Fossil Fuel Price, Carbon Dioxide Emission, And Renewable Energy Capacity: Evidence from Asian Developing Countries
This paper examined the impact of fossil fuel price and carbon dioxide (CO2) emission on renewable energy, using a sample of 14 Asian developing countries from the years 2000 to 2018. Fossil fuel prices, mainly those of crude oil and coal, are positively related to renewable energy capacity. CO2 emi...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
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UUM Press
2021
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| Online Access: | https://repo.uum.edu.my/id/eprint/29223/1/IJBF%2016%2001%202021%2079-96.pdf |
| _version_ | 1803629607277035520 |
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| author | Khaw, Karren Lee-Hwei Toh, Jia Ni |
| author_facet | Khaw, Karren Lee-Hwei Toh, Jia Ni |
| author_sort | Khaw, Karren Lee-Hwei |
| collection | UUM |
| description | This paper examined the impact of fossil fuel price and carbon dioxide (CO2) emission on renewable energy, using a sample of 14 Asian developing countries from the years 2000 to 2018. Fossil fuel prices, mainly those of crude oil and coal, are positively related to renewable energy capacity. CO2 emission is also a positive driver, indicating the significance of environmental concern. The results were consistent for both the upper-middle-income and lower-middle-income countries. Between fossil fuels and CO2 emission, the positive impact of CO2 emission outweighed that of fossil fuels. From a policy perspective, this paper concurs the need to shift huge subsidies away from fossil fuels to renewable energy and to enforce a heavy tax on CO2 emission for a sustainable environment. |
| first_indexed | 2024-07-04T06:40:32Z |
| format | Article |
| id | uum-29223 |
| institution | Universiti Utara Malaysia |
| language | English |
| last_indexed | 2024-07-04T06:40:32Z |
| publishDate | 2021 |
| publisher | UUM Press |
| record_format | dspace |
| spelling | uum-292232023-03-05T08:45:27Z https://repo.uum.edu.my/id/eprint/29223/ Fossil Fuel Price, Carbon Dioxide Emission, And Renewable Energy Capacity: Evidence from Asian Developing Countries Khaw, Karren Lee-Hwei Toh, Jia Ni HF Commerce This paper examined the impact of fossil fuel price and carbon dioxide (CO2) emission on renewable energy, using a sample of 14 Asian developing countries from the years 2000 to 2018. Fossil fuel prices, mainly those of crude oil and coal, are positively related to renewable energy capacity. CO2 emission is also a positive driver, indicating the significance of environmental concern. The results were consistent for both the upper-middle-income and lower-middle-income countries. Between fossil fuels and CO2 emission, the positive impact of CO2 emission outweighed that of fossil fuels. From a policy perspective, this paper concurs the need to shift huge subsidies away from fossil fuels to renewable energy and to enforce a heavy tax on CO2 emission for a sustainable environment. UUM Press 2021 Article PeerReviewed application/pdf en cc4_by https://repo.uum.edu.my/id/eprint/29223/1/IJBF%2016%2001%202021%2079-96.pdf Khaw, Karren Lee-Hwei and Toh, Jia Ni (2021) Fossil Fuel Price, Carbon Dioxide Emission, And Renewable Energy Capacity: Evidence from Asian Developing Countries. International Journal of Banking and Finance (IJBF), 16 (1). pp. 79-96. ISSN 2590-423X https://doi.org/10.32890/ijbf2021.16.1.5 |
| spellingShingle | HF Commerce Khaw, Karren Lee-Hwei Toh, Jia Ni Fossil Fuel Price, Carbon Dioxide Emission, And Renewable Energy Capacity: Evidence from Asian Developing Countries |
| title | Fossil Fuel Price, Carbon Dioxide Emission, And Renewable Energy Capacity: Evidence from Asian Developing Countries |
| title_full | Fossil Fuel Price, Carbon Dioxide Emission, And Renewable Energy Capacity: Evidence from Asian Developing Countries |
| title_fullStr | Fossil Fuel Price, Carbon Dioxide Emission, And Renewable Energy Capacity: Evidence from Asian Developing Countries |
| title_full_unstemmed | Fossil Fuel Price, Carbon Dioxide Emission, And Renewable Energy Capacity: Evidence from Asian Developing Countries |
| title_short | Fossil Fuel Price, Carbon Dioxide Emission, And Renewable Energy Capacity: Evidence from Asian Developing Countries |
| title_sort | fossil fuel price carbon dioxide emission and renewable energy capacity evidence from asian developing countries |
| topic | HF Commerce |
| url | https://repo.uum.edu.my/id/eprint/29223/1/IJBF%2016%2001%202021%2079-96.pdf |
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