.

http://eprints.bournemouth.ac.uk/35692/

Source: BURO EPrints