Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter?
This study examines the impact of globalization(s) on renewable energy consumption in OECD countries by endogenizing per capita GDP, oil prices and per capita carbon emissions. We use robust globalization(s) as measured by the “classic”, “reconstructed” and “revisited” globalization indexes. The nov...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2020-11-01
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| Series: | Energy Strategy Reviews |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2211467X20300882 |
| _version_ | 1818352464838000640 |
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| author | Hemachandra Padhan Purna Chandra Padhang Aviral Kumar Tiwari Rizwan Ahmed Shawkat Hammoudeh |
| author_facet | Hemachandra Padhan Purna Chandra Padhang Aviral Kumar Tiwari Rizwan Ahmed Shawkat Hammoudeh |
| author_sort | Hemachandra Padhan |
| collection | DOAJ |
| description | This study examines the impact of globalization(s) on renewable energy consumption in OECD countries by endogenizing per capita GDP, oil prices and per capita carbon emissions. We use robust globalization(s) as measured by the “classic”, “reconstructed” and “revisited” globalization indexes. The novel method of Machado and Silva Panel quantile regression (2019) approach is used to obtain robust findings for the renewable energy consumption-globalization nexus. The results confirm the presence of a long-run association between renewable energy consumption with globalization(s), per capita GDP, oil prices and per capita carbon emissions. The empirical results also describe that there are positive effects for per capita income, the real price of oil and carbon emissions per capita on the renewable energy consumption. In addition, a higher level of (overall, economics, social and political) classic globalization promotes renewable energy consumption, while the “reconstructed” and “revisited” economic globalization reduces the use of renewable energy consumption, and this finding is also robust to different measures of economic globalization. Moreover, the panel quantile regression reveals that renewable energy consumption increases the domestic economy in the middle (0.50) quantile group of the population through importing more advanced technology and positive spilling over markets, while the lower quantile group and the higher quantile group of the population are using non-renewable (coal, wood) energy because of the livelihood practice that is based on coal and wood (for the lower quantiles group of the population) and for the sake of speedy growth (for the higher quantiles group of the population) that worsens the environmental quality without caring for the contents of globalization. |
| first_indexed | 2024-12-13T18:54:03Z |
| format | Article |
| id | doaj.art-75de2e91528447249589aabbba71ea3b |
| institution | Directory Open Access Journal |
| issn | 2211-467X |
| language | English |
| last_indexed | 2024-12-13T18:54:03Z |
| publishDate | 2020-11-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Energy Strategy Reviews |
| spelling | doaj.art-75de2e91528447249589aabbba71ea3b2022-12-21T23:34:52ZengElsevierEnergy Strategy Reviews2211-467X2020-11-0132100535Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter?Hemachandra Padhan0Purna Chandra Padhang1Aviral Kumar Tiwari2Rizwan Ahmed3Shawkat Hammoudeh4Department of Humanities and Social Sciences (HSS), Indian Institute of Technology (IIT), Madras, India; Corresponding author.XLRI, Xavier School of Management, Jamshedpur, Jharkhand, IndiaRajagiri Business School, Rajagiri Valley Campus, Kochi, India; South Ural State University, Lenin Prospect 76, Chelyabinsk 454080, Russian FederationDepartment of Finance University of Birmingham, Business School, United KingdomLebow College of Business, Drexel University, USA; Institute of Business Research, University of Economic Ho Chi Minh, VietnamThis study examines the impact of globalization(s) on renewable energy consumption in OECD countries by endogenizing per capita GDP, oil prices and per capita carbon emissions. We use robust globalization(s) as measured by the “classic”, “reconstructed” and “revisited” globalization indexes. The novel method of Machado and Silva Panel quantile regression (2019) approach is used to obtain robust findings for the renewable energy consumption-globalization nexus. The results confirm the presence of a long-run association between renewable energy consumption with globalization(s), per capita GDP, oil prices and per capita carbon emissions. The empirical results also describe that there are positive effects for per capita income, the real price of oil and carbon emissions per capita on the renewable energy consumption. In addition, a higher level of (overall, economics, social and political) classic globalization promotes renewable energy consumption, while the “reconstructed” and “revisited” economic globalization reduces the use of renewable energy consumption, and this finding is also robust to different measures of economic globalization. Moreover, the panel quantile regression reveals that renewable energy consumption increases the domestic economy in the middle (0.50) quantile group of the population through importing more advanced technology and positive spilling over markets, while the lower quantile group and the higher quantile group of the population are using non-renewable (coal, wood) energy because of the livelihood practice that is based on coal and wood (for the lower quantiles group of the population) and for the sake of speedy growth (for the higher quantiles group of the population) that worsens the environmental quality without caring for the contents of globalization.http://www.sciencedirect.com/science/article/pii/S2211467X20300882Q42Q41F64C33 |
| spellingShingle | Hemachandra Padhan Purna Chandra Padhang Aviral Kumar Tiwari Rizwan Ahmed Shawkat Hammoudeh Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter? Energy Strategy Reviews Q42 Q41 F64 C33 |
| title | Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter? |
| title_full | Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter? |
| title_fullStr | Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter? |
| title_full_unstemmed | Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter? |
| title_short | Renewable energy consumption and robust globalization(s) in OECD countries: Do oil, carbon emissions and economic activity matter? |
| title_sort | renewable energy consumption and robust globalization s in oecd countries do oil carbon emissions and economic activity matter |
| topic | Q42 Q41 F64 C33 |
| url | http://www.sciencedirect.com/science/article/pii/S2211467X20300882 |
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