Strategy towards sustainable energy transition: The effect of policy uncertainty, environmental technology and natural resources rent in the OECD nations
Resources Policy, cilt.98, 2024 (SSCI, Scopus)
- Yayın Türü: Makale / Tam Makale
- Cilt numarası: 98
- Basım Tarihi: 2024
- Doi Numarası: 10.1016/j.resourpol.2024.105333
- Dergi Adı: Resources Policy
- Derginin Tarandığı İndeksler: Social Sciences Citation Index (SSCI), Scopus, International Bibliography of Social Sciences, Aerospace Database, Aquatic Science & Fisheries Abstracts (ASFA), Business Source Elite, Business Source Premier, Communication Abstracts, Compendex, EconLit, Index Islamicus, INSPEC, Metadex, PAIS International, Pollution Abstracts, Public Affairs Index, Civil Engineering Abstracts
- Anahtar Kelimeler: Energy transition, Environmental policy stringency, Environmentally related green technologies, Natural resources rents, Uncertainty
- Süleyman Demirel Üniversitesi Adresli: Evet
Özet
The stupendous increase in environmental pollutants alongside climate alterations are calling for integrated tasks at the global level to meet the Paris Agreements. Energy conversion from fossil fuel to renewable energy sources is an important step to address the adverse effects of extreme climatic conditions. This study explores the key contributors of energy transition in the context of the OECD countries during the period 1991 to 2019. To this end the major determinants chosen include natural resources rents, policy uncertainty, environmental technologies, environmental policies, income and globalization. The quantile regression technique is used to explore heterogeneous role of the contributory factors of energy transition across its different levels. This study applies method of moments quantile regression (hereafter MM-QR) by Machado and Silva (2019) that provides evidence on how the covariates affect the integral conditional distributions of energy transition. The study documents interesting findings. (i) Natural resources rents reduce the pace of the progress of sustainable energy transition in OECD economies. (ii) An escalation in the world uncertainty index leads to an improvement in energy transition index. (iii) Environmental technologies support the transition concerning cleaner and more efficient energy sources. (iv) Finally, as natural resources, uncertainty, environmental technologies, and globalization impacts energy transition differently, their effects need to be rationalized with varying environmental policy instruments. The study concludes that energy transition process requires the task of upgrading the quality of implementation of policies related to energy technology.