Articulating the Role of Technological Innovation and Policy Uncertainty in Energy Efficiency: an Empirical Investigation

Xiaohua Sun (), Danish Khan () and Yubai Zheng ()
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Xiaohua Sun: Department of Economic and Management, Shanghai Technical Institute of Electronics & Information
Danish Khan: Guangdong University of Foreign Studies
Yubai Zheng: Guangdong University of Foreign Studies

Journal of the Knowledge Economy, 2024, vol. 15, issue 3, No 167, 14597-14616

Abstract: Abstract The foremost goal of the Sustainable Development Goals (SDGs) is to increase energy efficiency and stipulate access to developed energy sources. Therefore, it is believed that investing in energy resources is one of the SDGs and one of the main drivers of obtaining affordable and clean energy. To achieve long-term economic growth, energy efficiency must be drastically enhanced. Today, it’s more important than ever to understand what’s holding back progress in energy efficiency. So, the purpose of this paper was to look into the determinants of energy efficiency measures in the United States (US). The study made an effort to pin down the role that technological innovation, economic policy uncertainty, globalization, and research and development (R&D) played in energy efficiency. Using dynamic auto-regressive distributive lag simulation and kernel-based regularized least-squares methods, the long-term equilibrium between the variables from 1985 to 2020 was shown to be stable. Empirical findings confirmed the cointegration relationship among the study’s underlying variables. We find the negative effect of economic policy uncertainty on American energy efficiency. The outcomes of the study have some important policy implications, such as that improved energy efficiency is a byproduct of rising economic output, environmental technologies, and investment in R&D.

Keywords: Energy efficiency; Economic policy uncertainty; Dynamic ARDL and KRLS methods; USA (search for similar items in EconPapers)
JEL-codes: C50 N70 O38 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s13132-023-01628-8

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