The alternative energy utilization and common regional trade outlook in EU-27: Evidence from common correlated effects

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dc.authoridhttps://orcid.org/0000-0001-5355-3707en_US
dc.authoridhttps://orcid.org/0000-0003-4948-6905en_US
dc.contributor.authorAdedoyin, Festus Fatai
dc.contributor.authorAlola, Andrew Adewale
dc.contributor.authorBekun, Festus Victor
dc.date.accessioned2023-07-22T04:47:44Z
dc.date.available2023-07-22T04:47:44Z
dc.date.issued2021en_US
dc.departmentİktisadi İdari ve Sosyal Bilimler Fakültesien_US
dc.description.abstractThe role of low-carbon energy and trade on the environment has drawn several studies that have looked at issues from different perspectives, thus yielding differing conclusions. Considering the current emphasis on the COP25 conference and the commitment to cut down carbon emissions level, this study also draws strength from the United Nations Sustainable development Goals (UNSDGs) that comprises of positive strides for access to clean and responsible energy consumption (SDGs 7, 12) and climate change mitigation issues (SDG-13). To this end, this study is a timely outlook that underpins the case of the European Union (EU) countries as well as the root cause of anthropogenic activities on clean trajectory of global environment. Hence, we investigate the connection between alternative and sustainable energy source, trade, income and emissions in 27 selected European Union economies by utilizing data covering the period 1990–2017 on an annual frequency. We used second-generation panel model estimators to analyze the relationship between the variables in the long-run. Specifically, the long run results from the MG (Mean Group), AMG (Augmented Mean Group), and CCEMG (Common Correlated Effects Mean Group) estimators reveal that sustainable and alternative energy sources have a negative significant impact on pollutant emissions while trade and income have a positive impact on carbon emissions except that the impact of trade is insignificant. Although the positive impact of openness in trade on carbon emission is insignificant, the positive impact suggests that the free-trade policy that is currently in place in the EU should further incorporate sustainable development goals (SDGs) to avoid the outsourcing of carbon emissions among the member countries. Causality tests reveal a feedback hypothesis between renewable energy, income, trade, and carbon emanations. The investigation proposes expanded utilization of sustainable power source to mitigate carbon emissions in the European Union.en_US
dc.identifier.doi10.1016/j.rser.2021.111092en_US
dc.identifier.endpage7en_US
dc.identifier.issn1364-0321
dc.identifier.issn1879-0690
dc.identifier.scopus2-s2.0-85104598624en_US
dc.identifier.scopusqualityQ1en_US
dc.identifier.startpage1en_US
dc.identifier.urihttps://hdl.handle.net/11363/5057
dc.identifier.urihttps://doi.org/
dc.identifier.volume145en_US
dc.identifier.wosWOS:000663169400002en_US
dc.identifier.wosqualityQ1en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.indekslendigikaynakScopusen_US
dc.institutionauthorAlola, Andrew Adewale
dc.institutionauthorBekun, Festus Victor
dc.language.isoenen_US
dc.publisherPERGAMON-ELSEVIER SCIENCE LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, ENGLANDen_US
dc.relation.ispartofRenewable and Sustainable Energy Reviewsen_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccess*
dc.rightsAttribution-NonCommercial-NoDerivs 3.0 United States*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/3.0/us/*
dc.subjectRenewable energyen_US
dc.subjectEnvironmental sustainabilityen_US
dc.subjectTradeen_US
dc.subjectIncomeen_US
dc.subjectPollutant emissionsen_US
dc.subjectEuropean unionen_US
dc.titleThe alternative energy utilization and common regional trade outlook in EU-27: Evidence from common correlated effectsen_US
dc.typeArticleen_US

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