دورية أكاديمية

Carbon reduction through renewable energy and digitalization in emerging economies: Moderating role of public debt.

التفاصيل البيبلوغرافية
العنوان: Carbon reduction through renewable energy and digitalization in emerging economies: Moderating role of public debt.
المؤلفون: Abbas Q; School of Finance and Economics, Jiangsu University, Zhenjiang, PR China., HongXing Y; School of Finance and Economics, Jiangsu University, Zhenjiang, PR China. hxyao@ujs.edu.cn., Ramzan M; School of Finance and Economics, Jiangsu University, Zhenjiang, PR China., Fatima S; Institute of Higher Education, Nankai University, Tianjin, PR China.
المصدر: Environmental science and pollution research international [Environ Sci Pollut Res Int] 2024 Jun; Vol. 31 (30), pp. 43096-43116. Date of Electronic Publication: 2024 Jun 18.
نوع المنشور: Journal Article
اللغة: English
بيانات الدورية: Publisher: Springer Country of Publication: Germany NLM ID: 9441769 Publication Model: Print-Electronic Cited Medium: Internet ISSN: 1614-7499 (Electronic) Linking ISSN: 09441344 NLM ISO Abbreviation: Environ Sci Pollut Res Int Subsets: MEDLINE
أسماء مطبوعة: Publication: <2013->: Berlin : Springer
Original Publication: Landsberg, Germany : Ecomed
مواضيع طبية MeSH: Renewable Energy* , Carbon*
مستخلص: Utilizing renewable energy (RE) and embracing the digital economy (DIG) can significantly contribute to achieving economic, energy, and climate goals by promoting carbon reduction. In this regard, public debt (DEB) is particularly important since it provides the funds required to achieve these goals by investing in renewable energy and digital economy projects. This study examines the impact of public debt on the link between renewable energy and carbon emissions (CE), as well as the association between the digital economy and carbon emissions in emerging economies from 2003 to 2022. The study employed cross-sectional augmented autoregressive distributed lag (CS-ARDL) estimation to check the relationship between the variables. The findings of our study suggest that the integration of renewable energy sources and the growth of the digital economy have a positive impact on reducing carbon emissions. On the other hand, public debt has a positive effect on carbon emissions. In addition, the findings support the notion that interaction terms (RE × DEB) and (DIG × DEB) have a diminishing effect on carbon emissions. It can be concluded that the reduction of carbon emissions is contingent upon the utilization of public debt to promote the growth of renewable energy and the digital economy. Based on our study, it is recommended that emerging economies' needs focus on boosting renewable energy usage and digital economy initiatives. Additionally, it is necessary for these economies to maintain a sustainable level of debt.
(© 2024. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)
References: Abbas Q, Junqing L, Ramzan M, Fatima S (2021) Role of governance in debt-growth relationship: evidence from panel data estimations. Sustainability 13(11):5954. (PMID: 10.3390/su13115954)
Abbas Q, HongXing Y, Ramzan M, Fatima S (2024) BRICS and the climate challenge: navigating the role of factor productivity and institutional quality in CO2 emissions. Environ Sci Pollut Res 31(3):4348–4364. https://doi.org/10.1007/s11356-023-31321-x. (PMID: 10.1007/s11356-023-31321-x)
Abbas Q, Ramzan M, Fatima S (2022) Financial development and public debt. Estimating the role of institutional quality. Theor Appl Econ 29(3):5–26.
Abbas Q, HongXing Y, Ramzan M, Fatima S (2024) Achieving carbon neutrality through digital infrastructure and public debt. Clean Technol Environ Policy 1–16.
Adams S, Acheampong AO (2019) Reducing carbon emissions: the role of renewable energy and democracy. J Clean Prod 240:118245. (PMID: 10.1016/j.jclepro.2019.118245)
Adeleye BN, Adedoyin F, Nathaniel S (2021) The criticality of ICT-trade nexus on economic and inclusive growth. Inf Technol Dev 27(2):293–313. (PMID: 10.1080/02681102.2020.1840323)
Akam D, Owolabi O, Nathaniel SP (2021) Linking external debt and renewable energy to environmental sustainability in heavily indebted poor countries: new insights from advanced panel estimators. Environ Sci Pollut Res 28(46):65300–65312. https://doi.org/10.1007/s11356-021-15191-9. (PMID: 10.1007/s11356-021-15191-9)
Akam D, Nathaniel SP, Muili HA, Eze SN (2022) The relationship between external debt and ecological footprint in SANE countries: insights from Kónya panel causality approach. Environ Sci Pollut Res 29(13):19496–19507. (PMID: 10.1007/s11356-021-17194-y)
Alhassan H, Kwakwa PA (2023) The effect of natural resources extraction and public debt on environmental sustainability. Manag Environ Qual: Int J 34(3):605–623. https://doi.org/10.1108/MEQ-07-2022-0192. (PMID: 10.1108/MEQ-07-2022-0192)
Batool Z, Raza SMF, Ali S, Abidin SZU (2022) ICT, renewable energy, financial development, and CO2 emissions in developing countries of East and South Asia. Environ Sci Pollut Res 29(23):35025–35035. (PMID: 10.1007/s11356-022-18664-7)
Behera P, Haldar A, Sethi N (2023) Achieving carbon neutrality target in the emerging economies: role of renewable energy and green technology. Gondwana Res 121:16–32. (PMID: 10.1016/j.gr.2023.03.028)
Bese E, Friday HS, Özden C (2021) The effect of external debt on emissions: evidence from China. Int J Energy Econ Policy 11(1):440–447. (PMID: 10.32479/ijeep.10605)
Breusch TS, Pagan AR (1980) The Lagrange multiplier test and its applications to model specification in econometrics. Rev Econ Stud 47(1):239–253. (PMID: 10.2307/2297111)
Chatterjee A (2020) Financial inclusion, information and communication technology diffusion, and economic growth: a panel data analysis. Inf Technol Dev 26(3):607–635. (PMID: 10.1080/02681102.2020.1734770)
Chen L (2022) How CO2 emissions respond to changes in government size and level of digitalization? Evidence from the BRICS countries. Environ Sci Pollut Res 29(1):457–467. (PMID: 10.1007/s11356-021-15693-6)
Chen C, Yao S, Hu P, Lin Y (2017) Optimal government investment and public debt in an economic growth model. China Econ Rev 45:257–278. (PMID: 10.1016/j.chieco.2016.08.005)
Chen X, Zhang H, Wu Y (2020) How does digital economy affect the level of industrial structure. Secur Mark Her 7:20–29.
Cheng C, Ren X, Wang Z, Yan C (2019) Heterogeneous impacts of renewable energy and environmental patents on CO2 emission-evidence from the BRIICS. Sci Total Environ 668:1328–1338. (PMID: 10.1016/j.scitotenv.2019.02.063)
Clootens N (2017) Public debt, life expectancy, and the environment. Environ Model Assess 22:267–278. (PMID: 10.1007/s10666-016-9535-1)
Combes J-L, Minea A, Sow M (2017) Is fiscal policy always counter-(pro-) cyclical? The role of public debt and fiscal rules. Econ Model 65:138–146. (PMID: 10.1016/j.econmod.2017.05.017)
Dawson JF (2014) Moderation in management research: what, why, when, and how. J Bus Psychol 29(1):1–19. https://doi.org/10.1007/s10869-013-9308-7. (PMID: 10.1007/s10869-013-9308-7)
Dong F, Hu M, Gao Y, Liu Y, Zhu J, Pan Y (2022) How does digital economy affect carbon emissions? Evidence from global 60 countries. Sci Total Environ 852:158401. (PMID: 10.1016/j.scitotenv.2022.158401)
Dumitrescu E-I, Hurlin C (2012) Testing for Granger non-causality in heterogeneous panels. Econ Model 29(4):1450–1460. (PMID: 10.1016/j.econmod.2012.02.014)
Eberhardt M, Teal F (2010) Productivity analysis in global manufacturing production. Discussion Paper 515, Department of Economics, University of Oxford. https://www.economics.ox.ac.uk/research/WP/pdf/paper515.pdf.
Ehigiamusoe KU, Dogan E (2022) The role of interaction effect between renewable energy consumption and real income in carbon emissions: evidence from low-income countries. Renew Sustain Energy Rev 154:111883. (PMID: 10.1016/j.rser.2021.111883)
Farhani S, Chaibi A, Rault C (2014) CO2 emissions, output, energy consumption, and trade in Tunisia. Econ Model 38:426–434. (PMID: 10.1016/j.econmod.2014.01.025)
Farooq F, Zaib A, Faheem M, Gardezi MA (2023) Public debt and environment degradation in OIC countries: the moderating role of institutional quality. Environ Sci Pollut Res 30(19):55354–55371. (PMID: 10.1007/s11356-023-26061-x)
Fosu AK (2010) The external debt-servicing constraint and public-expenditure composition in sub-Saharan Africa. Afr Dev Rev 22(3):378–393. (PMID: 10.1111/j.1467-8268.2010.00252.x)
Gillingham K, Rapson D, Wagner G (2016) The rebound effect and energy efficiency policy. Rev Environ Econ policy 10(1):68–88. (PMID: 10.1093/reep/rev017)
Global Financial Stability Report (2022) Global financial stability report, October 2022: navigating the high-inflation environment ( https://imf.org ).
World Economic Forum (2024) Global risks report 2024 | World Economic Forum | World Economic Forum ( https://weforum.org ).
Hasanov FJ, Khan Z, Hussain M, Tufail M (2021) Theoretical framework for the carbon emissions effects of technological progress and renewable energy consumption. Sustain Dev 29(5):810–822. (PMID: 10.1002/sd.2175)
Haseeb A, Xia E, Danish Baloch MA, Abbas K (2018) Financial development, globalization, and CO 2 emission in the presence of EKC: evidence from BRICS countries. Environ Sci Pollut Res 25:31283–31296. (PMID: 10.1007/s11356-018-3034-7)
Hashemizadeh A, Bui Q, Kongbuamai N (2021) Unpacking the role of public debt in renewable energy consumption: new insights from the emerging countries. Energy 224:120187. (PMID: 10.1016/j.energy.2021.120187)
International Energy Agency (IEA) report (2022)  https://www.iea.org/reports/world-energy-outlook-2022.
Ishida H (2015) The effect of ICT development on economic growth and energy consumption in Japan. Telematics Inform 32(1):79–88. (PMID: 10.1016/j.tele.2014.04.003)
Jiang Y (2015) Foreign direct investment, pollution, and the environmental quality: a model with empirical evidence from the Chinese regions. Int Trade J 29(3):212–227. (PMID: 10.1080/08853908.2014.1001538)
Jiang X, Li G, Fu W (2021) Government environmental governance, structural adjustment and air quality: a quasi-natural experiment based on the Three-year Action Plan to Win the Blue Sky Defense War. J Environ Manage 277:111470. (PMID: 10.1016/j.jenvman.2020.111470)
Kapetanios G, Pesaran MH, Yamagata T (2011) Panels with non-stationary multifactor error structures. J Econom 160(2):326–348. (PMID: 10.1016/j.jeconom.2010.10.001)
Kasman A, Duman YS (2015) 2015/01/01/). CO2 emissions, economic growth, energy consumption, trade and urbanization in new EU member and candidate countries: a panel data analysis. Econ Model 44:97–103. https://doi.org/10.1016/j.econmod.2014.10.022. (PMID: 10.1016/j.econmod.2014.10.022)
Katircioglu S, Celebi A (2018) Testing the role of external debt in environmental degradation: empirical evidence from Turkey. Environ Sci Pollut Res 25:8843–8852. (PMID: 10.1007/s11356-018-1194-0)
Kose MA, Ohnsorge FL, Reinhart CM, Rogoff KS (2022) The aftermath of debt surges. Annual Review of Economics 14:637–663. (PMID: 10.1146/annurev-economics-051420-015343)
Lange S, Pohl J, Santarius T (2020) Digitalization and energy consumption. Does ICT reduce energy demand? Ecol Econ 176:106760. https://doi.org/10.1016/j.ecolecon.2020.106760. (PMID: 10.1016/j.ecolecon.2020.106760)
Li R, Wang Q (2023) Does renewable energy reduce per capita carbon emissions and per capita ecological footprint? New evidence from 130 countries. Energ Strat Rev 49:101121. (PMID: 10.1016/j.esr.2023.101121)
Li Y, Dai J, Cui L (2020) The impact of digital technologies on economic and environmental performance in the context of industry 4.0: a moderated mediation model. Int J Prod Econ 229:107777. (PMID: 10.1016/j.ijpe.2020.107777)
Li X, Liu J, Ni P (2021) The impact of the digital economy on CO2 emissions: a theoretical and empirical analysis. Sustainability 13(13):7267. (PMID: 10.3390/su13137267)
Lin B, Zhou Y (2021) Does the internet development affect energy and carbon emission performance? Sustain Prod Consum 28:1–10. (PMID: 10.1016/j.spc.2021.03.016)
Lin C, Zhang L, Zhang Z (2022) The impact of the rise of emerging economies on global industrial CO2 emissions: evidence from emerging economies in Regional Comprehensive Economic Partnership. Resour Conserv Recycl 177:106007. https://doi.org/10.1016/j.resconrec.2021.106007. (PMID: 10.1016/j.resconrec.2021.106007)
Luni T, Majeed M (2020) Improving environmental quality through renewable energy: evidence from South Asian economies. Int J Energy Water Resour 4(3):335–345. (PMID: 10.1007/s42108-020-00073-6)
Mukhametzyanov I (2021) Specific character of objective methods for determining weights of criteria in MCDM problems: entropy, CRITIC and SD. Decis Making: Appl Manag Eng 4(2):76–105.
Murshed M (2020) An empirical analysis of the non-linear impacts of ICT-trade openness on renewable energy transition, energy efficiency, clean cooking fuel access and environmental sustainability in South Asia. Environ Sci Pollut Res 27(29):36254–36281. (PMID: 10.1007/s11356-020-09497-3)
Okumus I, Guzel AE, Destek MA (2021) Renewable, non-renewable energy consumption and economic growth nexus in G7: fresh evidence from CS-ARDL. Environ Sci Pollut Res 28(40):56595–56605. (PMID: 10.1007/s11356-021-14618-7)
Pan W, Xie T, Wang Z, Ma L (2022) Digital economy: an innovation driver for total factor productivity. J Bus Res 139:303–311. (PMID: 10.1016/j.jbusres.2021.09.061)
Pata UK (2021) Renewable and non-renewable energy consumption, economic complexity, CO 2 emissions, and ecological footprint in the USA: testing the EKC hypothesis with a structural break. Environ Sci Pollut Res 28:846–861. (PMID: 10.1007/s11356-020-10446-3)
Pesaran MH (2004) General diagnostic tests for cross section dependence in panels. Cambridge Working Papers. Economics 1240(1):1.
Pesaran MH (2006) Estimation and inference in large heterogeneous panels with a multifactor error structure. Econometrica 74(4):967–1012. (PMID: 10.1111/j.1468-0262.2006.00692.x)
Pesaran MH (2007) A simple panel unit root test in the presence of cross-section dependence. J Appl Economet 22(2):265–312. (PMID: 10.1002/jae.951)
Ramzan M, HongXing Y, Abbas Q, Fatima S (2024) Do financial inclusion, inclusive digitalization and growth promote clean energy portfolio? Clean Technol Environ Policy 1–9. https://doi.org/10.1007/s10098-023-02722-w.
Sadiq M, Shinwari R, Usman M, Ozturk I, Maghyereh AI (2022) Linking nuclear energy, human development and carbon emission in BRICS region: do external debt and financial globalization protect the environment? Nucl Eng Technol 54(9):3299–3309. https://doi.org/10.1016/j.net.2022.03.024. (PMID: 10.1016/j.net.2022.03.024)
Saidi K, Hammami S (2015) The impact of energy consumption and CO2 emissions on economic growth: fresh evidence from dynamic simultaneous-equations models. Sustain Cities Soc 14:178–186. (PMID: 10.1016/j.scs.2014.05.004)
Saidi K, Omri A (2020) The impact of renewable energy on carbon emissions and economic growth in 15 major renewable energy-consuming countries. Environ Res 186:109567. (PMID: 10.1016/j.envres.2020.109567)
Samour A, Baskaya MM, Tursoy T (2022) The impact of financial development and FDI on renewable energy in the UAE: a path towards sustainable development. Sustainability 14(3):1208. (PMID: 10.3390/su14031208)
Saudi MHM, Sinaga O, Jabarullah NH (2019) The role of renewable, non-renewable energy consumption and technology innovation in testing environmental Kuznets curve in Malaysia. Int J Energy Econ Policy 9(1):299–307.
Shahbaz M, Wang J, Dong K, Zhao J (2022) The impact of digital economy on energy transition across the globe: the mediating role of government governance. Renew Sustain Energy Rev 166:112620. (PMID: 10.1016/j.rser.2022.112620)
Sun X, Liu X (2020) Decomposition analysis of debt’s impact on China’s energy consumption. Energy Policy 146:111802. (PMID: 10.1016/j.enpol.2020.111802)
Tufail M, Song L, Adebayo TS, Kirikkaleli D, Khan S (2021) Do fiscal decentralization and natural resources rent curb carbon emissions? Evidence from developed countries. Environ Sci Pollut Res 28(35):49179–49190. (PMID: 10.1007/s11356-021-13865-y)
Tufail M, Song L, Wang W, Gu X, Khan S (2023) Race to top or race to bottom approach: disaggregated effect of fiscal decentralization and its implications for consumption-based carbon emissions. J Knowl Econ 1–35. https://doi.org/10.1007/s13132-023-01690-2.
Usman A, Ozturk I, Ullah S, Hassan A (2021) Does ICT have symmetric or asymmetric effects on CO2 emissions? Evidence from selected Asian economies. Technol Soc 67:101692. (PMID: 10.1016/j.techsoc.2021.101692)
Wang Q, Cheng X, Li R (2023) Does the digital economy reduce carbon emissions? The role of technological innovation and trade openness. Energy Environ 0958305X231196127.  https://doi.org/10.1177/0958305X231196127.
Wen H, Lee C-C, Song Z (2021) Digitalization and environment: how does ICT affect enterprise environmental performance? Environ Sci Pollut Res 28(39):54826–54841. (PMID: 10.1007/s11356-021-14474-5)
Westerlund J (2007) Testing for error correction in panel data. Oxford Bull Econ Stat 69(6):709–748. (PMID: 10.1111/j.1468-0084.2007.00477.x)
Wu H, Hao Y, Ren S, Yang X, Xie G (2021) Does internet development improve green total factor energy efficiency? Evidence from China. Energy Policy 153:112247. (PMID: 10.1016/j.enpol.2021.112247)
Xun Z, Guanghua W, Jiajia Z, Zongyue H (2020) Digital economy, financial inclusion and inclusive growth. China Econ 15(3):92–105.
Yan X, Deng Y, Peng L, Jiang Z (2023) Study on the impact of digital economy development on carbon emission intensity of urban agglomerations and its mechanism. Environ Sci Pollut Res 30(12):33142–33159. (PMID: 10.1007/s11356-022-24557-6)
Yang M, Wang E-Z, Hou Y (2021) The relationship between manufacturing growth and CO2 emissions: does renewable energy consumption matter? Energy 232:121032. (PMID: 10.1016/j.energy.2021.121032)
Yi M, Liu Y, Sheng MS, Wen L (2022) Effects of digital economy on carbon emission reduction: new evidence from China. Energy Policy 171:113271. (PMID: 10.1016/j.enpol.2022.113271)
Zeng C, Stringer LC, Lv T (2021) The spatial spillover effect of fossil fuel energy trade on CO2 emissions. Energy 223:120038. (PMID: 10.1016/j.energy.2021.120038)
Zhang J, Lyu Y, Li Y, Geng Y (2022) Digital economy: an innovation driving factor for low-carbon development. Environ Impact Assess Rev 96:106821. (PMID: 10.1016/j.eiar.2022.106821)
Zhao T, Liu Z (2022) Drivers of CO2 emissions: a debt perspective. Int J Environ Res Public Health 19(3):1847. (PMID: 10.3390/ijerph19031847)
معلومات مُعتمدة: 2021SJZDA139 The Key Project of Philosophy and Social Science Research in Colleges and Universities in Jiangsu Province
فهرسة مساهمة: Keywords: CO2 emissions; Digital economy; Public debt; Renewable energy
المشرفين على المادة: 7440-44-0 (Carbon)
تواريخ الأحداث: Date Created: 20240618 Date Completed: 20240703 Latest Revision: 20240705
رمز التحديث: 20240705
DOI: 10.1007/s11356-024-33873-y
PMID: 38890251
قاعدة البيانات: MEDLINE
الوصف
تدمد:1614-7499
DOI:10.1007/s11356-024-33873-y