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Old wine in a new bottle: Applying the novel dynamic ARDL simulations approach to explore the impact of energy efficiency, financial development, economic growth, foreign direct investment, and urbanization on CO2 emissions
Achieving carbon neutrality targets is crucial while considering the adverse impacts of carbon dioxide emissions (CE) on human life and the ecosystem. Therefore, its socioeconomic drivers have frequently been probed in the existing body of literature. Therefore, we investigate the impact of energy e...
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| Published in: | Environmental science and pollution research international 2024-07, Vol.31 (34), p.46266-46280 |
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| Main Authors: | , , , , |
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| container_end_page | 46280 |
| container_issue | 34 |
| container_start_page | 46266 |
| container_title | Environmental science and pollution research international |
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| creator | Guo, Qingran Wu, Zhuo Lien, Duong Thi Quynh Cong, Phan The Ahmed, Israr |
| description | Achieving carbon neutrality targets is crucial while considering the adverse impacts of carbon dioxide emissions (CE) on human life and the ecosystem. Therefore, its socioeconomic drivers have frequently been probed in the existing body of literature. Therefore, we investigate the impact of energy efficiency, FDI, financial development, urbanization, and economic growth on CE in Pakistan from 1975 to 2020. For this purpose, we apply the novel dynamic ARDL simulation approach to retrieve the short- and long-run estimates. The empirical results confirm that cointegration exists among the considered variables. Further, both the short- and long-run results reveal that energy efficiency impedes emissions, whereas urbanization, financial development, and FDI increase emissions. Considering the outcomes, there is a need to enhance energy efficiency in Pakistan. For this purpose, investment in technological advancements and innovations is required. Moreover, R&D in the energy sector should be promoted.
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| doi_str_mv | 10.1007/s11356-023-29405-9 |
| format | article |
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Therefore, its socioeconomic drivers have frequently been probed in the existing body of literature. Therefore, we investigate the impact of energy efficiency, FDI, financial development, urbanization, and economic growth on CE in Pakistan from 1975 to 2020. For this purpose, we apply the novel dynamic ARDL simulation approach to retrieve the short- and long-run estimates. The empirical results confirm that cointegration exists among the considered variables. Further, both the short- and long-run results reveal that energy efficiency impedes emissions, whereas urbanization, financial development, and FDI increase emissions. Considering the outcomes, there is a need to enhance energy efficiency in Pakistan. For this purpose, investment in technological advancements and innovations is required. Moreover, R&D in the energy sector should be promoted.
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| subjects | (Geo)Political Risk Aquatic Pollution Atmospheric Protection/Air Quality Control/Air Pollution Carbon dioxide Carbon dioxide emissions Climate change Earth and Environmental Science Economic development Economic growth Economic Uncertainty Economics Ecotoxicology Emissions Energy consumption Energy efficiency Energy industry Environment Environmental Chemistry Environmental Health Environmental impact Environmental science Financial services Foreign investment Global warming Greenhouse gases Pollution Simulation Socioeconomic factors Sustainable development Sustainable Development Goals Urbanization Waste Water Technology Water Management Water Pollution Control |
| title | Old wine in a new bottle: Applying the novel dynamic ARDL simulations approach to explore the impact of energy efficiency, financial development, economic growth, foreign direct investment, and urbanization on CO2 emissions |
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