Role of Research and Development Budgets and Socio-economic Conditions for Greener Energy Transition in Emerging Economies: Do Internal and external conflicts matter?

Lu Pan, Fucheng Yang, Chunyang Luo and Jiapeng Dai

Politická ekonomie, 2024, vol. 2024, issue Spec.issue, 278-305

Abstract: In the contemporary times, with the major conflict of the Russo-Ukrainian War, the global economies are facing several challenges and disputes in various economic, energy, and financial sectors. Still, policymakers and scholars are concerned about exploring factors affecting greener energy. The present study examines the impact of research and development (R&D) budgets, financial globalization and socio-economic conditions on greener energy adoption. Besides, this study considers the role of internal and external conflicts on greener energy adoption in the "Emerging Seven" economies during the period 1990-2020. Using various diagnostic and cointegration tests, the results revealed the presence of cross-sectional dependence, heterogeneous slopes and a long-run equilibrium relationship. This study employes panel quantile regression and finds that R&D budgets, financial globalization, socio-economic conditions and internal and external conflicts significantly promote greener energy adoption. Still, the influence of socio-economic conditions is inconsistent across quantiles. Using the autoregressive distributed lag model as a robustness measure, this study validates the positive impact of variables on greener energy adoption, except external conflicts. However, all the variables adversely influence greener energy adoption in the short run. The empirical results also validate bidirectional and unidirectional causal associations of the variables. Following the results, this study recommends further enhancement in the R&D budgets and financial globalization and limiting conflicts in emerging economies.

Keywords: Greener energies; R& D budgets; socio-economic conditions; internal conflicts; external conflicts; financial globalization; emerging economies (search for similar items in EconPapers)
JEL-codes: H50 K20 Q50 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
http://polek.vse.cz/doi/10.18267/j.polek.1425.html (text/html)
http://polek.vse.cz/doi/10.18267/j.polek.1425.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlpol:v:2024:y:2024:i:spec.issue:id:1425:p:278-305

Ordering information: This journal article can be ordered from
Redakce Politické ekonomie, Vysoká škola ekonomická, nám. W. Churchilla 4, 130 67 Praha 3
http://polek.vse.cz

DOI: 10.18267/j.polek.1425

Access Statistics for this article

Politická ekonomie is currently edited by Jiřina Bulisová

More articles in Politická ekonomie from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().