Does Environmental Innovation, Foreign Direct Investment and Renewable Energy Consumption Curb Environmental Quality Issues? Evidence from PMG-ARDL Approach
One of the major concerns for environmental quality improvement is to reduce reliance on fossil energy consumption. However, there is a possibility that economic developments like foreign direct investment (FDI), urbanization, innovation and renewable energy consumption can mitigate carbon emiss...
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EconJournals
2024-12-01
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| Series: | International Journal of Energy Economics and Policy |
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| Online Access: | https://econjournals.com./index.php/ijeep/article/view/17027 |
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| author | Shrikant Krupasindhu Panigrahi Sumathi Kumaraswamy Sasikanta Tripathy Rabab Hasan Ebrahim |
| author_facet | Shrikant Krupasindhu Panigrahi Sumathi Kumaraswamy Sasikanta Tripathy Rabab Hasan Ebrahim |
| author_sort | Shrikant Krupasindhu Panigrahi |
| collection | DOAJ |
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One of the major concerns for environmental quality improvement is to reduce reliance on fossil energy consumption. However, there is a possibility that economic developments like foreign direct investment (FDI), urbanization, innovation and renewable energy consumption can mitigate carbon emission and curb environmental quality issues. Hence this examines the impact of innovation, FDI, renewable energy consumption and urbanization on the environmental quality of 46 countries for the period of 1990-2021. The study employed pooled mean group auto regressive distributed lag stationarity estimator for the empirical results. The study findings depict that in the long run, trade openness and innovation positively influence environmental quality, whereas FDI does not significantly affect environmental quality deterioration. Renewable energy consumption plays an important role in relying on fossil energy consumption and reducing carbon emissions. This study gives insights into necessary policy endorsements for the sustainability of environment through innovation.
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| format | Article |
| id | doaj-art-9ceccb5786d848bbbfcac4ae9608c6bc |
| institution | Kabale University |
| issn | 2146-4553 |
| language | English |
| publishDate | 2024-12-01 |
| publisher | EconJournals |
| record_format | Article |
| series | International Journal of Energy Economics and Policy |
| spelling | doaj-art-9ceccb5786d848bbbfcac4ae9608c6bc2024-12-23T01:04:07ZengEconJournalsInternational Journal of Energy Economics and Policy2146-45532024-12-0115110.32479/ijeep.17027Does Environmental Innovation, Foreign Direct Investment and Renewable Energy Consumption Curb Environmental Quality Issues? Evidence from PMG-ARDL ApproachShrikant Krupasindhu Panigrahi0Sumathi Kumaraswamy1Sasikanta Tripathy2Rabab Hasan Ebrahim3Economics and Finance Department, University of Bahrain, Sakhir Campus, BahrainEconomics and Finance Department, University of Bahrain, Sakhir Campus, BahrainEconomics and Finance Department, University of Bahrain, Sakhir Campus, BahrainEconomics and Finance Department, University of Bahrain, Sakhir Campus, Bahrain One of the major concerns for environmental quality improvement is to reduce reliance on fossil energy consumption. However, there is a possibility that economic developments like foreign direct investment (FDI), urbanization, innovation and renewable energy consumption can mitigate carbon emission and curb environmental quality issues. Hence this examines the impact of innovation, FDI, renewable energy consumption and urbanization on the environmental quality of 46 countries for the period of 1990-2021. The study employed pooled mean group auto regressive distributed lag stationarity estimator for the empirical results. The study findings depict that in the long run, trade openness and innovation positively influence environmental quality, whereas FDI does not significantly affect environmental quality deterioration. Renewable energy consumption plays an important role in relying on fossil energy consumption and reducing carbon emissions. This study gives insights into necessary policy endorsements for the sustainability of environment through innovation. https://econjournals.com./index.php/ijeep/article/view/17027Energy Efficiency, Climate Change, Environmental Quality, Financial Market |
| spellingShingle | Shrikant Krupasindhu Panigrahi Sumathi Kumaraswamy Sasikanta Tripathy Rabab Hasan Ebrahim Does Environmental Innovation, Foreign Direct Investment and Renewable Energy Consumption Curb Environmental Quality Issues? Evidence from PMG-ARDL Approach International Journal of Energy Economics and Policy Energy Efficiency, Climate Change, Environmental Quality, Financial Market |
| title | Does Environmental Innovation, Foreign Direct Investment and Renewable Energy Consumption Curb Environmental Quality Issues? Evidence from PMG-ARDL Approach |
| title_full | Does Environmental Innovation, Foreign Direct Investment and Renewable Energy Consumption Curb Environmental Quality Issues? Evidence from PMG-ARDL Approach |
| title_fullStr | Does Environmental Innovation, Foreign Direct Investment and Renewable Energy Consumption Curb Environmental Quality Issues? Evidence from PMG-ARDL Approach |
| title_full_unstemmed | Does Environmental Innovation, Foreign Direct Investment and Renewable Energy Consumption Curb Environmental Quality Issues? Evidence from PMG-ARDL Approach |
| title_short | Does Environmental Innovation, Foreign Direct Investment and Renewable Energy Consumption Curb Environmental Quality Issues? Evidence from PMG-ARDL Approach |
| title_sort | does environmental innovation foreign direct investment and renewable energy consumption curb environmental quality issues evidence from pmg ardl approach |
| topic | Energy Efficiency, Climate Change, Environmental Quality, Financial Market |
| url | https://econjournals.com./index.php/ijeep/article/view/17027 |
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