Promoting Environmental Sustainability: The Role of Renewable Energy Systems and Environmental Taxes
Abstract
:1. Introduction
2. Literature Review
3. Research Methodology
3.1. Variables
3.2. Model
4. Results and Discussion
4.1. Basic Statistical Analysis
4.2. Long- and Short-Run Effects Analysis
4.3. Discussion
5. Conclusions
Funding
Institutional Review Board Statement
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Variable | Form | Definition |
---|---|---|
Carbon dioxide emissions | ca | CO2 emissions (kt) in log |
Renewable energy | re | Renewable energy consumption (% of total final energy consumption) |
Environmental tax | en | Environmental taxes are environmentally related tax revenues (% of GDP) |
Green finance | gr | Proportion of green credit extended to the private sector as a percentage of GDP |
Industrialization | in | Proportion of industrial value added as a percentage of GDP |
Foreign direct investment | Foreign direct investment, net inflows (% of GDP) | |
Urbanization | Proportion of the total population residing in urban areas | |
Economic growth | GDP (constant 2015 USD; unit: billion USD) in log |
Variable | ||||||||
---|---|---|---|---|---|---|---|---|
ca | 1.000 | |||||||
re | −0.329 *** | 1.000 | ||||||
en | −0.237 ** | 0.103 | 1.000 | |||||
gr | −0.194 ** | 0.097 ** | 0.195 | 1.000 | ||||
in | 0.243 *** | 0.159 | −0.118 ** | 0.213 * | 1.000 | |||
fdi | −0.113 * | 0.303 | −0.106 *** | −0.245 | 0.467 ** | 1.000 | ||
ur | 0.259 *** | 0.143 * | −0.094 | 0.187 | 0.231 | 0.106 | 1.000 | |
ec | 0.502 ** | 0.238 *** | −0.173 *** | 0.432 *** | 0.386 *** | 0.268 ** | 0.211 ** | 1.000 |
Variable | Statistical Value |
---|---|
ca | 5.035 *** |
re | 7.871 *** |
en | 8.122 *** |
gr | 5.664 *** |
in | 8.716 *** |
fdi | 6.663 *** |
ur | 5.141 *** |
ec | 4.538 *** |
Variable | CIPS Test | M-CIPS Test | ||
---|---|---|---|---|
Level | 1st Level | Level | 1st Level | |
ca | −1.277 | −2.968 *** | −1.007 | −3.813 *** |
re | −1.693 | −4.117 *** | −1.647 | −5.093 *** |
en | −2.719 *** | −3.515 *** | −3.013 *** | −4.453 *** |
gr | 1.401 | 4.933 *** | 1.357 | 5.739 *** |
in | −1.329 | −7.323 *** | −1.442 | −7.946 *** |
fdi | 1.158 | 6.849 *** | 1.163 | 6.334 *** |
ur | −4.964 *** | −7.425 *** | −4.117 *** | −7.082 *** |
ec | 0.937 | 6.148 *** | 1.061 | 6.464 *** |
Test Method | Without Break | Mean Shift | Regime Shift |
---|---|---|---|
−8.259 *** | −7.973 *** | −7.764 *** | |
p-value | 0.000 | 0.000 | 0.000 |
−7.505 *** | −7.106 *** | −7.291 *** | |
p-value | 0.000 | 0.000 | 0.000 |
Variable | Long-Run Effects |
re | −0.258 *** (−5.474) |
en | −0.175 *** (−4.369) |
gr | −0.126 ** (−2.129) |
in | 0.418 *** (7.296) |
fdi | −0.101 * (−1.857) |
ur | 0.506 *** (2.897) |
ec | 0.671 *** (3.855) |
Cross-sectional dependency statistics | 0.069 (0.788) |
Variable | Short-Run Effects |
re | −0.292 *** (−5.611) |
en | −0.169 *** (−4.263) |
gr | −0.141 ** (−2.051) |
in | 0.453 *** (6.947) |
fdi | −0.065 * (−1.785) |
ur | 0.528 *** (3.168) |
ec | 0.806 *** (3.629) |
ect−1 | −0.032 *** (−3.092) |
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He, Y. Promoting Environmental Sustainability: The Role of Renewable Energy Systems and Environmental Taxes. Appl. Sci. 2024, 14, 7404. https://doi.org/10.3390/app14167404
He Y. Promoting Environmental Sustainability: The Role of Renewable Energy Systems and Environmental Taxes. Applied Sciences. 2024; 14(16):7404. https://doi.org/10.3390/app14167404
Chicago/Turabian StyleHe, Yugang. 2024. "Promoting Environmental Sustainability: The Role of Renewable Energy Systems and Environmental Taxes" Applied Sciences 14, no. 16: 7404. https://doi.org/10.3390/app14167404