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The Impact of Fossil Fuels, Renewable Energy, and Nuclear Energy on South Korea’s Environment Based on the STIRPAT Model: ARDL, FMOLS, and CCR Approaches

Author

Listed:
  • Grzegorz Zimon

    (Faculty of Management, Rzeszow University of Technology, 35-959 Rzeszow, Poland)

  • Dulal Chandra Pattak

    (Department of Banking & Insurance, University of Dhaka, Dhaka 1000, Bangladesh)

  • Liton Chandra Voumik

    (Department of Economics, Noakhali Science and Technology University, Noakhali 3814, Bangladesh)

  • Salma Akter

    (Department of Economics, Noakhali Science and Technology University, Noakhali 3814, Bangladesh)

  • Funda Kaya

    (Department of Environmental Health, Aydin Adnan Menderes University, Efeler, Aydin 09100, Türkiye)

  • Robert Walasek

    (Department of Logistics, Faculty of Management, University of Lodz, 90-237 Lodz, Poland)

  • Konrad Kochański

    (Institute of Economics and Finance, University of Szczecin, 71-101 Szczecin, Poland)

Abstract

This study intends to shed light on the environmental impacts of energy decisions in South Korea by analyzing the correlation between energy consumption patterns and environmental indicators such as carbon dioxide emissions. In 2021, global CO 2 emissions increased by 6%—to the highest ever level of 36.3 billion tons—according to the International Energy Agency (IEA). This increase in CO 2 emissions is a big problem for all countries around the world. The aim of this article is an analyze the impact of fossil fuels, renewable energy, and nuclear energy on South Korea’s environment based on the STIRPAT (stochastic impact by regression on population, affluence, and technology) model. Exploring the intricate nexus between economic and energy indicators and environmental outcomes, this study employs the STIRPAT model to analyze the influence of GDP, population dynamics, fossil fuels, renewable energy, and nuclear energy on South Korea’s environment. The yearly data from 1972 to 2021 are analyzed in this paper using an autoregressive distributed lag (ARDL) model. The reliability of this study is also examined by employing FMOLS (fully modified ordinary least squares) and CCR (canonical cointegrating regression) estimators. This study confirms the findings of previous research by showing that the rising South Korea GDP and population can lead to higher CO 2 emissions and that a strategy switching to renewable energy can cut down on CO 2 emissions in Korea, as it exhibits a coefficient of −0.085 *. The robustness results of FMOLS and CCR’s findings support baseline ARDL findings.

Suggested Citation

  • Grzegorz Zimon & Dulal Chandra Pattak & Liton Chandra Voumik & Salma Akter & Funda Kaya & Robert Walasek & Konrad Kochański, 2023. "The Impact of Fossil Fuels, Renewable Energy, and Nuclear Energy on South Korea’s Environment Based on the STIRPAT Model: ARDL, FMOLS, and CCR Approaches," Energies, MDPI, vol. 16(17), pages 1-21, August.
    • Handle: RePEc:gam:jeners:v:16:y:2023:i:17:p:6198-:d:1225657
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    References listed on IDEAS

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