Time and frequency-based effect of energy-related R&D investments on power sector CO2 emissions: evidence from leading R&D investing countries by WLMC approach

被引:2
作者
Kartal, Mustafa Tevfik [1 ,2 ,3 ,4 ,5 ,6 ,7 ]
Taskin, Dilvin [8 ,9 ]
Hunjra, Ahmed Imran [6 ,10 ]
机构
[1] European Univ Lefke, Dept Finance & Banking, Lefke, Northern Cyprus, Turkiye
[2] Azerbaijan State Univ Econ UNEC, Clin Econ, Baku, Azerbaijan
[3] Korea Univ, Dept Econ, Seoul, South Korea
[4] Gulf Univ Sci & Technol, GUST Ctr Sustainable Dev, Hawally, Kuwait
[5] Czech Univ Life Sci Prague, Dept Trade & Finance, Prague, Czech Republic
[6] Khazar Univ, Res Ctr Sustainable Econ Dev, Baku, Azerbaijan
[7] Lebanese Amer Univ, Adnan Kassar Sch Business, Beirut, Lebanon
[8] Yasar Univ, Dept Int Trade & Finance, Izmir, Turkiye
[9] Western Caspian Univ, Econ Res Ctr WCERC, Baku, Azerbaijan
[10] IPAG Business Sch, Paris, France
关键词
Power sector CO2 emissions; R&D investments; Leading R&D investing countries; WLMC approach; INNOVATION;
D O I
10.1007/s11869-024-01641-z
中图分类号
X [环境科学、安全科学];
学科分类号
08 ; 0830 ;
摘要
Environmental pollution has become highly important for countries and societies because climate change and global warming are stimulated by increasing carbon dioxide (CO2) emissions. Hence, all related parties have been searching for solutions. Considering the high role of energy use in causing CO2 emissions, energy-related research and development (R&D) investments are considered a strategic tool to curb the emissions. Accordingly, the study analyzes the effect of energy-related R&D investments on power sector CO2 emissions. In doing so, the study examines leading R&D investing countries (namely, Canada-CAN; Switzerland-CHE; Germany-DEU; France-FRA; Japan-JPN; Norway-NOR; United States-USA), considering three R&D investment sub-types (i.e., energy efficiency R&D investments-EEF; renewable energy R&D investments-RRD; nuclear energy R&D investments-NRD), uses data from 1985/Q1 to 2022/Q4, and performs Wavelet Local Multiple Correlation (WLMC) approach to analyze over times and frequencies. The results show that (i) the effects of R&D investments are weak (strong) at lower (higher) frequencies; (ii) the effects of R&D investments vary based on times, frequencies, and countries; (iii) the most dominant R&D type is EEF (CHE, DEU, FRA, & JPN), RRD (CAN & NOR), and NRD (USA); (iv) there is an important externality among R&D types. Thus, the findings reveal the time, frequency, and country-based varying effect of R&D investments on power sector CO2 emissions implying a need for comprehensively balanced planning for R&D investments. Hence, the countries should take the highly effective R&D investment types in combating power sector CO2 emissions, allocate further budget to the effective ones, and re-consider the budget distribution among the R&D types.
引用
收藏
页码:273 / 291
页数:19
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