Abstract
Despite extensive research to address the impact of environmental reforms under the Paris Climate Agreement, current literature has failed to provide sufficient insights into Regional Comprehensive Economic Partnership (RCEP) countries. To this end, the current study attempts to address the impact of the economic complexity on environmental quality in the presence of renewable energy consumption, financial development, urbanization and energy innovation in RCEP countries from 1990 to 2019. Our empirical estimates confirm a significant association between environmental quality, economic complexity index, renewable energy consumption, financial development, urbanization and energy innovation in the short-run and long run. Based on extensive econometric analysis (CS-ARDL, AMG, PMG, FMOLS, and DOLS), we conclude that economic complexity, renewable energy, and energy innovation effectively mitigate environmental degradation. At the same time, financial development and urbanization have an adverse impact on the environment. These findings have extensive policy implications for policymakers and environmental stakeholders, who are aiming to achieve sustainable energy policy and economic growth to meet the environmental commitments under Paris Climate Agreement.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.