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Exploring the nexuses between nuclear energy, renewable energy, and carbon dioxide emissions: The role of economic complexity in the G7 countries

© 2022The G7 countries consist of some of the world's most economically developed nations. However, alongside such robust economic growth performances, the environmental qualities in these countries have simultaneously aggravated to raise deep concerns among the stakeholders. Hence, this study is designed to empirically examine the environmental effects of nuclear and renewable energy consumption, economic complexity, and economic growth in the context of the G7 countries for the period between 1995 and 2016. To ensure novelty, this study considers carbon footprints along with carbon dioxide emissions to measure environmental quality in the context of the G7 nations. The results reveal that although nuclear energy consumption is effective in mitigating carbon dioxide emissions and carbon footprints in the long run, renewable energy consumption degrades the environment in the G7 countries. Besides, the results also suggest that the G7 countries can transform their production processes in an environmentally friendly manner provided they can undergo a clean transition in energy use. Finally, economic growth is evidenced to be detrimental for the environment since higher economic growth levels are seen to boost both carbon dioxide emission and carbon footprint levels. Therefore, in line with the findings, this study recommends the G7 countries to significantly enhance their nuclear and renewable energy consumption levels, increase their economic complexity indices, and integrate environmental welfare policies within their economic growth strategies.
- Daffodil International University Bangladesh
- Sultan Qaboos University Oman
- Daffodil International University Bangladesh
- Anqing Normal University China (People's Republic of)
- North South University Bangladesh
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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).173 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 0.1%
