Original scientific paper
https://doi.org/10.1080/1331677X.2022.2038228
Does green environmental policy promote renewable energy consumption in BRICST? Fresh insights from panel quantile regression
Xiaolong Li
Ilknur Ozturk
Qasim Raza Syed
Muhammad Hafeez
Sidra Sohail
Abstract
Understanding the aspects of renewable energy consumption is
important because it contains low-carbon emissions, which could
significantly reduce global greenhouse gas emissions. Little
research is done on exploring the factors of renewable energy
consumption. The primary objective of this study is to examine
the impact of the green environmental policy on renewable
energy consumption in the BRICST economies over data ranging
from 1991 and 2019 by using panel quantile regression. The fixedeffects and quantile regressions confirm the positive effects of
economic growth and non-renewable energy on renewable
energy consumption. In contrast, the consumer price index and
CO2 hurt the renewable energy consumption in the BRICST economies. The estimate of the environmental policy stringency appears
to be negative and insignificant in the fixed-effects model. On the
other side, the estimates of the environmental stringency index
appear to be positively significant from the 10th–40th quantiles
and negatively significant from 50th–90th quantiles. Robust policy
implications of our outcomes are also discussed.
Keywords
Environmental stringency policies; renewable energy consumption; BRICST
Hrčak ID:
302874
URI
Publication date:
31.3.2023.
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