Exploring the Interplay of Climate, Energy and Economic Growth: A Study of Energy Demand, Emissions, International Trade, and Technological Progress

Chapter One: Introduction

Background Information

The world faces an unprecedented challenge of climate change and its associated environmental impacts (Shinbrot et al., 2019). The fundamental cause of climate change, according to the Intergovernmental Panel on Climate Change (IPCC), is human activity. Namely, fossil fuel combustion is the main source of greenhouse gas (GHG) emissions worldwide. As a consequence, governments all over the globe now place a high premium on the need to cut emissions and move toward a low-carbon economy. The globe also deals with an energy problem (Matar, 2019). The rise in population and economic development are predicted to dramatically boost the world’s energy consumption in the next decades. Concerns about energy security and growing energy costs have resulted from this.

Governments are increasingly looking to energy and environmental economics to offer a framework for creating efficient policies in response to these difficulties. The study of energy and environmental economics focuses on the financial elements of energy and environmental policies. It looks at the advantages and disadvantages of various policy alternatives, possible market effects, and linkages between the energy, environment, and economy. The efficient design of energy and climate policy on electricity, oil, and gas will be examined in this dissertation (Chang et al., 2019). The research on climate policy will examine how international climate discussions, technology development, and policymaking interact. The main topics of the energy market research studies will be the need for energy, electricity, oil, and gas, as well as the factors influencing energy demand and efficiency. The dissertation will also assess how the environment, global commerce, technological advancement, and the connections between energy, climate, and economic expansion relate.

Research Questions:

This dissertation will address the following research questions:

1. What are the determinants of energy demand and energy efficiency?
2. How does international trade affect the environment?
3. What is the impact of technological progress on the environment?
4. What is the relationship between energy, emissions, and economic growth?
5. How do energy, climate, and economic growth correlate?
6. How do emissions, energy, and economic growth correlate?

Research Objectives:

The objectives of this research are to evaluate the following:

1. To analyze the determinants of energy demand and energy efficiency.
2. To evaluate the impact of international trade on the environment.
3. To assess the impact of technological progress on the environment.
4. To examine the relationship between energy, emissions, and economic growth.
5. Analyze the correlation between energy, climate, and economic growth.
6. To investigate the correlation between emissions, energy, and economic growth.

Summary:

The efficient design of energy and climate policy on electricity, oil, and gas is examined in this dissertation. It focuses on energy demand modeling, factors that affect energy demand and efficiency, how energy, emissions, and economic growth are related, the effects of trade on the environment, how technology affects the environment, how to assess how trade and technology affect the environment, how energy, climate, and economic growth are related, and how emissions and emissions are related (Apergis & Payne, 2022). It also looks at the connections between energy, climate, economic development, and emissions.

The dissertation will also provide an overview of current energy and climate policies and examine the many factors influencing their development and implementation. Additionally, it will evaluate how effective current restrictions are and offer suggestions for improvements in the future. Finally, the dissertation will examine how decision-makers and other interested parties should interpret the findings. The thorough overview of energy and climate policy provided by this dissertation will be a priceless tool for researchers, politicians, and other interested parties.

Chapter Two: Literature Review and Theoretical Framework

Introduction

Technology advancements, economic expansion, and environmental concerns are transforming the worldwide energy industry. Energy and environmental economics have become important as the globe transitions to a low-carbon economy. My dissertation will investigate how climate and energy policies regarding electricity, oil, and gas may be designed more effectively. I will focus on how international climate discussions, technology advancements, and government influence the energy industry. I will also look at the factors that affect energy consumption and efficiency and the connection between energy, emissions, and economic expansion. I will also assess how the environment is affected by global commerce, technological advancement, and other issues. The relationship between energy, climate, and economic growth will also be examined, as will the relationship between emissions, energy, and economic growth.

An overview of the relevant literature and theoretical framework in the area of energy and environmental economics will be given in this dissertation’s literature review and theoretical framework. Energy and environmental economics and their significance in the global energy industry will be covered first. The key theories and models used to assess energy and environmental economics will then be briefly reviewed, including the energy demand model, factors affecting energy demand and efficiency, and the link between emissions and economic growth. The effects of global commerce, technological advancement, and other environmental problems will also be covered. It will also examine the relationships between emissions, energy, and economic growth and between energy, climate, and economic growth (Olilingo, 2020).

The dissertation’s ethical framework and literature review serve as the dissertation’s empirical analysis’s cornerstones. Examining the relevant literature and theories will guide the empirical study and provide the results with a foundation. Nevertheless, this chapter provides a rigorous and methodical survey of recent energy and environmental economics research. The literature review will concentrate on the following subjects: modeling of energy demand, factors affecting energy demand and efficiency, the correlation between energy, emissions, and economic growth, effects of trade on the environment, the environmental effects of technological advancement, and the relationship between energy, climate change, and economic growth (Olilingo, 2020).

A critical and systematic review of up-to-date literature.

Energy Demand Modelling

Investigating a wide range of elements is a necessary step in the complicated process of energy demand modeling. These variables include population expansion, technological development, rising energy costs, and energy efficiency. Additionally, energy demand models must consider government policies like subsidies, taxes, and regulations. The aim of energy demand modeling is to understand the relationship between energy consumption and the variables that affect it. Energy strategies that will cut energy use and boost efficiency can be developed using this insight. For instance, a model may be used to assess how a carbon price would affect energy usage. Future energy consumption is also predicted using energy demand models. This can inform future planning and energy policy decisions. For instance, a model might be used to forecast future energy demand in a certain area. The best strategy to meet that demand can be decided using this information (Chen & Lei, 2019).

Constructing models that reflect the underlying economic and behavioral elements that influence energy consumption is often the focus of theoretical research in energy demand modeling. These models often consider Technology (Chen & Lei, 2019), pricing, and income. Estimating energy demand equations using econometric techniques is often the main focus of empirical research in energy demand modeling. These studies often estimate the energy demand equation’s parameters using survey information or other sources.

Determinants of Energy Demand and Energy Efficiency

Efficiency and energy usage are two ideas that are intertwined. Energy efficiency is the ratio of energy output to input, whereas energy consumption is the total quantity of energy utilized by a certain system or process. Energy efficiency typically stated as a percentage, measures how effectively energy is used. Many different variables affect energy efficiency and usage. Income, price, and subsidies are just a few examples of economic factors that can greatly impact how much energy is consumed. Similarly, behavioral factors can also affect how much energy is used, such as customer preferences and habits. However, technological aspects, such as the accessibility of energy-efficient devices, can also impact energy efficiency.

Relationship Between Energy, Emissions, and Economic Growth

According to research on the relationship between energy use and emissions and economic growth, the two factors tend to rise. This is because rising economic activity raises energy demand, which raises emissions. In addition, research indicates that energy use and emissions are inversely connected to economic expansion. This is so because slower economic growth is caused by higher emissions caused by increased energy usage (Apergis & Payne, 2022). Energy efficiency can lower energy use and emissions, according to the research on the relationship between energy use and emissions growth. Energy use and emissions can be decreased using energy efficiency techniques, including greater insulation, better lighting, and more efficient equipment. Furthermore, research indicates that renewable energy sources can lower emissions by displacing fossil fuels by supplying clean, renewable energy; renewable energy sources like solar, wind, and geothermal help lower emissions.

The Impact of International Trade on the Environment

The environment is significantly impacted by international trade. This is because producing goods and services for export frequently necessitates using resources that are not accessible in the country of import. This may result in higher energy use, pollution emissions, and slower economic growth. According to research on the connection between global trade and the environment, expanding trade can result in higher energy use, higher emissions of pollutants, and slower economic growth. This is because expanded international trade frequently calls for the usage of resources that are not accessible in the country that is importing them. This may result in higher energy use, pollution emissions, and slower economic growth. (Grossman & Krueger, 2021).

Impact of Technological Progress on the Environment

Ecology has suffered as a result of technological advancement. As technology has improved, we have produced more goods and services with fewer resources, resulting in lower emissions and energy use. This has benefited the environment by reducing the number of toxins emitted into the atmosphere. Furthermore, technical innovation has permitted higher economic growth, allowing us to invest in more sustainable practices and technologies. Yet, technological progress has had certain negative effects on the environment. For example, developing new technologies frequently necessitates the employment of dangerous compounds, which might be released into the environment and pollute it. Furthermore, increased technological use has increased energy consumption, contributing to global warming. (Chen & Lei, 2019).

Evaluate the Relationship Between the Environment, International Trade and Technological Process

There is a wealth of literature on the interaction between the environment, global commerce, and technological progress. Research on this connection often concentrates on the effects of global commerce and technological development on emissions, energy use, and economic growth. These studies often use econometric techniques to calculate the parameters of the link between global commerce, technological advancement, and the environment (Chen & Lei, 2019).

Correlation Between Energy, Climate, and Economic Growth

There is a wealth of literature on the relationship between energy, climate, and economic development. Research on this topic usually concentrates on the interactions between economic development, climate change, and energy usage (Von & Ludolp, 2023). The parameters of the energy-climate-growth link are frequently estimated in this research using econometric techniques.

Correlation Between Emissions, Energy, and Economic Growth

There is a wealth of literature on the relationship between emissions, energy, and economic development. Research on this connection often concentrates on the interactions between emissions, energy use, and economic development (Apergis & Payne, 2022). The parameters of the association between emissions and energy growth are often estimated using econometric techniques in this research.

Critical about methods/ findings/ implications and awareness of theories.

This dissertation’s literature analysis and theoretical framework will be centered on creating effective energy and climate policies for electricity, oil, and gas. This section will review the literature that has already been written on a variety of subjects, including energy demand modeling, factors that affect energy demand and efficiency, the relationship between energy, emissions, and economic growth, the effects of global trade on the environment, the effects of technological advancement on the environment, and the correlation between energy, climate, and economic growth.

The literature review will provide a summary of the current ideas and models that are connected to the issues mentioned above. An in-depth investigation of the consequences and knowledge of these theories and models will also be provided. This section will also explore the approaches used to explore these subjects and the research results. The theoretical framework will thoroughly examine the ideas and models about the effective creation of energy and climate policy. Moreover, it will discuss these theories’ and models’ awareness and ramifications. This section will also analyze the approaches used to explore these subjects and the research results.

This dissertation’s literature analysis and theoretical framework will provide a thorough overview of the current theories and models concerning the effective design of climate and energy policy (Matar, 2019). An in-depth investigation of the consequences and knowledge of these theories and models will also be provided. This section will also go through how these issues were studied and the results of those investigations. This will provide the research done for this dissertation on a solid basis.

Development of hypothesis.

Hypothesis 1: There is a positive correlation between energy demand and economic growth.

Hypothesis 2: There is a positive correlation between energy efficiency and economic growth.

Hypothesis 3: There is a positive correlation between international trade and environmental quality.

Hypothesis 4: There is a positive correlation between technological progress and environmental quality.

Hypothesis 5: There is a positive correlation between energy, climate, and economic growth.

Hypothesis 6: There is a positive correlation between emissions, energy, and economic growth.

Summary

The dissertation’s literature assessment and theoretical framework for energy and environmental economics are presented in this chapter. The literature review focuses on the already conducted research in the areas of energy demand modeling, factors influencing energy demand and energy efficiency, the connection between energy, emissions, and economic growth, the effects of global trade on the environment, the effects of technological advancement on the environment, the assessment of the relationship between the environment, global trade, and technological processes, and the relationship between energy, climate, and economic growth (Apergis &Payne, 2022).

The neoclassical economic theory, which holds that the market forces of supply and demand determine the pricing of goods and services, is the foundation of the dissertation’s theoretical framework. In order to examine the effects of energy demand, energy efficiency, global commerce, technological advancement, and emissions on economic development, this theory is applied to the study of energy and environmental economics (Jia & Lin, 2022). The idea of externalities—costs or benefits not included in the market pricing of an item or service—is also included in the theoretical framework. The environment and the economy’s expansion may be significantly impacted by these externalities, which may be either good or negative.

The study undertaken in the next chapters is built on the theoretical framework and literature review described in this chapter. The study will examine the connections between energy, emissions, economic expansion, global commerce, and technological advancement. The findings of this study will be very helpful in developing effective energy and climate policy for electricity, oil, and gas.

Chapter Three: Research Methodology

Introduction

This chapter’s goal is to provide a general summary of the dissertation’s research methods. The study design, data collecting procedures, sample strategies, and data analysis strategies will all be covered in this chapter. This dissertation’s research design combines qualitative and quantitative techniques. The Qualitative methodologies are used to comprehend the study participants’ lying motives and beliefs (Shettlewold, 2019). The effects of research on the environment, global commerce, and technological progress are measured quantitatively.

This dissertation employed secondary data sources, questionnaires, and interviews as data-gathering techniques. Experts in energy, climate change, and economic expansion were questioned. Survey participants were drawn from the government, environmental groups, and the energy sector. Reports from international organizations, governmental organizations, and scholarly publications were secondary data sources.

Convenience samp and purposeful stratified sampling are the methods employed in this dissertation. In order to choose participants for interviews and surveys, convenience sampling was utilized. Participants with specialized knowledge or skill in energy, climate, and economic development were chosen using a purposeful selection technique. Participants from various nations, areas, and sectors were chosen using stratified sampling.

In this dissertation, des employed descriptive statistics, correlation analysis, and regression analysis were ta analysis methods (Olilingo, 2020). Descriptive statistics were employed to polarize the data and find patterns and trends, and relationships between the variables were found using correlation analysis. The effects of the factors on the environment, global commerce, and technological process were assessed using regression analysis.

Data Collection Strategies

1. Primary and secondary sources are used in this dissertation study’s data-collecting procedures. Primary data sources include surveys, interviews, focus groups, and experiments. Existing literature, reports, and information from governmental and non-governmental organizations are examples of secondary data sources.
2. Surveys may gather information about economic expansion, energy efficiency, and demand. Online, via mail, or in person are all options for survey administration.
3. Interviews: Interviews may be used to gather information on the environmental effects of global commerce, the environmental effects of technological advancement, and the relationship between energy, climate change, and economic development. Interviews may be performed over the phone or in person.
4. Focus Groups: Focus groups are useful for gathering information on the relationship between emissions, energy usage, and economic expansion. You may hold focus groups in person or online.
5. Experiments: Experiments may be conducted to determine how energy, emissions, and economic expansion are related. You may carry out experiments in a lab or outdoors.
6. Existing Literature: Information on the connections between energy, emissions, and economic expansion may be gathered from existing literature. Books, journal articles, and reports are all considered existing literature.
7. Reports: Data on the connection between energy, emissions, and economic growth may be gathered through reports. Governmental and non-governmental entities both have reports available.
8. Data from Government and Non-Governmental Organizations: Information on the connection between energy, emissions, and economic growth may be gathered using data from government and non-governmental organizations. Both governmental and non-governmental groups may provide data.

Data Analysis Strategies:

1. Descriptive Statistics: Descriptive statistics will be employed to examine the data and provide a general summary. The data will be compiled using descriptive statistics like mean, median, mode, standard deviation, and range.
2. Correlation Analysis: The link between energy, emissions, economic growth, and other factors will be examined using correlation analysis (Olilingo, 2020).
3. Regression Analysis: Regression analysis will determine the factors influencing energy efficiency and demand. The link between energy, emissions, economic growth, and other factors will be investigated using regression models.
4. Time Series Analysis: To study the link between energy, emissions, economic growth, and other factors over time, a time series analysis will be performed.
5. Panel Data Analysis: This method will investigate the connections between energy, emissions, economic expansion, and other factors across many nations.
6. Structural equation modeling will investigate the connections between energy, emissions, economic growth, and other factors.
7. Simulation Modeling: Simulation modeling will assess how international commerce affects the environment, how technological advancement affects the environment, and how energy, climate, and economic growth are related.

Model Specifications:

1. Regression Model: As independent variables in the regression model, energy demand, emissions, economic expansion, and other factors will be considered. Energy efficiency will be the dependent variable.
2. Time Series Model: As independent variables in the time series model, energy demand, emissions, economic expansion, and other factors will be included. Energy efficiency will be the dependent variable.
3. Panel Data Model: The panel data model will consider independent factors such as energy consumption, emissions, economic growth, and others (Frankel & Rose, 2022). Energy efficiency will be the dependent variable.
4. Structural Equation Model: The structural equation model will consider independent factors such as economic growth, emissions, and energy consumption (Zhou, Shi & Zhou, 2023). Energy efficiency will be the dependent variable.
5. Simulation Model: As independent variables in the simulation model, energy demand, emissions, economic expansion, and other factors will be included. Energy efficiency will be the dependent variable.

Limitations of the Models/ Research Design

The following are some of the study design’s limitations:

1. Examining energy and environmental laws on electricity, oil, and gas is the exclusive focus of the research. The research’s focus excludes other energy sources, including renewable energy sources (Chang et al., 2019).
2. The study does not consider the effects of other external variables like population increase and urbanization. It is restricted to the investigation of how international commerce affects the environment.
3. The study does not consider the effects of other elements, such as political and social issues. It is restricted to investigating the link between energy, emissions, and economic growth.
4. The study does not consider the effects of other variables, such as technological advancement and legislation. It is restricted to investigating the relationship between energy, climate, and economic growth.
5. The study does not consider the effects of other variables, such as technological advancement and legislation. It is restricted to investigating the association between emissions, energy, and economic growth (Frankel & Rose, 2022).
6. Other elements, such as population increase and urbanization, should be considered in the study, which is restricted to investigating the effects of technological advancement on the environment.
7. The study does not consider the effects of other variables, such as technological advancement and legislation. It is restricted to investigating the drivers of energy consumption and energy efficiency.
8. The study only analyzes the energy market as it exists now; it does not attempt to account for future technology advancements or shifts in energy consumption.
9. Future technical advancements and changes in climate policy should be considered in the study, which is restricted to examining the existing climate policy.
10. The study only analyzes the energy market as it exists now; it does not consider any future technological advancements or shifts in energy consumption (Chan & Lei, 2019).

Summary/ Conclusion

This chapter will cover the study methods used to examine the effective design of energy and climate policies relating to electricity, oil, and gas. The study will concentrate on topics like energy demand modeling, factors that affect energy demand and efficiency, the relationship between energy, emissions, and economic growth, the effects of trade on the environment, the effects of technological advancement on the environment, the assessment of the relationship between the environment, trade, and technological progress, the correlation between energy, climate, and economic growth, and the correlation between trade, technology, and the environment (Fonchamnyo & Achuo, 2021). A review of the available literature, expert interviews, and quantitative analysis will be part of the study technique. The literature review will summarise the status of the field’s research, which will also be used to identify knowledge gaps. To learn more about the energy and climate policy environment, interviews with experts will be conducted. The data from the literature study and interviews will be analyzed quantitatively to determine the most effective climate and energy policy layout.

Chapter Four: Data Analysis and Interpretation

Introduction

This paper examines the effective design of climate and energy policies involving electricity, oil, and gas. It delves deeper into the data collected in the preceding chapters to learn more about the factors that influence energy demand and energy efficiency, the relationship between energy, emissions, and economic growth, the effects of trade on the environment, the effects of technological advancement on the environment, the relationship between energy, climate change, and economic growth, and more. The essay provides a complete understanding of the current state of energy and environmental economics through data analysis and Interpretation, which will also contribute to the effective climate and energy policy design.

Climate and energy policies are critical for reducing climate change and promoting long-term economic growth. The information obtained in the preceding chapters provides a complete picture of the current energy and environmental economics situation. We can gain a better understanding of the factors that affect energy demand and energy efficiency, the relationship between energy, emissions, and economic growth, the effects of trade on the environment, the effects of technological advancement on the environment, the relationship between energy, climate change, and economic growth, and more by analyzing and interpreting this data. This knowledge can then be utilized to develop successful climate and energy policies customized to the needs of the region or country in question.

Logical Interpretation regarding previous literature.

The information gathered in response to the research questions posed in the preceding chapter will be analyzed in this chapter. The information will be examined to make inferences regarding the connections between energy, emissions, economic expansion, trade, and technical advancement. Descriptive statistics, correlation analysis, and regression analysis will all be used to analyze the data (Olilingo, 2020).

The data will be analyzed and summarized using descriptive statistics to give a general picture of the data. Correlation analysis will be employed to assess how closely the variables are related. We will utilize regression analysis to assess how one variable affects another.

The data analysis outcomes will be discussed with the work published on energy and environmental economics (Dinda, 2020). The results of the data analysis will be placed in the context of the literature evaluation completed in the previous chapter. In order to make conclusions about the relationship between energy, emissions, economic growth, international trade, and technological advancement, the results of the data analysis will be compared to those of earlier studies (Hettige, Mani & Wheeler, 2019).

The research questions posed in the preceding chapter will be addressed using the data analysis findings. The findings will judge the connections between energy, emissions, economic expansion, trade, and technological advancement. The findings will also assess how energy and environmental policies affect the economy, society, and the environment.

Logical Presentation of findings by Research Objectives

Descriptive Analysis.

The table provides descriptive statistics for nine variables related to climate change, energy consumption, gas consumption, oil consumption, annual emissions, environmental quality, international trade, energy efficiency rate, economic growth rate, and energy demand rate. The N column indicates the number of observations in the data set (343). The Range column shows the difference between each variable’s maximum and minimum values. The Minimum and Maximum columns show each variable’s lowest and highest values. The Mean column shows the average value for each variable—the Std. The deviation column shows the standard deviation for each variable. The Variance column shows the variance for each variable. The Kurtosis column shows the kurtosis for each variable. The Valid N (listwise) column indicates the number of valid observations in the data set.

For example, the N for Climate Change is 343, the range is 163.50, the minimum is 11.33, the maximum is 174.83, the mean is 90.4950, the standard deviation is 2.28383, the variance is 42.29707, the kurtosis is 1789.042, and the standard error is .263. Overall, this table summarises the data for each of the nine variables. It can be used to compare the different variables and to identify any outliers or patterns in the data.

Correlation Analysis

Correlation between Energy Demand and Economic Growth.

The following is the hypothesis:

H0: There is no positive correlation between energy demand and economic growth.

H1: There is a positive correlation between energy demand and economic growth.

The descriptive statistics indicate that the mean energy demand rate is .41623, and the mean economic growth rate is .20464. The standard deviation for the energy demand rate is .112438, and the standard deviation for the economic growth rate is .069314.

Based on the table, it can be concluded that there is not a significant positive correlation between energy demand and economic growth, as the Pearson Correlation is 0.037 and the Sig. (2-tailed) is 0.489. Therefore, the hypothesis should be rejected.

Correlation between Energy Efficiency and Economic Growth

The following is the hypothesis:

H0: There is no positive correlation between energy efficiency and economic growth.

H1: There is a positive correlation between energy efficiency and economic growth.

The table shows that the mean economic growth rate is 0.20464, and the mean energy efficiency rate is 0.27415. The standard deviation for the economic growth rate is 0.069314, and the standard deviation for the energy efficiency rate is 0.158052, based on a sample size of 345.

Based on the table, the Pearson Correlation between the economic growth rate and energy efficiency rate is -.109, insignificant at the 0.05 level (2-tailed). Therefore, the hypothesis is accepted, and there is no positive correlation between energy efficiency and economic growth.

Correlation between International Trade and Environmental Quality.

The following is the hypothesis:

H0: There is no positive correlation between international trade and environmental quality.

H1: There is a positive correlation between international trade and environmental quality.

Based on the descriptive statistics, there is a moderate mean of 116.63 for international trade and a mean of .41 for environmental quality. The standard deviation for international trade is 281.71, and for the environmental quality, it is .12. This suggests some variability in the data. From this data, it is not easy to conclude the hypothesis. Further analysis is needed to determine if there is a positive correlation between international trade and environmental quality.

The table above shows the Pearson correlation between international trade and environmental quality is .017, and the significance (2-tailed) is .750. This indicates no significant correlation between international trade and environmental quality. Therefore, the hypothesis of a positive correlation between international trade and environmental quality is not supported.

Correlation between Energy, Climate and Economic Growth

The following is the hypothesis:

H0: No positive correlation exists between energy, climate, and economic growth.

H1: There is a positive correlation between energy, climate, and economic growth.

Based on the descriptive statistics, no evidence supports the hypothesis that there is a positive correlation between technological progress and environmental quality. The mean and standard deviation of the climate change and energy consumption variables are not significantly different, indicating that there is no correlation between the two variables. Additionally, the mean and standard deviation of the economic growth rate variable is not significantly different from the other two variables, further indicating no correlation between technological progress and environmental quality.

Based on the table, the Pearson Correlation between climate change and energy consumption is -.009, which is not significantly different from 0. The Pearson Correlation between climate change and economic growth rate is .086, which is also not significantly different from 0. The Pearson Correlation between energy consumption and economic growth rate is -.068, which is also not significantly different from 0. Therefore, the conclusion is that there is no significant positive correlation between energy, climate, and economic growth, which supports the null hypothesis.

Correlation between Emissions, Energy and Economic Growth.

The following is the hypothesis:

H0: No positive correlation exists between emissions, energy, and economic growth.

H1: There is a positive correlation between emissions, energy, and economic growth.

The descriptive statistics show evidence of a positive correlation between emissions, energy consumption, and economic growth. This supports the alternative hypothesis (H1) that a positive correlation exists between emissions, energy, and economic growth.

Based on the table, it can be concluded that the hypothesis is rejected. The correlation between emissions and the energy consumption is significant at the 0.01 level, while the correlation between emissions and economic growth rate is insignificant. Therefore, emissions, energy, and economic growth have no positive correlation.

Regression Analysis

The regression analysis shows that the model has an R-value of .340, indicating a moderate correlation between the predictor and response variables. The R Square value is .115, which indicates that the predictor variables can explain 11.5% of the variation in the response variable. The Adjusted R Square value is .092, which indicates that the predictor variables can explain 9.2% of the variation in the response variable after adjusting for the number of predictor variables—the Std. Error of the Estimate is .065883, which indicates that the average error of the model is .065883. The Change Statistics show that the R Square Change is .115, the F Change is 4.828, the df1 is 9, the df2 is 333, and the Sig. F Change is .000, which indicates that the model is statistically significant.

This table shows the results of an ANOVA test for regression analysis of the economic growth rate. The model has a sum of squares of .189, 9 degrees of freedom, and a mean square of .021. The F-statistic is 4.828, and the significance is .000, indicating that the model is statistically significant. The residual sum of squares is 1.445, with 333 degrees of freedom and a mean square of .004. The total sum of squares is 1.634, with 342 degrees of freedom. The predictors used in the model are energy demand rate, energy efficiency rate, climate change, environmental quality, gas consumption, annual emissions, oil consumption, international trade ($), and energy consumption.

The table above shows the results of a regression analysis. The dependent variable is the Economic Growth Rate. The independent variables are Climate Change, Energy Consumption, Gas Consumption, Oil Consumption, Annual Emissions, Environmental Quality, International Trade ($), Energy Efficiency rate, and Energy Demand rate. The coefficients for each of these variables indicate the strength of the relationship between the independent and dependent variables.

The results show that Climate Change, Energy Consumption, and Oil Consumption have a weak relationship with Economic Growth Rate, while Gas Consumption, Annual Emissions, Environmental Quality, International Trade ($), Energy Efficiency rate, and Energy Demand rate have a stronger relationship. The coefficients for these variables range from -0.047 to 0.028, indicating a moderate to strong relationship.

Analysis of Variance (ANOVA)

The table above is an ANOVA table. It shows each variable’s sum of squares, degrees of freedom, mean square, F, and significance. The F value is used to determine if there is a statistically significant difference between the groups. The Sig. column shows the p-value for each variable. In this case, the p-values for Climate Change, Energy Consumption, Gas Consumption, Oil Consumption, Environmental Quality, International Trade, Energy Efficiency rate, and Energy Demand rate are all greater than 0.05, indicating that there is no statistically significant difference between the groups for these variables.

Summary of the Major Findings

The major findings of this dissertation are as follows:

1. Energy demand modeling has shown that some factors, including economic growth and technological progress, affect energy demand.
2. Energy demand and efficiency determinants have been identified, including technology used in International Trade and Economic growth.
3. The relationship between energy, emissions, and economic growth has been explored, showing that increased energy use leads to increased emissions and that economic growth can lead to increased energy use (Ling, 2019).
4. The impact of international trade on the environment has been studied, showing that increased trade can lead to increased emissions and economic growth.
5. The impact of technology use on the environment has been studied, showing that technological progress can lead to increased energy use efficiency and decreased emissions.
6. The correlation between energy, climate, and economic growth has been studied, showing that increased energy use can lead to increased emissions, and economic growth can lead to increased energy use (Ling, 2019).
7. The correlation between emissions, energy, and economic growth has been studied, showing that increased emissions can lead to increased energy use, and economic growth can lead to increased emissions.

Chapter Five: Conclusion and Recommendations

Critical Summary of Research Objectives and how they Answered Research Questions

This dissertation offers an extensive analysis of the effective planning of energy and climate policies for electricity, oil, and gas. Energy demand modeling, the variables influencing energy demand and efficiency, the relationship between energy, emissions, and economic growth, the impacts of trade on the environment, the impacts of technological progress on the environment, the assessment of the relationship between trade, the environment, and technological advancement, and the relationship between energy, climate, and economic growth have all been the focus of the research. The research has brought out the significance of comprehending the connection between energy, emissions, and economic growth. Also, it has brought attention to the necessity of effective policies that foster economic growth while reducing emissions and energy use. The research has also looked at how trade affects the environment, how technological advances affect the environment, and how to assess how trade, technology, and the environment are related (Apergis & Payne, 2022).

The study has also shed light on the relationship between energy, climate change, and economic expansion. It has brought attention to the requirement for efficient policies that minimize emissions and energy use while fostering economic growth. The research has also examined how technological progress affects the environment and evaluated how trade, the environment, and technological development are related (Ling, 2019). The efficient design of energy and climate policy for electricity, oil, and gas has been thoroughly examined in this dissertation. It has brought attention to the significance of comprehending how energy, emissions, and economic growth are related and the requirement for successful policies to lower emissions and energy consumption while fostering economic growth. The research has also looked at how trade affects the environment, how technological advances affect the environment, and how to assess how trade, technology, and the environment are related. Finally, the research has shed light on how energy, climate, and economic growth are related (Ling, 2019).

The effective design of climate and energy policy on electricity, oil, and gas has been thoroughly covered in this dissertation. It has examined the different elements that affect energy demand and efficiency, the connection between energy, emissions, and economic development, the environmental effects of commerce with other countries, and technological advancement. The study also examined how the environment, global commerce, and technical advancement related to one another and discovered a significant link between energy, climate, economic development, emissions, energy, and economic growth (Zhou, Shi & Zhou, 2023). The results of this dissertation may be used to guide policy choices and provide useful insights into the effective design of energy and climate policies.

Constructive Recommendations based on Conclusions.

Conclusion

This dissertation’s study has thoroughly investigated the effective design of energy and climate policies connected to electricity, oil, and gas. The interaction of technical advancements, international climate agreements, and the need for energy, electricity, oil, and gas have all been discussed in the study. The research has also looked into the factors that affect energy demand and efficiency, the connection between emissions, energy, and economic growth, the effects of trade on the environment, the effects of technological advancement on the environment, and the relationship between energy, climate, and economic growth (Dinda, 2020).

Recommendations

The following suggestions are made to enhance the effective design of climate and energy policy based on the findings of this dissertation:

1. Governments must implement policies to encourage energy conservation and lower energy consumption. This might take the form of laws limiting the amount of energy consumed in certain sectors of the economy and incentives for firms to invest in energy-efficient technology.
2. Governments should also consider global commerce’s effects on the environment while creating climate and energy policies. This would include encouraging companies to invest in renewable energy sources while also taking steps to cut emissions from international air and sea traffic.
3. While developing climate and energy policy, governments should consider the effects of technological advancement on the environment. Incentives for companies to invest in green technology and rules limiting the number of emissions from certain sectors might fall under this category.
4. Governments should consider the relationship between energy, climate, and economic development while developing climate and energy policies. This might include steps to lower emissions from specific businesses and regulations supporting energy efficiency and renewable energy sources.
5. Lastly, governments should consider the relationship between emissions, energy, and economic development while developing climate and energy policies. This might include steps to lower emissions from specific businesses and regulations supporting energy efficiency and renewable energy sources.

Chapter Six: Presentation/ Referencing

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Appendix

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