Assessment of Nexus between energy consumption and sustainable development in Russian Federation: A disaggregate analysis
Russia's competitiveness and productivity encounter the intense environmental challenges due to the reckless fossil fuel consumption, putting this country's long-run sustainability at risk. Despite this, this country intends to achieve the sustainable development goal by cutting greenhouse...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2022-01-01
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| Series: | World Development Sustainability |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2772655X22000209 |
| _version_ | 1811178699751424000 |
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| author | Md. Monirul Islam Kazi Sohag Muhammad Shahbaz |
| author_facet | Md. Monirul Islam Kazi Sohag Muhammad Shahbaz |
| author_sort | Md. Monirul Islam |
| collection | DOAJ |
| description | Russia's competitiveness and productivity encounter the intense environmental challenges due to the reckless fossil fuel consumption, putting this country's long-run sustainability at risk. Despite this, this country intends to achieve the sustainable development goal by cutting greenhouse gas (GHG) emissions to 70% of its 1990 level as pledged in the Paris Agreement in 2016. This research assesses the relationship between disaggregate (renewable and non-renewable) energy consumption and sustainable development within the purview of financial, demographic and country risk indicators using annual time-series data from 1990 to 2020. This paper utilizes an augmented ARDL approach to co-integration and a dynamic ARDL simulation model to detect counterfactual forecasting shocks to the predictor variables and their effects on the predicted indicator. The study's findings divulge that renewable energy consumption escalates the sustainable development in the long run, whereas non-renewable energy consumption declines. Then again, urbanization and political terror scale (PTS) have a long-term adverse effect on sustainable development. On the other hand, financial openness substantially exerts a favorable long-term influence on sustainable development. Therefore, this study suggests shifting to generous renewable energy usage to ease the adverse effect of non-renewable energy consumption on the sustainable development in Russia. |
| first_indexed | 2024-04-11T06:23:45Z |
| format | Article |
| id | doaj.art-241fd0249ffa4f0da8a09bde5c4d85fc |
| institution | Directory Open Access Journal |
| issn | 2772-655X |
| language | English |
| last_indexed | 2024-04-11T06:23:45Z |
| publishDate | 2022-01-01 |
| publisher | Elsevier |
| record_format | Article |
| series | World Development Sustainability |
| spelling | doaj.art-241fd0249ffa4f0da8a09bde5c4d85fc2022-12-22T04:40:28ZengElsevierWorld Development Sustainability2772-655X2022-01-011100027Assessment of Nexus between energy consumption and sustainable development in Russian Federation: A disaggregate analysisMd. Monirul Islam0Kazi Sohag1Muhammad Shahbaz2Graduate School of Economics and Management (GSEM), Ural Federal University (UrFU), Yekaterinburg, Russia; Governance and Public Policy (GPP), Bangladesh Institute of Governance and Management (BIGM), Dhaka, Bangladesh; Corresponding author.Graduate School of Economics and Management (GSEM), Ural Federal University (UrFU), Yekaterinburg, RussiaSchool of Management and Economics, Beijing Institute of Technology, ChinaRussia's competitiveness and productivity encounter the intense environmental challenges due to the reckless fossil fuel consumption, putting this country's long-run sustainability at risk. Despite this, this country intends to achieve the sustainable development goal by cutting greenhouse gas (GHG) emissions to 70% of its 1990 level as pledged in the Paris Agreement in 2016. This research assesses the relationship between disaggregate (renewable and non-renewable) energy consumption and sustainable development within the purview of financial, demographic and country risk indicators using annual time-series data from 1990 to 2020. This paper utilizes an augmented ARDL approach to co-integration and a dynamic ARDL simulation model to detect counterfactual forecasting shocks to the predictor variables and their effects on the predicted indicator. The study's findings divulge that renewable energy consumption escalates the sustainable development in the long run, whereas non-renewable energy consumption declines. Then again, urbanization and political terror scale (PTS) have a long-term adverse effect on sustainable development. On the other hand, financial openness substantially exerts a favorable long-term influence on sustainable development. Therefore, this study suggests shifting to generous renewable energy usage to ease the adverse effect of non-renewable energy consumption on the sustainable development in Russia.http://www.sciencedirect.com/science/article/pii/S2772655X22000209Energy consumptionRenewable energyNon-renewable energySustainable developmentAugmented ARDL modelDynamic ARDL simulations, Russia |
| spellingShingle | Md. Monirul Islam Kazi Sohag Muhammad Shahbaz Assessment of Nexus between energy consumption and sustainable development in Russian Federation: A disaggregate analysis World Development Sustainability Energy consumption Renewable energy Non-renewable energy Sustainable development Augmented ARDL model Dynamic ARDL simulations, Russia |
| title | Assessment of Nexus between energy consumption and sustainable development in Russian Federation: A disaggregate analysis |
| title_full | Assessment of Nexus between energy consumption and sustainable development in Russian Federation: A disaggregate analysis |
| title_fullStr | Assessment of Nexus between energy consumption and sustainable development in Russian Federation: A disaggregate analysis |
| title_full_unstemmed | Assessment of Nexus between energy consumption and sustainable development in Russian Federation: A disaggregate analysis |
| title_short | Assessment of Nexus between energy consumption and sustainable development in Russian Federation: A disaggregate analysis |
| title_sort | assessment of nexus between energy consumption and sustainable development in russian federation a disaggregate analysis |
| topic | Energy consumption Renewable energy Non-renewable energy Sustainable development Augmented ARDL model Dynamic ARDL simulations, Russia |
| url | http://www.sciencedirect.com/science/article/pii/S2772655X22000209 |
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