Rahmane, Amal; Abdelaoui, Okba; Djouadi, Issam
A icle
En i onmen al egula ion and enewable ene gies:
E idence om gene alized panel uncondi ional quan ile
eg ession
Cen al Eu opean Economic Jou nal (CEEJ)
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Sugges ed Ci a ion: Rahmane, Amal; Abdelaoui, Okba; Djouadi, Issam (2024) : En i onmen al
egula ion and enewable ene gies: E idence om gene alized panel uncondi ional quan ile
eg ession, Cen al Eu opean Economic Jou nal (CEEJ), ISSN 2543-6821, Sciendo, Wa saw, Vol. 11,
Iss. 58, pp. 252-268,
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To ci e his a icle
Rahmane, A., Abdelaoui, O., Djouadi, I. (2024). En i onmen al Regula ion
and Renewable Ene gies: E idence om Gene alized Panel Uncondi ional
Quan ile Reg ession. Cen al Eu opean Economic Jou nal, 11(58), 252-268.
DOI: 10.2478/ceej-2024-0017
To link o his a icle: h ps://doi.o g/10.2478/ceej-2024-0017
En i onmen al Regula ion and
Renewable Ene gies: E idence om
Gene alized Panel Uncondi ional
Quan ile Reg ession
Amal Rahmane,
Okba Abdelaoui,
Issam Djouadi
Open Access. © 2024 A. Rahmane, O. Abdelaoui, I. Djouadi, published by Sciendo.
This wo k is licensed unde he C ea i e Commons A ibu ion 4.0 In e na ional License.
Amal Rahmane
Uni e si y o Mohamed Khide Bisk a, Depa men o Economics,
BP 145 RP, 07000 Bisk a, Alge ia
co esponding au ho : amal. ahmane@uni -bisk a.dz
Okba Abdelaoui
Uni e si y o Eloued , Depa men o Comme ce, PB 789 El Oued, Alge ia, Uni e si y o
Oua gla, Labo a o y o Requi emen s o he P omo ion and De elopmen o Eme ging
Economies in he Con ex o In eg a ion in o he Global Economy (LEPEM),
A e 1e No emb e 1954, Oua gla, Alge ia
Issam Djouadi
Highe Na ional School o S a is ics and Applied Economics, Koléa Uni e si y Cen e ,
Depa men o Applied Economics, 42400, Koléa, Tipaza, Alge ia
En i onmen al Regula ion and Renewable Ene gies:
E idence om Gene alized Panel Uncondi ional
Quan ile Reg ession
Abs ac
This s udy aims o measu e he impac o en i onmen al egula ion on he p oduc ion o enewable ene gies in OECD
coun ies om 1990 o 2021. En i onmen al policies s ingency, en i onmen al axes, and CO2 emissions a e a iables
indica ing en i onmen al egula ion, which a ec enewable ene gies p oduc ion. The s udy elied on uncondi ional
quan i a i e eg ession me hods. The s udy ound ha s ic en i onmen al policies do no necessa ily enhance
enewable ene gy p oduc ion in coun ies wi h high o low p oduc ion. Mo eo e , en i onmen al ax e enues ha e
a ying impac s on enewable ene gy p oduc ion based on enewable ene gy p oduc ion in each coun y. Fo
coun ies wi h below-a e age le els o enewable ene gy (Q25), en i onmen al axes posi i ely a ec enewable ene gy
p oduc ion; howe e , in coun ies wi h high p oduc ion le els (Q90), en i onmen al axes show a nega i e e ec .
Fu he mo e, CO2 emissions nega i ely a ec he o al p oduc ion o enewable ene gy in all quan iles excep Q50,
whe eas R&D spending posi i ely a ec s enewable ene gies in all quan iles excep Q75. The es ima es also showed a
signi ican nega i e e ec o pa en s on he enewable ene gy p oduc ion in quan ile Q10. The esul s unde sco e he
impo ance o lexibili y and adap abili y in en i onmen al policies and axes. Finally, he s udy indica es ha policies
mus be dynamic and espond o he speci ici y o each s age o enewable ene gy de elopmen in he s udied
coun ies.
Keywo ds
s ingency o en i onmen al policies | en i onmen al axes | CO2 emissions | p oduc ion o enewable ene gies |
quan ile eg ession
JEL Codes
C01, K32, Q42
1. In oduc ion
The global ene gy c isis includes inc easing g ow h in
he global demand o ene gy, wi h limi ed ese es
a ailable om adi ional sou ces, and he ise o p ices
since 2014. Ano he issue is he in e na ional in e es
in con on ing he phenomenon o clima e change.
In his con ex , bo h local and in e na ional in e es
in discussing ene gy issues is compulso y in o de o
achie e sus ainable de elopmen goals by shi ing om
an economy based on adi ional ene gy o an economy
based on a sus ainable one.
CEEJ • 11(58) • 2024 • pp. 252-268 • ISSN 2543-6821 • DOI: 10.2478/ceej-2024-0017 254
Ene gy ansi ion e e s o he global ene gy
sec o ’s shi om ossil-based sys ems o ene gy
p oduc ion and consump ion—including oil, na u al
gas, and coal— o enewable ene gy sou ces such as
wind, sola , and li hium-ion ba e ies (S&P Global,
2020).
The ene gy ansi ion is a con inuous p ocess
equi ing long- e m ene gy s a egies and planning
wi h a coun y- ailo ed ocus on applying app op ia e
ene gy echnologies o each ne -ze o emissions
(Uni ed Na ions De elopmen P og amme, 2023).
In 2015, he Uni ed Na ions Clima e Change
Con e ence (UNFCCC) in Pa is adop ed a
ans o ma i e uni e sal clima e change ag eemen .
This landma k ag eemen a icula es he social and
economic oppo uni ies o e ed by low emissions
and a clima e- esilien u u e. I also a icula es he
in insic ela ionship be ween clima e change ac ion,
sus ainable de elopmen , and po e y e adica ion.
The 2015 Pa is Ag eemen ep esen s a his o ic
u ning poin as a global esponse o he need o
u gen ac ion a scale o mi iga e clima e change.
A he same ime, he UN 2030 Agenda and he
Sus ainable De elopmen Goals (SDGs) call o ac ion
by all coun ies o imp o e people’s li es e e ywhe e
(Uni ed Na ions, 2018, p. 3).
Se en een SDGs we e announced, wi h goal
numbe se en de ining a ge s o “ensu e access o
a o dable, eliable, sus ainable and mode n ene gy
o all” (Uni ed Na ions Economic Commission o
Eu ope, n.d.).
Bo h he Pa is Ag eemen and he 2030 Agenda
(wi h SDGs, pa icula ly SDG 7) se clea di ec ions and
pa hs o humani y owa ds a de elopmen powe ed
by clean ene gy. These ag eemen s a e based on he
e icien use o esou ces and a e de ined by esilience
o clima e impac s (Uni ed Na ions, 2018, p. 3).
Ene gy ansi ion is d i en by a combina ion
o ac o s, including en i onmen al egula ions.
En i onmen al egula ion e e s o he imposi ion
o limi a ions o esponsibili ies on indi iduals,
co po a ions, and o he en i ies o p e en
en i onmen al damage o imp o e deg aded
en i onmen s (McManus, 2009).
En i onmen al egula ions can ha e a signi ican
in luence on ene gy ansi ion pe o mance in se e al
ways (Zou and Wang, 2023):
• S ingen en i onmen al egula ions, such as
emissions s anda ds and enewable ene gy a ge s,
can incen i ize indus ies and indi iduals o
ansi ion owa ds cleane ene gy sou ces.
• En i onmen al egula ions can d i e echnological
ad ancemen s and inno a ion in he ene gy sec o .
• Clea and consis en en i onmen al egula ions
p o ide s abili y and ce ain y o businesses and
in es o s in he ene gy sec o .
• En i onmen al egula ions can in luence
consume beha io and ene gy consump ion
pa e ns.
The p esen s udy sheds ligh on he ela ionship
be ween en i onmen al egula ion and enewable
ene gy p oduc ion in OECD coun ies du ing 1990–
2021. The s udy elied on uncondi ional quan i a i e
eg ession me hods. To de e mine he e ec s o he
independen a iables on he dis ibu ion o he
dependen a iable, we used quan ile eg ession,
which allows o se e al e ec s o he independen
a iables on he dependen a iable.
We di ide he a icle in o mul iple sec ions. Fi s ,
he in oduc ion add esses en i onmen al egula ion
and enewable ene gies. In he second sec ion, we
e iew he li e a u e. In he hi d sec ion, we examine
he exis ing body o li e a u e. In he ou h sec ion,
we examine he esul s o he s udy. Las ly, we p o ide
some concluding ema ks.
2. Li e a u e Re iew
Many au ho s ha e ackled he ela ionship be ween
en i onmen al egula ions and ene gy ansi ion.
Acco ding o he a ailable li e a u e, we can di ide
hem in o s udies ha ound a nega i e ela ionship
be ween he wo a iables and s udies ha ound a
posi i e ela ionship, i.e., en i onmen al egula ions
can lead o an inc ease in enewable ene gy p oduc ion
o consump ion. In addi ion, some s udies ha e used
enewable ene gy consump ion; in con as , o he s
ha e used enewable ene gy p oduc ion, ep esen ed
by he numbe o pa en s in enewable ene gy o he
enewable ene gy capaci y.
Conce ning he i s g oup o s udies, Bashi e
al. (2022) sugges ed ha en i onmen al egula ions
impede enewable ene gy consump ion in OECD
economies. In addi ion, Li e al. (2022) claimed ha
in BRICST (B azil, Russia, India, China, Sou h A ica,
Tu key) economies, he en i onmen al s ingency
CEEJ • 11(58) • 2024 • pp. 252-268 • ISSN 2543-6821 • DOI: 10.2478/ceej-2024-0017 255
index con ibu ed posi i ely o enewable ene gy
consump ion wi h low consump ion o enewable
ene gy and ice e sa. Likewise, Huang and Zou
(2020) ound ha ene gy-speci ic en i onmen al
egula ion has a signi ican posi i e impac on ene gy
ansi ion in China; howe e , his impac is weakened
by high-ene gy in ensi y.
Mo eo e , in se e al s udies, en i onmen al
axes ha e been ound o ha m he p oduc ion o
enewable ene gy (Bilan e al., 2022; Al ay Topcu,
2023; Dogan e al., 2023). In addi ion, he esea ch
o Fa han Bashi e al. (2020) conduc ed on bio uel
p oduc ion and consump ion indica ed a signi ican
impac o en i onmen al axa ion on he olumes o
bio uel p oduc ion and consump ion. Simila ly, he
empi ical esul s o he wo k o Reguei o-Fe ei a and
Cada al Samped o (2022) sugges ed ha inc easing
en i onmen al axes hinde s he deploymen o
enewable ene gy in EU coun ies.
Howe e , many s udies ound a posi i e
ela ionship be ween enewable ene gy p oduc ion
o consump ion and en i onmen al egula ions. Fo
ins ance, Wissema and Dellink (2007) disco e ed
ha a ca bon ene gy ax o 10–15 eu os pe onne o
CO2 could achie e a 25.8% educ ion a ge in I eland;
simul aneously, i s imula es enewable ene gy use
and educes pea and coal use. In addi ion, Nes a
e al. (2014) ound ha enewable ene gy policies
a e mo e e ec i e in os e ing g een inno a ion
in coun ies wi h libe alized ene gy ma ke s. We
also ind ha en i onmen al policies a e c ucial
only gene a ing high-quali y g een pa en s, whe eas
compe i ion enhances he gene a ion o low-quali y
g een pa en s. Mo eo e , Hille e al. (2020) concluded
ha mo e comp ehensi e po olios o enewable
ene gy suppo policies inc ease pa en ing in sola
and wind-powe - ela ed echnologies.In addi ion,
Godawska and Wy obek (2021) claimed ha
s ingen en i onmen al policies, e en ually imp o e
enewable ene gy p oduc ion and he eplacemen
o ene gy om ossil sou ces. Ba nea e al. (2022)
e ealed ha ma ke -based ins umen s (MBIs)
a ec enewable ene gy p oduc ion. Regula o y and
ma ke ins umen s, along wi h elec o al democ acy
and go e nmen e ec i eness, expand wind and
sola elec ici y p oduc ion. Fu he mo e, Zhang
e al. (2022) ound ha economical en i onmen al
egula ions ha e he g ea es posi i e impac on
sus ainable g ow h o enewable ene gy en e p ises.
In con as , esou ce endowmen has a nega i e
mode a ing e ec on en i onmen al egula ions and
g ow h. Simila ly, Yang and Zhong (2022) concluded
ha g een supe ision and public egula ions
signi ican ly enhance enewable ene gy in es men s
in China, while g een accoun ing egula ions show no
signi ican impac .
Zhang and Chen (2022) also ound a mu ual
p omo ing e ec be ween enewable ene gy
echnological inno a ion and en i onmen al
egula ion in ensi y. Addi ionally, he indings o
Dzwigol e al. (2023) con i med ha en i onmen al
egula ion has a media ing posi i e e ec on
in e connec ions among knowledge spillo e ,
inno a ions, and enewable ene gy.
Mo eo e , Zhao e al. (2022) showed ha
en i onmen al egula ion signi ican ly con ibu es
o enewable ene gy de elopmen . Liu e al. (2023b)
exhibi ed ha g een ene gy in es men , inancial
de elopmen , and en i onmen al policy s ingency
e en ually s imula e sus ainable ene gy ansi ion.
Mani es ly, he in e ac ion be ween inancial
de elopmen and ecological egula ions o e s a
compa a i ely s onge in luence han hei indi idual
e ec s, implying ha e ec i e en i onmen al
egula ions di ec he mo emen o inancial
esou ces owa d he enewable ene gy ansi ion.
Las ly, Ul a un Najicha e al. (2023) concluded ha
ansi ion managemen has an essen ial ole in he
shi owa ds enewable ene gy p oduc ion. I in ol es
p oac i e managemen and accele a ion o ansi ions
in he ene gy sec o , ocusing on secu ing ene gy
jus ice. The jus ansi ion managemen amewo k
combines ansi ion managemen wi h he concep
o “jus ansi ions” in o de o mi iga e nega i e
impac s on wo ke s and communi ies in adi ional
ene gy p oduc ion egions. This amewo k can help
iden i y poli ical ba ie s o ansi ions and achie e
dis ibu ional, ecogni ion, and p ocedu al jus ice in
he ene gy sec o .
Some wo ks ocused on he link be ween
en i onmen al egula ions and enewable ene gy
e iciency. Fo example, Zhang and Du (2022) claimed
ha en i onmen al egula ion di ec ly imp o es he
g een ene gy e iciency o pollu ing indus ies and
clean indus ies, and i has a posi i e in e media y
ole be ween echnology and g een ene gy e iciency
in China. Simila ly, Liu e al. (2023a) had mul iple
indings. Fi s , he e a e ou g een ene gy e iciency
enhancemen pa hs: he go e nmen p essu e ype, he
ma ke mobiliza ion ype, he go e nmen -led public
associa ion ype, and he mul iple subjec ype. Second,
he command-and-con ol ype o en i onmen al
egula ion enhances g een ene gy e iciency in mos
CEEJ • 11(58) • 2024 • pp. 252-268 • ISSN 2543-6821 • DOI: 10.2478/ceej-2024-0017 256
p o inces o China. Thi d, he mul iple subjec ype o
enhancemen pa hs can achie e highe g een ene gy
e iciency.
Finally, Zou and Wang (2023) examined he
ela ionship be ween en i onmen al egula ion and
ene gy ansi ion pe o mance in China. The s udy
employed s a is ical analysis echniques o analyze
he co ela ion be ween en i onmen al egula ion
s ingency and a ious ene gy ansi ion me ics,
including enewable ene gy capaci y, ca bon in ensi y,
and ene gy e iciency. The indings p o ided aluable
insigh s in o he ole o en i onmen al egula ion in
shaping China’s ene gy ansi ion landscape. .
To conclude, o he ecen s udies a e close o
ou s. We men ion Hasan e al. (2023), who ound
ha ossil uel consump ion leads o en i onmen al
de e io a ion, while enewable ene gy consump ion,
inancial de elopmen , and ade openness enhance
en i onmen al quali y. Addi ionally, he esul s
suppo he alidi y o he EKC (En i onmen al
Kuzne s Cu e) hypo hesis o all BRICS coun ies
(B azil, Russia, India, China, and Sou h A ica).
In addi ion, Yang e al. (2023) employed he no el
quan ile-based econome ics app oach o “Me hod
o he Momen s Quan ile Reg ession” (MMQR),
which p o ides he di ec ion and magni ude o he
asymme ic associa ion o na u al esou ces NTR,
g een inance GFN, g een ene gy GEC, and economic
g ow h GDP wi h he ecological oo p in . This
es ’s esul s e ealed ha he NTR and GDP ha e
a signi ican ly posi i e in luence, whe eas GEN and
GEC ha e signi ican ly nega i e associa ions wi h
an ecological oo p in ac oss all quan iles. This
implied ha g een inance and g een ene gy wo k as
he solu ion, while na u al esou ces and economic
g ow h a e key d i e s o en i onmen al deg ada ion.
Las ly, Igeland e al. (2024) indica ed ha economic
policy unce ain y (EPU) posi i ely impac s he
e u ns o enewable s ocks, a ibu ing ha o an
inc eased engagemen owa ds a enewable ansi ion.
3. S udy Va iables and Model
This s udy aims o es ima e he impac o
en i onmen al egula ion on he p oduc ion o
enewable ene gies o judge whe he en i onmen al
egula ion has con ibu ed o maximizing he oles o
inno a ion. Thus, i con ibu es o he c ea ion o new
in es men s in clean indus ies and en i onmen ally
iendly sec o s, and i expands p oduc ion in
hese sec o s. This is done by conside ing he
impac o en i onmen al policy s eng h (EPS),
en i onmen al ela ed ax e enue (ERTR), esea ch
and de elopmen expendi u e (RDE), pa en s
(pa en applica ions, esiden s) (PAR), CO2 emissions
(CO2EME), en i onmen ally adjus ed mul i ac o
p oduc i i y g ow h (EAMPG), households and
NPISHs (Non-p o i ins i u ions se ing households)
inal consump ion expendi u e (FCE), and g oss ixed
capi al o ma ion (GFCF) on o al enewable ene gy
(TRE). Acco dingly, he model is w i en as ollows:
TRE= (EPS,ERTR,CO2EME,EAMPG,PAR,RDE,FCE,GFCF)
The OECD da abase was elied on o s udy da a
ela ed o he p oduc ion o enewable ene gies, he
s ingency o en i onmen al policies, en i onmen al
axes, CO2EME , and EAMPG. We also elied on
he Wo ld Bank da abase o he a iables o amily
expendi u e, ixed capi al accumula ion, esea ch and
de elopmen (R&D) expendi u es, and pa en s.
4. Me hod and Tools
Es ima ion has wo s a egies. The i s s a egy is
s a ic panel da a analysis; in his s a egy, we used
he Fishe es o compa e pooled and ixed e ec s,
and in he nex s ep, we used he Hausman es o
dis inguish ixed and andom e ec s models. To
assess he model’s s a is ical obus ness, we used
he Pesa an es o con i m ha he esiduals a e
no co ela ed a he c oss-sec ional le el. Nex , we
es ed he e oscedas ici y using he modi ied Wald
es . Addi ionally, o es au oco ela ion, we applied
he Woold idge es . Con e sely, i one o hese h ee
di icul ies exis s, he model mus be es ima ed using
easible gene alized leas squa es.
The indings o he Fishe es e eal ha he ixed
e ec s (FE) model is mo e alid and e ec i e han he
pooled model. The Hausman es showed ha he FE
model is mo e e ec i e han he andom e ec s (RE)
model; hus, we use i o he es o he obus ness
es s. In he Pesa an CD es , esiduals co ela e a he
c oss-sec ional le el. He e oskedas ici y is seen in he
modi ied Wald es . Fu he mo e, he Woold idge
es showed an au oco ela ion o esiduals. We mus
es ima e FE using he easible gene alized leas squa es
(FGLS) me hod.
CEEJ • 11(58) • 2024 • pp. 252-268 • ISSN 2543-6821 • DOI: 10.2478/ceej-2024-0017 257
The second me hod uses uncondi ional quan ile
eg ession. One o he main bene i s o he o dina y
leas squa es app oach is i s consis en es ima ion o
he independen a iables’ impac on he dependen
a iable. The law o i e a i e expec a ions con e ges
he condi ional mean E(Y/X) o he uncondi ional
mean E(Y). The e o e, con en ional leas squa es
calcula e he independen a iables’ in luence on he
dependen a iable’s mean alue wi hou conside ing
how hey a ec one o i s le els.
Quan ile eg ession is among he mos impo an
econome ic me hods ha seek he e ec s o
independen a iables on he dis ibu ion o he
dependen a iable (Ma ínez-Za zoso e al., 2019).
In addi ion, he p oduc ion o enewable ene gies
and hei le els di e be ween he coun ies unde
s udy. The e o e, esea ch on he ac o s a ec ing
he p oduc ion o enewable ene gies equi es ha
i be buil based on quan ile eg ession es ima es o
a oid p oblems o he e ogenei y in he dis ibu ion
o da a. This ype o eg ession is mo e obus han
OLS (o dina y leas squa es) due o he p oblems o
he e ogenei y, ou lie s, and s uc u al change. This
allows us o d aw conclusions abou he in luence
o independen a iables on he dis ibu ion o he
dependen a iable.
Koenke and Basse (1978) i s in oduced
quan ile eg ession, whe e he pa ame e s o he model
β _τ ep esen he ma ginal e ec o he a iable X
on he quan ile τ o he dis ibu ion Y condi ional on
he a e age alues o all o he a iables. This ype is
called condi ional quan ile eg ession, which akes
in o accoun he dis ibu ion o independen a iables.
The e o e, condi ional quan ile eg ession p o ides
us wi h he ma ginal e ec o he a iable X on he
quan ile τ o he dis ibu ion Y, aking in o accoun
all changes occu ing in hese independen a iables.
Acco ding o Fi po e al. (2009), condi ional
quan ile eg ession does no answe he ques ion ha
aims o sea ch o he ma ginal e ec o he a iable
X on he quan ile τ o he dis ibu ion Y, wi h o he
ac o s emaining cons an . In his con ex , Fi po
e al. (2009) de eloped a me hod o sea ch o he
ma ginal e ec o he a iable X on he quan ile τ
o he dis ibu ion Y wi h o he ac o s emaining
cons an , called uncondi ional quan ile eg ession.
In his me hod, we ob ain he pa ame e s o β _τ
ha co espond o he e ec on he quan i y τ o Y
ega dless o he changes occu ing in he es o he
independen a iables. The pa ame e s a e es ima ed
based on he ecen e ed in luence unc ion (RIF).
This ype o eg ession p o ides us wi h wo ypes
o pa ame e s. The i s pa ame e ep esen s he
ma ginal e ec o he a iable X on he quan ile τ o
he dis ibu ion Y. The second pa ame e ep esen s
he e ec s o o e all changes in he dis ibu ion o
independen a iables (policy e ec ) on he quan ile
τ o he dis ibu ion Y based on a non-pa ame ic
app oach.
5. Resul s and Discussion
Table 1 p o ides de ailed da a on he main s a is ical
desc ip i e measu es, including he mean, s anda d
de ia ion, and minimum and maximum alues o
dependen and independen a iables ac oss sample
coun ies. G ow h a e exhibi ed he highes ola ili y
alues pe he s anda d de ia ion me ics, whe eas he
ERTR demons a ed he lowes alues. Fu he mo e,
based on he esul s o he Ja que–Be a es , i was
de e mined ha six o he a iables exhibi ed a non-
no mal dis ibu ion a a signi icance le el o 5%,
whe eas wo a iables had a no mal dis ibu ion.
The indings om Table 2 show ha he e is no
high co ela ion among he a iables, indica ing he
absence o mul icollinea i y in he es ima ed model.
The esul s o he s a ic model es ima ion
con i m he signi ican posi i e e ec o s ingen
en i onmen al policies, en i onmen al ax e enues,
CO2 emissions, pa en s, and in es men in o al
enewable ene gies. In con as , he ou comes o he
s a ic model es ima ion show he signi ican nega i e
e ec o bo h he g ow h a e and spending on R&D
on o al enewable ene gy.
Es ima es o uncondi ional quan ile con en ional
s anda d e o s show a signi ican posi i e e ec o he
s ingency o en i onmen al policies in he quan iles
Q25, Q50, and Q75 ela ed o he dis ibu ion o o al
enewable ene gies. This means ha he s ingency
o en i onmen al policies does no lead o an inc ease
in he le els o enewable ene gies in coun ies
cha ac e ized by high and weak le els o enewable
ene gies. The esul s main ain hei s a is ical
signi icance wi h he es ima es: boo s apped
s anda d e o s. In con as , hese esul s keep hei
s a is ical signi icance wi h he Q75 quan ile wi h
bo h he clus e – obus s anda d e o s and he
clus e –boo s apped s anda d e o s.
Addi ionally, he es ima es e eal a signi ican
posi i e e ec o en i onmen al ax e enues on o al
CEEJ • 11(58) • 2024 • pp. 252-268 • ISSN 2543-6821 • DOI: 10.2478/ceej-2024-0017 258
enewable ene gies in Quan ile Q25. I also shows
he signi ican nega i e e ec o en i onmen al
ax e enues on he o al enewable ene gies in
Quan ile Q90. These esul s main ain hei s a is ical
signi icance wi h he es ima es: boo s apped s anda d
e o s in addi ion o he s a is ical signi icance o he
nega i e impac o Q50 in hese es ima es. These
esul s also main ain hei s a is ical signi icance
wi h he quan ile Q25 wi h he clus e – obus
s anda d e o s. This indica es ha en i onmen al
ax e enues con ibu e o inc easing o al enewable
ene gies in coun ies wi h lowe - han-a e age le els
o enewable ene gies. Howe e , hey ad e sely a ec
o al enewable ene gies in coun ies wi h medium
and high le els.
Table 1. S a is ics Desc ip i e o Va iables S udy
Va iable Mean S d. de . Min Max Ja que–Be a
es
p- alue
To al enewable ene gy 9.716629 1.999758 2.890372 15.08672 84.71 0.0000
En i onmen al policy s ingency 2.03709 1.174578 05.055555 318.99 0.0000
En i onmen ally ela ed ax e enue 6.581747 0.8795824 2.88759 8.155826 1224.68 0.0000
CO2 emissions 11.58532 1.558937 7.152589 15.56919 3.04 0.2184
Pa en applica ions 7.402104 2.23668 0.8526029 12.86712 28.80 0.0000
Resea ch and de elopmen expendi u e 1.676507 0.9343578 0.25067 5.00197 16.47 0.0003
G ow h a e 2.218023 4.115878 -14.62906 24.37045 801.61 0.0000
G oss ixed capi al o ma ion 25.00864 1.651858 20.30501 29.2283 3.56 0.1686
Obse a ions: N =1056, n =33, T =32
Sou ce: STATA 16.0
Table 2. Co ela ion Ma ix
To al
enewable
ene gy
En i on-
men al
Policy
S in-
gency
En i onmen-
ally Rela ed
Tax Re enue
CO2
emissions
Pa en
applica-
ions
R&D
expendi-
u e
G ow h
a e
G oss ixed
capi al
o ma ion
To al enewable
ene gy
1.0000
En i onmen al
policy s ingency
0.2096 1.0000
En i onmen ally
ela ed ax
e enue
–0.0489 0.3926 1.0000
CO2 emissions 0.4253 0.0516 –0.1258 1.0000
Pa en
applica ions
0.5782 0.2537 0.0420 0.5957 1.0000
R&D expendi u e 0.3516 0.4917 0.3552 0.1887 0.5100 1.0000
G ow h a e –0.0482 –0.1153 0.0676 –0.0168 –0.0567 –0.0056 1.0000
G oss ixed
capi al o ma ion
0.6874 0.4009 0.0238 0.6294 0.8670 0.4277 –0.0520 1.0000
Sou ce: STATA 16.0
CEEJ • 11(58) • 2024 • pp. 252-268 • ISSN 2543-6821 • DOI: 10.2478/ceej-2024-0017 259
Fu he mo e, he es ima es indica e a signi ican
nega i e impac o CO2EMEs on he o al p oduc ion
o enewable ene gy in all quan iles excep Q50.
These esul s main ain hei s a is ical signi icance
wi h he es ima es: boo s apped s anda d e o s,
which indica es ha CO2EMEs weaken he le els o
enewable ene gy p oduc ion. In all coun ies o he
han hose wi h in e media e le els, hese esul s
main ain hei s a is ical signi icance wi h he Q10
quan ile wi h he es ima es: clus e – obus s anda d
e o s. In con as , hese esul s keep hei s a is ical
signi icance wi h Q90 wi h he clus e – obus
s anda d e o s and clus e –boo s apped s anda d
e o s in mos quan iles.
Addi ionally, he es ima es display a signi ican
posi i e e ec o spending on R&D on o al enewable
ene gies in all quan iles excep Q75. These esul s
main ain hei s a is ical signi icance wi h he
es ima es: boo s apped s anda d e o s. This
indica es ha spending on R&D inc eases he le els
o enewable ene gies in all coun ies excep he
ones wi h abo e-a e age le els. These esul s also
main ain hei s a is ical signi icance wi h Q90 wi h
clus e – obus s anda d e o s. In con as , hese
esul s keep hei s a is ical signi icance wi h Q25
wi h he es ima es: clus e – obus s anda d e o s and
clus e –boo s apped s anda d e o s.
Table 3. To al Renewable Ene gy S a ic Models
Pooled Fixed Random GLS
En i onmen al policy s ingency –.273*** .152*** .145*** .056***
En i onmen ally ela ed ax e enue –.161*** –.029 –.038 .08***
CO2 emissions –.045 –1.297*** –.805*** .203***
Pa en applica ions –.208*** .026 .016 .196***
Resea ch and de elopmen expendi u e .428*** .433*** .443*** –.028***
G ow h a e –.014 –.034*** –.031*** –.004***
G oss ixed capi al o ma ion 1.077*** .44*** .475*** .286***
_cons –14.236*** 12.773*** 6.329*** –1.848***
Obse a ions 1056 1056 1056 1056
*** p<.01, ** p<.05, * p<.1
Sou ce: P epa ed by he au ho s based on STATA 16.0
Table 4. To al Renewable Ene gy Non-Robus
Q10 Q25 Q50 Q75 Q90
En i onmen al policy s ingency –.177 .177* .201*** .563*** –.016
En i onmen ally ela ed ax e enue .184 .241*** –.086 –.013 –.159**
CO2 emissions –2.585*** –.698** –.01 –1*** –2.162***
Pa en applica ions –.779*** –.188 .115 .043 –.056
Resea ch and de elopmen expendi u e .862*** 1.074*** .196* –.148 .391***
G ow h a e –.017 –.035*** –.045*** –.011 –.013
G oss ixed capi al o ma ion 2.201*** .658*** .182 –.65*** –.128
_cons –14.352* –2.208 4.678 37.747*** 40.951***
Obse a ions 1056 1056 1056 1056 1056
*** p<.01, ** p<.05, * p<.1
Sou ce: P epa ed by he au ho s based on STATA 16.0
CEEJ • 11(58) • 2024 • pp. 252-268 • ISSN 2543-6821 • DOI: 10.2478/ceej-2024-0017 266
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CEEJ • 11(58) • 2024 • pp. 252-268 • ISSN 2543-6821 • DOI: 10.2478/ceej-2024-0017 268
Appendices
Figu e 1. Sca e g aph be ween a iables
Sou ce: STATA 16.0
