How Does Renewable Energy Respond to Financial Globalization and Information and Communications Technology Trade?
Policymakers are looking at renewable energy as a substitute for traditional fossil fuels due to the growing concern about climate change and sustainable development. However, in the case of Asian countries, nothing is known about how ICT trade and financial globalization affect renewable energy con...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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MDPI AG
2024-02-01
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| Series: | Energies |
| Subjects: | |
| Online Access: | https://www.mdpi.com/1996-1073/17/3/750 |
| _version_ | 1797318786840264704 |
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| author | Chaoqun Fan Ahmed Usman |
| author_facet | Chaoqun Fan Ahmed Usman |
| author_sort | Chaoqun Fan |
| collection | DOAJ |
| description | Policymakers are looking at renewable energy as a substitute for traditional fossil fuels due to the growing concern about climate change and sustainable development. However, in the case of Asian countries, nothing is known about how ICT trade and financial globalization affect renewable energy consumption. To fill this gap, we have gathered data across 24 Asian economies, and a dynamic panel data approach known as GMM panel VAR is applied. The key outcomes of the GMM panel VAR underscore that ICT trade, financial globalization, and GDP favorably impact the current renewable energy consumption. Furthermore, the panel causality results indicate bidirectional causality between ICT trade, financial globalization, and renewable energy consumption. These findings have policy-relevant implications, highlighting the significance of financial liberalization and ICT-enabled trade in promoting renewable energy usage in Asian nations. |
| first_indexed | 2024-03-08T03:57:28Z |
| format | Article |
| id | doaj.art-2db4c5372244440d9d83882053c3f699 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-08T03:57:28Z |
| publishDate | 2024-02-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-2db4c5372244440d9d83882053c3f6992024-02-09T15:11:50ZengMDPI AGEnergies1996-10732024-02-0117375010.3390/en17030750How Does Renewable Energy Respond to Financial Globalization and Information and Communications Technology Trade?Chaoqun Fan0Ahmed Usman1Adam Smith Business School, University of Glasgow, Glasgow G11 6EY, UKDepartment of Management Sciences, Riphah International University, Faisalabad 44000, PakistanPolicymakers are looking at renewable energy as a substitute for traditional fossil fuels due to the growing concern about climate change and sustainable development. However, in the case of Asian countries, nothing is known about how ICT trade and financial globalization affect renewable energy consumption. To fill this gap, we have gathered data across 24 Asian economies, and a dynamic panel data approach known as GMM panel VAR is applied. The key outcomes of the GMM panel VAR underscore that ICT trade, financial globalization, and GDP favorably impact the current renewable energy consumption. Furthermore, the panel causality results indicate bidirectional causality between ICT trade, financial globalization, and renewable energy consumption. These findings have policy-relevant implications, highlighting the significance of financial liberalization and ICT-enabled trade in promoting renewable energy usage in Asian nations.https://www.mdpi.com/1996-1073/17/3/750renewable energyfinancial globalizationICT tradeGMM panel VAR |
| spellingShingle | Chaoqun Fan Ahmed Usman How Does Renewable Energy Respond to Financial Globalization and Information and Communications Technology Trade? Energies renewable energy financial globalization ICT trade GMM panel VAR |
| title | How Does Renewable Energy Respond to Financial Globalization and Information and Communications Technology Trade? |
| title_full | How Does Renewable Energy Respond to Financial Globalization and Information and Communications Technology Trade? |
| title_fullStr | How Does Renewable Energy Respond to Financial Globalization and Information and Communications Technology Trade? |
| title_full_unstemmed | How Does Renewable Energy Respond to Financial Globalization and Information and Communications Technology Trade? |
| title_short | How Does Renewable Energy Respond to Financial Globalization and Information and Communications Technology Trade? |
| title_sort | how does renewable energy respond to financial globalization and information and communications technology trade |
| topic | renewable energy financial globalization ICT trade GMM panel VAR |
| url | https://www.mdpi.com/1996-1073/17/3/750 |
| work_keys_str_mv | AT chaoqunfan howdoesrenewableenergyrespondtofinancialglobalizationandinformationandcommunicationstechnologytrade AT ahmedusman howdoesrenewableenergyrespondtofinancialglobalizationandinformationandcommunicationstechnologytrade |