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Impact of renewable energy consumption, globalization, and technological innovation on environmental degradation in Japan: application of wavelet tools

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Abstract

With regard to environmental degradation in Japan, the world's third-largest economy, limited studies have been performed to illustrate the ecological aspects of the country's core and recent economic policies such as globalization, technological innovation, and renewable energy usage policies. Given this motivation, this research reveals a new perspective on the connection between CO2 emissions and GDP growth, renewable energy, technological innovation and globalization in Japan by employing wavelet statistical tools. The paper employs series of wavelet tools for datasets covering the period from 1990Q1 to 2015Q4. The empirical outcomes demonstrate proof of the interaction between renewable energy use, economic growth, technological innovation, globalization and CO2 emissions in both time and frequency. The empirical results of the wavelet analyses reveal that globalization, GDP growth, and technological innovation increase CO2 emissions in Japan, while renewable energy usage mitigates CO2 in the short and medium terms. The results demonstrate the significance of implementing policies effectively coordinated by the policymakers to curb the significant environmental degradation in Japan. Moreover, Japan should actively support renewable energy development and create a more competitive climate for investment in the renewable energy market.

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Notes

  1. Note: Short-, medium- and long-run correlations are illustrated by scales 1–2, 2–8, and 8–16, respectively.

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Authors and Affiliations

  1. Faculty of Economics and Administrative Sciences, Department of Business Administration, Cyprus International University, Northern Cyprus, TR-10, Mersin, Turkey

    Tomiwa Sunday Adebayo

  2. Faculty of Economics and Administrative Sciences, Department of Banking and Finance, European University of Lefke, Northern Cyprus, TR-10, Mersin, Turkey

    Dervis Kirikkaleli

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  1. Tomiwa Sunday Adebayo
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Adebayo, T.S., Kirikkaleli, D. Impact of renewable energy consumption, globalization, and technological innovation on environmental degradation in Japan: application of wavelet tools. Environ Dev Sustain 23, 16057–16082 (2021). https://doi.org/10.1007/s10668-021-01322-2

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