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Pathways to securing environmentally sustainable economic growth through efficient use of energy: a bootstrapped ARDL analysis

pmid: 35224701
Oman has traditionally relied upon natural gas and oil for meeting its domestic energy demand. As a result, despite growing economically, the level of carbon dioxide emissions in Oman has persistently surged; consequently, the nation has failed to ensure environmentally sustainable economic growth. Against this background, this current study aims to explore the impacts of energy consumption, energy efficiency, and financial development on Oman's prospects of attaining environmentally sustainable growth over the 1972-2019 period. The estimation strategy is designed to take into account the structural break issues in the data. Using the carbon productivity level as an indicator of environmentally sustainable economic growth, we find long-run associations amid the study variables. Besides, higher energy consumption and greater financial development are found to impede carbon productivity while improving energy efficiency is observed to boost carbon productivity in Oman. Therefore, it is pertinent for Oman to consume low-carbon and energy-efficient fossil fuels, improve energy efficiency levels, and green its financial sector to achieve environmentally sustainable growth.
- Daffodil International University Bangladesh
- Daffodil International University Bangladesh
- North South University Bangladesh
- University of Bahrain Bahrain
- College of Business Administration Latvia
Oman, Carbon Dioxide, Natural Gas, Sustainable Growth, Economic Development, Renewable Energy
Oman, Carbon Dioxide, Natural Gas, Sustainable Growth, Economic Development, Renewable Energy
citations This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).57 popularity This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.Top 1% influence This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).Top 10% impulse This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.Top 1%
