Retracted: How Do Renewable Energy, Economic Growth and Natural Resources Rent Affect Environmental Sustainability in a Globalized Economy? Evidence From Colombia Based on the Gradual Shift Causality Approach
Undoubtedly, fossil fuel energy consumption causes global warming. The question at the core is whether or not we want to quit energy consumption? The obvious answer to this question is “no.” Therefore, the necessity for innovation is curial to attain green energy and sustainable growth. This researc...
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Frontiers Media S.A.
2022-01-01
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| Series: | Frontiers in Energy Research |
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| Online Access: | https://www.frontiersin.org/articles/10.3389/fenrg.2021.739721/full |
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| author | Abraham Ayobamiji Awosusi Mário Nuno Mata Zahoor Ahmed Zahoor Ahmed Zahoor Ahmed Manuel Francisco Coelho Manuel Francisco Coelho Mehmet Altuntaş José Moleiro Martins José Moleiro Martins Jéssica Nunes Martins Jéssica Nunes Martins Stephen Taiwo Onifade Stephen Taiwo Onifade |
| author_facet | Abraham Ayobamiji Awosusi Mário Nuno Mata Zahoor Ahmed Zahoor Ahmed Zahoor Ahmed Manuel Francisco Coelho Manuel Francisco Coelho Mehmet Altuntaş José Moleiro Martins José Moleiro Martins Jéssica Nunes Martins Jéssica Nunes Martins Stephen Taiwo Onifade Stephen Taiwo Onifade |
| author_sort | Abraham Ayobamiji Awosusi |
| collection | DOAJ |
| description | Undoubtedly, fossil fuel energy consumption causes global warming. The question at the core is whether or not we want to quit energy consumption? The obvious answer to this question is “no.” Therefore, the necessity for innovation is curial to attain green energy and sustainable growth. This research specifically focused on Colombia, which represents the aforementioned threats to a large extent as the trajectory of economic expansion is characterized by significant CO2 emissions in Colombia. In this regard, we examine the association between globalization, renewable energy, natural resources rent, economic growth, and CO2 emissions from 1970 to 2017. The cointegration test confirmed a long association between the considered variables. This study employed the Fully Modified Ordinary Least Squares, Dynamic Ordinary Least Squares, and Autoregressive Distributed Lag estimators for the long-run analysis. The long-run empirical results uncovered growth-induced emissions in Colombia. The result illustrated that the path of development is unsustainable in Columbia. In contrast, globalization and renewable energy demonstrated a favorable contribution to environmental quality. The outcomes of the Gradual Shift Causality indicated that globalization, natural resource rent, and economic growth Granger cause CO2 emissions. The findings highlight the need to enact well-coordinated measures to reduce environmental deterioration in Colombia. Colombia must aggressively promote the development of renewable energy and also foster a better viable environment for renewable energy investment to mitigate environmental damage caused by economic growth. |
| format | Article |
| id | doaj-art-77703484ac144339819b8c03aae6c050 |
| institution | Kabale University |
| issn | 2296-598X |
| language | English |
| publishDate | 2022-01-01 |
| publisher | Frontiers Media S.A. |
| record_format | Article |
| series | Frontiers in Energy Research |
| spelling | doaj-art-77703484ac144339819b8c03aae6c0502025-01-29T14:03:07ZengFrontiers Media S.A.Frontiers in Energy Research2296-598X2022-01-01910.3389/fenrg.2021.739721739721Retracted: How Do Renewable Energy, Economic Growth and Natural Resources Rent Affect Environmental Sustainability in a Globalized Economy? Evidence From Colombia Based on the Gradual Shift Causality ApproachAbraham Ayobamiji Awosusi0Mário Nuno Mata1Zahoor Ahmed2Zahoor Ahmed3Zahoor Ahmed4Manuel Francisco Coelho5Manuel Francisco Coelho6Mehmet Altuntaş7José Moleiro Martins8José Moleiro Martins9Jéssica Nunes Martins10Jéssica Nunes Martins11Stephen Taiwo Onifade12Stephen Taiwo Onifade13Faculty of Economics and Administrative Science, Department of Economics, Near East University, Nicosia, CyprusISCAL-Instituto Superior de Contabilidade e Administração de Lisboa, Instituto Politécnico de Lisboa, Lisbon, PortugalDepartment of Business Administration, Faculty of Management Sciences, ILMA University, Karachi, PakistanDepartment of Economics, School of Business, AKFA University, Tashkent, UzbekistanSchool of Management and Economics, Beijing Institute of Technology, Beijing, ChinaInstituto Superior de Economia e Gestão/Universidade de Lisboa, Lisboa, PortugalSOCIUS/ISEG Centro de Investigação em Sociologia Económica e das Organizações, Lisboa, PortugalNisantasi University, Faculty of Economics, Administrative and Social Sciences, Department of Economics, Istanbul, TurkeyISCAL-Instituto Superior de Contabilidade e Administração de Lisboa, Instituto Politécnico de Lisboa, Lisbon, PortugalInstituto Universitário de Lisboa (ISCTE-IUL), Business Research Unit (BRU-IUL), Lisbon, Portugal0Instituto Universitário de Lisboa (ISCTE-IUL), Lisbon, Portugal1BPI-Banco Portugês de Investimento-CaixaBank Group, Accounting Department, Lisboa, Portugal2Faculty of Economics and Administrative Sciences, Department of Economics, Selcuk University, Konya, Turkey3Faculty of Economics and Administrative Sciences, Department of International Trade and Logistics, KTO Karatay University, Konya, TurkeyUndoubtedly, fossil fuel energy consumption causes global warming. The question at the core is whether or not we want to quit energy consumption? The obvious answer to this question is “no.” Therefore, the necessity for innovation is curial to attain green energy and sustainable growth. This research specifically focused on Colombia, which represents the aforementioned threats to a large extent as the trajectory of economic expansion is characterized by significant CO2 emissions in Colombia. In this regard, we examine the association between globalization, renewable energy, natural resources rent, economic growth, and CO2 emissions from 1970 to 2017. The cointegration test confirmed a long association between the considered variables. This study employed the Fully Modified Ordinary Least Squares, Dynamic Ordinary Least Squares, and Autoregressive Distributed Lag estimators for the long-run analysis. The long-run empirical results uncovered growth-induced emissions in Colombia. The result illustrated that the path of development is unsustainable in Columbia. In contrast, globalization and renewable energy demonstrated a favorable contribution to environmental quality. The outcomes of the Gradual Shift Causality indicated that globalization, natural resource rent, and economic growth Granger cause CO2 emissions. The findings highlight the need to enact well-coordinated measures to reduce environmental deterioration in Colombia. Colombia must aggressively promote the development of renewable energy and also foster a better viable environment for renewable energy investment to mitigate environmental damage caused by economic growth.https://www.frontiersin.org/articles/10.3389/fenrg.2021.739721/fullenvironmental sustainabilityColombiaglobalizationrenewable energyCO2 emissionsgradual shift causality test |
| spellingShingle | Abraham Ayobamiji Awosusi Mário Nuno Mata Zahoor Ahmed Zahoor Ahmed Zahoor Ahmed Manuel Francisco Coelho Manuel Francisco Coelho Mehmet Altuntaş José Moleiro Martins José Moleiro Martins Jéssica Nunes Martins Jéssica Nunes Martins Stephen Taiwo Onifade Stephen Taiwo Onifade Retracted: How Do Renewable Energy, Economic Growth and Natural Resources Rent Affect Environmental Sustainability in a Globalized Economy? Evidence From Colombia Based on the Gradual Shift Causality Approach Frontiers in Energy Research environmental sustainability Colombia globalization renewable energy CO2 emissions gradual shift causality test |
| title | Retracted: How Do Renewable Energy, Economic Growth and Natural Resources Rent Affect Environmental Sustainability in a Globalized Economy? Evidence From Colombia Based on the Gradual Shift Causality Approach |
| title_full | Retracted: How Do Renewable Energy, Economic Growth and Natural Resources Rent Affect Environmental Sustainability in a Globalized Economy? Evidence From Colombia Based on the Gradual Shift Causality Approach |
| title_fullStr | Retracted: How Do Renewable Energy, Economic Growth and Natural Resources Rent Affect Environmental Sustainability in a Globalized Economy? Evidence From Colombia Based on the Gradual Shift Causality Approach |
| title_full_unstemmed | Retracted: How Do Renewable Energy, Economic Growth and Natural Resources Rent Affect Environmental Sustainability in a Globalized Economy? Evidence From Colombia Based on the Gradual Shift Causality Approach |
| title_short | Retracted: How Do Renewable Energy, Economic Growth and Natural Resources Rent Affect Environmental Sustainability in a Globalized Economy? Evidence From Colombia Based on the Gradual Shift Causality Approach |
| title_sort | retracted how do renewable energy economic growth and natural resources rent affect environmental sustainability in a globalized economy evidence from colombia based on the gradual shift causality approach |
| topic | environmental sustainability Colombia globalization renewable energy CO2 emissions gradual shift causality test |
| url | https://www.frontiersin.org/articles/10.3389/fenrg.2021.739721/full |
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