Economic policy uncertainty and renewable energy transition: Assessing the impact of resource richness, environmental technology, and environmental governance

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F25%3A63587718" target="_blank" >RIV/70883521:28120/25:63587718 - isvavai.cz</a>

Výsledek na webu

<a href="https://www.sciencedirect.com/science/article/pii/S0960148125003325?via%3Dihub" target="_blank" >https://www.sciencedirect.com/science/article/pii/S0960148125003325?via%3Dihub</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.renene.2025.122670" target="_blank" >10.1016/j.renene.2025.122670</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Economic policy uncertainty and renewable energy transition: Assessing the impact of resource richness, environmental technology, and environmental governance

Popis výsledku v původním jazyce

The urgency of transitioning to renewable energy is a core priority under the United Nations Sustainable Development Goals (SDGs). However, economic policy uncertainty (EPU) remains a significant challenge in achieving a stable and sustained renewable energy transition (RET), particularly in resource-rich regions such as the Arctic Council countries (Sweden, the United States, Finland, Norway, Canada, Russia, and Denmark). Despite the wealth of literature on RET, research on the Arctic region remains scarce, particularly regarding the interplay between EPU, resource abundance, environmental technology, and governance. This research fills the gap by examining the impact of these factors on RET in the Arctic from 1990 to 2020, employing the Method of moment quantile regression (MMQR) approach to capture heterogeneous effects across different quantiles of RET distribution. The empirical findings reveal that a 1 % rise in economic policy uncertainty leads to a decline in RET between 0.287 % and 0.557 % across different quartiles, indicating a robust negative impact. Conversely, a 1 % increase in natural resource endowment (0.108 %–0.402 %), environmental technology (0.408 %–0.810 %), and environmental governance (0.216 %–0.633 %) enhances RET, with varying degrees of intensity across RETdistributions. Additionally, the robustness analysis, conducted through DOLS and FMOLS, reaffirms the inverse and strong dynamics between economic policy uncertainty and RET, underscoring that policy instability disproportionately affects lower quantiles of RET. The policy implications are threefold. First, Arctic nations must implement stabilized and predictable economic policies to mitigate uncertainty, as fluctuations in economic policy hinder investment in renewable infrastructure. Second, policies should prioritize resource allocation towards clean energy development, ensuring that natural resource wealth is not solely invested into conventional energy sectors but redirected to facilitate RET. Lastly, enhancing environmental technology and governance frameworks through targeted investments and regulatory incentives will further accelerate the transition toward clean energy.

Název v anglickém jazyce

Economic policy uncertainty and renewable energy transition: Assessing the impact of resource richness, environmental technology, and environmental governance

Popis výsledku anglicky

The urgency of transitioning to renewable energy is a core priority under the United Nations Sustainable Development Goals (SDGs). However, economic policy uncertainty (EPU) remains a significant challenge in achieving a stable and sustained renewable energy transition (RET), particularly in resource-rich regions such as the Arctic Council countries (Sweden, the United States, Finland, Norway, Canada, Russia, and Denmark). Despite the wealth of literature on RET, research on the Arctic region remains scarce, particularly regarding the interplay between EPU, resource abundance, environmental technology, and governance. This research fills the gap by examining the impact of these factors on RET in the Arctic from 1990 to 2020, employing the Method of moment quantile regression (MMQR) approach to capture heterogeneous effects across different quantiles of RET distribution. The empirical findings reveal that a 1 % rise in economic policy uncertainty leads to a decline in RET between 0.287 % and 0.557 % across different quartiles, indicating a robust negative impact. Conversely, a 1 % increase in natural resource endowment (0.108 %–0.402 %), environmental technology (0.408 %–0.810 %), and environmental governance (0.216 %–0.633 %) enhances RET, with varying degrees of intensity across RETdistributions. Additionally, the robustness analysis, conducted through DOLS and FMOLS, reaffirms the inverse and strong dynamics between economic policy uncertainty and RET, underscoring that policy instability disproportionately affects lower quantiles of RET. The policy implications are threefold. First, Arctic nations must implement stabilized and predictable economic policies to mitigate uncertainty, as fluctuations in economic policy hinder investment in renewable infrastructure. Second, policies should prioritize resource allocation towards clean energy development, ensuring that natural resource wealth is not solely invested into conventional energy sectors but redirected to facilitate RET. Lastly, enhancing environmental technology and governance frameworks through targeted investments and regulatory incentives will further accelerate the transition toward clean energy.

Druh

J_imp - Článek v periodiku v databázi Web of Science

CEP obor

—

OECD FORD obor

50201 - Economic Theory

Projekt

—

Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2025

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

Renewable Energy

ISSN

0960-1481

e-ISSN

1879-0682

Svazek periodika

2025

Číslo periodika v rámci svazku

224

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

15

Strana od-do

1-15

Kód UT WoS článku

001435328700001

EID výsledku v databázi Scopus

2-s2.0-85218167627