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This paper explores the impact of an environmental tax on carbon emissions for the G7 nations from 1994 to 2014 and the importance of the major drivers of emissions such as energy use, economic complexity, natural resources rent and economic growth. The study also verifies the Environmental Kuznets Curve Hypothesis for the G7 countries and explores the marginal effects of an environmental tax on traditional energy consumption, natural resources rent and renewable energy consumption. This paper's unique contribution is that it investigates for the first time the moderating role of an environmental tax on renewable and non-renewable energy consumption, natural resources rent and CO 2 emissions. The results suggest that environmental taxes effectively reduce emissions for the G7 countries and confirm that the marginal effects of the environmental tax on traditional energy consumption, natural resources rent and renewable energy consumption rise with the level of taxation in a statistically significant way. The findings indicate that strict environmental tax laws will allow businesses to shift production towards cleaner methods. Finally, the paper proposes that redistributing tax revenues to the research and development of sustainable technology programmes would empower the nations to achieve the United Nations' SDG-7 and SDG-13 goals. Flow Diagram on the nexus between emissions, tax, economic complexity, energy and economic growth. [Display omitted] • The paper analyses the effects of economic complexity on carbon emissions. • Environmental tax affects directly carbon emissions. • Environmental tax lessens the effect of energy consumption and natural resources. • Environmental tax amplifies the effect of renewable energy consumption. • The EKC hypothesis is validated for economic complexity in G7. [ABSTRACT FROM AUTHOR]

This study investigates the role of the import diversification in the renewable energy consumption for a global panel of both developing and developed economies. The study applies panel co-integration and panel quantile regression analysis on the panel data of 138 countries during 1995–2018. For empirical analysis, the authors used Pedroni) cointegration test and panel-quantile regressions. The investigation proves that the import diversification significantly reduces the renewable energy consumption and there is a major need for designing and implementing some revised and synchronized policies of trade with the energy mix and sustainable development goals. The empirical findings claim that the foreign direct investments, natural resources and GDP increase significantly boost the renewable energy demand for both groups of developing and developed countries. Therefore, this study shows that generally the current trade policies might be ineffective and import diversification policies should be reformed to match with the energy regulations, manufacturing, and sustainable development goals. [ABSTRACT FROM AUTHOR]

Given the alarming rate of climate change and environmental degradation, major countries are seeking ways to curtail environmental damage and attain sustainability in the future. In the quest for a green economy, countries are motivated to adopt renewable energy that can assist in resource conservation and efficiency. Accordingly, this study examines the diverse effects of the underground economy, environmental policy strictness, geopolitical risk, gross domestic product, carbon emissions, population, and oil prices on renewable energy for 30 high- and middle-income countries from 1990 to 2018. The empirical outcomes based on quantile regression document significant variations across two country groups. For instance, for high-income countries, the shadow economy has a detrimental effect across all quantiles but it is statistically significant at the top quantiles. Nonetheless, the effect of the shadow economy on renewable energy is detrimental and significant statistically across all quantiles for middle-income countries. In the context of environmental policy stringency, the effect is positive across both country groups, though there is heterogeneity in outcomes. Geopolitical risk has a positive influence on the deployment of renewable energy for high-income countries but negatively impacts renewables for middle-income countries. As far as policy suggestions are concerned, the policymakers of both high- and middle-income countries need to take steps to constrain the growth of the shadow economy by adopting effective policy strategies. Policies need to be implemented for middle income-countries to reduce the unfavorable effect of geopolitical uncertainty. The findings of this study contribute to a better and more precise understanding of factors shaping the role of renewables whereby the energy crisis would be mitigated. • Effect of shadow economy, environmental regulation, and geopolitical risk on renewable energy. • Empirical results are provided based on panel quantile approach. • Shadow economy hinders but environmental regulation encourages renewables. • Geopolitical risk promotes (dampens) renewable energy in high- (middle-) income countries. • Impacts are heterogeneous across the distribution of renewable energy development. [ABSTRACT FROM AUTHOR]

One of the core objectives in Sustainable Development Goals of developed and emerging economies is to enhance the renewable energy consumption level to overcome environmental challenges. However, little is known about the export product diversification impacts on renewable energy consumption. The prime objective of this study is to explore the effects of export diversification, extensive margin and intensive margins on renewable energy consumption using a panel data of 14 countries (G-7 and E-7) spanning the period of 1990–2017. Current study is based on panel cointegration analysis, FGLS and FMOLS techniques, where the renewable energy consumption is given as a function of export diversification, economic growth, industrialization, trade openness and natural resources. The empirical findings show that product diversification policies have positive effects on renewable energy demand for developed and emerging economies. Interestingly, our results illustrate that the nonlinear hypothesis is valid between export diversification and renewable energy for the sample countries, while the threshold level and direction are different for both panels. • The impact of export product diversification on renewable energy consumption is examined. • G-7 countries and E-7 countries over 1990–2017 are analyzed. • Empirical results show that export diversification significantly influence renewable energy consumption. • The non-linear hypothesis between export diversification and renewable energy is confirmed for G-7 and E-7 countries. • Natural resources and International trade significantly influence renewable energy consumption. [ABSTRACT FROM AUTHOR]

Scholars and policy makers are paying close attention to reduce climate problems for sustainable growth. The failure to enhance ecological integrity could increase greenhouse gas emissions. Therefore, this study examines the effect of economic complexity, high‐tech industries, renewables, natural resource abundance, and financial globalization on CO2 and ecological footprint for 10 selected newly industrializing countries for the period 1990 to 2018. We use Common Correlated Error Mean Group, Augmented Mean Group, panel causality, and Westerlund Error Correction Model of cointegration techniques that account for short‐run, and long‐run relationships across cross‐sectionally dependent and heterogeneous countries. The findings reveal long‐run interrelationships across the series of underlying observations. The long‐run empirical results show the development of high‐tech industries has statistically significant environmental welfare‐enhancing impact, whereas renewables and natural resource exploitation mitigate environmental challenges. However, economic complexity and financial globalization increase emissions and ecological footprint (ECF). The results confirm unidirectional causality from renewable energy to CO2 and ECF and further from natural resources to CO2 and ECF. Additionally, there exists bidirectional causality between financial globalization and ECF. Based on these findings, we suggest that these countries should revise their energy policies in order to allocate more funds for the renewable energy technologies so that environmental problems can be mitigated. Along with renewable energy, further investments should be made in high‐tech sector but economic complexity and financial globalization should be carefully handled. [ABSTRACT FROM AUTHOR]

Promoting the development of renewable energy sources is crucial for sustainability. This paper explores the impact of energy security risks and economic complexity on expanding renewable energy sources, accounting for trade openness and economic growth for the top 23 energy consumers. The period of observations spans from 1997 to 2017. The study was conducted using panel quantile regression methods with fixed effects. The empirical outcomes indicate that economic complexity has a significant negative effect on renewable energy at low quantiles but a positive effect at medium to high quantiles. Furthermore, economic complexity has a greater impact on middle-income countries than on high-income countries. Energy security risks positively and significantly impact renewable energy development. However, for middle-income countries, the impact of energy security risks on renewable energy is unstable. The impact is at its peak between the 60th and 70th quantiles and then declines to its lowest level between the 80th and 90th quantiles. The robustness tests confirm the earlier findings. Based on empirical outcomes, policy prescriptions are suggested to address renewable energy deployment against the backdrop of sustainable development concerns. The policy implications suggest that the government should actively promote trade openness and increase economic complexity. Greater energy security risk index shocks increase the use of renewable energy. • Studies roles of economic complexity and energy security on renewable energy. • On 23 top energy users for 1990–2017. • Advanced quantile regression technique adopted. • Scale effect and composition effect of economic complexity on divergence of impact. • Empirical outcomes have directions on policy for SDG. [ABSTRACT FROM AUTHOR]

• Impacts of export quality on economic progress are examined. • The role of economic complexity for economic growth is investigated. • 28 OECD country's data is utilized from 1990 to 2019. • Export quality and economic complexity induce sustainable growth. • Institutional quality is a significant determinant for economic growth. It is important to unearth the role of structural change factors for sustainable growth in developed economies. Economic complexity, export product quality, and institutional indicators represent the overall structural change and transformation in an economy. This paper probed the influence of export product quality and economics of complexity on economic growth for 28 OECD (Organization for Economic Co-operation and Development) countries using the data from 1990 to 2019. In doing so, the study employs three-panel data econometric models to investigate the role of economic complexity, export quality, and institutional quality on economic development. The paper performs the empirical tests, including the cross-sectional related dependency methods and cointegration techniques. As per the results emerging from fully modified OLS (FMOLS) and dynamic OLS (DOLS) estimation, export quality and financial development positively and significantly strongly impact growth in the long run. The empirical conclusions report detailed discussion on sustainable growth and discuss novel implications concerning product quality and institutional performance. The conclusions stress the practical implications for sustainable economic growth of OECD economies. [ABSTRACT FROM AUTHOR]

The G7 countries consist of some of the world's most economically developed nations. However, alongside such robust economic growth performances, the environmental qualities in these countries have simultaneously aggravated to raise deep concerns among the stakeholders. Hence, this study is designed to empirically examine the environmental effects of nuclear and renewable energy consumption, economic complexity, and economic growth in the context of the G7 countries for the period between 1995 and 2016. To ensure novelty, this study considers carbon footprints along with carbon dioxide emissions to measure environmental quality in the context of the G7 nations. The results reveal that although nuclear energy consumption is effective in mitigating carbon dioxide emissions and carbon footprints in the long run, renewable energy consumption degrades the environment in the G7 countries. Besides, the results also suggest that the G7 countries can transform their production processes in an environmentally friendly manner provided they can undergo a clean transition in energy use. Finally, economic growth is evidenced to be detrimental for the environment since higher economic growth levels are seen to boost both carbon dioxide emission and carbon footprint levels. Therefore, in line with the findings, this study recommends the G7 countries to significantly enhance their nuclear and renewable energy consumption levels, increase their economic complexity indices, and integrate environmental welfare policies within their economic growth strategies. • Determinants of CO 2 emissions and carbon footprints are evaluated in G7 countries. • Renewable energy use boosts CO 2 emissions and carbon footprints. • Nuclear energy use curbs CO 2 emissions and carbon footprints. • Economic complexity reduces CO 2 emissions and carbon footprints. • Economic growth stimulates CO 2 emissions and carbon footprints. [ABSTRACT FROM AUTHOR]

This study investigates the dynamic interdependence between CO 2 emissions, real gross domestic product (GDP), renewable and non-renewable energy generation, urbanization, and export quality for both the top ten renewable energy and top ten economic complexity index (ECI) countries. The techniques of panel cointegration, long-run FMOLS, DOLS, and Granger causality are used spanning the period 1980–2014. Long-run estimates suggest that, for the top ten renewable energy countries, only renewable energy generation contributes to mitigating CO 2 emissions, while the other variables lead to increase emissions levels in the long-run. However, for the case of leading complex economies, the empirics highlighted the significant role of renewable energy in carbon mitigation. Exports quality leads to decrease emissions level and real GDP, non-renewable energy and urbanization contribute to the rise in emissions. Interestingly, for the top ten renewable energy countries, Granger causality analysis mentioned a two-ways short-run relationship between renewable energy generation and export quality and one-way causality from export quality to CO 2 emissions. The findings mention that adopting clean technologies using renewable energy might act as a key tool for export quality improvement and mitigation of CO 2 emissions. Results are related to Sustainable Development Goals (SDG-7: using more renewable, affordable energy; SDG-8: sustainable economic growth and decent employment for all, SDG-13: regulating emissions and promoting renewable energy) and discussed in this sense. • Dynamic interdependence between CO 2 emissions, energy generation, and exports quality is examined. • Panel data is used for renewable energy and economic complexity countries. • Export quality tend to have positive effects on CO 2 emissions. • Non-renewable energy induces pollution levels. • Renewable energy mitigates CO 2 emissions. [ABSTRACT FROM AUTHOR]