Asymmetric impact of renewable and non-renewable energy on the industrial sector in Pakistan: Fresh evidence from Bayesian and nonlinear ARDL

被引:29
作者
Abbasi, Kashif Raza [1 ,2 ]
Hussain, Khadim [3 ]
Radulescu, Magdalena [4 ,5 ]
Ozturk, Ilhan [6 ,7 ]
机构
[1] Shanghai Univ, Sch Econ, 99 Shangda Rd,Baoshan Campus, Shanghai 200444, Peoples R China
[2] ILMA Univ, Fac Management Sci, Dept Business Adm, Karachi, Pakistan
[3] Mirpur Univ Sci & Technol MUST, Dept Econ, Mirpur 10250, Aj&k, Pakistan
[4] Univ Pitesti, Dept Finance Accounting & Econ, Str Targu Din Vale 1, Pitesti 110040, Arges, Romania
[5] Univ Lucian Blaga Sibiu, Doctoral Sch, Bd Victoriei 10, Sibiu 550024, Romania
[6] Cag Univ, Fac Econ & Adm Sci, Mersin, Turkey
[7] China Med Univ, China Med Univ Hosp, Dept Med Res, Taichung, Taiwan
关键词
Renewable energy; Non-renewable energy; Inflation; International trade; NARDL; ECONOMIC-GROWTH EVIDENCE; ELECTRICITY CONSUMPTION; TIME-SERIES; EMPIRICAL-EVIDENCE; CO2; EMISSIONS; EXCHANGE-RATE; OIL PRICES; UNIT-ROOT; COINTEGRATION; INFLATION;
D O I
10.1016/j.renene.2022.02.012
中图分类号
X [环境科学、安全科学];
学科分类号
08 ; 0830 ;
摘要
For the last two decades, Pakistan has faced various economic obstacles, the most significant of which is the sluggish pace of industrial expansion caused by the energy crisis. To close this gap, Pakistan's government has made several efforts to save energy and lower the country's power shortage in recent years. To bridge this gap, we concentrate on a few key drivers to demonstrate vibrant recommendations and evidence to policymakers. In this context, the study investigates the asymmetric relationship between renewable energy consumption (REC), non-renewable energy (NRE), terrorism, inflation, and international trade in the industrial sector from 1970 to 2018 in Pakistan. We employed a novel co-integration approach known as a Nonlinear Autoregressive Distributed Lag (NARDL) model with the Bayesian approach. The results show that the industrial sector is increasing due to positive shocks in REC, whereas negative shock in REC decreases significantly at a 5% level. Additionally, NRE, terrorism, and inflation are positive and have a long-term substantial effect on the industrial sector. The results suggest that the most effective strategy for Pakistan is to combat terrorism and vigorously promote renewable energy, highlighting its advantages to the environment and industrial development while avoiding non-renewable resources. (C) 2022 Elsevier Ltd. All rights reserved.
引用
收藏
页码:944 / 957
页数:14
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