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Investigating the role of export product diversification for renewable, and non-renewable energy consumption in GCC (gulf cooperation council) countries: does the Kuznets hypothesis exist?

This study explores the effects of renewable and nonrenewable energy demand on export product diversification, economic growth, natural resources, human capital, and trade in GCC (Gulf Cooperation Council) countries using data of six countries from 1990 to 2019. The empirical analysis integrates the...

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Autores principales: Fatima, Tehreem, Mentel, Grzegorz, Doğan, Buhari, Hashim, Zeeshan, Shahzad, Umer
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Netherlands 2021
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8403254/
https://www.ncbi.nlm.nih.gov/pubmed/34483715
http://dx.doi.org/10.1007/s10668-021-01789-z
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author Fatima, Tehreem
Mentel, Grzegorz
Doğan, Buhari
Hashim, Zeeshan
Shahzad, Umer
author_facet Fatima, Tehreem
Mentel, Grzegorz
Doğan, Buhari
Hashim, Zeeshan
Shahzad, Umer
author_sort Fatima, Tehreem
collection PubMed
description This study explores the effects of renewable and nonrenewable energy demand on export product diversification, economic growth, natural resources, human capital, and trade in GCC (Gulf Cooperation Council) countries using data of six countries from 1990 to 2019. The empirical analysis integrates the panel unit root tests (IPS and CIPS), panel quantile regression, and fully modified OLS models. The empirical results confirm that there exists a significant negative relationship between renewable energy and export diversification; signifying that diversification of products will reduce renewable energy. Similarly, when compared to the square of export product diversification, it shows a positive and significant correlation. The empirical findings highlighted the presence of Kuznets's hypothesis between export product diversification, renewable, and non-renewable energy consumption. Furthermore, the findings suggest that natural resources and economic growth may increase overall energy consumption in GCC countries. It implies an important policy suggestion that encouraging export diversification will reduce GCC countries' reliance on oil to meet energy demand.
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spelling pubmed-84032542021-08-30 Investigating the role of export product diversification for renewable, and non-renewable energy consumption in GCC (gulf cooperation council) countries: does the Kuznets hypothesis exist? Fatima, Tehreem Mentel, Grzegorz Doğan, Buhari Hashim, Zeeshan Shahzad, Umer Environ Dev Sustain Article This study explores the effects of renewable and nonrenewable energy demand on export product diversification, economic growth, natural resources, human capital, and trade in GCC (Gulf Cooperation Council) countries using data of six countries from 1990 to 2019. The empirical analysis integrates the panel unit root tests (IPS and CIPS), panel quantile regression, and fully modified OLS models. The empirical results confirm that there exists a significant negative relationship between renewable energy and export diversification; signifying that diversification of products will reduce renewable energy. Similarly, when compared to the square of export product diversification, it shows a positive and significant correlation. The empirical findings highlighted the presence of Kuznets's hypothesis between export product diversification, renewable, and non-renewable energy consumption. Furthermore, the findings suggest that natural resources and economic growth may increase overall energy consumption in GCC countries. It implies an important policy suggestion that encouraging export diversification will reduce GCC countries' reliance on oil to meet energy demand. Springer Netherlands 2021-08-29 2022 /pmc/articles/PMC8403254/ /pubmed/34483715 http://dx.doi.org/10.1007/s10668-021-01789-z Text en © The Author(s), under exclusive licence to Springer Nature B.V. 2021 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Article
Fatima, Tehreem
Mentel, Grzegorz
Doğan, Buhari
Hashim, Zeeshan
Shahzad, Umer
Investigating the role of export product diversification for renewable, and non-renewable energy consumption in GCC (gulf cooperation council) countries: does the Kuznets hypothesis exist?
title Investigating the role of export product diversification for renewable, and non-renewable energy consumption in GCC (gulf cooperation council) countries: does the Kuznets hypothesis exist?
title_full Investigating the role of export product diversification for renewable, and non-renewable energy consumption in GCC (gulf cooperation council) countries: does the Kuznets hypothesis exist?
title_fullStr Investigating the role of export product diversification for renewable, and non-renewable energy consumption in GCC (gulf cooperation council) countries: does the Kuznets hypothesis exist?
title_full_unstemmed Investigating the role of export product diversification for renewable, and non-renewable energy consumption in GCC (gulf cooperation council) countries: does the Kuznets hypothesis exist?
title_short Investigating the role of export product diversification for renewable, and non-renewable energy consumption in GCC (gulf cooperation council) countries: does the Kuznets hypothesis exist?
title_sort investigating the role of export product diversification for renewable, and non-renewable energy consumption in gcc (gulf cooperation council) countries: does the kuznets hypothesis exist?
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8403254/
https://www.ncbi.nlm.nih.gov/pubmed/34483715
http://dx.doi.org/10.1007/s10668-021-01789-z
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