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Technological innovation, crude oil volatility, and renewable energy dimensions in N11 countries: Analysis based on advance panel estimation techniques

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  • Li, Zeyun
  • Qadus, Abdul
  • Maneengam, Apichit
  • Mabrouk, Fatma
  • Shahid, Muhammad Sadiq
  • Timoshin, Anton

Abstract

Deterioration of natural environment is a serious threat to all the communities on earth. However, green and contemporary innovations reduce the adverse environmental outcomes generated through higher greenhouse gas emissions. Therefore, this study examines the role of technological innovationand renewable energy dimensions towards improving environmental quality. At the same time, the role of oil price volatilityis also observed during the study period from 1995 to 2018 for N11 countries with the help of advanced panel estimation. More specifically, this research applies second-generation panel cointegration technique along with continuously updated fully modified and continuously updated bias-corrected (Cup-BC) techniques. The results show that technological innovation and renewable energy dimensions like hydro and thermal power play a major role in reducing environmental threats. However, crude oil price volatility plays a major role in environmental deterioration. Besides, this research offers valuable recommendations for environmentalists.

Suggested Citation

  • Li, Zeyun & Qadus, Abdul & Maneengam, Apichit & Mabrouk, Fatma & Shahid, Muhammad Sadiq & Timoshin, Anton, 2022. "Technological innovation, crude oil volatility, and renewable energy dimensions in N11 countries: Analysis based on advance panel estimation techniques," Renewable Energy, Elsevier, vol. 191(C), pages 204-212.
    • Handle: RePEc:eee:renene:v:191:y:2022:i:c:p:204-212
    DOI: 10.1016/j.renene.2022.04.014
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    2. Masahina Sarabdeen & Manal Elhaj & Hind Alofaysan, 2024. "Exploring the Influence of Digital Transformation on Clean Energy Transition, Climate Change, and Economic Growth among Selected Oil-Export Countries through the Panel ARDL Approach," Energies, MDPI, vol. 17(2), pages 1-18, January.
    3. Saud, Shah & Haseeb, Abdul & Zafar, Muhammad Wasif & Li, Huiyun, 2023. "Articulating natural resource abundance, economic complexity, education and environmental sustainability in MENA countries: Evidence from advanced panel estimation," Resources Policy, Elsevier, vol. 80(C).
    4. Salisu, Afees A. & Isah, Kazeem & Oloko, Tirimisiyu O., 2024. "Technology shocks and crude oil market connection: The role of climate change," Energy Economics, Elsevier, vol. 130(C).
    5. Zhang, Dongyang & Bai, Dingchuan & Chen, Xingyu, 2024. "Can crude oil futures market volatility motivate peer firms in competing ESG performance? An exploration of Shanghai International Energy Exchange," Energy Economics, Elsevier, vol. 129(C).

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    More about this item

    Keywords

    Technological innovation; Carbon emission; Oil volatility; Renewable energy; N11;
    All these keywords.

    JEL classification:

    • N11 - Economic History - - Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations - - - U.S.; Canada: Pre-1913

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