The impact of renewable energy consumption, trade openness, CO2 emissions, income inequality, on economic growth

• Published in: Energy strategy reviews Vol. 44; p. 101003
• Main Authors: Yang, Xiaotian, Ramos-Meza, Carlos Samuel, Shabbir, Malik Shahzad, Ali, Syed Ahtsham, Jain, Vipin
• Format: Journal Article
• Language: English
• Published: Elsevier Ltd 01.11.2022; Elsevier
• Subjects: AMG estimator; Income inequality; OECD countries; Renewable energy consumption; Trade openness; AMG estimator; Income inequality; Renewable energy consumption; OECD countries; Trade openness
• ISSN: 2211-467X; 2211-467X
• DOI: 10.1016/j.esr.2022.101003

This research explores the influence of real oil prices, trade openness, carbon emanations, economic growth, and income inequality on renewable energy consumption (REC) in twenty (20) OECD nations from 1991 to 2020 by employing the AMG assessor, which takes into account slope heterogeneity (SH) and CSD. The empirical outcomes confirm a significant favorable long-run relationship between these nexus, except for Carbon emanations, which are adversely related with REC, respectively. The findings also reveal that trade openness, REC, income inequality, and real oil prices all have a one-way causal relationship with CO2 emanations. Notwithstanding, it has discovered that there is bi-directional causality between income inequality and REC. •Our study aims to look at the influence of trade openness, income inequality, economic growth, CO2 emissions.•REC, trade openness, real oil prices, and income inequality all have a one-way causal relationship with CO2 emissions.•REC is positively related to economic growth, real oil prices, income inequality, and trade openness.