Energy consumption, finance, and climate change: Does policy uncertainty matter?

Francis Atsu and Samuel Adams

Economic Analysis and Policy, 2021, vol. 70, issue C, 490-501

Abstract: The study examined the long run relationship of energy consumption, financial development and economic policy uncertainty for the BRICS countries (Brazil, Russia, India, China and South Africa) over the period 1984–2017. Using cross-sectionally augmented ARDL (CS-ARDL) and Fully Modified Ordinary Least Squares (FMOLS) estimation techniques, the findings of the study reveal that fossil fuel consumption and policy uncertainty contribute to CO2 emissions, while renewable energy, bureaucratic quality, and financial development mitigate CO2 emissions. The findings of the study show the importance of promoting economic policy that encourages innovation and stimulate capital investment in energy efficiency technology to reduce CO2 emissions.

Keywords: Climate change; Policy uncertainty; Innovation; Government policy; CO2 emissions; Finance (search for similar items in EconPapers)
JEL-codes: O38 O44 Q48 Q55 Q58 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (38)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecanpo:v:70:y:2021:i:c:p:490-501

DOI: 10.1016/j.eap.2021.03.013

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