Do renewable energy and globalization enhance ecological footprint: an analysis of top renewable energy countries?

Mohd Arshad Ansari, Salman Haider, Tariq Masood
Author Information
  1. Mohd Arshad Ansari: School of Economics, University of Hyderabad, Gachibowli, Hyderabad, Telangana, 500046, India. 16seph17@uohyd.ac.in. ORCID
  2. Salman Haider: School of Economics, University of Hyderabad, Gachibowli, Hyderabad, Telangana, 500046, India.
  3. Tariq Masood: Faculty of Department of West Asian and North African Studies, Aligarh Muslim University, Aligarh, 202002, UP, India.

Abstract

This paper aims at estimating the dynamic impact of renewable and non-renewable energy consumption, globalization, urbanization, and economic growth on the environmental quality. Unlike previous study, this study used multi-dimensional indicator of environmental quality that is ecological footprint. Given the importance of renewable energy, a sample of top renewable energy consuming countries has been selected for analysis spanning the period 1991-2016. The analysis is carried out in panel data framework that considers the issues of cross sectional dependence and heterogeneity. The results of cointegration test show the existence of long-run equilibrium relationship among the variables. The long-run elasticity of pooled mean group shows positive impact of economic growth and non-renewable energy consumption on ecological footprint while negative impact is observed in case of renewable energy consumption, globalization and urbanization. The sensitivity of long-run elasticity has been checked with the help of fully modified ordinary least square and dynamic ordinary least square. Based on empirical findings, some policy implication has also been provided.

Keywords

References

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MeSH Term

Carbon Dioxide
Cross-Sectional Studies
Economic Development
Internationality
Renewable Energy

Chemicals

Carbon Dioxide

Word Cloud

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