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The environmental aspects of renewable energy consumption and structural change in Sweden: A new perspective from wavelet-based granger causality approach

The current paper assessed the time-frequency analysis interrelationship between CO(2) emissions and financial development, economic growth, renewable energy use, structural change, and non-renewable energy use in Sweden. We utilized a quarterly dataset stretching from 1980-2019. In order to unlock...

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Detalles Bibliográficos
Autores principales: Adebayo, Tomiwa Sunday, Ibrahim, Ridwan Lanre, Agyekum, Ephraim Bonah, Zawbaa, Hossam M., Kamel, Salah
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9519488/
https://www.ncbi.nlm.nih.gov/pubmed/36185131
http://dx.doi.org/10.1016/j.heliyon.2022.e10697
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author Adebayo, Tomiwa Sunday
Ibrahim, Ridwan Lanre
Agyekum, Ephraim Bonah
Zawbaa, Hossam M.
Kamel, Salah
author_facet Adebayo, Tomiwa Sunday
Ibrahim, Ridwan Lanre
Agyekum, Ephraim Bonah
Zawbaa, Hossam M.
Kamel, Salah
author_sort Adebayo, Tomiwa Sunday
collection PubMed
description The current paper assessed the time-frequency analysis interrelationship between CO(2) emissions and financial development, economic growth, renewable energy use, structural change, and non-renewable energy use in Sweden. We utilized a quarterly dataset stretching from 1980-2019. In order to unlock these interrelationships, we leverage wavelet tools (wavelet-based Granger causality and wavelet coherence). The wavelet-based Granger causality (WGC) test accounts for the issue of multiple time scales in a time series analysis. Another uniqueness of the WGC lies in its resistance to distribution assumption and misspecification in a time series model. Additionally, the wavelet coherence estimator instantaneously evaluates correlation and causality among the interacting indicators in a model. The outcomes of the wavelet coherence exposed that renewable energy, financial development, economic growth, structural change, and trade openness enhance the environment's quality while non-renewable energy intensifies CO(2). Moreover, the WGC shows that all the variables can predict each other. Based on these findings, policymakers in Sweden should focus more on improving public understanding of renewable energy and environmental preservation. We believe that Sweden's shift to service-sector-led growth will help to safeguard the environment.
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spelling pubmed-95194882022-09-30 The environmental aspects of renewable energy consumption and structural change in Sweden: A new perspective from wavelet-based granger causality approach Adebayo, Tomiwa Sunday Ibrahim, Ridwan Lanre Agyekum, Ephraim Bonah Zawbaa, Hossam M. Kamel, Salah Heliyon Research Article The current paper assessed the time-frequency analysis interrelationship between CO(2) emissions and financial development, economic growth, renewable energy use, structural change, and non-renewable energy use in Sweden. We utilized a quarterly dataset stretching from 1980-2019. In order to unlock these interrelationships, we leverage wavelet tools (wavelet-based Granger causality and wavelet coherence). The wavelet-based Granger causality (WGC) test accounts for the issue of multiple time scales in a time series analysis. Another uniqueness of the WGC lies in its resistance to distribution assumption and misspecification in a time series model. Additionally, the wavelet coherence estimator instantaneously evaluates correlation and causality among the interacting indicators in a model. The outcomes of the wavelet coherence exposed that renewable energy, financial development, economic growth, structural change, and trade openness enhance the environment's quality while non-renewable energy intensifies CO(2). Moreover, the WGC shows that all the variables can predict each other. Based on these findings, policymakers in Sweden should focus more on improving public understanding of renewable energy and environmental preservation. We believe that Sweden's shift to service-sector-led growth will help to safeguard the environment. Elsevier 2022-09-20 /pmc/articles/PMC9519488/ /pubmed/36185131 http://dx.doi.org/10.1016/j.heliyon.2022.e10697 Text en © 2022 Published by Elsevier Ltd. https://creativecommons.org/licenses/by-nc-nd/4.0/This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
spellingShingle Research Article
Adebayo, Tomiwa Sunday
Ibrahim, Ridwan Lanre
Agyekum, Ephraim Bonah
Zawbaa, Hossam M.
Kamel, Salah
The environmental aspects of renewable energy consumption and structural change in Sweden: A new perspective from wavelet-based granger causality approach
title The environmental aspects of renewable energy consumption and structural change in Sweden: A new perspective from wavelet-based granger causality approach
title_full The environmental aspects of renewable energy consumption and structural change in Sweden: A new perspective from wavelet-based granger causality approach
title_fullStr The environmental aspects of renewable energy consumption and structural change in Sweden: A new perspective from wavelet-based granger causality approach
title_full_unstemmed The environmental aspects of renewable energy consumption and structural change in Sweden: A new perspective from wavelet-based granger causality approach
title_short The environmental aspects of renewable energy consumption and structural change in Sweden: A new perspective from wavelet-based granger causality approach
title_sort environmental aspects of renewable energy consumption and structural change in sweden: a new perspective from wavelet-based granger causality approach
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC9519488/
https://www.ncbi.nlm.nih.gov/pubmed/36185131
http://dx.doi.org/10.1016/j.heliyon.2022.e10697
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