{"title":"The role of financial development, natural resources, and technology in determining green energy: New findings from the N‐11 countries","authors":"Yi Tao, Weixin Wang","doi":"10.1111/1477-8947.12524","DOIUrl":null,"url":null,"abstract":"In recent years, there has been a growing global emphasis on transitioning to renewable energy sources to mitigate the effects of climate change and promote sustainable development. The role of financial development, natural resources, and technology in determining the advancement of green energy has been a subject of ongoing research. This study examines the impact of financial development, natural resources, and technology on green energy development in N‐11 countries between 1990 and 2022, using economic growth and education as control variables. The empirical estimations are based on cross‐section dependence, testing for slope heterogeneity, second‐generation panel unit root tests, LM‐Bootstrap cointegration tests, fully modified ordinary least squares, and dynamic ordinary least squares. A 1% increase in natural resources is associated with a 0.0615% increase in the adoption of green energy. A 1% increase in education leads to a statistically significant increase of 1.0734% in the adoption of green energy financial development enables the deployment of renewable energy sources and access to financial resources. Natural resources determine the types of renewable energy technologies that are prioritized. Technological advancements drive the growth of renewable energy technologies and facilitate their integration into the energy mix. By analyzing the findings of recent studies on the N‐11 countries, we can gain valuable insights into the importance of these factors in advancing green energy and achieving sustainable energy development.","PeriodicalId":49777,"journal":{"name":"Natural Resources Forum","volume":null,"pages":null},"PeriodicalIF":3.5000,"publicationDate":"2024-07-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Natural Resources Forum","FirstCategoryId":"90","ListUrlMain":"https://doi.org/10.1111/1477-8947.12524","RegionNum":4,"RegionCategory":"社会学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ENVIRONMENTAL SCIENCES","Score":null,"Total":0}
引用次数: 0
Abstract
In recent years, there has been a growing global emphasis on transitioning to renewable energy sources to mitigate the effects of climate change and promote sustainable development. The role of financial development, natural resources, and technology in determining the advancement of green energy has been a subject of ongoing research. This study examines the impact of financial development, natural resources, and technology on green energy development in N‐11 countries between 1990 and 2022, using economic growth and education as control variables. The empirical estimations are based on cross‐section dependence, testing for slope heterogeneity, second‐generation panel unit root tests, LM‐Bootstrap cointegration tests, fully modified ordinary least squares, and dynamic ordinary least squares. A 1% increase in natural resources is associated with a 0.0615% increase in the adoption of green energy. A 1% increase in education leads to a statistically significant increase of 1.0734% in the adoption of green energy financial development enables the deployment of renewable energy sources and access to financial resources. Natural resources determine the types of renewable energy technologies that are prioritized. Technological advancements drive the growth of renewable energy technologies and facilitate their integration into the energy mix. By analyzing the findings of recent studies on the N‐11 countries, we can gain valuable insights into the importance of these factors in advancing green energy and achieving sustainable energy development.
期刊介绍:
Natural Resources Forum, a United Nations Sustainable Development Journal, focuses on international, multidisciplinary issues related to sustainable development, with an emphasis on developing countries. The journal seeks to address gaps in current knowledge and stimulate policy discussions on the most critical issues associated with the sustainable development agenda, by promoting research that integrates the social, economic, and environmental dimensions of sustainable development. Contributions that inform the global policy debate through pragmatic lessons learned from experience at the local, national, and global levels are encouraged.
The Journal considers articles written on all topics relevant to sustainable development. In addition, it dedicates series, issues and special sections to specific themes that are relevant to the current discussions of the United Nations Commission on Sustainable Development (CSD). Articles must be based on original research and must be relevant to policy-making.
Criteria for selection of submitted articles include:
1) Relevance and importance of the topic discussed to sustainable development in general, both in terms of policy impacts and gaps in current knowledge being addressed by the article;
2) Treatment of the topic that incorporates social, economic and environmental aspects of sustainable development, rather than focusing purely on sectoral and/or technical aspects;
3) Articles must contain original applied material drawn from concrete projects, policy implementation, or literature reviews; purely theoretical papers are not entertained.