TY - JOUR
T1 - Achieving environmental sustainability through renewable energy transition in the Next Eleven countries
T2 - the importance of establishing sound democratic governance
AU - Murshed, Muntasir
AU - Ozturk, Ilhan
AU - Sinha, Avik
AU - Alam, Mohammad Mahtab
N1 - Publisher Copyright:
© The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2024.
PY - 2024/4
Y1 - 2024/4
N2 - The majority of the Next Eleven nations are yet to undergo the renewable energy transition in full swing. Rather, over time, these nations have become even more reliant on fossil fuels. As a result, establishing environmental sustainability is a matter of deep concern for these emerging nations. Against this backdrop, this study assesses the macroeconomic determinants of their annual carbon dioxide emission growth rates considering the period from 1991 to 2020. In a nutshell, the results from the econometric exercises affirm that undergoing renewable energy transition does not inhibit the emission growth rates of the Next Eleven nations unless sound policies are executed for promoting better democratic governance, in tandem. In this regard, improving the state of democratic governance is witnessed to act as a mediating factor between renewable energy transition and lower carbon dioxide emission growth rates. Besides, verifying the pollution haven hypothesis, incoming receipts of foreign direct investment are observed to boost the emission growth figures while liberalizing international trade barriers is found to be ineffective in influencing carbon emission growth rates. Lastly, a complementary relationship between population growth and carbon emission growth rates is affirmed by the results. Hence, considering these above mentioned findings, a set of policies is recommended for enabling the Next Eleven nations to achieve environmental sustainability in due course.
AB - The majority of the Next Eleven nations are yet to undergo the renewable energy transition in full swing. Rather, over time, these nations have become even more reliant on fossil fuels. As a result, establishing environmental sustainability is a matter of deep concern for these emerging nations. Against this backdrop, this study assesses the macroeconomic determinants of their annual carbon dioxide emission growth rates considering the period from 1991 to 2020. In a nutshell, the results from the econometric exercises affirm that undergoing renewable energy transition does not inhibit the emission growth rates of the Next Eleven nations unless sound policies are executed for promoting better democratic governance, in tandem. In this regard, improving the state of democratic governance is witnessed to act as a mediating factor between renewable energy transition and lower carbon dioxide emission growth rates. Besides, verifying the pollution haven hypothesis, incoming receipts of foreign direct investment are observed to boost the emission growth figures while liberalizing international trade barriers is found to be ineffective in influencing carbon emission growth rates. Lastly, a complementary relationship between population growth and carbon emission growth rates is affirmed by the results. Hence, considering these above mentioned findings, a set of policies is recommended for enabling the Next Eleven nations to achieve environmental sustainability in due course.
KW - Carbon dioxide emissions
KW - Democratic governance
KW - Environmental sustainability
KW - O13
KW - P28
KW - Q42
KW - Q52
KW - Renewable energy transition
UR - http://www.scopus.com/inward/record.url?scp=85187466148&partnerID=8YFLogxK
U2 - 10.1007/s10644-024-09595-z
DO - 10.1007/s10644-024-09595-z
M3 - Article
AN - SCOPUS:85187466148
SN - 1573-9414
VL - 57
JO - Economic Change and Restructuring
JF - Economic Change and Restructuring
IS - 2
M1 - 31
ER -