Global energy transition: From the main determinants to economic challenges

• Authors: Adam P. Balcerzak , Gazi Salah Uddin , Bartosz Igliński , Michał Bernard Pietrzak
• Publisher: Instytut Badań Gospodarczych
• Journal: Equilibrium. Quarterly Journal of Economics and Economic Policy
• Year: 2023
• Volume: 18
• Issue: 3
• Pages: 597-608

Dates

published

2023

Contributors

author

Adam P. Balcerzak

• Brno University of Technology

• https://orcid.org/0000000303521373

author

Gazi Salah Uddin

• Linköping University

• https://orcid.org/0000000257440192

author

Bartosz Igliński

• Nicolaus Copernicus University in Toruń

• https://orcid.org/0000000229766371

author

Michał Bernard Pietrzak

• Gdansk University of Technology

• https://orcid.org/0000000292634478

References

• Abbasi, K. R., Shahbaz, M., Zhang, J. J., Irfan, M., & Alvarado, R. (2022). Analyze the environmental sustainability factors of China: The role of fossil fuel energy and renewable energy. Renewable Energy, 187, 390–402.
• Adebayo, T. S., Ullah, S., Kartal, M. T., Ali, K., Pata, U. K., Aga, M. (2022). Endorsing sustainable development in BRICS: The role of technological innovation, renewable energy consumption, and natural resources in limiting carbon emission. Science of the Total Environment, 859(1), 160181.
• Agyekum, E. B., Amjad, F., Mohsin, M., Ansah, M. N. S. (2021). A bird's eye view of Ghana's renewable energy sector environment: A multi-criteria decision-making approach. Utilities Policy, 70, 101219.
• Ahmed, Z., Ahmad, M., Murshed, M., Shah, M. I., Mahmood, H., & Abbas, S. (2022). How do green energy technology investments, technological innovation, and trade globalization enhance green energy supply and stimulate environmental sustainability in the G7 countries? Gondwana Research, 112, 105–115.
• Ainou, F. Z., Ali, M., Sadiq, M. (2023). Green energy security assessment in Morocco: green finance as a step toward sustainable energy transition. Environmental Science and Pollution Research, 30(22), 61411–61429.
• Al Mamun, M., Boubaker, S., & Nguyen, D. K. (2022). Green finance and decarbonization: Evidence from around the world. Finance Research Letters, 46, 102807.
• Amigues, J. P., Le Kama, A. A., & Moreaux, M. (2015). Equilibrium transitions from non-renewable energy to renewable energy under capacity constraints. Journal of Economic Dynamics & Control, 55, 89–112.
• Amin, M., Shah, H. H., Fareed, A. G., Khan, W. U., Chung, E. H. Y. Zia, A., Farooqi, Z. U. R. & Lee, C. H. Y. (2022). Hydrogen production through renewable and non-renewable energy processes and their impact on climate change. International Journal of Hydrogen Energy, 47(77), 33112–33134.
• Amjith, L. R., & Bavanish, B. (2022). A review on biomass and wind as renewable energy for sustainable environment. Chemosphere, 293, 133579.
• Balcerzak, A. P. & Rogalska, E. (2016). Non-Keynesian effects of fiscal consolidations in Central Europe in the Years 2000-2013. In M. H. Bilgin & H. Danis, (Eds.). Entrepreneurship, business and economics - Vol. 2. Proceedings of the 15th Eurasia Business and Economics Society (pp. 271–282). Springer International Publishing.
• Balcerzak, A. P., Pietrzak, M. B., & Rogalska, E. (2016). Fiscal contractions in Eurozone in the years 1995-2012: Can non-Keynesian effects be helpful in future deleverage process?. In M. H. Bilgin, H. Danis, E. Demir, U. Can (Eds.). Business challenges in the changing economic landscape - Vol. 1. Proceedings of the 14th Eurasia Business and Economics Society (pp. 483–496). Springer International Publishing.
• Balcerzak, A. P., MacGregor, R. K., MacGregor Pelikánová, R., Rogalska, E., & Szostek, D. (2023). The EU regulation of sustainable investment: The end of sustainability trade-offs? Entrepreneurial Business and Economics Review, 11(1), 199–212.
• Bashir, M. F., Sadiq, M., Talbi, B., Shahzad, L., Bashir, M. A. (2022). An outlook on the development of renewable energy, policy measures to reshape the current energy mix, and how to achieve sustainable economic growth in the post COVID-19 era. Environmental Science and Pollution Research, 29(29), 43636–43647.
• Batool, K., Zhao, Z. Y., Atif, F., & Dilanchiev, A. (2022). Nexus between energy poverty and technological innovations: A pathway for addressing energy sustainability. Frontiers in Environmental Science, 10, 888080.
• Bei, J. L., & Wang, C. Y. (2023). Renewable energy resources and sustainable development goals: Evidence based on green finance, clean energy and environmentally friendly investment. Resource Policy, 80, 103194.
• Boateng, E., Asafo-Adjei, E., Gatsi, J. G., Gherghina, Ştefan C., & Simionescu, L. N. (2022). Multifrequency-based non-linear approach to analyzing implied volatility transmission across global financial markets. Oeconomia Copernicana, 13(3), 699–743.
• Boot-Handford, M. E., Abanades, J. C., Anthony, E. J., Blunt, M. J., Brandani, S., Mac Dowell, N., Fernandez, J. R., Ferrari, M. C., Gross, R., Hallett, J. P. (2014). Carbon capture and storage update. Energy & Environmental Science, 7(1), 130–189.
• Brodny, J., & Tutak, M. (2023). The level of implementing sustainable development goal "Industry, innovation and infrastructure" of Agenda 2030 in the European Union countries: Application of MCDM methods.Oeconomia Copernicana,14(1), 47–102.
• Calvo, G., & Valero, A. (2022). Strategic mineral resources: Availability and future estimations for the renewable energy sector. Environmental Development, 41, 100640.
• Capurso, T., Stefanizzi, M., Torresi, M., & Camporeale, S. M. (2021). Perspective of the role of hydrogen in the 21st century energy transition. Energy Conversion and Management, 251, 114898.
• Chang, L, Saydaliev, H. B., Meo, M. S., & Mohsin, M. (2022). How renewable energy matter for environmental sustainability: Evidence from top-10 wind energy consumer countries of European Union. Sustainable Energy Grids & Networks, 31, 100716.
• Cong Doanh, D., Gadomska-Lila, K., & Thi Loan, L. (2021). Antecedents of green purchase intention: A cross-cultural empirical evidence from Vietnam and Poland.Oeconomia Copernicana,12(4), 935–971.
• Darling, S. B., &You, F.Q. (2013). The case for organic photovoltaics. RSC Advances, 3(39), 17633–17648.
• Davidson, N., Mariev, O., & Turkanova, S. (2021). Does income inequality matter for CO2 emissions in Russian regions?. Equilibrium. Quarterly Journal of Economics and Economic Policy, 16(3), 533–551.
• Dvorský, J., Švihlíková, I., Kozubíková, Ľudmila, Frajtova Michalíková, K., & Balcerzak, A. P. (2023). Effect of CSR implementation and crisis events in business on the financial management of SMEs. Technological and Economic Development of Economy, 29(5), 1496–1519.
• Fałdziński, M., Balcerzak, A. P., Meluzín, T., Pietrzak, M. B., & Zinecker, M. (2016). Cointegration of interdependencies among capital markets of chosen Visegrad countries and Germany. In A. Kocourek & M. Vavrousek (Eds.). 34th international conference mathematical methods in economics MME 2016 conference proceedings (pp. 189–194). Liberec: Technical University of Liberec.
• Farid, S., Karim, S., Naeem, M. A., Nepal, R., & Jamasb, T. (2023). Co-movement between dirty and clean energy: A time-frequency perspective. Energy Economics, 119, 106565.
• Fiszeder, P., & Małecka, M. (2022). Forecasting volatility during the outbreak of Russian invasion of Ukraine: Application to commodities, stock indices, currencies, and cryptocurrencies.Equilibrium. Quarterly Journal of Economics and Economic Policy,17(4), 939–967.
• Fraser, T., Chapman, A. J., & Shigetomi, Y. (2023). Leapfrogging or lagging? Drivers of social equity from renewable energy transitions globally. Energy Research & Social Science, 98, 103006.
• Gao, C. J., & Chen, H. X. (2023). Electricity from renewable energy resources: Sustainable energy transition and emissions for developed economies. Utilities Policy, 82, 101543.
• Gyimah, J., Yao, X. L., Tachega, M. A., Hayford, I. S., & Opoku-Mensah, E. (2022). Renewable energy consumption and economic growth: New evidence from Ghana. Energy, 248, 123559.
• Hermesmann, M., & Muller, T. E. (2022). Green, turquoise, blue, or grey? Environmentally friendly Hydrogen production in transforming energy systems. Progress in Energy and Combustion Science, 90, 100996.
• Ibrahim, R. L., Ajide, K. B., Usman, M., & Kousar, R. (2022). Heterogeneous effects of renewable energy and structural change on environmental pollution in Africa: Do natural resources and environmental technologies reduce pressure on the environment? Renewable Energy, 200, 244–256.
• Jonek-Kowalska, I. (2022). Assessing the energy security of European countries in the resource and economic context. Oeconomia Copernicana, 13(2), 301–334.
• Khan, K., Su, C. W., Rehman, A. U., & Ullah, R (2022). Is technological innovation a driver of renewable energy? Technology in Society, 70, 102044.
• Kowalska, A., & Bieniek, M. (2022). Meeting the European green deal objective of expanding organic farming.Equilibrium. Quarterly Journal of Economics and Economic Policy,17(3), 607–633.
• Lebrouhi, B. E., Djoupo, J. J., Lamrani, B., Benabdelaziz, K., & Kousksou, T. (2022). Global hydrogen development-A technological and geopolitical overview. International Journal of Hydrogen Energy, 47(11), 7016–7048.
• Lee, C. C., Wang, F. H., & Chang, Y. F. (2023). Does green finance promote renewable energy? Evidence from China. Resource Policy, 82, 103439.
• Lee, C. C., & Lee, C. C. (2022). How does green finance affect green total factor productivity? Evidence from China. Energy Economics, 107, 105863.
• Li, Y. P., Ramzan, M., Li, X. C., Murshed, M., Awosusi, A. A., Ibrahim, S., & Adebayo, T. S. (2021). Determinants of carbon emissions in Argentina: The roles of renewable energy consumption and globalization. Energy Reports, 7, 4747–4760.
• Lindberg, M. B., Markard, J., & Andersen, A. D. (2019). Policies, actors and sustainability transition pathways: A study of the EU's energy policy mix. Research Policy, 48(10), 103668.
• Liu, H. Y., Khan, I., Zakari, A., & Alharthi, M. (2022). Roles of trilemma in the world energy sector and transition towards sustainable energy: A study of economic growth and the environment. Energy Policy, 170, 113238.
• Liu, Y., & Feng, C. (2023). Promoting renewable energy through national energy legislation. Energy Economics, 118, 106504.
• Mahmood, N., Zhao, Y. J., Lou, Q. Q., & Geng, J. Z. (2022). Role of environmental regulations and eco-innovation in energy structure transition for green growth: Evidence from OECD. Technological Forecasting and Social Change, 183, 121890.
• Matuszewska-Pierzynka, A. (2021). Relationship between corporate sustainability performance and corporate financial performance: evidence from U.S. companies.Equilibrium. Quarterly Journal of Economics and Economic Policy,16(4), 885–906.
• Mujtaba, A., Jena, P. K., Bekun, F. V., & Sahu, P. K. (2022). Symmetric and asymmetric impact of economic growth, capital formation, renewable and non-renewable energy consumption on environment in OECD countries. Renewable & Sustainable Energy Reviews, 160, 112300.
• Nasir, M. H., Wen, J., Nassani, A. A., Haffar, M., Igharo, A. E., Musibau, H. O., & Waqas, M (2022). Energy security and energy poverty in emerging economies: A step towards sustainable energy efficiency. Frontiers in Energy Research, 10, 834614.
• Nishiyama, H., Yamada, T., Nakabayashi, M., Maehara, Y., Yamaguchi, M., Kuromiya, Y., Nagatsuma, Y., Tokudome, H., Akiyama, S., Watanabe, T., Narushima, R., Okunaka, S., Shibata, N., Takata, T., Hisatomi, T., & Domen, K. (2021). Photocatalytic solar hydrogen production from water on a 100-m(2) scale. Nature, 598(7880), 304–307.
• Olabi, A. G., & Abdelkareem, M. A. (2022). Renewable energy and climate change. Renewable & Sustainable Energy Reviews, 158, 112111.
• Qureshi, F., Yusuf, M., Kamyab, H., Vo, D. V. N., Chelliapan, S., Joo, S. W., & Vasseghian, Y. (2022). Latest eco-friendly avenues on hydrogen production towards a circular bioeconomy: Currents challenges, innovative insights, and future perspectives. Renewable & Sustainable Energy Reviews, 168, 112916.
• Ramzan, M., Razi, U., Quddoos, M. U., & Adebayo, T. S. (2022). Do green innovation and financial globalization contribute to the ecological sustainability and energy transition in the United Kingdom? Policy insights from a bootstrap rolling window approach. Sustainable Development, 31(1), 393–414.
• Richterová, E., Richter, M., & Sojková, Z. (2021). Regional eco-efficiency of the agricultural sector in V4 regions, its dynamics in time and decomposition on the technological and pure technical eco-efficiency change. Equilibrium. Quarterly Journal of Economics and Economic Policy, 16(3), 553–576.
• Shahbaz, M., Wang, J. D., Dong, K. Y., & Zhao, J. (2022). The impact of digital economy on energy transition across the globe: The mediating role of government governance. Renewable & Sustainable Energy Reviews, 166, 112620.
• Shuguang W., Luang, S, & Sajid, I. (2022). Green financing role on renewable energy dependence and energy transition in E7 economies. Renewable Energy, 200, 1561–1572.
• Skvarciany, V., Lapinskaite, I., & Volskyte, G. (2021). Circular economy as assistance for sustainable development in OECD countries.Oeconomia Copernicana,12(1), 11–34.
• Stjepanovic, S., Tomic, D., & Skare, M. (2022). A new database on Green GDP; 1970-2019: A framework for assessing the green economy. Oeconomia Copernicana, 13(4), 949–975.
• Sun, Y. P., Anwar, A., Razzaq, A., Liang, X. P., & Siddique, M. (2022). Asymmetric role of renewable energy, green innovation, and globalization in deriving environmental sustainability: Evidence from top-10 polluted countries. Renewable Energy, 185, 280–290.
• Taghizadeh-Hesary, F., Zakari, A., Yoshino, N., Khan, I. (2022). Leveraging on energy security to alleviate poverty in Asian economies. Singapore Economic Review, 68(04), 1063–1090.
• Tzeremes, P., Dogan, E., & Alavijeh, N. K. (2022). Analyzing the nexus between energy transition, environment and ICT: A step towards COP26 targets. Journal of Environmental Management, 326, 116598.
• Tzeremes, P., Dogan, E. , & Alavijeh, N. K. (2022). Analyzing the nexus between energy transition, environment and ICT: A step towards COP26 targets. Journal of Environmental Management, 326, 116598.
• Wang, J., Zhang, S. L., &; Zhang, Q. J. (2021). The relationship of renewable energy consumption to financial development and economic growth in China. Renewable Energy, 170, 897–904.
• Wang, Q., Dong, Z. Q., Li, R. R., Wang, L. L , (2021). Renewable energy and economic growth: New insight from country risks. Energy, 238(C), 122018.
• Yana, S., Nizar, M., Irhamni, & Mulyati, D. (2022). Biomass waste as a renewable energy in developing bio-based economies in Indonesia: A review. Renewable & Sustainable Energy Reviews, 160, 112268.
• Yi, M., Liu, Y. F., Sheng, M. S., & Wen, L. (2022). Effects of digital economy on carbon emission reduction: New evidence from China. Energy Policy, 171, 113271.
• Zheng, M., Feng, G.-F., & Chang, C.-P. (2023). Is green finance capable of promoting renewable energy technology? Empirical investigation for 64 economies worldwide. Oeconomia Copernicana, 14(2), 483–510.

Identifiers

DOI

10.24136/eq.2023.018

Biblioteka Nauki

22393602