Export diversification, energy consumption, economic growth and environmental degradation: evidence from Oman

Export diversification's role in reducing environmental degradation, especially in oil-dependent countries, has been overlooked. This study investigated the effect of export diversification, along with energy consumption and economic growth as important control variables, on CO 2 emissions and...

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Bibliographic Details
Published in:International journal of ambient energy 2022-12, Vol.43 (1), p.8486-8504
Main Authors: Saboori, Behnaz, Zaibet, Lokman, Boughanmi, Houcine
Format: Article
Language:English
Subjects:
ecological footprint
EKC hypothesis
energy consumption
Export product diversification
Oman
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Summary:Export diversification's role in reducing environmental degradation, especially in oil-dependent countries, has been overlooked. This study investigated the effect of export diversification, along with energy consumption and economic growth as important control variables, on CO 2 emissions and ecological footprint in Oman from 1984 to 2014 by employing the Autoregressive Distributed Lag (ARDL) model. To ensure the stability of the model, robust long-run relationship estimators including Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) were used. The results suggest that export diversification has a positive impact on Oman's environmental degradation. A positive effect of energy on both environmental indicators was found, with a lower effect on CO 2 emissions. Diversification of exports is strongly recommended in Oman by shifting to more energy-efficient, environmentally friendly, and high-tech industries.
ISSN:0143-0750
2162-8246
DOI:10.1080/01430750.2022.2091026