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FOSSIL FUEL PRICE, CARBON DIOXIDE EMISSION, AND RENEWABLE ENERGY CAPACITY: EVIDENCE FROM ASIAN DEVELOPING COUNTRIES

International Journal of Banking and Finance, 2021-01, Vol.16 (1), p.79 [Peer Reviewed Journal]

2021. This work is published under https://creativecommons.org/licenses/by/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 1675-722X ;ISSN: 2811-3799 ;EISSN: 2590-423X ;EISSN: 1675-722X ;DOI: 10.32890/ijbf2021.16.1.5

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  • Title:
    FOSSIL FUEL PRICE, CARBON DIOXIDE EMISSION, AND RENEWABLE ENERGY CAPACITY: EVIDENCE FROM ASIAN DEVELOPING COUNTRIES
  • Author: Khaw, Karren Lee-Hwei ; Ni, Toh Jia
  • Subjects: Asian developing countries ; Carbon dioxide ; Co2 emissions ; Developing countries ; Fossil fuels ; LDCs ; renewable energy ; Renewable resources
  • Is Part Of: International Journal of Banking and Finance, 2021-01, Vol.16 (1), p.79
  • Description: This paper examined the impact of fossil fuel price and carbon dioxide (CO2) emission on renewable energy, using a sample of 14 Asian developing countries from the years 2000 to 2018. Fossil fuel prices, mainly those of crude oil and coal, are positively related to renewable energy capacity. CO2 emission is also a positive driver, indicating the significance of environmental concern. The results were consistent for both the upper-middle-income and lower-middle-income countries. Between fossil fuels and CO2 emission, the positive impact of CO2 emission outweighed that of fossil fuels. From a policy perspective, this paper concurs the need to shift huge subsidies away from fossil fuels to renewable energy and to enforce a heavy tax on CO2 emission for a sustainable environment.
  • Publisher: Kedah: Universiti Utara Malaysia
  • Language: English;Malay
  • Identifier: ISSN: 1675-722X
    ISSN: 2811-3799
    EISSN: 2590-423X
    EISSN: 1675-722X
    DOI: 10.32890/ijbf2021.16.1.5
  • Source: ProQuest Central
    DOAJ Directory of Open Access Journals
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