Renewable energy consumption, globalization, and economic growth shocks: Evidence from G7 countries

References

• Ang, B. 2007. “CO2 Emissions, Energy Consumption, and Output in France.” Energy Policy 35 (10): 4772–4778.
   Web of Science ®Google Scholar
• Awerbuch, S., and R. Sauter. 2006. “Exploiting the oil–GDP Effect to Support Renewables Deployment.” Energy Policy 34 (17): 2805–2819.
   Web of Science ®Google Scholar
• Bachmeier, J., and M. Griffin. 2003. “New Evidence on Asymmetric Gasoline Price Responses.” Review of Economics and Statistics 85: 772–776.
   Web of Science ®Google Scholar
• Banerjee, A., J. Dolado, and R. Mestre. 1998. “Error‐Correction Mechanism Tests for Cointegration in a Single‐Equation Framework.” Journal of Time Series Analysis 19 (3): 267–283.
   Google Scholar
• Bayer, P., L. Dolan, and J. Urpelainen. 2013. “Global Patterns of Renewable Energy Innovation, 1990–2009.” Energy for Sustainable Development 17 (3): 288–295.
   Web of Science ®Google Scholar
• Beck, F., and E. Martinot. 2004. “Renewable Energy Policies and Barriers.” Encycl. Energy 34 (3): 365–383.
   Google Scholar
• Bourcet, C. 2020. “Empirical Determinants of Renewable Energy Deployment: A Systematic Literature Review.” Energy Economics 85: 104563.
   Web of Science ®Google Scholar
• Brown, L., J. Durbin, and M. Evans. 1975. “Techniques for Testing the Constancy of Regression Relationships Over Time.” Journal of the Royal Statistical Society: Series B (Methodological 37 (2): 149–163.
   Web of Science ®Google Scholar
• Cadoret, I., and F. Padovano. 2016. “The Political Drivers of Renewable Energies Policies.” Energy Economics 56: 261–269.
   Web of Science ®Google Scholar
• Can, M., and G. Gozgor. 2018. “Effects of Export Product Diversification on Quality Upgrading: an Empirical Study.” The Journal of International Trade & Economic Development 27 (3): 293–313.
   Web of Science ®Google Scholar
• Chang, H., M. Huang, and C. Lee. 2009. “Threshold Effect of the Economic Growth Rate on Renewable Energy Development from a Change in Energy Price: Evidence from OECD Countries.” Energy Policy 37 (12): 5796–5802.
   Web of Science ®Google Scholar
• Chen, S., S. Saud, S. Bano, and A. Haseeb. 2019. “The Nexus Between Financial Development, Globalization, and Environmental Degradation: Fresh Evidence from Central and Eastern European Countries.” Environmental Science and Pollution Research 26 (24): 24733–24747.
   PubMed Web of Science ®Google Scholar
• Cheon, A., and J. Urpelainen. 2012. “Oil Prices and Energy Technology Innovation: An Empirical Analysis.” Global Environmental Change 22 (2): 407–417.
   Web of Science ®Google Scholar
• Churchill, A., J. Inekwe, R. Smyth, and X. Zhang. 2019. “R&D Intensity and Carbon Emissions in the G7: 1870–2014.” Energy Economics 80: 30–37.
   Web of Science ®Google Scholar
• Dhaoui, A., J. Chevallier, and F. Ma. 2020. “Identifying Asymmetric Responses of Sectoral Equities to oil Price Shocks in a NARDL Model.” Studies in Nonlinear Dynamics & Econometrics, 20190066.
   Web of Science ®Google Scholar
• Doytch, N., and S. Narayan. 2016. “Does FDI Influence Renewable Energy Consumption? An Analysis of Sectoral FDI Impact on Renewable and non-Renewable Industrial Energy Consumption.” Energy Economics 54: 291–301.
   Web of Science ®Google Scholar
• Dreher, A. 2006. “Does Globalization Affect Growth? Evidence from a new Index of Globalization.” Applied Economics 38 (10): 1091–1110.
   Web of Science ®Google Scholar
• Eckstein, D., V. Künzel, and L. Schäfer. 2021. Global Climate Risk Index 2021. Who Suffers Most from Extreme Weather Events, 2000-2019. Bonn: Germanwatch.
   Google Scholar
• Fang, J., G. Gozgor, Z. Lu, and W. Wu. 2019. “Effects of the Export Product Quality on Carbon Dioxide Emissions: Evidence from Developing Economies.” Environmental Science & Pollution Research 26 (12): 12181–12193.
   PubMed Web of Science ®Google Scholar
• Fousekis, P., C. Katrakilidis, and E. Trachanas. 2016. “Vertical Price Transmission in the US Beef Sector: Evidence from the Nonlinear ARDL Model.” Economic Modelling 52: 499–506.
   Web of Science ®Google Scholar
• Gökmenoğlu, K., and N. Taspinar. 2016. “The Relationship Between CO2 Emissions, Energy Consumption, Economic Growth and FDI: the Case of Turkey.” The Journal of International Trade & Economic Development 25 (5): 706–723.
   Web of Science ®Google Scholar
• Gozgor, G., and M. Can. 2017. “Does Export Product Quality Matter for CO2 Emissions? Evidence from China.” Environmental Science & Pollution Research 24 (3): 2866–2875.
   PubMed Web of Science ®Google Scholar
• Gozgor, G., K. Mahalik, E. Demir, and H. Padhan. 2020. “The Impact of Economic Globalization on Renewable Energy in OECD Countries.” Energy Policy 139: 111365.
   Web of Science ®Google Scholar
• Hsu, W. 2012. “Using a System Dynamics Model to Assess the Effects of Capital Subsidies and Feed-in Tariffs on Solar PV Installations.” Applied Energy 100: 205–217.
   Web of Science ®Google Scholar
• Im, S., H. Pesaran, and Y. Shin. 2003. “Testing for Unit Roots in Heterogeneous Panels.” Journal of Econometrics 115 (1): 53–74.
   Web of Science ®Google Scholar
• Kim, D., and P. Perron. 2009. “Unit Root Tests Allowing for a Break in the Trend Function at an Unknown Time Under Both the Null and Alternative Hypotheses.” Journal of Econometrics 148 (1): 1–13.
   Web of Science ®Google Scholar
• Lee, J. 2000. “The Robustness of Okun’s Law: Evidence from OECD Countries.” Journal of Macroeconomics 22: 331–356.
   Web of Science ®Google Scholar
• Liu, M., X. Ren, C. Cheng, and Z. Wang. 2020. “The Role of Globalization in CO2 Emissions: a Semi-Parametric Panel Data Analysis for G7.” Science of the Total Environment 718: 137379.
   PubMed Web of Science ®Google Scholar
• Lv, Z., and T. Xu. 2019. “Trade Openness, Urbanization and CO2 Emissions: Dynamic Panel Data Analysis of Middle-Income Countries.” The Journal of International Trade & Economic Development 28 (3): 317–330.
   Web of Science ®Google Scholar
• Menegaki, N. 2011. “Growth and Renewable Energy in Europe: A Random Effect Model with Evidence for Neutrality Hypothesis.” Energy Economics 33 (2): 257–263.
   Web of Science ®Google Scholar
• Nie, Y., H. Chen, C. Yang, and H. Wang. 2016. “Subsidies in Carbon Finance for Promoting Renewable Energy Development.” Journal of Cleaner Production 139: 677–684.
   Web of Science ®Google Scholar
• Nusair, A. 2016. “The Effects of oil Price Shocks on the Economies of the Gulf Co-Operation Council Countries: Nonlinear Analysis.” Energy Policy 91: 256–267.
   Web of Science ®Google Scholar
• Ozturk, I., and A. Acaravci. 2013. “The Long-run and Causal Analysis of Energy, Growth, Openness and Financial Development on Carbon Emissions in Turkey.” Energy Economics 36: 262–267.
   Web of Science ®Google Scholar
• Paramati, R., N. Apergis, and M. Ummalla. 2017. “Financing Clean Energy Projects Through Domestic and Foreign Capital: The Role of Political Cooperation among the EU, the G20, and OECD Countries.” Energy Economics 61: 62–71.
   Web of Science ®Google Scholar
• Paramati, R., D. Mo, and R. Gupta. 2017. “The Effects of Stock Market Growth and Renewable Energy use on CO2 Emissions: Evidence from G20 Countries.” Energy Economics 66: 360–371.
   Web of Science ®Google Scholar
• Pesaran, H., and Y. Shin. 1998. “An Autoregressive Distributed-lag Modelling Approach to Cointegration Analysis.” Econometric Society Monographs 31: 371–413.
   Google Scholar
• Pesaran, H., Y. Shin, and R. J. Smith. 2001. “Bounds Testing Approaches to the Analysis of Level Relationships.” Journal of Applied Econometrics 16 (3): 289–326.
   Web of Science ®Google Scholar
• Ploberger, W., W. Krämer, and K. Kontrus. 1989. “A New Test for Structural Stability in the Linear Regression Model.” Journal of Econometrics 40 (2): 307–318.
   Web of Science ®Google Scholar
• Rahman, M., and D. Miah. 2017. “The Impact of Sources of Energy Production on Globalization: Evidence from Panel Data Analysis.” Renewable and Sustainable Energy Reviews 74: 110–115.
   Web of Science ®Google Scholar
• Rehman, U., E. Bouri, V. Eraslan, and S. Kumar. 2019. “Energy and non-Energy Commodities: An Asymmetric Approach Towards Portfolio Diversification in the Commodity Market.” Resources Policy 63: 101456.
   Web of Science ®Google Scholar
• Shahbaz, M., A. Hye, K. Tiwari, and C. Leitão. 2013. “Economic Growth, Energy Consumption, Financial Development, International Trade and CO2 Emissions in Indonesia.” Renewable and Sustainable Energy Reviews 25: 109–121.
   Web of Science ®Google Scholar
• Shahbaz, M., A. Nasir, and D. Roubaud. 2018. “Environmental Degradation in France: The Effects of FDI, Financial Development, and Energy Innovations.” Energy Economics 74: 843–857.
   Web of Science ®Google Scholar
• Shahbaz, M., H. Shahzad, S. Alam, and N. Apergis. 2018. “Globalization, Economic Growth, and Energy Consumption in the BRICS Region: The Importance of Asymmetries.” Journal of International Trade & Economic Development 27 (8): 985–1009.
   Web of Science ®Google Scholar
• Shin, Y., B. Yu, and M. Greenwood-Nimmo. 2014. “Modeling Asymmetric Cointegration and Dynamic Multipliers in a Nonlinear ARDL Framework.” In Festschrift in Honor of Peter Schmidt, 281–314. New York, NY: Springer.
   Google Scholar
• Tariq, M., Y. Xu, F. Muhammad, and K. M. Alam. 2019. “The Dirty Energy Dilemma via Financial Development and Economic Globalization in Pakistan: New Evidence from Asymmetric Dynamic Effects.” Environmental Science and Pollution Research 26 (25): 25500–25512.
   PubMed Web of Science ®Google Scholar
• Viren, M. 2001. “The Okun Curve is non-Linear.” Economics Letters 70: 253–257.
   Web of Science ®Google Scholar
• Yang, X., L. He, Y. Xia, and Y. Chen. 2019. “Effect of Government Subsidies on Renewable Energy Investments: The Threshold Effect.” Energy Policy 132: 156–166.
   Web of Science ®Google Scholar
• Yao, Y., K. Ivanovski, J. Inekwe, and R. Smyth. 2019. “Human Capital and Energy Consumption: Evidence from OECD Countries.” Energy Economics 84: 104534.
   Web of Science ®Google Scholar
• Zafar, W., H. Zaidi, A. Sinha, A. Gedikli, and F. Hou. 2019. “The Role of the Stock Market and Banking Sector Development, and Renewable Energy Consumption in Carbon Emissions: Insights from G-7 and N-11 Countries.” Resources Policy 62: 427–436.
   Web of Science ®Google Scholar