| Title |
The impact of economic complexity, technology advancements, and nuclear energy consumption on the ecological footprint of the USA: Towards circular economy initiatives |
| ID_Doc |
3687 |
| Authors |
Hassan, ST; Wang, P; Khan, I; Zhu, BZ |
| Title |
The impact of economic complexity, technology advancements, and nuclear energy consumption on the ecological footprint of the USA: Towards circular economy initiatives |
| Year |
2023 |
| Published |
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| Abstract |
The circular economy decouples economic activity from finite resource consumption, creating a resilient system that can tackle global challenges such as climate change, biodiversity loss, waste, and pollution. Nuclear energy has been designated as one of the primary concerns of energy sector modernization because it allows for significant reductions in dangerous material emissions into the environment. Therefore, nuclear energy and improved technologies may become critical growth areas aligned with circular economy principles. We use Dynamic Autoregressive Distributive Lag (DARDL) and Kernel-based Regularized Least Squares (KRLS) to analyze United States data from 1985 to 2016 empirically. The DARDL result shows a positive relationship between ecological footprint and economic complexity, increasing short-term environmental costs. However, nuclear power generation and improved technology significantly reduce ecological concerns. Economic complexity is explored in this work in more nuanced terms, emphasizing the importance of considering the external environment when implementing different economic activities. Policy implications, study limitations, and future research directions are discussed. (c) 2022 International Association for Gondwana Research. Published by Elsevier B.V. All rights reserved. |
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