Determinants of load capacity factor in South Korea: does structural change matter?

By likening biocapacity and ecological footprint, the load capacity factor follows a specified ecological threshold, permitting for an in-depth analysis of ecological damage. It can be seen that as the load capacity factor is reduced, the ecological damage intensifies. Until now, scholars have used carbon dioxide, ecological footprint, nitrogen oxide, sulfur dioxide, and other indices to objectively examine ecological problems. The utilization of these metrics can cause the supply side of ecological concerns to be overlooked. To make up for this weakness, this paper evaluates the impact of structural change and trade globalization on the load capacity factor. The research also considers other drivers of load capacity factors such as economic growth and energy. We utilized the nonparametric such as nonparametric causality and quantile-on-quantile (QQ) regression approaches to scrutinize these interconnections for South Korea between 1970 and 2018. The findings from the QQ approach disclosed that in the majority of the quantiles, the influence of economic growth, structural change, energies (renewable and nonrenewable), and trade globalization mitigate the load capacity factor. Moreover, the nonparametric causality test divulged that in variance and mean, all the independent variables can predict the load capacity factor. Policy proposals for South Korea's sustainable development are offered based on the findings.