The dynamic effects of green growth, environmental taxes, renewable energy consumption, financial development, and globalization on the load capacity factor in Vietnam: novel findings from wavelet quantile regression

Hoang Thi Xuan (), Nguyen Chi Hai () and Ngo Thai Hung ()
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Hoang Thi Xuan: University of Economics and Law
Nguyen Chi Hai: University of Economics and Law
Ngo Thai Hung: University of Finance-Marketing

Letters in Spatial and Resource Sciences, 2025, vol. 18, issue 1, No 28, 18 pages

Abstract: Abstract This study investigates the interaction between green growth (GG), environmental taxes (ET), financial development (FD), renewable energy consumption (REN), and globalization (GLO) in shaping environmental sustainability in Vietnam. By doing so, we employ advanced econometric techniques, including wavelet quantile regression, the spectral Granger causality test, and quantile-on-quantile regression, which allow us to assess the strength and direction of relationships between the variables across different timescales. The results uncover a significant influence of all regressors on the load capacity factor (LCF) across various periods and frequencies. Specifically, GG, FD, ET, GLO, and REN have positive effects on environmental sustainability across all quantiles and time horizons, with REN making a notable contribution to promoting LCF in Vietnam. Furthermore, the spectral Granger causality results indicate that GLO, GG, and ET predict environmental sustainability in the short run, whereas REN and FD forecast LCF in the long run. These findings have important implications for strengthening sustainability-oriented policies and enhancing renewable energy adoption.

Keywords: Renewable energy; Green growth; Environmental taxes; Financial development; And environmental sustainability (search for similar items in EconPapers)
JEL-codes: H51 O13 Q20 Q56 (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s12076-025-00421-2

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