Do trade openness, environmental degradation and oil prices affect green energy consumption?

Abstract

This study aims to examine the congruence of trade openness with regards to encouraging pervasive usage of green energy sources and the nexus among environmental degradation, economic development, oil prices, and green energy consumption (GEC). The study utilizes advanced panel data techniques, including the Westerlund cointegration test, Augmented Mean Group (AMG) estimator, Pooled Mean Group (PMG) estimator, and the Dumitrescu and Hurlin (DH) causality test, to examine the aforementioned relationships. The findings of the AMG and PMG estimators indicate that environmental degradation has a negative impact on GEC, whereas oil prices and economic development have a positive effect on GEC.

Keywords

• K32
• O13