Xu Lijuan, Ullah Sana
School of Economics and Management, Beijing Jiaotong University, Beijing, 100044, China.
School of Economics, Quaid-i-Azam University, Islamabad, Pakistan.
Environ Sci Pollut Res Int. 2023 Apr;30(18):53538-53547. doi: 10.1007/s11356-023-25888-8. Epub 2023 Mar 2.
Policymakers around the globe have used various options for controlling CO2 emissions, among which increasing renewable energy consumption has proved to be the most viable. Consequently, this research attempts to look into the effects of financial efficiency, education, and digitization on renewable energy consumption in China from 1994 to 2020. To estimate the short- and long-run relationship between the variables, we have utilized the QARDL approach. The results suggest that the ICT, financial institutions and market development, education, GDP, and CO2 emissions all help improve renewable energy consumption in China in the long run. In the short run, the ICT, financial institutions and markets, education, GDP, and CO2 emissions all proved to be beneficial in increasing renewable energy consumption. In order to test whether our independent variables have a symmetric or asymmetric impact on renewable energy consumption, the Wald test is applied, which confirms the long-run nonlinear impact of ICT, financial institutions and markets, education, GDP, and CO2 emissions on renewable energy consumption, while the short-run asymmetric impacts are confirmed for a financial institution and GDP only. Therefore, governments should reinforce the amalgamation of digitalization, financial efficiency, and education while formulating policies for renewable energy consumption.
全球政策制定者采用了各种控制二氧化碳排放的方法，其中增加可再生能源消费已被证明是最可行的。因此，本研究试图探讨1994年至2020年期间金融效率、教育和数字化对中国可再生能源消费的影响。为了估计变量之间的短期和长期关系，我们采用了QARDL方法。结果表明，从长期来看，信息通信技术、金融机构和市场发展、教育、国内生产总值以及二氧化碳排放都有助于提高中国的可再生能源消费量。在短期内，信息通信技术、金融机构和市场、教育、国内生产总值以及二氧化碳排放都被证明有利于增加可再生能源消费。为了检验我们的自变量对可再生能源消费是否具有对称或非对称影响，我们应用了Wald检验，结果证实了信息通信技术、金融机构和市场、教育、国内生产总值以及二氧化碳排放在长期对可再生能源消费具有非线性影响，而在短期内，仅金融机构和国内生产总值具有非对称影响。因此，政府在制定可再生能源消费政策时，应加强数字化、金融效率和教育的融合。
