Business School, Guilin University of Electronic Technology, Guilin, Guangxi, China.
Beijing Wuzi University, Beijing, China.
Environ Sci Pollut Res Int. 2022 Jan;29(5):7907-7916. doi: 10.1007/s11356-021-16194-2. Epub 2021 Sep 4.
Last few decades, several economic uncertainty challenges have emerged in the energy market. This study newly contributes to existing research by inspecting the asymmetric effect of economic policy uncertainty and financial development on renewable energy consumption in China. We employ a nonlinear ARDL approach by using a time-series dataset spanning from 1990 to 2019. Our symmetric model shows that economic policy uncertainty matters in the short run, as it increases renewable energy consumption while exhibiting a negative impact on renewable energy in long run in China. Our asymmetric results in the short and long run have deviated from the symmetric results. Our asymmetric results of the short and long run are similar in direction but different in magnitude. The results show that positive change in economic policy uncertainty has increased 3.216% and negative change in economic policy uncertainty has decreased 1.461% in renewable energy consumption in long run in China. Financial development does not matter in renewable energy consumption in China. Based on these outcomes, we can draw some robust economic policies in China as well as for other pollutant economies. Policymakers should be made economic policies more predictable in the modern era.
过去几十年，能源市场出现了若干经济不确定性挑战。本研究通过考察经济政策不确定性和金融发展对中国可再生能源消费的非对称影响，为现有研究做出了新的贡献。我们使用了非线性 ARDL 方法，利用了 1990 年至 2019 年的时间序列数据集。我们的对称模型表明，经济政策不确定性在短期内很重要，因为它会增加可再生能源消费，而在长期内对可再生能源消费产生负面影响。我们的短期和长期非对称结果与对称结果不同。我们的短期和长期非对称结果在方向上相似，但在幅度上不同。结果表明，在中国，经济政策不确定性的正向变化会使可再生能源消费增加 3.216%，而经济政策不确定性的负向变化会使可再生能源消费减少 1.461%。金融发展对中国的可再生能源消费并不重要。基于这些结果，我们可以为中国以及其他污染经济体制定一些稳健的经济政策。在现代，决策者应该使经济政策更具可预测性。
