Brown Bag Seminar in Economics and Finance

 Brown Bag Seminar in Economics and Finance ­­­­presented by Mohsen Khezri from Bu-Ali Sina University

Title: The Role of R&D in the Effectiveness of Renewable Energy Determinants: A Spatial Econometric Analysis

Date: Monday, April 19
Time: 12:10-12:55

Zoom: https://ju-se.zoom.us/j/65965469113

ABSTRACT 
This study investigates the effects of renewable energy determinants on various renewable energy resources. The empirical results are based on data from 31 Asia-Pacific countries observed from 2000 to 2018. Different diagnostic tests indicate the existence of spatial effects in the renewable energy model. The spatial Durbin model with the time-period and spatial fixed effects was selected for analysis. Scrutinizing empirical studies suggest a lack of theoretical consensus on how renewable energy determinants work. By examining how R&D affects different renewable energy resources, this study attempts to fill the research gap. In addition, the R&D environment is an important factor in determining the effects of GDP and the development of financial markets and institutions. R&D enhancement reduces the impacts of market expansion on hydropower; however, such effects are incremental for solar, wind, bioenergy, and geothermal energy resources. In an environment with a low level of R&D, financial development has positive effects on hydropower generation and negative impacts on other renewable energy types. However, the expansion of R&D expands reverses such effects gradually. The empirical literature shows that different results are obtained for different countries at different levels of R&D. Furthermore, trade openness has been a positive factor in the development of all renewable energy types, while the positive effects of CO2 emissions are observed only on hydropower. The results also revealed the negative (positive) impacts of GDP per capita in neighboring countries with a higher (lower) level of R&D on the development of renewable energy of the origin country. 
Keywords: Renewable Energy; R&D; Asia-Pacific; Spatial Econometric 
JEL Classification: C31; C38; N74; Q20; 

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