International volatility transmission among income, CO2 emission, non-renewable and renewable energy consumption: Which causes which and when?

Research output: Contribution to journalArticlepeer-review

Abstract

This study analyses the evolution of volatility inter-connectedness in the global system of non-renewable and renewable energy consumption, economic growth, and CO2 emission. We find that the spillover effect accounts for a substantial portion of total volatility in this system. In particular, CO2 emission is the major net transmitter of volatility to economic growth. Moreover, this effect is observed to be most prominent for developed and high-income countries. The non-renewable energy sector, on the other hand, is the major net receiver of income volatility, particularly during economic crises and in low-income countries. Our findings suggest that future targets of non-renewable energy production can be implemented to reduce emissions without hampering long-term growth, and economic stability is crucial in fostering renewable energy investments in less developed economies.
Original languageEnglish
Pages (from-to)10061-10071
Number of pages11
JournalEnergy Reports
Volume8
Early online date13 Aug 2022
DOIs
Publication statusE-pub ahead of print - 13 Aug 2022
Externally publishedYes

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