气候变化领域集成服务门户(CCPortal): How economic policy uncertainty and financial development contribute to renewable energy consumption? The importance of economic globalization

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DOI	10.1016/j.renene.2022.11.089
	How economic policy uncertainty and financial development contribute to renewable energy consumption? The importance of economic globalization
	Yi, Sun; Raghutla, Chandrashekar; Chittedi, Krishna Reddy; Fareed, Zeeshan
发表日期	2023
ISSN	0960-1481
EISSN	1879-0682
起始页码	1357
结束页码	1367
卷号	202
英文摘要	Across the globe, many countries have planned to increase renewable energy production capacity by support of financial development, technological innovations and economic policies. Since, using more traditional energy resources produces a large quantity of carbon emissions leading to global warming and climate change. To maintain normal climate and reduce global warming is only possible by shifting the use of traditional energy resources to renewable energy resources. All countries have to give more priority for development of renewable energy which will ensure sustainability and environmental quality. Therefore, this study examines the impact of economic policy uncertainty and financial development on renewable energy consumption by considering role of economic globalization in renewable energy demand function in top renewable energy consuming countries, spanning the period of 2003M01-2020M12. We applied panel econometric approaches which handle cross-section dependency, endogeneity and heterogeneity for empirical analysis. The results for long-run and short-run elas-ticities show that economic growth, financial development and economic globalization have a significant and positive impact on renewable energy consumption. Economic policy uncertainty impedes renewable energy production capacity. Overall, the results suggest that economic globalization, financial development and eco-nomic growth significantly increase renewable energy consumption. These results offer new insights for policy -makers to advancement of renewable energy sources by allocation of more capital and transfer of technology for the improvement of environmental quality in top renewable energy consumers.
英文关键词	Renewable energy consumption; Economic globalization; Economic policy uncertainty; Financial development; CS-ARDL Approach
语种	英语
WOS研究方向	Green & Sustainable Science & Technology ; Energy & Fuels
WOS类目	Science Citation Index Expanded (SCI-EXPANDED)
WOS记录号	WOS:000901644800006
来源期刊	RENEWABLE ENERGY
文献类型	期刊论文
条目标识符	http://gcip.llas.ac.cn/handle/2XKMVOVA/280789
作者单位	Anhui University of Finance & Economics; National Institute of Technology (NIT System); National Institute of Technology Puducherry; University of Hyderabad; Huzhou University
推荐引用方式 GB/T 7714	Yi, Sun,Raghutla, Chandrashekar,Chittedi, Krishna Reddy,et al. How economic policy uncertainty and financial development contribute to renewable energy consumption? The importance of economic globalization[J],2023,202.
APA	Yi, Sun,Raghutla, Chandrashekar,Chittedi, Krishna Reddy,&Fareed, Zeeshan.(2023).How economic policy uncertainty and financial development contribute to renewable energy consumption? The importance of economic globalization.RENEWABLE ENERGY,202.
MLA	Yi, Sun,et al."How economic policy uncertainty and financial development contribute to renewable energy consumption? The importance of economic globalization".RENEWABLE ENERGY 202(2023).