Technological innovation, crude oil volatility, and renewable energy dimensions in N11 countries: Analysis based on advance panel estimation techniques. (May 2022)

• Record Type: Journal Article
• Authors: Li, Zeyun; Qadus, Abdul; Maneengam, Apichit; Mabrouk, Fatma; Shahid, Muhammad Sadiq; Timoshin, Anton
• Is Part Of: Renewable energy. Volume 191(2022)
• Page Start: 204
• Page End: 212
• Publication Date: 2022-05
• Subjects: Technological innovation -- Carbon emission -- Oil volatility -- Renewable energy -- N11; Renewable energy sources -- Periodicals; Power resources -- Periodicals; Énergies renouvelables -- Périodiques; Ressources énergétiques -- Périodiques; 333.794
• DOI: 10.1016/j.renene.2022.04.014
• Languages: English
• ISSNs: 0960-1481

Abstract

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. Highlights: Newly industrialized countries are evaluated. Cup-FM and Cup-BC panel methods are employed. Technological innovation slow down environmental damages. Hydro and Thermal Energy reduces carbon emissions. Oil price volatility contribute to higher emissions.