Renewable and non-renewable energy policy simulations for abating emissions in a complex economy: Evidence from the novel dynamic ARDL
Yükleniyor...
Tarih
2021
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
PERGAMON-ELSEVIER SCIENCE LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, ENGLAND
Erişim Hakkı
info:eu-repo/semantics/openAccess
Attribution-NonCommercial-NoDerivs 3.0 United States
Attribution-NonCommercial-NoDerivs 3.0 United States
Özet
According to the Economic Complexity Index, Japan was the number 1 most complex economy in the world. In addition to complexity, Japan pledges to reduce emissions by boosting cleaner energy sources. This study simulates two policies to highlight a path for Japan in achieving this ambitious energy and environmental target. The novel dynamic autoregressive distribution lag (ARDL) model and Kernel-based regularized least squares (KRLS) are adopted over panel data from 1970 to 2018. Empirical evidence from the ARDL and dynamic ARDL models shows that CO2 emissions have a significant long-term relationship with GDP per capita, renewable energy, and economic complexity index while air transport is significant in the short run. Putting it more elaborately, a unit increase in GDP per capita increase the emission by 0.84%e0.96% in the long run and 0.46%e0.48% in the short run. As regards renewable energy, a unit increase in it decrease the carbon emission by 0.07% and 0.04% in the long-run and short-run respectively. Also, an increase in the economic index diminished the emission by 0.81% in the long run. Moreover, economic complexity moderates the role of GDP in environmental degradation as it also has a significant impact on carbon emission.
Açıklama
Anahtar Kelimeler
Economic complexities, CO2 emissions, Novel dynamic ARDL, Renewable energy, Coal energy, Japan
Kaynak
Renewable Energy
WoS Q Değeri
Q1
Scopus Q Değeri
Q1
Cilt
177
