The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries
This study investigates the short-term and long-term impacts of economic growth, trade openness and technological progress on renewable energy use in Organization for Economic Co-operation and Development (OECD) countries. Based on a panel data set of 25 OECD countries for 43 years, we used the auto...
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| Format: | Article |
| Language: | English |
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Elsevier B.V.
2020
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| Online Access: | https://repo.uum.edu.my/id/eprint/27506/1/RE%20145%202020%20382%20390.pdf |
| _version_ | 1825805660684550144 |
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| author | Alam, Md Mahmudul Murad, Md Wahid |
| author_facet | Alam, Md Mahmudul Murad, Md Wahid |
| author_sort | Alam, Md Mahmudul |
| collection | UUM |
| description | This study investigates the short-term and long-term impacts of economic growth, trade openness and technological progress on renewable energy use in Organization for Economic Co-operation and Development (OECD) countries. Based on a panel data set of 25 OECD countries for 43 years, we used the autoregressive distributed lag (ARDL) approach and the related intermediate estimators, including pooled mean group (PMG), mean group (MG) and dynamic fixed effect (DFE) to achieve the objective. The estimated ARDL model has also been checked for robustness using the two substitute single equation estimators, these being the dynamic ordinary least squares (DOLS) and fully modified ordinary least squares (FMOLS). Empirical results reveal that economic growth, trade openness and technological progress significantly influence renewable energy use over the long-term in OECD countries. While the long-term nature of dynamics of the variables is found to be similar across 25 OECD countries, their short-term dynamics are found to be mixed in nature. This is attributed to varying levels of trade openness and technological progress in OECD countries. Since this is a pioneer study that investigates the issue, the findings are completely new and they make a significant contribution to renewable energy literature as well as relevant policy development. |
| first_indexed | 2024-07-04T06:35:53Z |
| format | Article |
| id | uum-27506 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:35:53Z |
| publishDate | 2020 |
| publisher | Elsevier B.V. |
| record_format | eprints |
| spelling | uum-275062020-09-27T06:48:22Z https://repo.uum.edu.my/id/eprint/27506/ The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries Alam, Md Mahmudul Murad, Md Wahid HC Economic History and Conditions This study investigates the short-term and long-term impacts of economic growth, trade openness and technological progress on renewable energy use in Organization for Economic Co-operation and Development (OECD) countries. Based on a panel data set of 25 OECD countries for 43 years, we used the autoregressive distributed lag (ARDL) approach and the related intermediate estimators, including pooled mean group (PMG), mean group (MG) and dynamic fixed effect (DFE) to achieve the objective. The estimated ARDL model has also been checked for robustness using the two substitute single equation estimators, these being the dynamic ordinary least squares (DOLS) and fully modified ordinary least squares (FMOLS). Empirical results reveal that economic growth, trade openness and technological progress significantly influence renewable energy use over the long-term in OECD countries. While the long-term nature of dynamics of the variables is found to be similar across 25 OECD countries, their short-term dynamics are found to be mixed in nature. This is attributed to varying levels of trade openness and technological progress in OECD countries. Since this is a pioneer study that investigates the issue, the findings are completely new and they make a significant contribution to renewable energy literature as well as relevant policy development. Elsevier B.V. 2020 Article PeerReviewed application/pdf en https://repo.uum.edu.my/id/eprint/27506/1/RE%20145%202020%20382%20390.pdf Alam, Md Mahmudul and Murad, Md Wahid (2020) The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries. Renewable Energy, 145. pp. 382-390. ISSN 09601481 http://doi.org/10.1016/j.renene.2019.06.054 doi:10.1016/j.renene.2019.06.054 doi:10.1016/j.renene.2019.06.054 |
| spellingShingle | HC Economic History and Conditions Alam, Md Mahmudul Murad, Md Wahid The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries |
| title | The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries |
| title_full | The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries |
| title_fullStr | The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries |
| title_full_unstemmed | The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries |
| title_short | The impacts of economic growth, trade openness and technological progress on renewable energy use in organization for economic co-operation and development countries |
| title_sort | impacts of economic growth trade openness and technological progress on renewable energy use in organization for economic co operation and development countries |
| topic | HC Economic History and Conditions |
| url | https://repo.uum.edu.my/id/eprint/27506/1/RE%20145%202020%20382%20390.pdf |
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