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Nuclear Energy and Financial Development for a Clean Environment: Examining the N-Shaped Environmental Kuznets Curve Hypothesis in Top Nuclear Energy-Consuming Countries

Author

Listed:
  • Bartosz Jóźwik

    (Department of International Economics, The John Paul II Catholic University of Lublin, 20-950 Lublin, Poland)

  • Samet Gürsoy

    (Department of Customs Business Administration, Burdur Mehmet Akif Ersoy University, 15300 Burdur, Turkey)

  • Mesut Doğan

    (Department of Banking and Finance, Bilecik Seyh Edebali University, 11210 Bilecik, Turkey)

Abstract

This research aims to reassess the impact of nuclear energy consumption and financial development on environmental quality using annual data from 1993 to 2019 for 11 countries with the highest nuclear energy consumption. Additionally, the study seeks to test the validity of the N-shaped EKC hypothesis. The findings of this study indicate a long-term cointegration relationship between the variables. According to the PCSE model results, increased nuclear energy consumption among the top 11 countries leads to decreased carbon emissions. Furthermore, the study reveals an N-shaped relationship between economic growth and environmental degradation. There is a strong recommendation for enhancing investments and grants directed towards research and development endeavours to identify and implement innovative solutions to reduce carbon emissions and improve environmental quality, particularly in less technologically advanced countries. Such efforts could include allocating more substantial funding to new technologies and encouraging collaborations between academic institutions and industry. Furthermore, considering regulatory adjustments like the liberalization of the energy market with the pro-ecological initiatives mainly carried out by public utilities is crucial as part of a comprehensive strategy to address environmental challenges.

Suggested Citation

  • Bartosz Jóźwik & Samet Gürsoy & Mesut Doğan, 2023. "Nuclear Energy and Financial Development for a Clean Environment: Examining the N-Shaped Environmental Kuznets Curve Hypothesis in Top Nuclear Energy-Consuming Countries," Energies, MDPI, vol. 16(22), pages 1-14, November.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:22:p:7494-:d:1276483
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    References listed on IDEAS

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