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The transition to renewable energy is inevitable as geopolitical risks drag on: a closer empirical look at MENAT oil importers.
- Source :
-
Environmental science and pollution research international [Environ Sci Pollut Res Int] 2023 Oct; Vol. 30 (48), pp. 105293-105307. Date of Electronic Publication: 2023 Sep 15. - Publication Year :
- 2023
-
Abstract
- This paper investigates the impact of geopolitical risks on renewable energy generation in MENAT oil-importing countries, namely, Egypt, Tunisia, and Turkey over the period 1990-2020 using the autoregressive distributed lag (ARDL) model. The main findings emphasize that geopolitical risks play a crucial role in inducing renewable energy development in MENAT oil-importing countries in the short and long run. Financial development appears to positively and significantly affect renewable energy generation in the three countries. Furthermore, the speeds of adjustment towards the long-run equilibrium are 36.78%, 66.03%, and 17.81% annually in Egypt, Tunisia, and Turkey, respectively. In today's volatile and turbulent world, dramatically rising geopolitical risks make the transition to renewable energy an inevitable reality. Consequently, it is incumbent upon policymakers and relevant authorities in MENAT oil-importing countries to preemptively redirect their efforts and strategies to conform to the demands of the inevitable transition to renewable energy sources and boost energy self-reliance.<br /> (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)
- Subjects :
- Renewable Energy
Turkey
Egypt
Carbon Dioxide analysis
Economic Development
Subjects
Details
- Language :
- English
- ISSN :
- 1614-7499
- Volume :
- 30
- Issue :
- 48
- Database :
- MEDLINE
- Journal :
- Environmental science and pollution research international
- Publication Type :
- Academic Journal
- Accession number :
- 37710067
- Full Text :
- https://doi.org/10.1007/s11356-023-29823-9