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Do Renewable Energy and the Real Estate Market Promote Environmental Quality in South Africa: Evidence from the Bootstrap ARDL Approach

Author

Listed:
  • Atif Jahanger

    (School of Economics, Hainan University, Haikou 570228, China
    Institute of Open Economy, Haikou 570228, China)

  • Daniel Balsalobre-Lorente

    (Department of Political Economy and Public Finance, Economic and Business Statistics and Economic Policy, University of Castilla-La Mancha, 13071 Ciudad Real, Spain
    Department of Applied Economics, University of Alicante, 03690 Alicante, Spain)

  • Ahmed Samour

    (Accounting Department, Dhofar University, Salalah 211, Oman)

  • Foday Joof

    (Centre for Financial Regulation and Risk Management, Banking and Finance Department, Eastern Mediterranean University, North Cyprus 34325, Turkey)

  • Mumtaz Ali

    (Banking and Finance Department, Near East University, North Cyprus 99040, Turkey)

  • Turgut Tursoy

    (Banking and Finance Department, Near East University, North Cyprus 99040, Turkey)

Abstract

Recent empirical research indicates that South Africa’s present level of wealth and energy, given its fast-expanding population, is unsustainable. Studies in this domain focus on the impact of economic growth and energy use on environmental quality; the role of the real estate market on environmental quality in South Africa is ignored in the emerging literature. The current study aims to deliver a fresh empirical analysis in this context by analyzing the impact of South Africa’s real estate sector expansion and renewable energy sources on carbon emissions. Using the newly developed “bootstrap autoregressive distributed lag (ARDL) approach”, the results of the empirical investigation showed that renewable energy improves South Africa’s environmental quality. The current research also shows that the South African real estate industry has a negative impact on the environment. According to the current research, South African policymakers should create new regulations for the sustainable real estate sector to improve environmental quality by encouraging the usage of and investment in renewable energy.

Suggested Citation

  • Atif Jahanger & Daniel Balsalobre-Lorente & Ahmed Samour & Foday Joof & Mumtaz Ali & Turgut Tursoy, 2022. "Do Renewable Energy and the Real Estate Market Promote Environmental Quality in South Africa: Evidence from the Bootstrap ARDL Approach," Sustainability, MDPI, vol. 14(24), pages 1-17, December.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:24:p:16466-:d:997956
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    1. Zhao, Wen-Xuan & Samour, Ahmed & Yi, Kefu & Al-Faryan, Mamdouh Abdulaziz Saleh, 2023. "Do technological innovation, natural resources and stock market development promote environmental sustainability? Novel evidence based on the load capacity factor," Resources Policy, Elsevier, vol. 82(C).
    2. Joof, Foday & Samour, Ahmed & Ali, Mumtaz & Tursoy, Turgut & Haseeb, Mohammad & Hossain, Md. Emran & Kamal, Mustafa, 2023. "Symmetric and asymmetric effects of gold, and oil price on environment: The role of clean energy in China," Resources Policy, Elsevier, vol. 81(C).

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