p The role of environmental technology for energy demand and energy efficiency: Evidence from OECD countries

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Paramati S. R., Shahzad U., Dogan B.

RENEWABLE & SUSTAINABLE ENERGY REVIEWS, vol.153, 2022 (SCI-Expanded)

• Publication Type: Article / Article
• Volume: 153
• Publication Date: 2022
• Doi Number: 10.1016/j.rser.2021.111735
• Journal Name: RENEWABLE & SUSTAINABLE ENERGY REVIEWS
• Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, PASCAL, Aerospace Database, CAB Abstracts, Communication Abstracts, Compendex, Greenfile, INSPEC, Public Affairs Index, Veterinary Science Database, Civil Engineering Abstracts
• Keywords: Environmental technology, Energy demand, Energy efficiency, OECD economies, RENEWABLE ENERGY, ECONOMIC-GROWTH, EMPIRICAL-EVIDENCE, TRADE OPENNESS, UNITED-STATES, CO2 EMISSIONS, CONSUMPTION, IMPACTS, CHINA, PRICE
• Süleyman Demirel University Affiliated: Yes

Abstract

The present study aims to fill an important research gap by investigating the role of environmental-related technologies on energy demand and energy efficiency in a sample of 28 OECD economies. The current study utilizes annual data for the period of 1990-2014 and employs panel estimation techniques, which addresses the issues of cross-sectional dependence, fixed effect, and endogeneity. The results, across various estimates, confirm that environmental technology has a substantial negative influence on energy consumption and also plays an important role in improving energy efficiency by reducing energy intensity. These evidences suggest that environmental technology helps the OECD economies to reduce their overall energy consumption and improves overall energy efficiency in their respective countries. The comprehensive empirical outcomes document that financial development and income are the key determinants of energy demand. Given these results, the study proposes several fruitful implications regarding sustainable development goals of OECD countries.