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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...
Autores principales: | , , , , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
Elsevier
2022
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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. |
format | Online Article Text |
id | pubmed-9519488 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2022 |
publisher | Elsevier |
record_format | MEDLINE/PubMed |
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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