How Do Renewable Energy, Economic Growth and Natural Resources Rent Affect Environmental Sustainability in a Globalized Economy? Evidence From Colombia Based on the Gradual Shift Causality Approach

Frontiers in Energy Research

Energy Research

Zahoor Ahmed¹  Abraham Ayobamiji Awosusi²  Stephen Taiwo Onifade³  Mário Nuno Mata⁴  José Moleiro Martins⁵  Manuel Francisco Coelho⁶  Jéssica Nunes Martins⁷  Mehmet Altuntaş⁸ 

[1] Department of Business Administration, Faculty of Management Sciences, ILMA University, Karachi, Pakistan;Department of Economics, School of Business, AKFA University, Tashkent, Uzbekistan;School of Management and Economics, Beijing Institute of Technology, Beijing, China;Faculty of Economics and Administrative Science, Department of Economics, Near East University, Nicosia, Cyprus;Faculty of Economics and Administrative Sciences, Department of Economics, Selcuk University, Konya, Turkey;Faculty of Economics and Administrative Sciences, Department of International Trade and Logistics, KTO Karatay University, Konya, Turkey;ISCAL-Instituto Superior de Contabilidade e Administração de Lisboa, Instituto Politécnico de Lisboa, Lisbon, Portugal;ISCAL-Instituto Superior de Contabilidade e Administração de Lisboa, Instituto Politécnico de Lisboa, Lisbon, Portugal;Instituto Universitário de Lisboa (ISCTE-IUL), Business Research Unit (BRU-IUL), Lisbon, Portugal;Instituto Superior de Economia e Gestão/Universidade de Lisboa, Lisboa, Portugal;SOCIUS/ISEG Centro de Investigação em Sociologia Económica e das Organizações, Lisboa, Portugal;Instituto Universitário de Lisboa (ISCTE-IUL), Lisbon, Portugal;BPI-Banco Portugês de Investimento-CaixaBank Group, Accounting Department, Lisboa, Portugal;Nisantasi University, Faculty of Economics, Administrative and Social Sciences, Department of Economics, Istanbul, Turkey;

关键词: environmental sustainability;    Colombia;    globalization;    renewable energy;    CO emissions;    gradual shift causality test;   

DOI  :  10.3389/fenrg.2021.739721

 received in 2021-07-11, accepted in 2021-12-02,  发布年份 2022

来源: Frontiers

【 摘 要 】

Undoubtedly, fossil fuel energy consumption causes global warming. The question at the core is whether or not we want to quit energy consumption? The obvious answer to this question is “no.” Therefore, the necessity for innovation is curial to attain green energy and sustainable growth. This research specifically focused on Colombia, which represents the aforementioned threats to a large extent as the trajectory of economic expansion is characterized by significant CO2 emissions in Colombia. In this regard, we examine the association between globalization, renewable energy, natural resources rent, economic growth, and CO2 emissions from 1970 to 2017. The cointegration test confirmed a long association between the considered variables. This study employed the Fully Modified Ordinary Least Squares, Dynamic Ordinary Least Squares, and Autoregressive Distributed Lag estimators for the long-run analysis. The long-run empirical results uncovered growth-induced emissions in Colombia. The result illustrated that the path of development is unsustainable in Columbia. In contrast, globalization and renewable energy demonstrated a favorable contribution to environmental quality. The outcomes of the Gradual Shift Causality indicated that globalization, natural resource rent, and economic growth Granger cause CO2 emissions. The findings highlight the need to enact well-coordinated measures to reduce environmental deterioration in Colombia. Colombia must aggressively promote the development of renewable energy and also foster a better viable environment for renewable energy investment to mitigate environmental damage caused by economic growth.

【 授权许可】

Unknown   
Copyright © 2022 Awosusi, Mata, Ahmed, Coelho, Altuntaş, Martins, Martins and Onifade.

【 图 表 】

FEART_feart-2023-1144151_wc_tfx3.tif