TY - JOUR
T1 - Energy efficiency and Jevons' paradox in OECD countries
T2 - policy implications leading toward sustainable development
AU - Yu, Zhang
AU - Ponce, Pablo
AU - Irshad, Ateeq Ur Rehman
AU - Tanveer, Muhammad
AU - Ponce, Katerine
AU - Khan, Abdul Rehman
N1 - Publisher Copyright:
© 2022, The Author(s).
PY - 2022
Y1 - 2022
N2 - Energy consumption is defined as one of the main determinants of environmental degradation. Therefore, this issue becomes one of the main points of debate to achieve sustainable development. This research examines how a set of economic factors determine the energy consumption in Organization for Economic Cooperation and Development countries, for which second-generation econometric methods have been used that control cross-sectional dependence issues. Therefore, the results, using nonlinear methods, suggest the presence of Jevons' paradox in these countries. However, under the Jevons' paradox scenario, technological innovation becomes a factor that mitigates energy demand. Contrary to the foreign direct investment that contributes significantly to the increase in energy consumption, from the results found, some policy implications are derived in the framework of achieving sustainable development.
AB - Energy consumption is defined as one of the main determinants of environmental degradation. Therefore, this issue becomes one of the main points of debate to achieve sustainable development. This research examines how a set of economic factors determine the energy consumption in Organization for Economic Cooperation and Development countries, for which second-generation econometric methods have been used that control cross-sectional dependence issues. Therefore, the results, using nonlinear methods, suggest the presence of Jevons' paradox in these countries. However, under the Jevons' paradox scenario, technological innovation becomes a factor that mitigates energy demand. Contrary to the foreign direct investment that contributes significantly to the increase in energy consumption, from the results found, some policy implications are derived in the framework of achieving sustainable development.
KW - Energy efficiency
KW - Environmental policy
KW - Jevons' paradox
KW - Nonlinear analysis
KW - Sustainable development
KW - Technological innovation
UR - http://www.scopus.com/inward/record.url?scp=85127971766&partnerID=8YFLogxK
U2 - 10.1007/s13202-022-01478-1
DO - 10.1007/s13202-022-01478-1
M3 - Article
AN - SCOPUS:85127971766
SN - 2190-0558
VL - 12
SP - 2967
EP - 2980
JO - Journal of Petroleum Exploration and Production Technology
JF - Journal of Petroleum Exploration and Production Technology
IS - 11
ER -