Impact of Nuclear and Renewable Energy on CO₂ Emissions in OECD countries Under the STIRPAT model: Evidence from the CS-ARDL Model

In-depth evaluations of the short- and long-term effects of nuclear and renewable energy on emissions of carbon dioxide in 12 OECD countries are made in this study using the STIRPAT model. Using yearly data for the years 1980 to 2020, the CIPS unit root test, taking into account cross-sectional dependency (CD), Gengenbach et al. (2016) co-integration test, and Cross-Sectional Augmented Autoregressive Distributed Lag (CS-ARDL) technique are used. Additionally, the Dumitrescu-Hurlin (DH) panel causality tests are used for seeking the causal connections between variables. The empirical findings from the CS-ARDL approach demonstrate that CO(2 )emissions are negatively impacted both in the short and long terms by nuclear and renewable energy. The CS-ARDL results also show that the long-run elasticity of economic growth is lower than the short-run elasticity, and that growing populations increases CO2 emissions both in the short and long runs. According to the DH panel's findings on causality, there is only one way that economic development, CO2 emissions, and nuclear energy output are related. These findings suggest that the OECD should concentrate on income-oriented policies, promote green economic growth, and subsidize greater nuclear and renewable energy consumption through

Journal

INTERNATIONAL JOURNAL OF CONTEMPORARY ECONOMICS AND ADMINISTRATIVE SCIENCES

Year

2024

Volume

14

Issue

1

Pages

258-283

ISSN

1925-4423

DOI

10.5281/zenodo.3928983

WoS UID

WOS:001343430800014