• Energy Research

Abstract This paper validates the tourism-led growth hypothesis for a panel of selected OECD countries, including the effects of per capita CO2, globalization and energy use during the period 1994–2014. The long-term relationship between economic growth and the above-mentioned variables is confirmed by applying unit root tests and cointegration approaches. The Generalized Method of Moments (GMM) methodology confirms a N-shaped relationship between international tourism and per capita economic growth. Globalization does not appear to be very effective in the short run for promoting economic growth; its impact on growth is determined through a finite-lag distribution, as the optimal effect can only be achieved in the long term. A direct relationship is detected between economic growth, energy use and globalization. The recommendation is to reshape regulatory frameworks with a clearer focus on promoting international tourism and more efficient energy use as a means of enhancing sustainable economic growth in developed countries. The empirical results reveal that fossil fuels account for a large part of the energy mix, so policy makers should consider reinforcing the promotion of clean energy sources and the use of more efficient processes.

Abstract Global travel and tourism have enjoyed a significant boost due to the progress in air transport. However, the debate on air transport and the influx of foreign investments and global energy demand on economic development remains questionable. Therefore, this study is an attempt to contribute to the body of knowledge in the energy-tourism-led growth hypothesis literature. For this purpose, a novel approach to the effects of international tourism on economic growth is introduced for the Next-5 largest economies, namely (China, India, Indonesia, Turkey and the USA) between 1990 and 2018. Empirical results reveal a positive connection between foreign direct investment and income levels, electricity production and income levels, as well as between urbanization and economic growth. Moreover, the validation of the environmental Kuznets curve and the halo effect of foreign direct investment on the environmental degradation process provides a shred of more substantial evidence and fitting environmental instruments for policymakers. The empirical results encourage sustainable economic growth in these countries, mainly through the attraction of clean and high-technology foreign investment, the increase of the share of renewable energy sources in the energy mix and the regulation in the tourism industry. The novel contribution of this study to the empirical literature is the unification in the same research of the TLGH and the EKC for the Next-5 largest economies, establishing recommendations for tourism, energy efficiency and environmental correction process.

This study investigates the environmental Kuznets curve (EKC) hypothesis for Brazil, Russia, India, China and South Africa (BRICS) over the period 1990-2014, while considering agricultural activities, energy use, trade openness and mobile use as driving forces of environmental degradation. The empirical results verify an inverted U-shaped connection between carbon emissions and economic growth. This study confirms the unfriendly impact of agriculture on the environment. Electricity consumption and trade openness likewise exhibit similar impacts on carbon emissions. Mobile use however reduces pollution. A unique revelation from this study is that the interaction between electricity consumption and agricultural activities has an additional pernicious effect on the environment. The methodologies applied for testing the impact of selected independent variables on carbon emissions in BRICS are the Dynamic Ordinary Least Squares (DOLS) and the Fully Modify Ordinary Least Square (FMOLS) for long run regression. Empirical evidence confirms that agriculture exerts a negative impact on the environment in BRICS countries. This study therefore recommends the adoption of cleaner energy processes and enabling high-tech and clean foreign investment.

AbstractThis study analyses the relationship between foreign direct investment, economic growth, urbanization, energy use, and carbon emissions in Brazil, Russia, India, China, and South Africa (BRICS countries) between 1990 and 2014. According to the empirical results, both environmental Kuznets curve (EKC) and pollution haven hypotheses (PHH) are confirmed. Urbanization contributes to reducing carbon emissions, while energy use is one of the main driving forces of ascending carbon emissions. The main advance of this paper lies in the moderating effect of foreign direct investment and energy usage on carbon emission in the case of the BRICS. The empirical results confirm a dampening impact of foreign direct investment on energy use, generating a correction in carbon emission. Thus, structural transformations are highlighted with a positive influence on energy efficiency and sustainable growth. It is expected that policymakers must promote renewable sources and boost clean foreign industries in selected host countries.

This paper focuses on long-term evidence on economic growth, international tourism, globalization, energy consumption and carbon dioxide (CO2) emissions in OECD countries for the period of 1994-2014. The empirical analysis reveals that climate change is magnified by energy use, tourism and economic growth. An inverted U-shaped relationship is also found between international tourism and CO2 emissions. The contribution of international tourism to climate change in the early stages of development is thus diminished by globalization in the later stages. In other words, globalization appears to reduce carbon emissions from international tourism. The empirical results provide additional arguments for shaping regulatory frameworks aimed at reversing the current energy mix in OECD countries by facilitating energy efficiency and promoting renewable sources.

The present paper analyses the evolution of renewable energy generation in the European Union through a decomposition analysis based on the Index Decomposition Analysis together with the Logarithmic Mean Divisia Index within the EU27 between 2000 and 2020. A four factors decomposition approach is considered for decomposing the total RES generation and a five factors model is employed to decompose the carbon emissions. Furthermore, a focus on wind and solar photovoltaic generation is introduced through a four factors decomposition calculated in the period 2010–2020. The most influential factors affecting the RES generation trend in the period 2000–2020 are the RES share and energy efficiency wich determined an increase of 1841 TWh and a decrease of 635 TWh respectively. Variations of carbon emissions are mostly affected by the energy intensity, namely the amount of energy necessary to produce one unit of GDP, which determined a reduction of 1040 Mt. Through the decomposition analysis, the paper successfully identifies the specific drivers supporting RES development and controlling carbon emissions, thus adequate policy measures can be designed to reach planned targets.

Abstract During the last two decades, a relevant development of renewable energy sources for electricity generation has been observed in Spain. Their diffusion has provoked deep changes that at times have been controversial. The large penetration of renewables under the recent economic conditions has affected power plants, triggering changes in the regulatory framework. In Spain, the use of Combined Cycles Gas Turbines (CCGTs) for complementing intermittent renewables is meant to ensure the security of supply. This paper aims toward a better understanding of the effects of renewables deployment and the modifications of the regulatory framework in terms of resource and capacity support schemes.

AbstractUnder the growing threats of climate change, innovation and pollution reduction have become driving forces for cleaner economic growth and the environment. This study endeavors to analyze the effect of economic complexity—understood as structural transformation toward more sophisticated and knowledge‐based production, economic progress, renewable energy consumption, and population growth over carbon emissions. Our study employs panel data for a sample of 28 OECD countries covering the period of 1990–2014. The main contribution to the energy economics literature is given by bringing together the concept of environmental degradation and economic complexity controlling via renewable energy consumption and economic and population growth. Based on the extensive empirical analysis (augmented mean group estimator, panel cointegration, and panel regression techniques), we conclude that economic complexity and renewable energy might help in mitigating the environmental degradation problems in OECD countries.