Publication:
Impact of zero-emission vehicles on CO2 emissions: a value proposition from Islamic economics
Abstract
This study examines the dynamic linkages between CO2 emissions and the stock of zero-emissions vehicles (ZEVs) of 28 leading ZEVs users' countries by employing the two-step system GMM model and yearly data from 2015 to 2019. Moreover, this study attempts to bring some value propositions from Islamic economics to the ZEVs and CO2 emissions nexus. The estimated results indicate that the stock of ZEVs and per-capita GDP have an inverse impact on CO2 emissions, while trade openness indicates a positive impact on environmental degradation and is statistically significant. Furthermore, financial development has positive consequences on CO2 emission but is statistically insignificant. Besides, Islamic financial institutions and individuals have no restriction to ZEVs industries because the finding complies with Islamic jurisprudence. Finally, several policy implications are focused on mitigating carbon dioxide and encouraging the production and consumption of ZEVs based on Islamic economic perspectives.
Keywords
Zero-emissions vehicles , CO2 emissions , Financial development , Electric vehicle , Fossil fuel , Fuel-cell electric vehicle , Project paper (MSc)
Citation
Shoyed, M. (2021). Impact of zero-emission vehicles on CO2 emissions: a value proposition from Islamic economics (Master dissertation). INCEIF, Kuala Lumpur. Retrieved from https://ikr.inceif.org/handle/INCEIF/3987
Publisher
INCEIF
Available in PDF format. Kindly email to kmc@inceif.edu.my to access the item