Nexus between CO2 emission, renewable energy, trade openness and foreign direct investment, and output volatility

Chinmaya Behera (), Ranjan Kumar Mohanty (), Biswashree Tanaya Priyadarsini () and Debasis Patnaik ()
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Chinmaya Behera: Goa Institute of Management
Ranjan Kumar Mohanty: Xavier Institute of Management, XIM University
Biswashree Tanaya Priyadarsini: BITS Pilani
Debasis Patnaik: BITS Pilani

Economic Change and Restructuring, 2024, vol. 57, issue 5, No 1, 25 pages

Abstract: Abstract In the pursuit of sustainable economic development, this study investigates the nexus between carbon emissions, renewable energy utilization, trade openness, foreign direct investment and output volatility across selected East Asia–Pacific nations. Employing advanced ARDL bound tests, our results reveal a robust long-term relationship among these selected variables. Notably, our findings underscore the significant impact of carbon emissions on output volatility across all examined nations, except for Malaysia. Moreover, the study highlights the positive impact of renewable energy on output volatility, signaling a compelling imperative for policymakers to prioritize initiatives aimed at curbing carbon emissions and fostering the widespread adoption of renewable energy sources.

Keywords: Renewable energy; FDI; Carbon emission; Output volatility; Trade openness (search for similar items in EconPapers)
JEL-codes: B22 B27 F64 (search for similar items in EconPapers)
Date: 2024
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DOI: 10.1007/s10644-024-09736-4

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