科研之友
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摘要
Economic sustainability is a critical concern when considering the dynamic effects of renewable and nonrenewable energy generation. This study aims to investigate the impact of renewable and non-renewable energy generation, energy technology, the labor force, and capital formation on economic sustainability in Canada from 1990 to 2021. As a step further, we also explore the moderating role of energy technology using a dynamic ARDL simulation model and Bayer and Hanck combined cointegration test. Study results reveal that renewable energy generation positively impacts economic sustainability in both the short and long term. Nonrenewable energy generation shows positive effects in the short term but has a negative impact on economic sustainability in the long term. Labor availability initially affects economic sustainability negatively in the short run but becomes insignificant over time. Gross capital formation consistently contributes positively to economic sustainability. The study also highlights the importance of integrating renewable and nonrenewable energy generation with energy technology for enhanced economic sustainability. To stimulate economic sustainability, policymakers should prioritize promoting renewable energy due to its consistently positive impact in the short and long term. A gradual transition from nonrenewable energy is crucial to mitigate long-term disadvantages. Labor development should adapt over time, and encouraging capital formation is vital. Integrating energy sources with advanced technologies maximizes economic sustainability. These measures aim to support economic sustainability and foster a sustainable and resilient future for Canada.
