Pub Date : 2022-11-08DOI: 10.1108/ijesm-09-2021-0016
Kaushik Dey, A. Dubey, Seema Sharma
Purpose This paper aims to focus on the contribution of segregated renewable energy (RE) sources such as solar, wind, bagasse, biomass, small hydropower (SHP) and waste to heat in driving sustainable industrial production in India. Design/methodology/approach This study uses non-linear modelling techniques such as quantile regression and the non-linear Granger causality test to explore the interplay between segregated RE generation and industrial production in India. Findings The study findings support the role of segregated RE sources generation, especially SHP and bagasse, on industrial production in India. This paper finds unidirectional non-linear Granger causality running from segregated RE sources to industrial production. Bidirectional non-linear Granger causality has been established from biomass, waste-heat to index of industrial production and vice versa, supporting an asymmetric feedback hypothesis. Research limitations/implications The study findings will aid the energy policymaker in framing policies for RE sources, especially bagasse-based and SHP generation for the sustainable industrial growth of India. Originality/value To the best of the authors’ knowledge, this is one of the first studies to explore the role of segregated RE sources generation to drive sustainable industrial growth in India using non-linear techniques.
{"title":"Can renewable energy drive industrial growth in developing economies? Evidence from India","authors":"Kaushik Dey, A. Dubey, Seema Sharma","doi":"10.1108/ijesm-09-2021-0016","DOIUrl":"https://doi.org/10.1108/ijesm-09-2021-0016","url":null,"abstract":"\u0000Purpose\u0000This paper aims to focus on the contribution of segregated renewable energy (RE) sources such as solar, wind, bagasse, biomass, small hydropower (SHP) and waste to heat in driving sustainable industrial production in India.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses non-linear modelling techniques such as quantile regression and the non-linear Granger causality test to explore the interplay between segregated RE generation and industrial production in India.\u0000\u0000\u0000Findings\u0000The study findings support the role of segregated RE sources generation, especially SHP and bagasse, on industrial production in India. This paper finds unidirectional non-linear Granger causality running from segregated RE sources to industrial production. Bidirectional non-linear Granger causality has been established from biomass, waste-heat to index of industrial production and vice versa, supporting an asymmetric feedback hypothesis.\u0000\u0000\u0000Research limitations/implications\u0000The study findings will aid the energy policymaker in framing policies for RE sources, especially bagasse-based and SHP generation for the sustainable industrial growth of India.\u0000\u0000\u0000Originality/value\u0000To the best of the authors’ knowledge, this is one of the first studies to explore the role of segregated RE sources generation to drive sustainable industrial growth in India using non-linear techniques.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2022-11-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42979487","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-31DOI: 10.1108/ijesm-03-2022-0010
Florence U. Nwafor, E. Kalu, A. Arize, J. Onwumere
Purpose This study aims to investigate in a country-specific comparative and panel form, the impact of energy use on financial development in Organisation of Petroleum Exporting Countries (OPEC)-African countries of Algeria, Gabon, Libya and Nigeria. Design/methodology/approach With data sets covering the period 1980 to 2020, this study used a combination of country-specific autoregressive distributed lag model (ARDL) and panel-ARDL as well geo-maps to show the spatiotemporal nuances of the investigated countries. Findings It was discovered across the investigated countries and in the panel framework that energy consumption significantly impacts both bank development and institutional development, which are subsets of financial development. In addition, evidence in favor of adjustment of financial development to the shocks and dynamics of energy consumption was found. Practical implications Integrative developmental drive for the two sectors can enhance growth and value-chain interactions for the imperatives of the overall growth and development of the OPEC-African countries. Originality/value This study adds to the literature on finance and energy development by the introduction of the spatiotemporal analysis.
{"title":"Spatiotemporal analysis of energy consumption and financial development in African OPEC countries","authors":"Florence U. Nwafor, E. Kalu, A. Arize, J. Onwumere","doi":"10.1108/ijesm-03-2022-0010","DOIUrl":"https://doi.org/10.1108/ijesm-03-2022-0010","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate in a country-specific comparative and panel form, the impact of energy use on financial development in Organisation of Petroleum Exporting Countries (OPEC)-African countries of Algeria, Gabon, Libya and Nigeria.\u0000\u0000\u0000Design/methodology/approach\u0000With data sets covering the period 1980 to 2020, this study used a combination of country-specific autoregressive distributed lag model (ARDL) and panel-ARDL as well geo-maps to show the spatiotemporal nuances of the investigated countries.\u0000\u0000\u0000Findings\u0000It was discovered across the investigated countries and in the panel framework that energy consumption significantly impacts both bank development and institutional development, which are subsets of financial development. In addition, evidence in favor of adjustment of financial development to the shocks and dynamics of energy consumption was found.\u0000\u0000\u0000Practical implications\u0000Integrative developmental drive for the two sectors can enhance growth and value-chain interactions for the imperatives of the overall growth and development of the OPEC-African countries.\u0000\u0000\u0000Originality/value\u0000This study adds to the literature on finance and energy development by the introduction of the spatiotemporal analysis.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2022-10-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41692604","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-18DOI: 10.1108/ijesm-11-2021-0017
Lalatendu Mishra, Rajesh H. Acharya
Purpose This study aims to investigate the relationship between oil prices and stock returns of renewable energy firms in India under different market conditions. Design/methodology/approach The authors use the panel quantile framework with Fama–French–Carhart’s (1997) four-factor asset pricing model. All renewable energy firms listed in the National Stock Exchange of India are considered in this study. Three oil prices, such as West Texas Intermediate spot price, Europe Brent oil price and Indian basket oil price, are used in the regression. The analysis is done for the whole sample and its subgroups. Findings In the whole sample, stock returns of renewable energy firms respond positively to oil price changes in extreme market conditions only. In the subgroups of the renewable energy firms, the relationship between stock returns and oil price is positive and more robust in higher quantiles across all subgroup firms. Originality/value The contribution of the study is explained as follows. First, this study helps to explore the relationship between oil and stock returns of the renewable energy sector under different market conditions in the Indian context. Second, existing studies explore the effect of oil prices on stock returns of the renewable energy sector at the industry level, and most of the studies are in developed countries. To the best of the authors’ knowledge, this is the first study in the context of India. Third, this is a firm-level study
{"title":"Oil price effect on asset pricing of renewable energy firms in India: a panel quantile regression approach","authors":"Lalatendu Mishra, Rajesh H. Acharya","doi":"10.1108/ijesm-11-2021-0017","DOIUrl":"https://doi.org/10.1108/ijesm-11-2021-0017","url":null,"abstract":"\u0000Purpose\u0000This study aims to investigate the relationship between oil prices and stock returns of renewable energy firms in India under different market conditions.\u0000\u0000\u0000Design/methodology/approach\u0000The authors use the panel quantile framework with Fama–French–Carhart’s (1997) four-factor asset pricing model. All renewable energy firms listed in the National Stock Exchange of India are considered in this study. Three oil prices, such as West Texas Intermediate spot price, Europe Brent oil price and Indian basket oil price, are used in the regression. The analysis is done for the whole sample and its subgroups.\u0000\u0000\u0000Findings\u0000In the whole sample, stock returns of renewable energy firms respond positively to oil price changes in extreme market conditions only. In the subgroups of the renewable energy firms, the relationship between stock returns and oil price is positive and more robust in higher quantiles across all subgroup firms.\u0000\u0000\u0000Originality/value\u0000The contribution of the study is explained as follows. First, this study helps to explore the relationship between oil and stock returns of the renewable energy sector under different market conditions in the Indian context. Second, existing studies explore the effect of oil prices on stock returns of the renewable energy sector at the industry level, and most of the studies are in developed countries. To the best of the authors’ knowledge, this is the first study in the context of India. Third, this is a firm-level study\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2022-10-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45573353","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-14DOI: 10.1108/ijesm-09-2021-0007
Sakibu Seidu, D. Owusu-Manu, A. S. Kukah, M. Adesi, E. Oduro-Ofori, D. J. Edwards
Purpose The demand for energy infrastructure projects has increased steadily over the last few decades and has come at a high cost. Disruptive technologies (DTs) have the inherent capability to affect the performance of energy infrastructure projects. Therefore, this research aims to explore the implications of DTs on the performance of energy infrastructure projects. Design/methodology/approach This research adopts a positivist philosophical position. A quantitative strategy and deductive approach (based on a survey design) guided this study. Sixty-six respondents participated in the study. The study’s population comprised of experts in energy infrastructure projects who possessed a high level of industrial experience including top- and middle-level management of power generation companies. Cochran’s formula was used to select a sufficient sample for the study. Linear regression, one sample test and Cronbach’s alpha were the analytical tools adopted. Findings This study established that there is an 18.4% increase in the performance of energy infrastructure projects in Ghana when DTs are applied. In order of importance, DTs improve speed of operations in energy projects; reduce operating cost and enhance efficiency of energy projects; drive sustainable economic development; enhance security in energy projects; and improve environmental sustainability of projects. The study also revealed that e-commerce technologies, renewable energy technologies, three-dimensional printing, bar code technology, photogrammetry, global positioning systems, geographic information systems and nanotechnologies were the topmost ranked DTs with the most impact on the performance of energy infrastructure projects. Originality/value This is a novel investigation on the implications of DTs on the performance of Ghanaian energy infrastructure projects. This study’s practical implication is evident in both policy and practice. Energy sector policymakers should endeavour to adopt DTs in their operations to enhance sustainability and performance.
{"title":"An assessment of the implications of disruptive technologies on the performance of energy infrastructure projects in Ghana","authors":"Sakibu Seidu, D. Owusu-Manu, A. S. Kukah, M. Adesi, E. Oduro-Ofori, D. J. Edwards","doi":"10.1108/ijesm-09-2021-0007","DOIUrl":"https://doi.org/10.1108/ijesm-09-2021-0007","url":null,"abstract":"\u0000Purpose\u0000The demand for energy infrastructure projects has increased steadily over the last few decades and has come at a high cost. Disruptive technologies (DTs) have the inherent capability to affect the performance of energy infrastructure projects. Therefore, this research aims to explore the implications of DTs on the performance of energy infrastructure projects.\u0000\u0000\u0000Design/methodology/approach\u0000This research adopts a positivist philosophical position. A quantitative strategy and deductive approach (based on a survey design) guided this study. Sixty-six respondents participated in the study. The study’s population comprised of experts in energy infrastructure projects who possessed a high level of industrial experience including top- and middle-level management of power generation companies. Cochran’s formula was used to select a sufficient sample for the study. Linear regression, one sample test and Cronbach’s alpha were the analytical tools adopted.\u0000\u0000\u0000Findings\u0000This study established that there is an 18.4% increase in the performance of energy infrastructure projects in Ghana when DTs are applied. In order of importance, DTs improve speed of operations in energy projects; reduce operating cost and enhance efficiency of energy projects; drive sustainable economic development; enhance security in energy projects; and improve environmental sustainability of projects. The study also revealed that e-commerce technologies, renewable energy technologies, three-dimensional printing, bar code technology, photogrammetry, global positioning systems, geographic information systems and nanotechnologies were the topmost ranked DTs with the most impact on the performance of energy infrastructure projects.\u0000\u0000\u0000Originality/value\u0000This is a novel investigation on the implications of DTs on the performance of Ghanaian energy infrastructure projects. This study’s practical implication is evident in both policy and practice. Energy sector policymakers should endeavour to adopt DTs in their operations to enhance sustainability and performance.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2022-10-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48468529","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-06DOI: 10.1108/ijesm-01-2022-0019
N. K. Jain, P. Choudhary, Abinash Panda, Sourabh Jain, P. Dey
Purpose Globally, the oil and gas (OG) industries are under pressure from numerous stakeholders for their sustainable operations against the backdrop of climate change, ecological damage and social challenges. Drawing on the twin theoretical frameworks of the institutional theory and dynamic capability perspective, this study aims to examine the impact of the institutional pressures and dynamic capabilities on the overall sustainability performance of OG industry. Design/methodology/approach This study uses survey method to analyze the responses from 275 middle management professionals of OG industry in India using partial least squares structural equation modeling. Further, focused group discussions with the select industry leaders validate the empirical findings of this study. Findings The research reveals that both institutional pressures and firm’s dynamic capabilities have significant positive impact on its economic and environmental performances in OG sector in India. However, they do not have any impact on social performance, unlike earlier findings. Research limitations/implications The main limitation of the study is generalizability of the findings, given the cross-sectional design of the study. Practical implications Insights of this study will help regulators and policymakers in formulating effective regulatory and policy frameworks, besides creating awareness amongst the organizations to simultaneously focus on all the three aspects of sustainability performance. Originality/value The research has bearing on policy formulation and creating a regulatory ecosystem to ensure overall sustainability performance of OG industry in India.
{"title":"Impact of institutional pressures and dynamic capabilities on sustainability performance of oil and gas sector","authors":"N. K. Jain, P. Choudhary, Abinash Panda, Sourabh Jain, P. Dey","doi":"10.1108/ijesm-01-2022-0019","DOIUrl":"https://doi.org/10.1108/ijesm-01-2022-0019","url":null,"abstract":"\u0000Purpose\u0000Globally, the oil and gas (OG) industries are under pressure from numerous stakeholders for their sustainable operations against the backdrop of climate change, ecological damage and social challenges. Drawing on the twin theoretical frameworks of the institutional theory and dynamic capability perspective, this study aims to examine the impact of the institutional pressures and dynamic capabilities on the overall sustainability performance of OG industry.\u0000\u0000\u0000Design/methodology/approach\u0000This study uses survey method to analyze the responses from 275 middle management professionals of OG industry in India using partial least squares structural equation modeling. Further, focused group discussions with the select industry leaders validate the empirical findings of this study.\u0000\u0000\u0000Findings\u0000The research reveals that both institutional pressures and firm’s dynamic capabilities have significant positive impact on its economic and environmental performances in OG sector in India. However, they do not have any impact on social performance, unlike earlier findings.\u0000\u0000\u0000Research limitations/implications\u0000The main limitation of the study is generalizability of the findings, given the cross-sectional design of the study.\u0000\u0000\u0000Practical implications\u0000Insights of this study will help regulators and policymakers in formulating effective regulatory and policy frameworks, besides creating awareness amongst the organizations to simultaneously focus on all the three aspects of sustainability performance.\u0000\u0000\u0000Originality/value\u0000The research has bearing on policy formulation and creating a regulatory ecosystem to ensure overall sustainability performance of OG industry in India.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2022-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43490074","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-21DOI: 10.1108/ijesm-03-2022-0016
Barbara Deladem Mensah, Abdallah Abdul-Mumuni
Purpose While several existing panel studies have focused on the linear specifications of the effect of remittances and financial development on carbon emissions, nonlinear panel studies on this subject remain thin on the ground. The purpose of this paper is to examine the asymmetric effect of remittances and financial development on carbon emissions in 31 selected sub-Saharan African countries for the period spanning from 1996 to 2018. Design/methodology/approach The Kao, Pedroni and Johansen–Fisher co-integration tests were conducted to ascertain a long-run relationship among the studied variables, whereas the nonlinear panel autoregressive distributed lag approach was applied to account for asymmetries. Findings The study revealed, among other things, that remittances and financial development asymmetrically influence carbon emissions in the selected panel of sub-Saharan African countries. In the long run, the positive shock in remittances on carbon emissions is greater than in the negative shock in remittances. Additionally, both positive and negative shocks in financial development mitigate carbon emissions. Research limitations/implications The implications of this study include the need to provide tax incentives to remitters and encourage them to invest in clean technologies so as to maintain sustainable development and low carbon emissions in the environment. There is also the need for governments and policymakers to formulate policies aimed at improving the functioning of the financial sectors in sub-Saharan Africa. Originality/value The positive and negative shocks of remittances and financial development on carbon emissions are examined to ascertain their asymmetric relationships.
{"title":"Asymmetric effect of remittances and financial development on carbon emissions in sub-Saharan Africa: an application of panel NARDL approach","authors":"Barbara Deladem Mensah, Abdallah Abdul-Mumuni","doi":"10.1108/ijesm-03-2022-0016","DOIUrl":"https://doi.org/10.1108/ijesm-03-2022-0016","url":null,"abstract":"\u0000Purpose\u0000While several existing panel studies have focused on the linear specifications of the effect of remittances and financial development on carbon emissions, nonlinear panel studies on this subject remain thin on the ground. The purpose of this paper is to examine the asymmetric effect of remittances and financial development on carbon emissions in 31 selected sub-Saharan African countries for the period spanning from 1996 to 2018.\u0000\u0000\u0000Design/methodology/approach\u0000The Kao, Pedroni and Johansen–Fisher co-integration tests were conducted to ascertain a long-run relationship among the studied variables, whereas the nonlinear panel autoregressive distributed lag approach was applied to account for asymmetries.\u0000\u0000\u0000Findings\u0000The study revealed, among other things, that remittances and financial development asymmetrically influence carbon emissions in the selected panel of sub-Saharan African countries. In the long run, the positive shock in remittances on carbon emissions is greater than in the negative shock in remittances. Additionally, both positive and negative shocks in financial development mitigate carbon emissions.\u0000\u0000\u0000Research limitations/implications\u0000The implications of this study include the need to provide tax incentives to remitters and encourage them to invest in clean technologies so as to maintain sustainable development and low carbon emissions in the environment. There is also the need for governments and policymakers to formulate policies aimed at improving the functioning of the financial sectors in sub-Saharan Africa.\u0000\u0000\u0000Originality/value\u0000The positive and negative shocks of remittances and financial development on carbon emissions are examined to ascertain their asymmetric relationships.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2022-09-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44126976","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-15DOI: 10.1108/ijesm-04-2022-0002
Arshiya Fathima M.S., H. M. Batcha, Ansari Sarwar Alam
Purpose The purpose of this paper is to identify the factors influencing consumers’ intention to purchase solar energy products (SEPs). Design/methodology/approach The research is based on primary data that has been collected from a total of 351 non-users of SEPs from different cities of Tamil Nadu state (India). Confirmatory factor analysis and structural equation modelling have been used to examine the collected data. Findings Attitude, perceived behavioral control and energy concern variables are significant towards consumers’ purchase intention. However, other variables such as subjective norms and energy awareness were found insignificant. Research limitations/implications The sample size was chosen based on convenience sampling, and the sample was collected from the different cities in Tamil Nadu. As a result, the outcome may not be representative of the whole population. Respondents’ perspectives in one section of India may differ from those in another. Practical implications The findings of this study help policymakers, business experts, marketers, social marketers and energy conservation organizations in gaining a better understanding of consumer behavior. Social implications The outcome of this study will be effective in developing action plans to improve environmental quality through solar products. Originality/value This study has targeted the potential consumers and identified factors that are influencing consumers’ intention to purchase SEP. Therefore, the study’s findings will add value to SEP companies, government and non-government organizations, marketers, academicians and the research community.
{"title":"Factors affecting consumer purchase intention for buying solar energy products","authors":"Arshiya Fathima M.S., H. M. Batcha, Ansari Sarwar Alam","doi":"10.1108/ijesm-04-2022-0002","DOIUrl":"https://doi.org/10.1108/ijesm-04-2022-0002","url":null,"abstract":"\u0000Purpose\u0000The purpose of this paper is to identify the factors influencing consumers’ intention to purchase solar energy products (SEPs).\u0000\u0000\u0000Design/methodology/approach\u0000The research is based on primary data that has been collected from a total of 351 non-users of SEPs from different cities of Tamil Nadu state (India). Confirmatory factor analysis and structural equation modelling have been used to examine the collected data.\u0000\u0000\u0000Findings\u0000Attitude, perceived behavioral control and energy concern variables are significant towards consumers’ purchase intention. However, other variables such as subjective norms and energy awareness were found insignificant.\u0000\u0000\u0000Research limitations/implications\u0000The sample size was chosen based on convenience sampling, and the sample was collected from the different cities in Tamil Nadu. As a result, the outcome may not be representative of the whole population. Respondents’ perspectives in one section of India may differ from those in another.\u0000\u0000\u0000Practical implications\u0000The findings of this study help policymakers, business experts, marketers, social marketers and energy conservation organizations in gaining a better understanding of consumer behavior.\u0000\u0000\u0000Social implications\u0000The outcome of this study will be effective in developing action plans to improve environmental quality through solar products.\u0000\u0000\u0000Originality/value\u0000This study has targeted the potential consumers and identified factors that are influencing consumers’ intention to purchase SEP. Therefore, the study’s findings will add value to SEP companies, government and non-government organizations, marketers, academicians and the research community.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2022-09-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46252920","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-13DOI: 10.1108/ijesm-04-2022-0018
Nurcan Kilinc-Ata, I. Dolmatov
Purpose The Russian Federation is one of the world’s largest exporters of fossil-based energy sources such as oil, natural gas and coal. Approximately 90% of the energy production in the Russian Federation consists of oil, natural gas and coal. Renewable energy (RE) in the Russian Federation mainly comprises hydroelectric energy. The purpose of this paper is to identify the factors that influenced the growth of RE resources in the Russian Federation between 1990 and 2020. Design/methodology/approach The unit root tests augmented Dickey and Fuller and Phillips and Perron, as well as Johansen cointegration and Granger causality approaches, were used. This study was conducted using vector error correction models for the years 1990–2020. Findings The cointegration method's findings demonstrate that while a rise in non-RE sources has a negative impact on RE development, an increase in income, energy consumption, trade openness and CO2 emissions has a favorable impact on RE expansion. The vector error correction model Granger causality test also shows a unidirectional relationship between RE and non-RE sources, gross domestic product, energy consumption and CO2 emissions. Trade openness, on the other hand, has no causal association with RE. Practical implications The Russian Federation must consider the practical implications of RE sources. However, there is a greater need for the Russian Federation to frame sound energy policies for RE development. Originality/value This paper aims to fill a gap in the literature on Russian RE development. Furthermore, the results of the methodological analysis can be used to guide policymakers in the field of RE development. This paper is also more policy-relevant and is quite useful in the context of sustainable energy development.
{"title":"The Russian Federation's renewable energy development determinants: evidence from empirical research","authors":"Nurcan Kilinc-Ata, I. Dolmatov","doi":"10.1108/ijesm-04-2022-0018","DOIUrl":"https://doi.org/10.1108/ijesm-04-2022-0018","url":null,"abstract":"\u0000Purpose\u0000The Russian Federation is one of the world’s largest exporters of fossil-based energy sources such as oil, natural gas and coal. Approximately 90% of the energy production in the Russian Federation consists of oil, natural gas and coal. Renewable energy (RE) in the Russian Federation mainly comprises hydroelectric energy. The purpose of this paper is to identify the factors that influenced the growth of RE resources in the Russian Federation between 1990 and 2020.\u0000\u0000\u0000Design/methodology/approach\u0000The unit root tests augmented Dickey and Fuller and Phillips and Perron, as well as Johansen cointegration and Granger causality approaches, were used. This study was conducted using vector error correction models for the years 1990–2020.\u0000\u0000\u0000Findings\u0000The cointegration method's findings demonstrate that while a rise in non-RE sources has a negative impact on RE development, an increase in income, energy consumption, trade openness and CO2 emissions has a favorable impact on RE expansion. The vector error correction model Granger causality test also shows a unidirectional relationship between RE and non-RE sources, gross domestic product, energy consumption and CO2 emissions. Trade openness, on the other hand, has no causal association with RE.\u0000\u0000\u0000Practical implications\u0000The Russian Federation must consider the practical implications of RE sources. However, there is a greater need for the Russian Federation to frame sound energy policies for RE development.\u0000\u0000\u0000Originality/value\u0000This paper aims to fill a gap in the literature on Russian RE development. Furthermore, the results of the methodological analysis can be used to guide policymakers in the field of RE development. This paper is also more policy-relevant and is quite useful in the context of sustainable energy development.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2022-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42066761","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-13DOI: 10.1108/ijesm-05-2022-0018
B. Gyamfi, P. Kwakwa, T. Adebayo
Purpose The International Energy Agency states that the global energy intensity must reduce by 2.9% yearly before attaining Sustainable Development Goal 7.3 by 2030. However, the European Union (EU) seeking to attain a climate-neutral EU by 2050 shall require a substantial rate of reducing energy intensity. Consequently, this study aims to investigate how (clean) renewable energy, income, trade openness, technological innovation and nonrenewable energy consumption impact energy intensity for the EU countries. Design/methodology/approach The quantile regression, augmented mean group and causality techniques were used for analyses. Panel data for 26 EU nations over the 1990 and 2019 period was used. Findings The empirical evidence indicates that the variables have long-run equilibrium relationships. However, the analysis revealed that clean energy and income reduce energy intensity whiles trade, technological innovation and nonrenewable energy consumption increase energy intensity. An interactive term analysis shows that renewable energy and trade interact to reduce further, the negative effect of income on energy intensity. Causality results revealed a feedback connection between energy intensity and clean energy, income, trade liberalization as well as the interaction between income and trade liberalization. A one-way causality was obtained between energy intensity and technological innovation, nonrenewable energy consumption and the interaction between clean energy and income. Practical implications The results imply that EU countries stand to gain if more resources are committed to encouraging the production and consumption of cleaner/renewable energy. Advancement in policies that support renewable energy and facilitate green growth will help reduce energy intensity for the region. Trade policies that promote lower energy consumption should be strengthened. Originality/value The effect of renewable energy on energy intensity is assessed. The moderating impact of renewable energy and trade openness on the income–energy intensity relationship for the EU countries is examined. Moreover, this study uses the quantile estimation technique to assess the nonlinear effect of the explanatory variables on energy intensity.
{"title":"Energy intensity among European Union countries: the role of renewable energy, income and trade","authors":"B. Gyamfi, P. Kwakwa, T. Adebayo","doi":"10.1108/ijesm-05-2022-0018","DOIUrl":"https://doi.org/10.1108/ijesm-05-2022-0018","url":null,"abstract":"\u0000Purpose\u0000The International Energy Agency states that the global energy intensity must reduce by 2.9% yearly before attaining Sustainable Development Goal 7.3 by 2030. However, the European Union (EU) seeking to attain a climate-neutral EU by 2050 shall require a substantial rate of reducing energy intensity. Consequently, this study aims to investigate how (clean) renewable energy, income, trade openness, technological innovation and nonrenewable energy consumption impact energy intensity for the EU countries.\u0000\u0000\u0000Design/methodology/approach\u0000The quantile regression, augmented mean group and causality techniques were used for analyses. Panel data for 26 EU nations over the 1990 and 2019 period was used.\u0000\u0000\u0000Findings\u0000The empirical evidence indicates that the variables have long-run equilibrium relationships. However, the analysis revealed that clean energy and income reduce energy intensity whiles trade, technological innovation and nonrenewable energy consumption increase energy intensity. An interactive term analysis shows that renewable energy and trade interact to reduce further, the negative effect of income on energy intensity. Causality results revealed a feedback connection between energy intensity and clean energy, income, trade liberalization as well as the interaction between income and trade liberalization. A one-way causality was obtained between energy intensity and technological innovation, nonrenewable energy consumption and the interaction between clean energy and income.\u0000\u0000\u0000Practical implications\u0000The results imply that EU countries stand to gain if more resources are committed to encouraging the production and consumption of cleaner/renewable energy. Advancement in policies that support renewable energy and facilitate green growth will help reduce energy intensity for the region. Trade policies that promote lower energy consumption should be strengthened.\u0000\u0000\u0000Originality/value\u0000The effect of renewable energy on energy intensity is assessed. The moderating impact of renewable energy and trade openness on the income–energy intensity relationship for the EU countries is examined. Moreover, this study uses the quantile estimation technique to assess the nonlinear effect of the explanatory variables on energy intensity.\u0000","PeriodicalId":46430,"journal":{"name":"International Journal of Energy Sector Management","volume":" ","pages":""},"PeriodicalIF":3.1,"publicationDate":"2022-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41938517","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-12DOI: 10.1108/ijesm-04-2022-0015
B. Osei, M. Kunawotor, Evans Kulu
Purpose The purpose of this paper is to undertake comparative analysis examining the effect of renewable energy production on employment focusing on European and Asian Countries. Design/methodology/approach The study utilizes panel data from the period 2000 to 2018 and System Generalized Method of Moments (System GMM) for the analysis. This study focuses on 50 European and 40 Asian countries data used for the analysis. Findings The result of the study indicates that, renewal energy production has positively affected employment in both European and Asian countries. However, the positive effect result of European countries is stronger than that of Asian countries. Practical implications The study recommends that, governments among these countries should continue to show strong commitment towards investing in renewable energy production as stated in Paris Agreement (2015). This will have a strong effect towards increasing further employment creation among these countries. Originality/value Numerous empirical studies have been carried out examining the effect of renewable energy production on employment. This study contributes to existing empirical studies by undertaking comparative analysis to examine the subject matter focusing on European and Asian countries.
本文的目的是进行比较分析，以欧洲和亚洲国家为重点，研究可再生能源生产对就业的影响。设计/方法/方法本研究利用2000年至2018年的面板数据和系统广义矩量法(System Generalized Method of Moments, System GMM)进行分析。这项研究的重点是50个欧洲国家和40个亚洲国家的数据用于分析。研究结果表明，可再生能源生产对欧洲和亚洲国家的就业都有积极的影响。但是，欧洲国家的积极效应效果强于亚洲国家。该研究建议，这些国家的政府应继续表现出对投资可再生能源生产的坚定承诺，正如《巴黎协定》(2015)所述。这将对进一步增加这些国家的就业产生强有力的影响。已有大量实证研究考察了可再生能源生产对就业的影响。本研究以欧洲和亚洲国家为研究对象，对已有的实证研究进行了比较分析。
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