Document Type : Research Paper
Authors
1
Associate Professor, Department of Economic Sciences, Faculty of Humanities and Social Sciences, University of Kurdistan, Sanandaj, Iran
2
Master of Science (MSc) Student in Economics, Department of Economics, Faculty of Humanities and Social Sciences, University of Kurdistan, Sanandaj, Iran.
3
Postdoctoral in Economics, Faculty of Humanities and Social Sciences, University of Kurdistan, Sanandaj, Iran
10.22034/epj.2024.21125.2556
Abstract
The development and use of renewable energy is necessary to deal with climate change, global warming, reduce environmental pressures and ensure energy security in developing economies, including Iran. Therefore, it is important to analyze the factors affecting the consumption of renewable energy. In previous studies, the role of financial development, financial risk and environmental innovation on the consumption of renewable energy has been given less attention. Therefore, the aim of this research is to investigate the individual and interactive effect of financial development, financial risk and environmental innovation on renewable energies in Iran using the Dynamic Ordinary Least Squares Estimator (DOLS) method during the period (1990-2022). The results show that the variables of environmental innovation and financial development have a positive effect and financial risk has a negative effect on the consumption of renewable energy. On the other hand, financial development and financial risk have respectively strengthened and weakened the effect of environmental innovation on renewable energy consumption. Other results show that economic growth and trade openness have an increasing effect and greenhouse gas emissions have a decreasing effect on renewable energy consumption. Based on the results of the research, it is suggested that by reducing risk and improving financial resources to increase environmental innovations, the share of renewable energy use in the country will increase.
. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Keywords
Main Subjects
)