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Article

Do Public–Private Partnership Investment in Energy and Technological Innovation Matter for Environmental Sustainability in the East Asia and Pacific Region? An Application of a Frequency Domain Causality Test

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Department of Business Administration, Faculty of Economics and Administrative Science, Cyprus International University, Northern Cyprus Mersin 10, Nicosia 99010, Turkey
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Department of Marketing and Advertising, Ali Rıza Veziroğlu Vocational School, Kocaeli University, Kocaeli 41780, Turkey
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Faculty of Applied Sciences, WSB University, 41-300 Dąbrowa Górnicza, Poland
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Department of Banking and Finance, Faculty of Economics and Administrative Sciences, European University of Lefke, Northern Cyprus, Mersin 10, Lefke 99010, Turkey
*
Author to whom correspondence should be addressed.
Academic Editor: José Manuel Vassallo
Sustainability 2021, 13(6), 3039; https://doi.org/10.3390/su13063039
Received: 7 February 2021 / Revised: 25 February 2021 / Accepted: 26 February 2021 / Published: 10 March 2021
Environmental sustainability is an important issue for current scholars and policymakers in the East Asian and Pacific region. The causal and long-run effects of technological innovation, public–private partnership investment in energy, and renewable energy consumption on environmental sustainability in the East Asian and Pacific regions have not been comprehensively explored while taking into account the role of economic growth using quarterly data for the period 1992–2015. Therefore, the present study aims to close this literature gap using econometric approaches, namely Bayer–Hanck cointegration, autoregressive distributed lag (ARDL), dynamic ordinary least square (DOLS), and fully modified ordinary least square (FMOLS) tests. Furthermore, the study utilizes the frequency domain causality test to capture the causal impact of public–private partnership investment in energy, renewable energy consumption, technological innovation, and economic growth on CO2 emissions. The advantage of the frequency domain causality test is that it can capture the causality between short-term, medium-term, and long-term variables. The outcomes of the ARDL, FMOLS and DOLS show that renewable energy consumption and technological innovation mitigate CO2 emissions, while public–private partnership investment in energy and economic growth increase CO2 emissions. Moreover, the frequency causality test outcomes reveal that technological innovation, public–private partnership investment in energy, and renewable energy consumption cause CO2 emissions, particularly in the long-term. Thus, as a policy recommendation, the present study recommends promoting renewable energy consumption by focusing more on technological innovation in the East Asia and Pacific regions. View Full-Text
Keywords: environmental sustainability; public–private partnership in energy; renewable energy consumption; economic growth; technological innovation environmental sustainability; public–private partnership in energy; renewable energy consumption; economic growth; technological innovation
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MDPI and ACS Style

Adebayo, T.S.; Genç, S.Y.; Castanho, R.A.; Kirikkaleli, D. Do Public–Private Partnership Investment in Energy and Technological Innovation Matter for Environmental Sustainability in the East Asia and Pacific Region? An Application of a Frequency Domain Causality Test. Sustainability 2021, 13, 3039. https://doi.org/10.3390/su13063039

AMA Style

Adebayo TS, Genç SY, Castanho RA, Kirikkaleli D. Do Public–Private Partnership Investment in Energy and Technological Innovation Matter for Environmental Sustainability in the East Asia and Pacific Region? An Application of a Frequency Domain Causality Test. Sustainability. 2021; 13(6):3039. https://doi.org/10.3390/su13063039

Chicago/Turabian Style

Adebayo, Tomiwa S., Sema Y. Genç, Rui A. Castanho, and Dervis Kirikkaleli. 2021. "Do Public–Private Partnership Investment in Energy and Technological Innovation Matter for Environmental Sustainability in the East Asia and Pacific Region? An Application of a Frequency Domain Causality Test" Sustainability 13, no. 6: 3039. https://doi.org/10.3390/su13063039

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