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Urbanization, Economic Development, and Environmental Degradation: Investigating the Role of Renewable Energy Use

Abstract:

The current study explored the impact of renewable energy use, urbanization, economic growth and trade in services on CO<inf>2</inf> emission in Maldives by using annual data series ranging from 1990 to 2020. We have checked the variables influences by utilizing the nonlinear autoregressive distributed lag (NARDL) method with long-run and short-run connections. Findings via long-run and short-run showed that the variables renewable energy use and economic growth has positive and negative coefficients via positive and negative shocks that uncover the constructive and adverse linkage to CO<inf>2</inf> emission in Maldives. Similarly, trade in services showed an adversative and positive connection to CO<inf>2</inf> emission via positive and negative shocks. During the analysis, the variable urbanization uncovered a negative linkage to CO<inf>2</inf> emission. It is imperative that Maldives implement new policies and strategies aimed at reducing CO<inf>2</inf> emission in order to avert the environmental devastation.