Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT
The importance of Renewable energy has been well documented in the literature, especially in the nexus of renewable energy-led environmental sustainability. The purpose of the study is to gauge the effects of green investment (GI), technological innovation (TI), and financial Openness (FO) on Renewa...
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| Format: | Article |
| Language: | English |
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Elsevier
2023-11-01
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| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844023082919 |
| _version_ | 1797429959936966656 |
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| author | Md Qamruzzaman Salma Karim |
| author_facet | Md Qamruzzaman Salma Karim |
| author_sort | Md Qamruzzaman |
| collection | DOAJ |
| description | The importance of Renewable energy has been well documented in the literature, especially in the nexus of renewable energy-led environmental sustainability. The purpose of the study is to gauge the effects of green investment (GI), technological innovation (TI), and financial Openness (FO) on Renewable Energy Consumption (REC) in MINT for the period 1996–2019. Several econometric tools have been considered in documenting the target nexus, including the panel unit root test following CADF and CIPS, Error correction Cointegration test, CS-ARDL, nonlinear ARDL, and directional causality test by employing the D-H Causality test. The panel unit root test revealed that all the variables become stationary after the first difference. The long-run association in the target model is unveiled with the panel cointegration test. A positive and statistically significant connection regarding FO, TI, and GI coefficients on REC has been exposed. It suggests that the progress in RE development and inclusion in economic activities could be amplified through FO, TI, and GI. Inferring the results of asymmetric valuation, the test statistics of a standard Wald test document asymmetric association in the long run and short run. Furthermore, the coefficients of positive and negative innovation in explanatory variables, i.e., TI, GI, & FO, divulge a positive statistically significant tie to REC, which is valid in long-run and short-run assessment. |
| first_indexed | 2024-03-09T09:20:36Z |
| format | Article |
| id | doaj.art-11ea1a3e88f1473cb883e22e3e10b79c |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-03-09T09:20:36Z |
| publishDate | 2023-11-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-11ea1a3e88f1473cb883e22e3e10b79c2023-12-02T07:01:11ZengElsevierHeliyon2405-84402023-11-01911e21083Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINTMd Qamruzzaman0Salma Karim1School of Business and Economics, United International University, Dhaka, 1212, BangladeshCorresponding author.; School of Business and Economics, United International University, Dhaka, 1212, BangladeshThe importance of Renewable energy has been well documented in the literature, especially in the nexus of renewable energy-led environmental sustainability. The purpose of the study is to gauge the effects of green investment (GI), technological innovation (TI), and financial Openness (FO) on Renewable Energy Consumption (REC) in MINT for the period 1996–2019. Several econometric tools have been considered in documenting the target nexus, including the panel unit root test following CADF and CIPS, Error correction Cointegration test, CS-ARDL, nonlinear ARDL, and directional causality test by employing the D-H Causality test. The panel unit root test revealed that all the variables become stationary after the first difference. The long-run association in the target model is unveiled with the panel cointegration test. A positive and statistically significant connection regarding FO, TI, and GI coefficients on REC has been exposed. It suggests that the progress in RE development and inclusion in economic activities could be amplified through FO, TI, and GI. Inferring the results of asymmetric valuation, the test statistics of a standard Wald test document asymmetric association in the long run and short run. Furthermore, the coefficients of positive and negative innovation in explanatory variables, i.e., TI, GI, & FO, divulge a positive statistically significant tie to REC, which is valid in long-run and short-run assessment.http://www.sciencedirect.com/science/article/pii/S2405844023082919Renewable energy consumptionGreen investmentTechnological innovationFinancial opennessCross-sectional autoregressive distributed laggedNonlinear autoregressive distributed lagged |
| spellingShingle | Md Qamruzzaman Salma Karim Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT Heliyon Renewable energy consumption Green investment Technological innovation Financial openness Cross-sectional autoregressive distributed lagged Nonlinear autoregressive distributed lagged |
| title | Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT |
| title_full | Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT |
| title_fullStr | Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT |
| title_full_unstemmed | Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT |
| title_short | Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT |
| title_sort | clarifying the relationship between green investment technological innovation financial openness and renewable energy consumption in mint |
| topic | Renewable energy consumption Green investment Technological innovation Financial openness Cross-sectional autoregressive distributed lagged Nonlinear autoregressive distributed lagged |
| url | http://www.sciencedirect.com/science/article/pii/S2405844023082919 |
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