Please use this identifier to cite or link to this item: https://rda.sliit.lk/handle/123456789/3756
Title: Understanding the interplay of GDP, renewable, and non-renewable energy on carbon emissions: Global wavelet coherence and Granger causality analysis
Authors: Caldera, Y
Ranthilake, T
Gunawardana, H
Senevirathna, D
Jayathilaka, R
Rathnayake, N
Peter, S
Keywords: Understanding
interplay of GDP
renewable
non-renewable energy
carbon emissions
Global wavelet
Granger causality analysis
coherence
Issue Date: 19-Sep-2024
Publisher: PLoS ONE
Citation: Caldera Y, Ranthilake T, Gunawardana H, Senevirathna D, Jayathilaka R, Rathnayake N, et al. (2024) Understanding the interplay of GDP, renewable, and non-renewable energy on carbon emissions: Global wavelet coherence and Granger causality analysis. PLoS ONE 19(9): e0308780. https://doi.org/10.1371/journal.pone.0308780
Series/Report no.: PLoS ONE;19(9): e0308780.
Abstract: This study examines the causality of Per Capita Gross Domestic Production (PGDP), Renewable Energy Consumption (REC), and Non-Renewable Energy Consumption (NREC) on Carbon dioxide (CO2) emissions at the global level utilising data gathered from 1995 to 2020 across various countries categorised based on income levels as High, Low, Upper Middle and Lower Middle and analysed through wavelet coherence. The findings reveal both bidirectional and unidirectional causality between the variables which have evolved. Globally, a bi-directional relationship is observed with a positive correlation between PGDP and NREC and in contrast, a negative correlation with REC. Furthermore, the analysis highlights varying causalities between CO2 emissions and PGDP, except for high-income and lower-middle-income country categories, all other shows one-way causality in different periods in the short term. Moreover, CO2 and REC, show unidirectional causality throughout the short-term, exceptionally medium & long term have both unidirectional and bidirectional causalities across all country categories with a positive correlation. In contrast, CO2 and NREC depict similar causalities to REC, however, with a negative correlation. A cross-country analysis was performed between CO2 and PGDP, CO2 and REC, and CO2 and NREC using Granger causality which shows mixed relationships. The findings hold significant implications for policymakers, providing valuable insights into the trade-offs between economic growth, energy consumption, and carbon emissions.
URI: https://rda.sliit.lk/handle/123456789/3756
ISSN: 1932-6203
Appears in Collections:Research Papers - SLIIT Staff Publications

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