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Bétila RR. Economic freedom and carbon emissions across the globe: the mediating effect of renewable energy consumption. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:86300-86327. [PMID: 37402919 DOI: 10.1007/s11356-023-28420-0] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 03/13/2023] [Accepted: 06/20/2023] [Indexed: 07/06/2023]
Abstract
A growing number of studies have examined the extent to which economic liberalization policies would influence carbon emissions. These studies have examined this relationship while neglecting the key role that renewable energy could play in this complex relationship. The study fills that gap. It aims to examine the mediated effect of renewable energy consumption in the relationship between economic freedom and carbon emissions in 138 countries worldwide over the period 1995-2018. In this perspective, the study followed a second-generation panel econometric tests. We used Driscoll and Kraay standard errors (DKSE) and common correlated effect mean group (CCEMG) estimators for baseline results. The robustness of the results was checked using fully modified ordinary least squares (FMOLS), system generalized method of moments (System-GMM), and quantile regression (QREG). Furthermore, the study mobilized Dumitrescu and Hurlin's panel causality test to examine the causal relationship between the variables under study. The results suggest that economic freedom has a direct and indirect negative effect on carbon emissions and that renewable energy consumption mediates the effect of economic freedom on carbon emissions. These results remained unchanged at the battery of robustness checks. Moreover, Dumitrescu and Hurlin's panel causality test results indicated a bidirectional causal relationship between economic freedom, renewable energy consumption, economic growth, economic globalization, and population size with carbon emissions. The various empirical findings have helped to formulate useful policy implications for policy-makers to ensure environmental sustainability.
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Affiliation(s)
- Rafiou Raphaël Bétila
- École Nationale Supérieure de Statistique et d'Économie Appliquée, Abidjan, Côte d'Ivoire.
- Direction Générale de l'Économie, Ministère de l'Économie et des Finances, Cotonou, Bénin.
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Ali Y, Khan H. The effect of technological progress and income per capita on carbon dioxide emission: the moderating role of economic freedom. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:88563-88576. [PMID: 37436624 DOI: 10.1007/s11356-023-28687-3] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 02/25/2023] [Accepted: 07/04/2023] [Indexed: 07/13/2023]
Abstract
Climate change in context of environmental issues is pushing most of the countries to set the goals in order to achieve carbon neutrality and sustainable development. The recognition of Sustainable Development Goal (SDG) thirteen (13) is aided by the objective of this study which is to take an urgent action to combat climate change. In this context, this study investigates the effect of technological progress, income, and foreign direct investment on carbon dioxide emission by taking into consideration the moderating effect of economic freedom in 165 global countries from 2000 to 2020. The study employed ordinary least squares (OLS), fixed effects (FE), and two-step system generalized method of moments for analysis. The findings reveal that economic freedom, income per capita, foreign direct investment, and industry increase carbon dioxide emission while technological progress reduces emission in global countries. Surprisingly, economic freedom indirectly increases the level of carbon emissions by technological progress; however, economic freedom indirectly decreases the level of carbon emissions by income per capita. In this regard, this study favors clean eco-friendly technologies and seeks methods for development without harming the environment. Furthermore, the findings of this study have considerable policy suggestions for the sample countries.
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Affiliation(s)
- Yasir Ali
- School of Economics, Shandong University, Jinan, 250100, Shandong, China
| | - Hayat Khan
- School of Economics and Management, Zhejiang University of Science and Technology, Hangzhou, China.
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Mehmood W, Alsmady AA, Amin S, Mohd-Rashid R, Aman-Ullah A. Environmental pollution and sustainability of IPO performance: evidence from the Pakistani Market. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2023; 30:30073-30086. [PMID: 36427127 DOI: 10.1007/s11356-022-23985-8] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 08/13/2022] [Accepted: 10/31/2022] [Indexed: 06/16/2023]
Abstract
This study examined the effect of air pollution on the initial return of IPOs in Pakistan. Cross-sectional data were used to examine 102 listed IPOs on Pakistan Stock Exchange between 1996 and 2019. Ordinary least squares and quantile least squares were employed to examine the influence of air pollution on IPO initial returns. Lastly, stepwise regression was utilised for additional analysis. According to the findings, in the presence of high air pollution, IPO initial returns also increase due to higher uncertainty. The findings demonstrate that air pollution intensifies a company's information environment and financial uncertainty. Therefore, addressing environmental challenges is critical for both public health and capital formation. This study's findings will increase companies' awareness of the economic effect of air pollution, particularly in a country where air pollution is strictly regulated. This study provides businesses with an economic reason to reduce their pollution levels, and it can also help regulators pass environmental laws that are aimed at addressing this issue.
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Affiliation(s)
- Waqas Mehmood
- School of Economics, Finance and Banking, Universiti Utara Malaysia, 06010, Sintok, Kedah, Malaysia.
| | - Ahnaf Ali Alsmady
- Accounting Department, Faculty of Business Administration, (University of Tabuk), Tabuk, Saudi Arabia
| | - Saqib Amin
- Department of Economics, Accounting and Finance, Oulu Business School, University of Oulu, 90570, Oulu, Finland
| | - Rasidah Mohd-Rashid
- School of Economics, Finance and Banking, Universiti Utara Malaysia, 06010, Sintok, Kedah, Malaysia
| | - Attia Aman-Ullah
- School of Business Management, Universiti Utara Malaysia, 06010, Sintok, Kedah, Malaysia
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Eregha PB, Vo XV, Nathaniel SP. Military spending, financial development, and ecological footprint in a developing country: insights from bootstrap causality and Maki cointegration. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2022; 29:83945-83955. [PMID: 35776309 DOI: 10.1007/s11356-022-21728-3] [Citation(s) in RCA: 2] [Impact Index Per Article: 1.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 02/07/2022] [Accepted: 06/25/2022] [Indexed: 06/15/2023]
Abstract
Military spending is required for national sovereignty, but it comes at a cost. The ecological consequences of military activities remain insufficiently investigated, especially in developing countries, where military spending is on the rise due to terrorism and civil unrest created by different secessionists' groups. As such, this study has a maiden attempt to address this gap by exploring the effects of military spending on the ecological footprint (EF) using the bootstrap causality test and the Maki (2012) cointegration test under multiple structural breaks. The findings suggest that military spending increases the EF. Also, while energy consumption and economic growth degrade the environment, financial development enhances environmental wellbeing by reducing the ecological footprint. The causality results suggest a unidirectional causality from military spending to EF, while feedback causality exists between military spending and economic growth. The result of this study affirms the existence of destruction theory and also provides a better understanding of the links behind environmental degradation and is applicable for the design and implementation of environmental policies.
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Affiliation(s)
- Perekunah B Eregha
- School of Management and Social Sciences, Pan-Atlantic University, Lagos, Nigeria
- Institute of Business Research, University of Economics Ho Chi Minh City, Ho Chi Minh, Vietnam
| | - Xuan Vinh Vo
- Institute of Business Research & CFVG, University of Economics Ho Chi Minh City, Ho Chi Minh, Vietnam
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Wu J, Abban OJ, Boadi AD, Charles O. The effects of energy price, spatial spillover of CO 2 emissions, and economic freedom on CO 2 emissions in Europe: a spatial econometrics approach. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2022; 29:63782-63798. [PMID: 35467184 DOI: 10.1007/s11356-022-20179-0] [Citation(s) in RCA: 6] [Impact Index Per Article: 3.0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 10/05/2021] [Accepted: 04/06/2022] [Indexed: 06/14/2023]
Abstract
Since the European Union (EU)'s current goal of making its continent the world's first climate-neutral continent by 2050, the EU will need to set a path for new policies in the areas of Europe's economy, energy consumption, and agriculture. Thus, this paper analyzes the marginal impact of energy price and economic freedom on Europe's CO2 emissions grounded on the extended Stochastic Impacts by Regression on Population, Affluence and Technology ecology (STIRPAT) model together with the spatial econometric models. The results indicate the existence of spatial spillover effect of CO2 emissions among some countries in Europe. The Hausman test was also performed to select the best model between the random effects and the fixed effects. The findings suggest that increasing both economic freedom and energy price in a local country turns to reduce the country's own CO2 emissions and also reduces the emissions of its adjacent countries. Comparing the direct effect of economic freedom and energy price to that of the SDM fixed effect, a feedback of 12.77% and 23.53% of the direct effect was observed, respectively. The results also indicated that the turning point of economic freedom and economic growth was 6.714 and thus 9.083. Overall, the study spotlighted some policy suggestions for the energy market for the European commission in reducing the emissions of CO2.
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Affiliation(s)
- Jiying Wu
- School of Finance and Economics, Department of Statistics, Jiangsu University, Zhenjiang, 212013, People's Republic of China.
| | - Olivier Joseph Abban
- School of Mathematical Science, Institute of Applied Systems and Analysis (IASA), Jiangsu University, Zhenjiang, 212013, People's Republic of China
| | - Alex Dankyi Boadi
- Innovation and Consultancy, University of Cape Coast Directorate of Research, Cape Coast, Ghana
| | - Ofori Charles
- School of Finance, Zhejiang Gongshang University, Hangzhou, China
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Chen L, Tanchangya P. Analyzing the role of environmental technologies and environmental policy stringency on green growth in China. ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH INTERNATIONAL 2022; 29:55630-55638. [PMID: 35320472 DOI: 10.1007/s11356-022-19673-2] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Subscribe] [Scholar Register] [Received: 12/29/2021] [Accepted: 03/08/2022] [Indexed: 06/14/2023]
Abstract
This study aims to investigate the impact of environmental technological innovations and environmental policy stringency on green economic growth in China. The empirical analysis of the study is based on the ARDL model. Findings confirm that environmental technology positively impacts green economic growth in the short and long run. In the robust model, the estimates of all technologies appeared to be significantly positive in the short and long run. Conversely, the estimated coefficients of environmental policy stringency, in the basic and robust model, have only negatively impacted the green economic growth in China in the short run. In the long run, the environmental policy stringency has not shown any significant impact on green economic growth in China in the basic and robust model. China needs to increase environmental technology and environmental policy stringency for achieving green growth and sustainability targets.
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Affiliation(s)
- Li Chen
- Fan Li Business School, Nanyang Institute of Technology, Nanyang, China.
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Moga Rogoz AT, Sart G, Bayar Y, Gavriletea MD. Impact of Economic Freedom and Educational Attainment on Life Expectancy: Evidence From the New EU Member States. Front Public Health 2022; 10:907138. [PMID: 35844897 PMCID: PMC9280055 DOI: 10.3389/fpubh.2022.907138] [Citation(s) in RCA: 0] [Impact Index Per Article: 0] [Reference Citation Analysis] [Abstract] [Key Words] [MESH Headings] [Track Full Text] [Download PDF] [Journal Information] [Subscribe] [Scholar Register] [Received: 03/29/2022] [Accepted: 06/06/2022] [Indexed: 11/20/2022] Open
Abstract
Life expectancy is a significant indicator of public health, life quality, welfare and economic development. Therefore, improvement in life expectancy is among the priority targets of the countries. This paper investigates the effect of economic freedom and educational attainment on life expectancy in the new EU member states, experiencing an institutional, educational, and economic transformation, during the period 2000-2019 by using cointegration and causality tests, because economic freedom and educational attainment can foster the life expectancy through institutional and economic variables such as institutions, governance, sound monetary and fiscal policies, economic growth, innovation, technological development, better living standards and access to superior healthcare services. The causality and cointegration analyses reveal that economic freedom and educational attainment are significant factors underlying life expectancy in the short and long term. However, educational attainment is found to be more effective on life expectancy than economic freedom. The findings have important implications for educational and health policies in analyzed countries. Governments must understand the education-health relationship to be able to develop and promote educational policies that have the potential to improve public health.
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Affiliation(s)
- Adrian Teodor Moga Rogoz
- Department of Physiology, University of Medicine and Pharmacy “Iuliu Hatieganu”, Cluj-Napoca, Romania
| | - Gamze Sart
- Department of Educational Sciences, Hasan Ali Yucel Faculty of Education, Istanbul University-Cerrahpaşa, Istanbul, Turkey
| | - Yilmaz Bayar
- Department of Public Finance, Faculty of Economics and Administrative Sciences, Bandirma Onyedi Eylul University, Bandirma, Turkey
| | - Marius Dan Gavriletea
- Department of Business, Business Faculty, Babes-Bolyai University, Cluj-Napoca, Romania
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