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Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT

The importance of Renewable energy has been well documented in the literature, especially in the nexus of renewable energy-led environmental sustainability. The purpose of the study is to gauge the effects of green investment (GI), technological innovation (TI), and financial Openness (FO) on Renewa...

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Autores principales: Qamruzzaman, Md, Karim, Salma
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier 2023
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10628657/
https://www.ncbi.nlm.nih.gov/pubmed/37942145
http://dx.doi.org/10.1016/j.heliyon.2023.e21083
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author Qamruzzaman, Md
Karim, Salma
author_facet Qamruzzaman, Md
Karim, Salma
author_sort Qamruzzaman, Md
collection PubMed
description The importance of Renewable energy has been well documented in the literature, especially in the nexus of renewable energy-led environmental sustainability. The purpose of the study is to gauge the effects of green investment (GI), technological innovation (TI), and financial Openness (FO) on Renewable Energy Consumption (REC) in MINT for the period 1996–2019. Several econometric tools have been considered in documenting the target nexus, including the panel unit root test following CADF and CIPS, Error correction Cointegration test, CS-ARDL, nonlinear ARDL, and directional causality test by employing the D-H Causality test. The panel unit root test revealed that all the variables become stationary after the first difference. The long-run association in the target model is unveiled with the panel cointegration test. A positive and statistically significant connection regarding FO, TI, and GI coefficients on REC has been exposed. It suggests that the progress in RE development and inclusion in economic activities could be amplified through FO, TI, and GI. Inferring the results of asymmetric valuation, the test statistics of a standard Wald test document asymmetric association in the long run and short run. Furthermore, the coefficients of positive and negative innovation in explanatory variables, i.e., TI, GI, & FO, divulge a positive statistically significant tie to REC, which is valid in long-run and short-run assessment.
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spelling pubmed-106286572023-11-08 Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT Qamruzzaman, Md Karim, Salma Heliyon Research Article The importance of Renewable energy has been well documented in the literature, especially in the nexus of renewable energy-led environmental sustainability. The purpose of the study is to gauge the effects of green investment (GI), technological innovation (TI), and financial Openness (FO) on Renewable Energy Consumption (REC) in MINT for the period 1996–2019. Several econometric tools have been considered in documenting the target nexus, including the panel unit root test following CADF and CIPS, Error correction Cointegration test, CS-ARDL, nonlinear ARDL, and directional causality test by employing the D-H Causality test. The panel unit root test revealed that all the variables become stationary after the first difference. The long-run association in the target model is unveiled with the panel cointegration test. A positive and statistically significant connection regarding FO, TI, and GI coefficients on REC has been exposed. It suggests that the progress in RE development and inclusion in economic activities could be amplified through FO, TI, and GI. Inferring the results of asymmetric valuation, the test statistics of a standard Wald test document asymmetric association in the long run and short run. Furthermore, the coefficients of positive and negative innovation in explanatory variables, i.e., TI, GI, & FO, divulge a positive statistically significant tie to REC, which is valid in long-run and short-run assessment. Elsevier 2023-10-16 /pmc/articles/PMC10628657/ /pubmed/37942145 http://dx.doi.org/10.1016/j.heliyon.2023.e21083 Text en © 2023 The Authors https://creativecommons.org/licenses/by/4.0/This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
spellingShingle Research Article
Qamruzzaman, Md
Karim, Salma
Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT
title Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT
title_full Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT
title_fullStr Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT
title_full_unstemmed Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT
title_short Clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in MINT
title_sort clarifying the relationship between green investment, technological innovation, financial openness, and renewable energy consumption in mint
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC10628657/
https://www.ncbi.nlm.nih.gov/pubmed/37942145
http://dx.doi.org/10.1016/j.heliyon.2023.e21083
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