Do renewable energy and globalization enhance ecological footprint: an analysis of top renewable energy countries?
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RESEARCH ARTICLE
Do renewable energy and globalization enhance ecological footprint: an analysis of top renewable energy countries? Mohd Arshad Ansari 1
&
Salman Haider 1 & Tariq Masood 2
Received: 11 June 2020 / Accepted: 9 September 2020 # Springer-Verlag GmbH Germany, part of Springer Nature 2020
Abstract This paper aims at estimating the dynamic impact of renewable and non-renewable energy consumption, globalization, urbanization, and economic growth on the environmental quality. Unlike previous study, this study used multi-dimensional indicator of environmental quality that is ecological footprint. Given the importance of renewable energy, a sample of top renewable energy consuming countries has been selected for analysis spanning the period 1991–2016. The analysis is carried out in panel data framework that considers the issues of cross sectional dependence and heterogeneity. The results of cointegration test show the existence of long-run equilibrium relationship among the variables. The long-run elasticity of pooled mean group shows positive impact of economic growth and non-renewable energy consumption on ecological footprint while negative impact is observed in case of renewable energy consumption, globalization and urbanization. The sensitivity of long-run elasticity has been checked with the help of fully modified ordinary least square and dynamic ordinary least square. Based on empirical findings, some policy implication has also been provided. Keywords Ecological footprint . Renewable energy . Globalization . Heterogeneity . Cross-sectional dependence JEL classification Q2 Q57 Q4 F6
Introduction Economic development and process of industrialization have led to humongous consumption of fossil-fuel energy. At present, globalized world economy is heavily dependent on energy input for every aspect of the economic and non-economic activity. It creates the problem of energy security and sustainable development simultaneously generated a large chunk of Responsible editor: Nicholas Apergis * Mohd Arshad Ansari [email protected] Salman Haider [email protected] Tariq Masood [email protected] 1
School of Economics, University of Hyderabad, Gachibowli, Hyderabad, Telangana 500046, India
2
Faculty of Department of West Asian and North African Studies, Aligarh Muslim University, Aligarh 202002, UP, India
green house gas emission (GHG). Future forecast shows a large increase in energy demand. Under the evolving transition (ET) scenario1, the global energy demand (GED) will continue to grow by around a third by 2040 which means GED will slow the pace of growth as compared with the previous 25 years. This is largely attributed to a steady decline in the energy-intensity level (BP Global 2018). A major portion of GED comes from fast-growing emerging market economies (EMEs) largely contributed by China, India, and other developing countries as it has a two-thirds share in the growth of GED (BP Global 2018). Over a decade, there has happened a big structural shift in sources of energy composition. Fo
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