Clean energy development in the United States amidst augmented socioeconomic aspects and country-specific policies

Alola A. A., Akadiri S. S.

Renewable Energy, cilt.169, ss.221-230, 2021 (SCI-Expanded) identifier

  • Yayın Türü: Makale / Tam Makale
  • Cilt numarası: 169
  • Basım Tarihi: 2021
  • Doi Numarası: 10.1016/j.renene.2021.01.022
  • Dergi Adı: Renewable Energy
  • Derginin Tarandığı İndeksler: Science Citation Index Expanded (SCI-EXPANDED), Scopus, Academic Search Premier, PASCAL, Aerospace Database, Aquatic Science & Fisheries Abstracts (ASFA), CAB Abstracts, Communication Abstracts, Compendex, Environment Index, Geobase, Greenfile, Index Islamicus, INSPEC, Pollution Abstracts, Public Affairs Index, Veterinary Science Database, DIALNET, Civil Engineering Abstracts
  • Sayfa Sayıları: ss.221-230
  • Anahtar Kelimeler: Economic uncertainty, National security, Renewable energy development, Sustainable development, Trade policy, United States
  • İstanbul Gelişim Üniversitesi Adresli: Evet

Özet

© 2021 Elsevier LtdThe drive toward the attainment of sustainable environment globally through clean energy development or energy efficiency is not more desirable than in the 21st century, thus the existential policy moderations of economic, trade and security mechanisms. On this premise, and foremost in the literature, the current study examined the country-specific (for the United States) and the driving impacts of economic policy uncertainty, trade policy and national security on the development of cleaner energy sources by using quarterly frequency time series data for period 1990:Q1-2018:Q2. By employing economic expansion as additional factor, the study implemented the Autoregressive Distributed Lag Bounds Testing approach to reveal interesting results: (1) there is a significant evidence that economic expansion, economic policy uncertainty (EU), trade policy (TP), and national security (NS) exhibits long term properties in common, (2) the increase in economic expansion and NS effectiveness significantly yields more cleaner energy development, and (3) a more tightened TP and high EU are statistically significant and detrimental to the development of clean energy. The Granger causality evidence substantiates the role economic expansion, TP, EU and national security in renewable energy development. Generally, the study posits cleaner and energy efficiency policy directive for policymakers in the United States and other countries of interest from the framework of climate action and sustainable development.