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Does Increasing Environmental Policy Stringency Enhance Renewable Energy Consumption in OECD Countries?

dc.rights.licenseopenen_US
hal.structure.identifierBordeaux Sciences Economiques [BSE]
dc.contributor.authorHASSAN, Mahmoud
dc.contributor.authorKOUZEZ, Marc
dc.contributor.authorLEE, Ji-Yong
dc.contributor.authorMSOLLI, Badreddine
dc.contributor.authorRJIBA, Hatem
dc.date.accessioned2025-06-16T15:02:48Z
dc.date.available2025-06-16T15:02:48Z
dc.date.issued2024-01
dc.identifier.urihttps://oskar-bordeaux.fr/handle/20.500.12278/206928
dc.description.abstractEnThe literature lacks enough evidence on the effect of environmental policy stringency on renewable energy consumption. Therefore, the main objective of this study is to investigate the causal effect of the revised version of the Environmental Policy Stringency Index (EPS) and its components on Renewable Energy Consumption (REC), taking into account environmental innovation, trade openness, economic growth and consumer price index. To this end, we carry out dynamic and static analyses of the yearly data of 32 OECD countries during the period from 1990 to 2019. The two-step system GMM estimator and the forward-orthogonal deviations-GMM technique are used to deal with the potential endogeneity, serial correlation and cross-sectional dependence in the dynamic regression, while the Driscoll-Kraay standard errors technique and quantile regression are employed to estimate the static model. Unlike the existing literature, our results reveal that increasing environmental policy stringency can promote renewable energy. Both market and non-market-based environmental policies and technical support policies show positive effects on green energy use. These results imply that OECD governments can play a vital role in achieving the goal of net zero CO2 emissions by 2050. Increasing the stringency of the policies that put a price on pollution (such as energy taxes) raises the cost of polluted energy use, leading to a shift toward clean energy under the substitution effect. In addition, increasing the public R&D expenditure on solar and wind energy technologies can reduce renewable energy costs and prices, thus facilitating its generation and diffusion.
dc.language.isoENen_US
dc.subject.enDynamic And Static Analysis
dc.subject.enEconomic Growth
dc.subject.enEnvironmental Policy Stringency
dc.subject.enEnvironmental Regulations
dc.subject.enGranger Noncausality Test
dc.subject.enQuantile Regression
dc.subject.enRenewable Energy Consumption
dc.subject.enTwo-Step System Gmm Estimator
dc.title.enDoes Increasing Environmental Policy Stringency Enhance Renewable Energy Consumption in OECD Countries?
dc.typeArticle de revueen_US
dc.identifier.doi10.1016/j.eneco.2023.107198en_US
dc.subject.halSciences de l'Homme et Société/Economies et financesen_US
dc.subject.jelQ - Agricultural and Natural Resource Economics; Environmental and Ecological Economics::Q5 - Environmental Economics::Q58 - Government Policyen_US
dc.subject.jelH - Public Economics::H2 - Taxation, Subsidies, and Revenue::H23 - Externalities; Redistributive Effects; Environmental Taxes and Subsidiesen_US
bordeaux.journalEnergy Economicsen_US
bordeaux.page107198en_US
bordeaux.volume129en_US
bordeaux.hal.laboratoriesBordeaux Sciences Economiques / Bordeaux School of Economics (BSE) - UMR 6060en_US
bordeaux.institutionUniversité de Bordeauxen_US
bordeaux.institutionCNRSen_US
bordeaux.institutionINRAEen_US
bordeaux.peerReviewedouien_US
bordeaux.inpressnonen_US
hal.popularnonen_US
hal.audienceInternationaleen_US
dc.rights.ccPas de Licence CCen_US
bordeaux.COinSctx_ver=Z39.88-2004&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.jtitle=Energy%20Economics&rft.date=2024-01&rft.volume=129&rft.spage=107198&rft.epage=107198&rft.au=HASSAN,%20Mahmoud&KOUZEZ,%20Marc&LEE,%20Ji-Yong&MSOLLI,%20Badreddine&RJIBA,%20Hatem&rft.genre=article


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