Assessment of the role of renewable energy consumption and trade policy on environmental degradation using innovation accounting: Evidence from the US

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dc.contributor.authorUsman, Ojonugwa
dc.contributor.authorAlola, Andrew Adewale
dc.contributor.authorSarkodie, Samuel Asumadu
dc.date.accessioned2020-05-18T21:14:41Z
dc.date.available2020-05-18T21:14:41Z
dc.date.issued2020en_US
dc.departmentİktisadi İdari ve Sosyal Bilimler Fakültesien_US
dc.descriptionDocument Information Language:English Accession Number: WOS:000518874500023en_US
dc.description.abstractRenewable energy technologies are promising, yet, very little is known about its role as a limiting factor in fossil fuel-attributable environmental degradation - especially in high-income countries. This study investigated the dynamic effect of renewable energy consumption, economic growth, biocapacity and trade policy on environmental degradation in the United States from 1985Q1 to 2014Q4. To achieve this objective, the study applied an autoregressive distributed lag (ARDL) model to obtain the long-run and short-run dynamic coefficients. Toda-Yamamoto causality test was used to examine the direction of causality while Cholesky decomposition test was for innovative accounting to validate the estimated models. The empirical results divulged that a decline in environmental degradation can be attributed to an increase in renewable energy consumption through its negative effects on ecological footprint. Economic growth and biocapacity were found to exert upward pressure on ecological footprint; however, trade policy exerts downward pressure on ecological footprint. A two-sided causal relationship was established between economic growth and ecological footprint as well as economic growth and biocapacity. In contrast, a one-way causality was confirmed running from trade policy to renewable energy consumption and from renewable energy consumption to biocapacity. The innovative accounting revealed that 14.79% and 8.41% of renewable energy consumption and trade policy caused 0.60% and 9.88% deterioration in the environment. Hence, country-specific energy policies that increase the share of renewable energy in the energy portfolio are recommended.en_US
dc.description.sponsorshipS.A.S acknowledges the financial support of Nord University Business School.en_US
dc.identifier.doi10.1016/j.renene.2019.12.151en_US
dc.identifier.endpage277en_US
dc.identifier.issn0960-1481
dc.identifier.scopus2-s2.0-85077380899en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage266en_US
dc.identifier.urihttps://hdl.handle.net/11363/2149
dc.identifier.urihttps://doi.org/
dc.identifier.volume150en_US
dc.identifier.wosWOS:000518874500023en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.language.isoenen_US
dc.publisherPERGAMON-ELSEVIER SCIENCE LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, ENGLANDen_US
dc.relation.ispartofRENEWABLE ENERGYen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectEcological footprinten_US
dc.subjectRenewable energy consumptionen_US
dc.subjectTrade policyen_US
dc.subjectInnovation accounting testsen_US
dc.subjectKUZNETS CURVE HYPOTHESISen_US
dc.subjectEMPIRICAL-EVIDENCEen_US
dc.subjectCO2 EMISSIONSen_US
dc.subjectCOINTEGRATIONen_US
dc.subjectTourismen_US
dc.subjectINCOMEen_US
dc.subjectSOCIAL SCIENCESen_US
dc.titleAssessment of the role of renewable energy consumption and trade policy on environmental degradation using innovation accounting: Evidence from the USen_US
dc.typeArticleen_US

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