Modelling dynamic links among energy transition, technological level and economic development from the perspective of economic globalisation: Evidence from MENA economies
It is patently obvious that renewable energy sources like solar and wind play a crucial part in preventing environmental degradation. This research analyses the interplay between energy transitions, technology, disaggregated energy consumption, and long-term economic growth in 21 states of the Middl...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2023-12-01
|
| Series: | Energy Reports |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2352484723002366 |
| _version_ | 1827902715281276928 |
|---|---|
| author | Mona Alariqi Wei Long Prabhat Ranjan Singh Abdo Al-Barakani Abdullahi Muazu |
| author_facet | Mona Alariqi Wei Long Prabhat Ranjan Singh Abdo Al-Barakani Abdullahi Muazu |
| author_sort | Mona Alariqi |
| collection | DOAJ |
| description | It is patently obvious that renewable energy sources like solar and wind play a crucial part in preventing environmental degradation. This research analyses the interplay between energy transitions, technology, disaggregated energy consumption, and long-term economic growth in 21 states of the Middle East and North Africa countries (MENA). Using cutting-edge econometric techniques, the study conduct empirical research covering the years 1997–2021 and uncover persistent connections between the variables of interest. In a long-run analysis, energy transitions (ET), economic globalization (EG), technology (T), consumption of renewable energy (RE), and consumption of non-renewable energy (NRE) positively impact economic growth (EGR), while natural resources (N) exhibit no effects on economic growth. In the short-run analysis, energy transitions, economic globalization, and natural resources, on the other hand, revealed negative impacts on economic growth. Whereas other variables like technology, consumption of renewable energy, and consumption of non-renewable energy showed no effects on the economy’s growth in the short term analysis. Policymakers in MENA countries are urged to lower carbon costs and taxes, work together more on R&D, bring technologies with low CO2 emissions to market, cut subsidies for non-renewable sources, set up a framework for the spread of new technologies, and adopt a green trade strategy in order to achieve sustainable development. |
| first_indexed | 2024-03-13T00:03:07Z |
| format | Article |
| id | doaj.art-bd31a1f402f74ad1a38f0f8cc50e40fa |
| institution | Directory Open Access Journal |
| issn | 2352-4847 |
| language | English |
| last_indexed | 2024-03-13T00:03:07Z |
| publishDate | 2023-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Energy Reports |
| spelling | doaj.art-bd31a1f402f74ad1a38f0f8cc50e40fa2023-07-13T05:29:41ZengElsevierEnergy Reports2352-48472023-12-01939203931Modelling dynamic links among energy transition, technological level and economic development from the perspective of economic globalisation: Evidence from MENA economiesMona Alariqi0Wei Long1Prabhat Ranjan Singh2Abdo Al-Barakani3Abdullahi Muazu4School of Economics, Department of Industrial Economics, Wuhan University of Technology, Wuhan, 430070, ChinaSchool of Economics, Department of Industrial Economics, Wuhan University of Technology, Wuhan, 430070, China; Corresponding author.Amity Institute of Information Technology, Amity University, Patna, Bihar - 801503, IndiaSchool of Economics and Trade, Hunan University, Changsha, Hunan Province, ChinaSchool of Economics, Department of Industrial Economics, Wuhan University of Technology, Wuhan, 430070, ChinaIt is patently obvious that renewable energy sources like solar and wind play a crucial part in preventing environmental degradation. This research analyses the interplay between energy transitions, technology, disaggregated energy consumption, and long-term economic growth in 21 states of the Middle East and North Africa countries (MENA). Using cutting-edge econometric techniques, the study conduct empirical research covering the years 1997–2021 and uncover persistent connections between the variables of interest. In a long-run analysis, energy transitions (ET), economic globalization (EG), technology (T), consumption of renewable energy (RE), and consumption of non-renewable energy (NRE) positively impact economic growth (EGR), while natural resources (N) exhibit no effects on economic growth. In the short-run analysis, energy transitions, economic globalization, and natural resources, on the other hand, revealed negative impacts on economic growth. Whereas other variables like technology, consumption of renewable energy, and consumption of non-renewable energy showed no effects on the economy’s growth in the short term analysis. Policymakers in MENA countries are urged to lower carbon costs and taxes, work together more on R&D, bring technologies with low CO2 emissions to market, cut subsidies for non-renewable sources, set up a framework for the spread of new technologies, and adopt a green trade strategy in order to achieve sustainable development.http://www.sciencedirect.com/science/article/pii/S2352484723002366Bond estimation (ABE)Cross sectional dependencyDumitrescu and HurlinEnergy consumption |
| spellingShingle | Mona Alariqi Wei Long Prabhat Ranjan Singh Abdo Al-Barakani Abdullahi Muazu Modelling dynamic links among energy transition, technological level and economic development from the perspective of economic globalisation: Evidence from MENA economies Energy Reports Bond estimation (ABE) Cross sectional dependency Dumitrescu and Hurlin Energy consumption |
| title | Modelling dynamic links among energy transition, technological level and economic development from the perspective of economic globalisation: Evidence from MENA economies |
| title_full | Modelling dynamic links among energy transition, technological level and economic development from the perspective of economic globalisation: Evidence from MENA economies |
| title_fullStr | Modelling dynamic links among energy transition, technological level and economic development from the perspective of economic globalisation: Evidence from MENA economies |
| title_full_unstemmed | Modelling dynamic links among energy transition, technological level and economic development from the perspective of economic globalisation: Evidence from MENA economies |
| title_short | Modelling dynamic links among energy transition, technological level and economic development from the perspective of economic globalisation: Evidence from MENA economies |
| title_sort | modelling dynamic links among energy transition technological level and economic development from the perspective of economic globalisation evidence from mena economies |
| topic | Bond estimation (ABE) Cross sectional dependency Dumitrescu and Hurlin Energy consumption |
| url | http://www.sciencedirect.com/science/article/pii/S2352484723002366 |
| work_keys_str_mv | AT monaalariqi modellingdynamiclinksamongenergytransitiontechnologicallevelandeconomicdevelopmentfromtheperspectiveofeconomicglobalisationevidencefrommenaeconomies AT weilong modellingdynamiclinksamongenergytransitiontechnologicallevelandeconomicdevelopmentfromtheperspectiveofeconomicglobalisationevidencefrommenaeconomies AT prabhatranjansingh modellingdynamiclinksamongenergytransitiontechnologicallevelandeconomicdevelopmentfromtheperspectiveofeconomicglobalisationevidencefrommenaeconomies AT abdoalbarakani modellingdynamiclinksamongenergytransitiontechnologicallevelandeconomicdevelopmentfromtheperspectiveofeconomicglobalisationevidencefrommenaeconomies AT abdullahimuazu modellingdynamiclinksamongenergytransitiontechnologicallevelandeconomicdevelopmentfromtheperspectiveofeconomicglobalisationevidencefrommenaeconomies |