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Exploring the role of renewable energy, urbanization and structural change for environmental sustainability: Comparative analysis for practical implications

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  • Cui, Lianbiao
  • Weng, Shimei
  • Nadeem, Abdul Majeed
  • Rafique, Muhammad Zahid
  • Shahzad, Umer

Abstract

Environmental sustainability has gained more importance in recent time to ensure socio-economic sustainability via healthy environment. Ecological footprint has also emerged as the central research area drawing attention of the scholars. However, there appears a gap in pointing out the significant factors that determine ecological footprint. The present investigation explores the relationship between economic complexity, human capital, renewable energy, urbanization, economic development, and ecological footprint in 20 countries divided into two panels (leading ten economic complex and renewable energy-consuming countries). The current study employ's panel data estimators, for instance, fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS) and the canonical cointegrating regression (CCR) long-run estimators to the period from 1980 - 2017. The results suggest that economic complexity, economic development, and urbanization raise the ecological footprint in both panels. Human capital and renewable energy induce ecological footprint, whereas renewable energy increases ecological footprint in the first panel. Based on empirical evidence, the study recommends the governments of these countries promote production processes that are friendlier to the environment and introduce greener technologies in exports for a drastic reduction in environmental pollution.

Suggested Citation

  • Cui, Lianbiao & Weng, Shimei & Nadeem, Abdul Majeed & Rafique, Muhammad Zahid & Shahzad, Umer, 2022. "Exploring the role of renewable energy, urbanization and structural change for environmental sustainability: Comparative analysis for practical implications," Renewable Energy, Elsevier, vol. 184(C), pages 215-224.
    • Handle: RePEc:eee:renene:v:184:y:2022:i:c:p:215-224
    DOI: 10.1016/j.renene.2021.11.075
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    More about this item

    Keywords

    Economic complexity; Human capital; Ecological footprint; Environmental degradation;
    All these keywords.

    JEL classification:

    • O33 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Technological Change: Choices and Consequences; Diffusion Processes
    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • Q53 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Air Pollution; Water Pollution; Noise; Hazardous Waste; Solid Waste; Recycling
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth

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