Abstract
Energy consumption is widely regarded as the primary driver of economic development and environmental degradation. The current study examines how energy use is related to technological innovation, human resources, energy pricing, economic development, and trade openness. For this context, the data set of OECD economies’ indicators as mentioned above has been compiled for the period 1991–2019. Three estimators were used in this study from the family of autoregressive distributed lag (ARDL): the mean group (MG), the dynamic fixed effect (DFE), and the pooled mean group (PMG). According to empirical research, technical advances, human resources, and energy pricing all have a negative impact on OECD countries’ long-run energy consumption. In the short term, however, these variables have a negligible or inverse effect on energy consumption. On the other hand, economic growth and trade openness in OECD economies all contribute positively to energy demand in the short and long run. Based on the empirical findings, this study recommends a policy structure for emerging economies.
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The datasets used and/or analyzed during the current study are available from the corresponding author on reasonable request.
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This work is funded by “Strategy Research on Using Big Data to improve Government’s Governance (GXZKLM-2019-08)” and “Research on the Target Index of Economic and Social Development Planning of Guangxi Zhuang Autonomous Region in the “14th Five-Year Plan” Period (GXZC2019-24891-GXYL)”
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This research paper contributed by the abovementioned authors in the following way: the conceptualization, done by Teng Su and Abdul Qayyum; methodology, form by Ishtiaq Ahmad; software and validation; formal analysis performed by Weihua Yin; investigation, resources, data curation, performed by Saeed ur Rahman; writing–original draft preparation done by Rana Muhammed Adeel-Farooq; writing–review and editing; visualization, and supervision by Teng Su.
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Su, T., Ahmad, I., Qayyum, A. et al. Role of economic growth and innovative technologies in the outlook of energy and environmental efficiency: a way forward for developing Asian economies. Environ Sci Pollut Res 28, 66930–66940 (2021). https://doi.org/10.1007/s11356-021-14410-7
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DOI: https://doi.org/10.1007/s11356-021-14410-7