What derives renewable energy transition in G-7 and E-7 countries? The role of financial development and mineral markets

被引:109
作者
Irfan, Muhammad [1 ,2 ]
Rehman, Mubeen Abdur [3 ]
Razzaq, Asif [4 ]
Hao, Yu [5 ,6 ,7 ,8 ,9 ,10 ]
机构
[1] Beijing Technol & Business Univ, Sch Econ, Beijing 100048, Peoples R China
[2] Ilma Univ, Dept Business Adm, Karachi 75190, Pakistan
[3] Univ Lahore, Lahore Business Sch, Lahore, Pakistan
[4] CAREC Inst, Res Div, Urumqi 830000, Peoples R China
[5] Beijing Inst Technol, Sch Management & Econ, Beijing 100081, Peoples R China
[6] Beijing Inst Technol, Ctr Energy & Environm Policy Res, Beijing 100081, Peoples R China
[7] Beijing Key Lab Energy Econ & Environm Management, Beijing 100081, Peoples R China
[8] Sustainable Dev Res Inst Econ & Soc Beijing, Beijing 100081, Peoples R China
[9] Yangtze Delta Reg Acad Beijing Inst Technol, Jiaxing 314001, Peoples R China
[10] Beijing Inst Technol, Sch Management & Econ, 5 Zhongguancun South St, Beijing 100081, Peoples R China
关键词
Energy transition; Mineral markets; Financial development; Clean energy; Sustainability; ECONOMIC-GROWTH; CARBON EMISSIONS; RISK-ASSESSMENT; UNIT ROOTS; PANEL; CONSUMPTION; IMPACT; COINTEGRATION; MODELS; INCOME;
D O I
10.1016/j.eneco.2023.106661
中图分类号
F [经济];
学科分类号
02 ;
摘要
The enduring impact of the synergy between environmental sustainability and natural resources varies across countries depending on the economic structure. Though the transboundary effect of mineral resources and cleaner energy underlines the significance of environmental performance, this research aims to scrutinize this inclusive theme by investigating the dynamic effects of mineral markets, and financialization on energy transition in selected developed and developing countries from 1990 to 2019. The cross-sectional autoregressive distributive lags (CS-ARDL) model is applied to address slope heterogeneity and cross-sectional dependency. The empirical findings reveal that mineral markets significantly contribute to the energy transition process in accomplishing low-carbon power generation in G-7 countries. In contrast, financial development negatively influences energy transition; however, it has an insignificant effect on the E-7 countries. The study outcomes are verified by employing the augmented mean group (AMG) and common correlated effect mean group (CCEMG) estimators. These findings provide valuable policy recommendations for all stakeholders to drive the transition of renewable energy toward low carbon and green growth.
引用
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页数:14
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