Green energy transition in OECD region through the lens of economic complexity and environmental technology: A method of moments quantile regression perspective

被引:13
作者
Hossain, Mohammad Razib [1 ,2 ]
Dash, Devi Prasad [3 ]
Das, Narasingha [4 ,7 ]
Ullah, Ehsan [5 ]
Hossain, Md. Emran [6 ]
机构
[1] Univ Adelaide, Sch Econ & Publ Policy, Adelaide Business Sch, Adelaide, Australia
[2] Bangabandhu Sheikh Mujibur Rahman Agr Univ, Dept Agr Finance & Cooperat, Gazipur 1706, Bangladesh
[3] Indian Inst Technol Jodhpur, Sch Management & Entrepreneurship, Jodhpur 342030, Rajasthan, India
[4] Lebanese Amer Univ, Adnan Kassar Sch Business, Beirut, Lebanon
[5] Ural Fed Univ, Grad Sch Econ & Management, Ekaterinburg 620002, Russia
[6] Texas State Univ, Dept Agr Sci, San Marcos, TX 78666 USA
[7] European Univ Lefke, Adv Res Ctr, Northern Cyprus, Turkiye
关键词
Energy transition; Economic complexity index; Environmental technology; OECD nations; Renewable energy; Method of moments quantile regression; RENEWABLE ENERGY; CO2; EMISSIONS; EFFICIENCY; INNOVATIONS; INVESTMENT; GROWTH; TESTS;
D O I
10.1016/j.apenergy.2024.123235
中图分类号
TE [石油、天然气工业]; TK [能源与动力工程];
学科分类号
0807 ; 0820 ;
摘要
Despite having multidimensional positive externalities of renewable energy (RE) in theory, the literature on RE's economic and environmental determinants is still very nascent. We have addressed this research gap by considering a balanced panel of 38 OECD nations attempting a phase-by-phase energy transition. We have used data spanning from 2000 to 2020 and deployed the novel method of moments quantile regression (MMQR) approach. Our results unveil that economic complexity reduces the consumption of renewable energy among the OECD nations, indicating that as the export becomes diversified, energy consumption at the production level becomes more dependent on non-renewable sources. This further suggests that OECD nations are yet to meet their renewable energy generation threshold. Moreover, energy efficiency fosters the consumption of renewable energy, substantiating that energy efficiency and renewable energy share complementary co-movement among the OECD nations. Furthermore, we unravel that environmental technology and natural resource rent have heterogeneous effects on renewable energy consumption in OECD. For instance, environmental technology only boosts RE consumption at the higher quantiles (70th to 95th), whereas revenue from natural resource rent curbs RE consumption. Our conclusions hold after a series of robustness checks. Overall, we propose that OECD nations should only export those products with absolute comparative advantage to reduce excessive dependence on fossils. Additionally, investment in renewable energy technology development should be escalated to ensure energy efficiency in the long-term.
引用
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页数:13
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