Version 1
: Received: 4 September 2024 / Approved: 4 September 2024 / Online: 4 September 2024 (16:06:32 CEST)
How to cite:
Abdel- Gadir, S. E.; Mohammed, M. G. Oman's Green Horizon: Steering Towards Sustainability through Decarbonization and Energy transition. Preprints2024, 2024090381. https://doi.org/10.20944/preprints202409.0381.v1
Abdel- Gadir, S. E.; Mohammed, M. G. Oman's Green Horizon: Steering Towards Sustainability through Decarbonization and Energy transition. Preprints 2024, 2024090381. https://doi.org/10.20944/preprints202409.0381.v1
Abdel- Gadir, S. E.; Mohammed, M. G. Oman's Green Horizon: Steering Towards Sustainability through Decarbonization and Energy transition. Preprints2024, 2024090381. https://doi.org/10.20944/preprints202409.0381.v1
APA Style
Abdel- Gadir, S. E., & Mohammed, M. G. (2024). Oman's Green Horizon: Steering Towards Sustainability through Decarbonization and Energy transition. Preprints. https://doi.org/10.20944/preprints202409.0381.v1
Chicago/Turabian Style
Abdel- Gadir, S. E. and Mwahib Gasmelsed Mohammed. 2024 "Oman's Green Horizon: Steering Towards Sustainability through Decarbonization and Energy transition" Preprints. https://doi.org/10.20944/preprints202409.0381.v1
Abstract
This paper examines the determinants of CO2 emissions in Oman from 1990 to 2022, focusing on the impacts of energy consumption, economic growth, urbanization, financial development, and foreign direct investment. Utilizing stepwise regression, robust least squares, Fully Modified Least Squares (FMOLS), Canonical Cointegrating Regression (CCR), and various cointegration tests including the Johansen cointegration test, Engle-Granger cointegration test, and Vector Error Correction (VEC) model, the study reveals several key findings. Energy use per capita (ENGY) and real GDP per capita (RGDPC) are consistently significant positive predictors of CO2 emissions. Urbanization (URB) also significantly contributes to higher emissions. Conversely, Financial Development Index (FDX) and foreign direct investment (FDI) do not show significant effects on CO2 levels. The high R-squared values across models indicate that these variables explain a substantial portion of the variation in emissions. Cointegration tests confirm long-term equilibrium relationships among the variables, with the Johansen test identifying two cointegrating equations and the Engle-Granger test showing significant tau-statistics for FDX, ENGY, and URB. The VEC model further highlights the short-term dynamics and adjustment mechanisms. These findings underscore the importance of energy policy, economic development, and urban planning in Oman's efforts towards sustainable development and decarbonization.
Keywords
Decarbonization; Energy Transition; Oman; Cointegration
Subject
Business, Economics and Management, Economics
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
