Energy consumption, finance, and climate change: Does policy uncertainty matter?

By Francis Atsu, Samuel Olorunfemi Adams. 2021

144 citations recorded by the source corpus.

Abstract The study examined the long run relationship of energy consumption, financial development and economic policy uncertainty for the BRICS countries (Brazil, Russia, India, China and South Africa) over the period 1984 - 2017. Using cross-sectionally augmented ARDL (CS-ARDL) and Fully Modified Ordinary Least Squares (FMOLS) estimation techniques, the findings of the study reveal that fossil fuel consumption and policy uncertainty contribute to CO2 emissions, while renewable energy, bureaucratic quality, and financial development mitigate CO2 emissions. The findings of the study show the importance of promoting economic policy that encourages innovation and stimulate capital investment in energy efficiency technology to reduce CO2 emissions.

Subfields: Economics and Econometrics, Renewable Energy, Sustainability and the Environment

View Paper: https://www.semanticscholar.org/paper/ec66e935355dbb075857e458565fed48ca353187