Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests

Understanding the dynamic nexus between CO2 emissions and economic growth in the sustainable environment helps the economies in developing resources and formulating apposite energy policies. In the recent past, various studies have explored the nexus between CO2 emissions and economic growth. This s...

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Main Authors:	M., Waris, Panigrahi, Shrikant, Almuniri, Khamis Said Nasser, Soomro, Mujeeb Iqbal, Mirjat, Nayyar Hussain, Alqaydi, Eisa Salim
Format:	Article
Language:	English
Published:	MDPI AG 2019
Subjects:	TJ Mechanical engineering and machinery
Online Access:	http://umpir.ump.edu.my/id/eprint/25603/ http://umpir.ump.edu.my/id/eprint/25603/ http://umpir.ump.edu.my/id/eprint/25603/ http://umpir.ump.edu.my/id/eprint/25603/1/Investigating%20the%20Dynamic%20Impact%20of%20CO2%20Emissions.pdf

id	ump-25603
recordtype	eprints
spelling	ump-256032019-11-06T00:46:44Z http://umpir.ump.edu.my/id/eprint/25603/ Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests M., Waris Panigrahi, Shrikant Almuniri, Khamis Said Nasser Soomro, Mujeeb Iqbal Mirjat, Nayyar Hussain Alqaydi, Eisa Salim TJ Mechanical engineering and machinery Understanding the dynamic nexus between CO2 emissions and economic growth in the sustainable environment helps the economies in developing resources and formulating apposite energy policies. In the recent past, various studies have explored the nexus between CO2 emissions and economic growth. This study, however, investigates the nexus between renewable energy production, CO2 emissions, and economic growth over the period from 1995 to 2016 for seven Association of Southeast Asian Nations (ASEAN) countries. Fully Modified Ordinary Least Square (FMOLS) and Dynamic Ordinary Least Square (DOLS) methodologies were used to estimate the long- and short-run relationships. The panel results revealed that renewable energy production has a significant long term effect on CO2 emissions for Vietnam (t = −2.990), Thailand (t = −2.505), and Indonesia (t = −2.515), and economic growth impact for Malaysia (t = 2.050), Thailand (t = −2.001), and the Philippines (t = −2.710). It is, therefore, vital that the ASEAN countries implement policies and strategies that ensure energy saving and continuous economic growth without forsaking the environment. This study, as such, recommends that ASEAN countries should take measures to decrease the reliance on fossil fuels for achieving these objectives. Future research should consider the principles of circular economy and clean energy development mechanisms integrated with renewable energy technologies. MDPI AG 2019 Article PeerReviewed pdf en cc_by_4 http://umpir.ump.edu.my/id/eprint/25603/1/Investigating%20the%20Dynamic%20Impact%20of%20CO2%20Emissions.pdf M., Waris and Panigrahi, Shrikant and Almuniri, Khamis Said Nasser and Soomro, Mujeeb Iqbal and Mirjat, Nayyar Hussain and Alqaydi, Eisa Salim (2019) Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests. Processes, 7 (8). pp. 1-19. ISSN 2227-9717 https://doi.org/10.3390/pr7080496 https://doi.org/10.3390/pr7080496
repository_type	Digital Repository
institution_category	Local University
institution	Universiti Malaysia Pahang
building	UMP Institutional Repository
collection	Online Access
language	English
topic	TJ Mechanical engineering and machinery
spellingShingle	TJ Mechanical engineering and machinery M., Waris Panigrahi, Shrikant Almuniri, Khamis Said Nasser Soomro, Mujeeb Iqbal Mirjat, Nayyar Hussain Alqaydi, Eisa Salim Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests
description	Understanding the dynamic nexus between CO2 emissions and economic growth in the sustainable environment helps the economies in developing resources and formulating apposite energy policies. In the recent past, various studies have explored the nexus between CO2 emissions and economic growth. This study, however, investigates the nexus between renewable energy production, CO2 emissions, and economic growth over the period from 1995 to 2016 for seven Association of Southeast Asian Nations (ASEAN) countries. Fully Modified Ordinary Least Square (FMOLS) and Dynamic Ordinary Least Square (DOLS) methodologies were used to estimate the long- and short-run relationships. The panel results revealed that renewable energy production has a significant long term effect on CO2 emissions for Vietnam (t = −2.990), Thailand (t = −2.505), and Indonesia (t = −2.515), and economic growth impact for Malaysia (t = 2.050), Thailand (t = −2.001), and the Philippines (t = −2.710). It is, therefore, vital that the ASEAN countries implement policies and strategies that ensure energy saving and continuous economic growth without forsaking the environment. This study, as such, recommends that ASEAN countries should take measures to decrease the reliance on fossil fuels for achieving these objectives. Future research should consider the principles of circular economy and clean energy development mechanisms integrated with renewable energy technologies.
format	Article
author	M., Waris Panigrahi, Shrikant Almuniri, Khamis Said Nasser Soomro, Mujeeb Iqbal Mirjat, Nayyar Hussain Alqaydi, Eisa Salim
author_facet	M., Waris Panigrahi, Shrikant Almuniri, Khamis Said Nasser Soomro, Mujeeb Iqbal Mirjat, Nayyar Hussain Alqaydi, Eisa Salim
author_sort	M., Waris
title	Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests
title_short	Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests
title_full	Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests
title_fullStr	Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests
title_full_unstemmed	Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests
title_sort	investigating the dynamic impact of co2 emissions and economic growth on renewable energy production: evidence from fmols and dols tests
publisher	MDPI AG
publishDate	2019
url	http://umpir.ump.edu.my/id/eprint/25603/ http://umpir.ump.edu.my/id/eprint/25603/ http://umpir.ump.edu.my/id/eprint/25603/ http://umpir.ump.edu.my/id/eprint/25603/1/Investigating%20the%20Dynamic%20Impact%20of%20CO2%20Emissions.pdf
first_indexed	2023-09-18T22:39:24Z
last_indexed	2023-09-18T22:39:24Z
_version_	1777416813601095680

Investigating the Dynamic Impact of CO2 Emissions and Economic Growth on Renewable Energy Production: Evidence from FMOLS and DOLS Tests

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