Cargando…

The simultaneous impact of education and financial development on renewable energy consumption: an investigation of Next-11 countries

The use of fossil fuels is a primary source of global warming owing to the greenhouse effect. Renewable energy is the best alternative environment-friendly energy source. Previous studies have highlighted the significant influence of financial development and education on renewable energy. However,...

Descripción completa

Detalles Bibliográficos
Autores principales: Wang, Zhaohua, Le Hoa Pham, Thi, Wang, Bo, Hashemizadeh, Ali, Bui, Quocviet, Nawarathna, Chulan Lasantha Kukule
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9263043/
https://www.ncbi.nlm.nih.gov/pubmed/35799003
http://dx.doi.org/10.1007/s11356-022-21330-7
_version_ 1784742636708429824
author Wang, Zhaohua
Le Hoa Pham, Thi
Wang, Bo
Hashemizadeh, Ali
Bui, Quocviet
Nawarathna, Chulan Lasantha Kukule
author_facet Wang, Zhaohua
Le Hoa Pham, Thi
Wang, Bo
Hashemizadeh, Ali
Bui, Quocviet
Nawarathna, Chulan Lasantha Kukule
author_sort Wang, Zhaohua
collection PubMed
description The use of fossil fuels is a primary source of global warming owing to the greenhouse effect. Renewable energy is the best alternative environment-friendly energy source. Previous studies have highlighted the significant influence of financial development and education on renewable energy. However, the simultaneous effects of these two factors on renewable energy have rarely been examined, especially in emerging economies. This study employed dynamic seemingly unrelated cointegrating regression and the Dumitrescu–Hurlin causality test to analyze the effect of education and financial development on renewable energy consumption in N-11 countries during 1990–2016. Empirical results show that financial development significantly increased renewable energy use; however, education failed to make a positive difference. Additionally, bidirectional- and unidirectional causality was observed for financial development and education, respectively, toward renewable energy. This suggests that policymakers should combine financial development policies with education to improve the efficiency of renewable energy use.
format Online
Article
Text
id pubmed-9263043
institution National Center for Biotechnology Information
language English
publishDate 2022
publisher Springer Berlin Heidelberg
record_format MEDLINE/PubMed
spelling pubmed-92630432022-07-08 The simultaneous impact of education and financial development on renewable energy consumption: an investigation of Next-11 countries Wang, Zhaohua Le Hoa Pham, Thi Wang, Bo Hashemizadeh, Ali Bui, Quocviet Nawarathna, Chulan Lasantha Kukule Environ Sci Pollut Res Int Research Article The use of fossil fuels is a primary source of global warming owing to the greenhouse effect. Renewable energy is the best alternative environment-friendly energy source. Previous studies have highlighted the significant influence of financial development and education on renewable energy. However, the simultaneous effects of these two factors on renewable energy have rarely been examined, especially in emerging economies. This study employed dynamic seemingly unrelated cointegrating regression and the Dumitrescu–Hurlin causality test to analyze the effect of education and financial development on renewable energy consumption in N-11 countries during 1990–2016. Empirical results show that financial development significantly increased renewable energy use; however, education failed to make a positive difference. Additionally, bidirectional- and unidirectional causality was observed for financial development and education, respectively, toward renewable energy. This suggests that policymakers should combine financial development policies with education to improve the efficiency of renewable energy use. Springer Berlin Heidelberg 2022-07-07 2022 /pmc/articles/PMC9263043/ /pubmed/35799003 http://dx.doi.org/10.1007/s11356-022-21330-7 Text en © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2022 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 Research Article
Wang, Zhaohua
Le Hoa Pham, Thi
Wang, Bo
Hashemizadeh, Ali
Bui, Quocviet
Nawarathna, Chulan Lasantha Kukule
The simultaneous impact of education and financial development on renewable energy consumption: an investigation of Next-11 countries
title The simultaneous impact of education and financial development on renewable energy consumption: an investigation of Next-11 countries
title_full The simultaneous impact of education and financial development on renewable energy consumption: an investigation of Next-11 countries
title_fullStr The simultaneous impact of education and financial development on renewable energy consumption: an investigation of Next-11 countries
title_full_unstemmed The simultaneous impact of education and financial development on renewable energy consumption: an investigation of Next-11 countries
title_short The simultaneous impact of education and financial development on renewable energy consumption: an investigation of Next-11 countries
title_sort simultaneous impact of education and financial development on renewable energy consumption: an investigation of next-11 countries
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9263043/
https://www.ncbi.nlm.nih.gov/pubmed/35799003
http://dx.doi.org/10.1007/s11356-022-21330-7
work_keys_str_mv AT wangzhaohua thesimultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT lehoaphamthi thesimultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT wangbo thesimultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT hashemizadehali thesimultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT buiquocviet thesimultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT nawarathnachulanlasanthakukule thesimultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT wangzhaohua simultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT lehoaphamthi simultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT wangbo simultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT hashemizadehali simultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT buiquocviet simultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries
AT nawarathnachulanlasanthakukule simultaneousimpactofeducationandfinancialdevelopmentonrenewableenergyconsumptionaninvestigationofnext11countries