TY - JOUR
T1 - Exploring the nexuses of disintegrated energy consumption, structural change, and financial development on environmental sustainability in BRICS: modulating roles of green innovations and regulatory quality
AU - Ibrahim, Ridwan Lanre
AU - Ozturk, Ilhan
AU - Al-Faryan, Mamdouh Abdulaziz Saleh
AU - Al-Mulali, Usama
PY - 2022/10/1
Y1 - 2022/10/1
N2 - The global economy today is working towards neutralizing greenhouse gas emissions which has been viciously polluted the ecosystem beyond many expectations. Therefore, this study probes how regulatory quality and green innovations intermediate among disintegrated energy resources (renewable, nuclear, and nonrenewable energy), structural change, and financial development to promote environmental sustainability in BRICS. The study relies on recent econometric procedures such as second generation unit root and cointegration tests, homogeneity tests, and cross-sectional autoregressive distributed lag (CS-ARDL) estimation technique using data from 1996 to 2019. The results show how the interventions of regulatory quality and green innovations enhance the effects of other regressors to substantially moderate the surge in GHG emissions. Among others, renewable energy, nuclear energy, and structural change provide adequate support for achieving environmental sustainability in the presence of the two mediating variables. In contrast, nonrenewable energy and financial development serve as setbacks in the pursuance of sustainable environment. In addition, robustness checks based on common correlated effects mean group, augmented mean group and quantile regression estimators provide support to show persistence in the CS-ARDL results. Practicable policies enhance the pathway to carbon free environment are suggested for the BRICS economies.
AB - The global economy today is working towards neutralizing greenhouse gas emissions which has been viciously polluted the ecosystem beyond many expectations. Therefore, this study probes how regulatory quality and green innovations intermediate among disintegrated energy resources (renewable, nuclear, and nonrenewable energy), structural change, and financial development to promote environmental sustainability in BRICS. The study relies on recent econometric procedures such as second generation unit root and cointegration tests, homogeneity tests, and cross-sectional autoregressive distributed lag (CS-ARDL) estimation technique using data from 1996 to 2019. The results show how the interventions of regulatory quality and green innovations enhance the effects of other regressors to substantially moderate the surge in GHG emissions. Among others, renewable energy, nuclear energy, and structural change provide adequate support for achieving environmental sustainability in the presence of the two mediating variables. In contrast, nonrenewable energy and financial development serve as setbacks in the pursuance of sustainable environment. In addition, robustness checks based on common correlated effects mean group, augmented mean group and quantile regression estimators provide support to show persistence in the CS-ARDL results. Practicable policies enhance the pathway to carbon free environment are suggested for the BRICS economies.
KW - disintegrated energy
KW - structural change
KW - financial development
KW - regulatory quality
KW - green innovation
KW - environmental sustainability
UR - https://linkinghub.elsevier.com/retrieve/pii/S2213138822005793
U2 - 10.1016/j.seta.2022.102529
DO - 10.1016/j.seta.2022.102529
M3 - Article
SN - 2213-1388
VL - 53
JO - Sustainable Energy Technologies and Assessments
JF - Sustainable Energy Technologies and Assessments
IS - Part B
M1 - 102529
ER -
