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<p>One puzzling outcome in the studies on environmental policy stringency (EPS), renewable energy consumption (REC), and environmental indicator causality is the variability of findings, particularly across model specifications, sample sizes, and time periods. To overcome these discrepancies, this research examines the causal relationships between EPS, REC, and the load capacity factor (LCF) for BRICS countries using the bootstrap rolling window (BRW) approach. The results of the full sample Granger causality test confirm that REC and EPS strongly drive LCF in BRICS countries. However, the results differ depending on the sample period. Besides, there is an asymmetric relationship between REC, EPS, and LCF over time. This asymmetric relationship may result from changes in energy policy, the implementation of new technologies, infrastructure expansion, and external shocks. Furthermore, REC exerts a positive and significant impact on LCF across all BRICS countries, with effect magnitudes of 0.3 in Brazil and Russia, and 0.2 in India, China, and South Africa. Likewise, EPS positively and significantly drives LCF across all BRICS nations, with an impact of 0.9 in India, 0.8 in South Africa, 0.6 in Brazil, 0.5 in Russia, and 0.3 in China. The implication of the findings suggests that flexible and gradual policy designs—which can be adjusted in response to fresh information and insights—might work better than rigid, long-term policies.</p>

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Environmental policy stringency, renewable energy consumption, and load capacity factor in BRICS countries: a bootstrap rolling-window approach

  • 期刊论文

  • 发表日期：

    2026年2月26日

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  • Solomon Prince Nathaniel,
  • Muhammad Saeed Meo,
  • Olajide O. Oyadeyi,
  • Chikaodili Josephine Solomon

摘要

One puzzling outcome in the studies on environmental policy stringency (EPS), renewable energy consumption (REC), and environmental indicator causality is the variability of findings, particularly across model specifications, sample sizes, and time periods. To overcome these discrepancies, this research examines the causal relationships between EPS, REC, and the load capacity factor (LCF) for BRICS countries using the bootstrap rolling window (BRW) approach. The results of the full sample Granger causality test confirm that REC and EPS strongly drive LCF in BRICS countries. However, the results differ depending on the sample period. Besides, there is an asymmetric relationship between REC, EPS, and LCF over time. This asymmetric relationship may result from changes in energy policy, the implementation of new technologies, infrastructure expansion, and external shocks. Furthermore, REC exerts a positive and significant impact on LCF across all BRICS countries, with effect magnitudes of 0.3 in Brazil and Russia, and 0.2 in India, China, and South Africa. Likewise, EPS positively and significantly drives LCF across all BRICS nations, with an impact of 0.9 in India, 0.8 in South Africa, 0.6 in Brazil, 0.5 in Russia, and 0.3 in China. The implication of the findings suggests that flexible and gradual policy designs—which can be adjusted in response to fresh information and insights—might work better than rigid, long-term policies.