TY - JOUR
T1 - The role of environmental technology for energy demand and energy efficiency
T2 - Evidence from OECD countries
AU - Paramati, Sudharshan Reddy
AU - Shahzad, Umer
AU - Doğan, Buhari
N1 - Funding Information:
The authors are grateful to editor and anonymous reviewers for providing useful comments and suggestions. The authors declare that they have no known competing financial interests or personal relationships that could have appeared to influence the work reported in this paper. No funding was received for this research work.
Publisher Copyright:
© 2021 Elsevier Ltd
PY - 2022/1
Y1 - 2022/1
N2 - 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.
AB - 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.
KW - Energy demand
KW - Energy efficiency
KW - Environmental technology
KW - OECD economies
UR - http://www.scopus.com/inward/record.url?scp=85116887464&partnerID=8YFLogxK
U2 - 10.1016/j.rser.2021.111735
DO - 10.1016/j.rser.2021.111735
M3 - Article
AN - SCOPUS:85116887464
SN - 1364-0321
VL - 153
JO - Renewable & Sustainable Energy Reviews
JF - Renewable & Sustainable Energy Reviews
M1 - 111735
ER -
