A research team led by a Near East University scholar has recently published a comprehensive study examining the influence of economic globalization and political stability on the usage of renewable energy in Vietnam, in the context of environmental degradation. This research offers valuable insights aligned with the goals of affordable and clean energy, decent work and economic growth, and climate action.

Spanning from 1984 to 2019, the study employs a dynamic autoregressive distributed lag (ARDL) approach to analyze how economic growth, economic globalization, and political risk impact the adoption of renewable energy in Vietnam. The findings indicate that economic growth positively influences renewable energy use in both the short and long term. Economic globalization is also found to positively affect renewable energy in the long term, though its short-term impact appears neutral. Conversely, political risk and environmental degradation are negatively associated with renewable energy usage.

The study highlights the complex interplay between economic and political factors in shaping renewable energy policies and practices. The results suggest that economic globalization can act as a catalyst for renewable energy promotion through capital inflow, foreign direct investment, and technological transfer. Moreover, political stability plays a crucial role in fostering an environment conducive to renewable energy adoption.

The research also employs the frequency domain approach, revealing a causal relationship from political risk to renewable energy and a feedback loop between renewable energy and environmental degradation. These findings underscore the importance of considering both economic and political dimensions in developing sustainable energy policies.

In conclusion, this study, led by a researcher from Near East University, emphasizes the need for Vietnam’s policymakers to integrate economic globalization strategies with renewable energy initiatives. By doing so, Vietnam can effectively leverage global market integration and political stability to enhance its renewable energy usage, contributing to the global efforts in achieving sustainable development and mitigating environmental degradation.

For further details, access the original paper from the publisher’s link:

https://link.springer.com/article/10.1007/s11356-022-23665-7