LAPSE:2019.1075
Published Article
LAPSE:2019.1075
Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests
Muhammad Waris Ali Khan, Shrikant Krupasindhu Panigrahi, Khamis Said Nasser Almuniri, Mujeeb Iqbal Soomro, Nayyar Hussain Mirjat, Eisa Salim Alqaydi
September 30, 2019
Understanding the dynamic nexus between CO2 emissions and economic growth in the sustainable environment helps the economies in developing resources and formulating apposite energy policies. In the recent past, various studies have explored the nexus between CO2 emissions and economic growth. This study, however, investigates the nexus between renewable energy production, CO2 emissions, and economic growth over the period from 1995 to 2016 for seven Association of Southeast Asian Nations (ASEAN) countries. Fully Modified Ordinary Least Square (FMOLS) and Dynamic Ordinary Least Square (DOLS) methodologies were used to estimate the long- and short-run relationships. The panel results revealed that renewable energy production has a significant long term effect on CO2 emissions for Vietnam (t = −2.990), Thailand (t = −2.505), and Indonesia (t = −2.515), and economic growth impact for Malaysia (t = 2.050), Thailand (t = −2.001), and the Philippines (t = −2.710). It is, therefore, vital that the ASEAN countries implement policies and strategies that ensure energy saving and continuous economic growth without forsaking the environment. This study, as such, recommends that ASEAN countries should take measures to decrease the reliance on fossil fuels for achieving these objectives. Future research should consider the principles of circular economy and clean energy development mechanisms integrated with renewable energy technologies.
Keywords
carbon emissions, dynamic panel cointegration model, economic growth, Energy, Fully Modified Ordinary Least Square (FMOLS), Renewable and Sustainable Energy
Suggested Citation
Khan MWA, Panigrahi SK, Almuniri KSN, Soomro MI, Mirjat NH, Alqaydi ES. Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests. (2019). LAPSE:2019.1075
Author Affiliations
Khan MWA: Faculty of Industrial Management, Universiti Malaysia Pahang, Gambang 26300, Malaysia
Panigrahi SK: College of Business, University of Buraimi, Alburaimi, P.O. Box 890, P.C.512, Oman
Almuniri KSN: College of Business, University of Buraimi, Alburaimi, P.O. Box 890, P.C.512, Oman
Soomro MI: Department of Mechanical Engineering, Mehran University of Engineering & Technology, SZAB Campus, Khairpur 66020, Pakistan [ORCID]
Mirjat NH: Department of Electrical Engineering, Mehran University of Engineering and Technology, Jamshoro 76062, Pakistan
Alqaydi ES: Faculty of Health Sciences, DeMontfort University, Leicester LE8 4AA, UK
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Journal Name
Processes
Volume
7
Issue
8
Article Number
E496
Year
2019
Publication Date
2019-08-01
Published Version
ISSN
2227-9717
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Original Submission
Other Meta
PII: pr7080496, Publication Type: Journal Article
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LAPSE:2019.1075
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doi:10.3390/pr7080496
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Sep 30, 2019
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CC BY 4.0
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Sep 30, 2019
 
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Sep 30, 2019
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Calvin Tsay
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