The impacts of R&D investment and stock markets on clean energy uses and CO2 emissions in a panel of OECD economies
Journal article
| Authors | Apergis, Nicholas, Alam, Md. Samsul, Paramati, Sudharshan Reddy and Fang, Jianchun |
|---|---|
| Abstract | The goal of this paper is to examine to what extent R&D investment and stock market development promote clean energy consumption and environmental protection across a panel of 30 OECD economies. Based on the IPAT theoretical approach, study employs robust panel econometric models which account for cross-sectional dependence in the analysis and uses annual data, spanning the period 1996 to 2013. The empirical results illustrate that R&D and stock market have a significant long-run equilibrium relationship with clean energy and CO2 emissions. The long-run elasticities display that R&D and stock market growth have a significant positive impact on clean energy consumption, while they have a negative effect on the growth of CO2 emissions. Given these findings, the paper suggests that the policy makers in the OECD economies should realize that it is worth investing in R&D activities as it is promoting the use of clean energy and ensuring low carbon economies. Therefore, the policymakers have to initiate effective policies to promote R&D activities and also encourage the firms that are listed in the stock market to adopt environmental friendly policies. |
| Keywords | Research Subject Categories::SOCIAL SCIENCES; R&D investment; stock market; clean energy; econometric models |
| Year | 2020 |
| Journal | International Journal of Finance and Economics |
| Publisher | Wiley |
| ISSN | 1076-9307 |
| 1099-1158 | |
| Digital Object Identifier (DOI) | https://doi.org/10.1002/ijfe.2049 |
| Web address (URL) | http://hdl.handle.net/10545/625165 |
| http://creativecommons.org/licenses/by-nc-nd/4.0/ | |
| hdl:10545/625165 | |
| Publication dates | 14 Sep 2020 |
| Publication process dates | |
| Deposited | 16 Sep 2020, 14:03 |
| Accepted | 18 Jun 2020 |
| Rights | Attribution-NonCommercial-NoDerivatives 4.0 International |
| Contributors | University of Derby, De Montfort University, University of Dundee and Zhejiang University of Technology |
| File | File Access Level Open |
| File | File Access Level Open |
| File |
https://repository.derby.ac.uk/item/947z3/the-impacts-of-r-d-investment-and-stock-markets-on-clean-energy-uses-and-co2-emissions-in-a-panel-of-oecd-economies
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