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Environmental pollution represents a pressing challenge for Morocco, particularly in light of the continuous rise in carbon emissions. Achieving environmental sustainability necessitates a strategic shift toward renewable energy sources and the adoption of ecological innovations. This study investigates the influence of per capita income, renewable energy consumption, foreign direct investment, and financial development on adjusted net savings in Morocco over the period 1990–2021. It further examines the validity of the N-shaped Environmental Kuznets Curve (EKC) within the Moroccan context. To address these objectives, the augmented autoregressive distributed lag (AARDL) model is employed. The empirical findings reveal the existence of a long-run cointegration relationship among the variables and provide evidence supporting the N-shaped EKC hypothesis. These results highlight the importance of fostering clean energy development and strengthening financial and investment frameworks to support Morocco’s sustainability trajectory.

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Renewable Energy, Foreign Direct Investment, Financial Development and Environmental Quality Nexus: An Investigation of the N-Shaped Environmental Kuznets Curve Adjust Net Savings

  • 会议论文

  • 发表日期：

    2026年

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  • Elmehdi Farouki,
  • Abderrahim Ferroud,
  • Rachid Allam,
  • Rachid Elidrissi

摘要

Environmental pollution represents a pressing challenge for Morocco, particularly in light of the continuous rise in carbon emissions. Achieving environmental sustainability necessitates a strategic shift toward renewable energy sources and the adoption of ecological innovations. This study investigates the influence of per capita income, renewable energy consumption, foreign direct investment, and financial development on adjusted net savings in Morocco over the period 1990–2021. It further examines the validity of the N-shaped Environmental Kuznets Curve (EKC) within the Moroccan context. To address these objectives, the augmented autoregressive distributed lag (AARDL) model is employed. The empirical findings reveal the existence of a long-run cointegration relationship among the variables and provide evidence supporting the N-shaped EKC hypothesis. These results highlight the importance of fostering clean energy development and strengthening financial and investment frameworks to support Morocco’s sustainability trajectory.