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Nexus between CO2 emission, renewable energy, trade openness and foreign direct investment, and output volatility

Author

Listed:
  • Chinmaya Behera

    (Goa Institute of Management)

  • Ranjan Kumar Mohanty

    (Xavier Institute of Management, XIM University)

  • Biswashree Tanaya Priyadarsini

    (BITS Pilani)

  • Debasis Patnaik

    (BITS Pilani)

Abstract

In the pursuit of sustainable economic development, this study investigates the nexus between carbon emissions, renewable energy utilization, trade openness, foreign direct investment and output volatility across selected East Asia–Pacific nations. Employing advanced ARDL bound tests, our results reveal a robust long-term relationship among these selected variables. Notably, our findings underscore the significant impact of carbon emissions on output volatility across all examined nations, except for Malaysia. Moreover, the study highlights the positive impact of renewable energy on output volatility, signaling a compelling imperative for policymakers to prioritize initiatives aimed at curbing carbon emissions and fostering the widespread adoption of renewable energy sources.

Suggested Citation

  • Chinmaya Behera & Ranjan Kumar Mohanty & Biswashree Tanaya Priyadarsini & Debasis Patnaik, 2024. "Nexus between CO2 emission, renewable energy, trade openness and foreign direct investment, and output volatility," Economic Change and Restructuring, Springer, vol. 57(5), pages 1-25, October.
    • Handle: RePEc:kap:ecopln:v:57:y:2024:i:5:d:10.1007_s10644-024-09736-4
    DOI: 10.1007/s10644-024-09736-4
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    References listed on IDEAS

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    More about this item

    Keywords

    Renewable energy; FDI; Carbon emission; Output volatility; Trade openness;
    All these keywords.

    JEL classification:

    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
    • B27 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - International Trade and Finance
    • F64 - International Economics - - Economic Impacts of Globalization - - - Environment

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