China Center for Special Economic Zone Research, Shenzhen University, Shenzhen, 518061, China.
Environ Sci Pollut Res Int. 2022 Mar;29(14):20347-20356. doi: 10.1007/s11356-021-17133-x. Epub 2021 Nov 4.
Economic policy uncertainty has increased throughout the world since the previous few decades. Moreover, economic policy uncertainty significantly influences economic activities that may also produce a strong effect on energy consumption. The objective of the study is to investigate the effect of economic policy uncertainty on renewable and non-renewable energy consumption in the case of BRICS countries, for the period 1991-2019. The outcome of the panel NARDL-PMG modeling technique demonstrates that a positive shock in economic policy uncertainty exerts a negative impact on renewable energy consumption and positive impact on non-renewable energy consumption in the short-run and long-run. However, a negative shock in economic policy uncertainty has a positive impact on renewable energy consumption and negative impact on non-renewable energy consumption in the long run, while this effect becomes statistically insignificant in the short run. Numerical elements of long-run results infer that economic policy uncertainty is more influence on renewable energy compared to non-renewable energy consumption in BRICS in long run. On the basis of findings, the study suggests that the authorities should launch such programs that result in shrinking uncertainties linked with economic policy.
经济政策不确定性自前几十年以来在全球范围内不断增加。此外，经济政策不确定性对经济活动有重大影响，可能对能源消耗产生强烈影响。本研究的目的是探讨经济政策不确定性对金砖国家可再生和不可再生能源消费的影响，研究期间为 1991-2019 年。面板 NARDL-PMG 建模技术的结果表明，经济政策不确定性的正冲击在短期和长期内对可再生能源消费产生负面影响，对不可再生能源消费产生正面影响。然而，经济政策不确定性的负冲击在长期内对可再生能源消费产生正面影响，对不可再生能源消费产生负面影响，而在短期内这种影响变得不具有统计学意义。长期结果的数值要素推断，在长期内，经济政策不确定性对金砖国家可再生能源的影响比对不可再生能源消费的影响更大。基于研究结果，本研究建议有关当局应推出相关计划，减少与经济政策相关的不确定性。
