References
- Abbasi, K. R., and F. F. Adedoyin. 2021. “Do Energy Use and Economic Policy Uncertainty Affect CO2 Emissions in China? Empirical Evidence from the Dynamic ARDL Simulation Approach.” Environmental Science and Pollution Research 28 (18): 23323–23335. doi:https://doi.org/10.1007/s11356-020-12217-6.
- Adams, S., F. F. Adedoyin, E. Olaniran, and F. V. Bekun. 2020. “Energy Consumption, Economic Policy Uncertainty and Carbon Emissions; Causality Evidence from Resource Rich Economies.” Economic Analysis and Policy 68: 179–190. doi:https://doi.org/10.1016/j.eap.2020.09.012.
- Adedoyin, F. F., and A. Zakari. 2020. “Energy Consumption, Economic Expansion, and CO2 Emission in the UK: The Role of Economic Policy Uncertainty.” Science of the Total Environment 738: 140014. doi:https://doi.org/10.1016/j.scitotenv.2020.140014.
- Adeyemi, O. I., and L. C. Hunt. 2007. “Modelling OECD Industrial Energy Demand: Asymmetric Price Responses and Energy-saving Technical Change.” Energy Economics 29 (4): 693–709. doi:https://doi.org/10.1016/j.eneco.2007.01.007.
- Ahir, H., N. Bloom, and D. Furceri. 2019. “The World Uncertainty Index.” Stanford Institute for Economic Policy Research (SIEPR) Working Paper, No. 19–027. Stanford, CA: SIEPR.
- Anser, M. K., N. Apergis, and Q. R. Syed. 2021. “Impact of Economic Policy Uncertainty on CO2 Emissions: Evidence from Top Ten Carbon Emitter Countries.” Environmental Science and Pollution Research 28 (23): 29369–29378. doi:https://doi.org/10.1007/s11356-021-12782-4.
- Atsu, F., & Adams, S. (2021). Energy consumption, finance, and climate change: Does policy uncertainty matter?. Economic Analysis and Policy, 70, 490–501.
- Baker, S. R., N. Bloom, S. J. Davis, K. Kost, M. Sammon, and T. Viratyosin. 2020. “The Unprecedented Stock Market Reaction to COVID-19.” The Review of Asset Pricing Studies 10 (4): 742–758. doi:https://doi.org/10.1093/rapstu/raaa008.
- Baum, C. F., M. Caglayan, and B. Xu. 2021. “The Impact of Uncertainty on Financial Institutions: A Cross‐country Study.” International Journal of Finance and Economics 26 (3): 3719–3739. doi:https://doi.org/10.1002/ijfe.1983.
- Bernanke, B. S. 1983. “Irreversibility, Uncertainty, and Cyclical Investment.” The Quarterly Journal of Economics 98 (1): 85–106. doi:https://doi.org/10.2307/1885568.
- Bhattacharya, M., S. R. Paramati, I. Ozturk, and S. Bhattacharya. 2016. “The Effect of Renewable Energy Consumption on Economic Growth: Evidence from Top 38 Countries.” Applied Energy 162: 733–741. doi:https://doi.org/10.1016/j.apenergy.2015.10.104.
- Bloom, N., M. Floetotto, N. Jaimovich, I. Saporta‐Eksten, and S. J. Terry. 2018. “Really Uncertain Business Cycles.” Econometrica 86 (3): 1031–1065. doi:https://doi.org/10.3982/ECTA10927.
- Bloom, N. 2009. “The Impact of Uncertainty Shocks.” Econometrica 77 (3): 623–685.
- Bloom, N. 2014. “Fluctuations in Uncertainty.” Journal of Economic Perspectives 28 (2): 153–176. doi:https://doi.org/10.1257/jep.28.2.153.
- Caglayan, M., and B. Xu. 2016. “Sentiment Volatility and Bank Lending Behavior.” International Review of Financial Analysis 45: 107–120. doi:https://doi.org/10.1016/j.irfa.2016.03.009.
- Caglayan, M., and B. Xu. 2019. “Economic Policy Uncertainty Effects on Credit and Stability of Financial Institutions.” Bulletin of Economic Research 71 (3): 342–347. doi:https://doi.org/10.1111/boer.12175.
- Danish, U. R., and S. U. D. Khan. 2020. “Relationship between Energy Intensity and CO2 Emissions: Does Economic Policy Matter?” Sustainable Development 28 (5): 1457–1464. doi:https://doi.org/10.1002/sd.2098.
- Dong, K., X. Dong, Q. Jiang, and J. Zhao. 2021. “Valuing the Greenhouse Effect of Political Risks: The Global Case.” Applied Economics 53 (31): 3604–3618. doi:https://doi.org/10.1080/00036846.2021.1883543.
- Fang, J., G. Gozgor, M. K. Mahalik, H. Padhan, and R. Xu. 2021. “The Impact of Economic Complexity on Energy Demand in OECD Countries.” Environmental Science and Pollution Research 28 (26): 33771–33780. doi:https://doi.org/10.1007/s11356-020-12089-w.
- Fotis, P., S. Karkalakos, and D. Asteriou. 2017. “The Relationship between Energy Demand and Real GDP Growth Rate: The Role of Price Asymmetries and Spatial Externalities within 34 Countries across the Globe.” Energy Economics 66: 69–84. doi:https://doi.org/10.1016/j.eneco.2017.05.027.
- Gozgor, G., A. K. Tiwari, N. Khraief, and M. Shahbaz. 2019. “Dependence Structure between Business Cycles and CO2 Emissions in the US: Evidence from the Time-varying Markov-Switching Copula Models.” Energy 188: 115995. doi:https://doi.org/10.1016/j.energy.2019.115995.
- Gozgor, G., C. K. M. Lau, and Z. Lu. 2018. “Energy Consumption and Economic Growth: New Evidence from the OECD Countries.” Energy 153: 27–34. doi:https://doi.org/10.1016/j.energy.2018.03.158.
- Gozgor, G. 2016. “Are Shocks to Renewable Energy Consumption Permanent or Transitory? An Empirical Investigation for Brazil, China, and India.” Renewable and Sustainable Energy Reviews 66: 913–919. doi:https://doi.org/10.1016/j.rser.2016.08.055.
- Gozgor, G. 2018. “A New Approach to the Renewable Energy-growth Nexus: Evidence from the USA.” Environmental Science and Pollution Research 25 (17): 16590–16600. doi:https://doi.org/10.1007/s11356-018-1858-9.
- Jiang, Y., Z. Zhou, and C. Liu. 2019. “Does Economic Policy Uncertainty Matter for Carbon Emission? Evidence from US Sector Level Data.” Environmental Science and Pollution Research 26 (24): 24380–24394. doi:https://doi.org/10.1007/s11356-019-05627-8.
- Labandeira, X., J. M. Labeaga, and X. López-Otero. 2017. “A Meta-analysis on the Price Elasticity of Energy Demand.” Energy Policy 102: 549–568. doi:https://doi.org/10.1016/j.enpol.2017.01.002.
- Liddle, B., and H. Huntington. 2020. “Revisiting the Income Elasticity of Energy Consumption: A Heterogeneous, Common Factor, Dynamic OECD & Non-OECD Country Panel Analysis.” The Energy Journal 41 (3): 207–229. doi:https://doi.org/10.5547/01956574.41.3.blid.
- Machado, J. A. F., and J. M. C. Santos Silva. 2019. “Quantiles via Moments.” Journal of Econometrics 213 (1): 145–173. doi:https://doi.org/10.1016/j.jeconom.2019.04.009.
- Paramati, S. R., M. Bhattacharya, I. Ozturk, and A. Zakari. 2018. “Determinants of Energy Demand in African Frontier Market Economies: An Empirical Investigation.” Energy 148: 123–133. doi:https://doi.org/10.1016/j.energy.2018.01.146.
- Paramati, S. R., M. Ummalla, and N. Apergis. 2016. “The Effect of Foreign Direct Investment and Stock Market Growth on Clean Energy Use across a Panel of Emerging Market Economies.” Energy Economics 56: 29–41. doi:https://doi.org/10.1016/j.eneco.2016.02.008.
- Paramati, S. 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. doi:https://doi.org/10.1016/j.eneco.2016.11.001.
- Pesaran, M. H. 2004. “General Diagnostic Tests for Cross-sectional Dependence in Panels.” University of Cambridge Working Papers in Economics, No. 435. Cambridge: University of Cambridge.
- Pesaran, M. H. 2007. “A Simple Panel Unit Root Test in the Presence of Cross‐section Dependence.” Journal of Applied Econometrics 22 (2): 265–312. doi:https://doi.org/10.1002/jae.951.
- Pesaran, M. H. 2015. “Testing Weak Cross-sectional Dependence in Large Panels.” Econometric Reviews 34 (6–10): 1089–1117. doi:https://doi.org/10.1080/07474938.2014.956623.
- Pirgaip, B., and B. Dincergok. 2020. “Economic Policy Uncertainty, Energy Consumption and Carbon Emissions in G7 Countries: Evidence from a Panel Granger Causality Analysis.” Environmental Science and Pollution Research 27 (24): 30050–30066. doi:https://doi.org/10.1007/s11356-020-08642-2.
- Rodrik, D. 1991. “Policy Uncertainty and Private Investment in Developing Countries.” Journal of Development Economics 36 (2): 229–242. doi:https://doi.org/10.1016/0304-3878(91)90034-S.
- Schulte, I., and P. Heindl. 2017. “Price and Income Elasticities of Residential Energy Demand in Germany.” Energy Policy 102: 512–528. doi:https://doi.org/10.1016/j.enpol.2016.12.055.
- Shabir, M., M. Ali, S. H. Hashmi, and S. Bakhsh. 2021. “Heterogeneous Effects of Economic Policy Uncertainty and Foreign Direct Investment on Environmental Quality: Cross-Country Evidence.” Environmental Science and Pollution Research. forthcoming. doi:https://doi.org/10.1007/s11356-021-15715-3.
- Shafiullah, M., M. D. Miah, M. S. Alam, and M. Atif. 2021. “Does Economic Policy Uncertainty Affect Renewable Energy Consumption?” Renewable Energy 179: 1500–1521. doi:https://doi.org/10.1016/j.renene.2021.07.092.
- Shahbaz, M., G. Gozgor, and S. Hammoudeh. 2019. “Human Capital and Export Diversification as New Determinants of Energy Demand in the United States.” Energy Economics 78: 335–349. doi:https://doi.org/10.1016/j.eneco.2018.11.016.
- Sohail, M. T., Y. Xiuyuan, A. Usman, M. T. Majeed, and S. Ullah. 2021. “Renewable Energy and Non-renewable Energy Consumption: Assessing the Asymmetric Role of Monetary Policy Uncertainty in Energy Consumption.” Environmental Science and Pollution Research 28 (24): 31575–31584. doi:https://doi.org/10.1007/s11356-021-12867-0.
- Sorrell, S. 2015. “Reducing Energy Demand: A Review of Issues, Challenges and Approaches.” Renewable and Sustainable Energy Reviews 47: 74–82. doi:https://doi.org/10.1016/j.rser.2015.03.002.
- Syed, Q. R., and E. Bouri. 2021. “Impact of Economic Policy Uncertainty on CO2 Emissions in the US: Evidence from Bootstrap ARDL Approach.” Journal of Public Affairs: e2595. forthcoming. doi:https://doi.org/10.1002/pa.2595.
- Wang, Q., K. Xiao, and Z. Lu. 2020. “Does Economic Policy Uncertainty Affect CO2 Emissions? Empirical Evidence from the United States.” Sustainability 12 (21): 9108. doi:https://doi.org/10.3390/su12219108.
- World Bank. 2021. World Development Indicators. Washington, DC: World Bank.
- Xu, B., A. Nayak, D. Gray, and J. Ouenniche. 2016. “Assessing Energy Business Cases Implemented in the North Sea Region and Strategy Recommendations.” Applied Energy 172: 360–371. doi:https://doi.org/10.1016/j.apenergy.2016.03.110.
- Yu, J., Shi, X., Guo, D., & Yang, L. (2021). Economic policy uncertainty (EPU) and firm carbon emissions: Evidence using a China provincial EPU index. Energy Economics, 94, 105071.
- Zakari, A., F. F. Adedoyin, and F. Bekun. 2021. “The Effect of Energy Consumption on the Environment in the OECD Countries: Economic Policy Uncertainty Perspectives.” Environmental Science and Pollution Research 28: 52295–52305. doi:https://doi.org/10.1007/s11356-021-14463-8.
- Zhao, J., M. Shahbaz, X. Dong, and K. Dong. 2021. “How Does Financial Risk Affect Global CO2 Emissions? The Role of Technological Innovation.” Technological Forecasting and Social Change 168: 120751. doi:https://doi.org/10.1016/j.techfore.2021.120751.
- Zhao, P., Z. Lu, J. Fang, S. R. Paramati, and K. Jiang. 2020. “Determinants of Renewable and Non-renewable Energy Demand in China.” Structural Change and Economic Dynamics 54: 202–209. doi:https://doi.org/10.1016/j.strueco.2020.05.002.