Natural resources, population aging, and environmental quality: analyzing the role of green technologies

Inhibiting or promoting: Population aging and economic development in China

Population aging has become a social issue of concern to the whole world, and as the world's most populous country, how to cope with population aging will be a hot issue that all sectors of Chinese society must think about. This paper uses provincial panel data from 30 provinces in China from 2000 to 2021 to study the relationship between population aging and economic development based on the perspective of health expenditure. The DIFF-GMM model, the fixed effect model (FE), and fixed effect instrumental variable model (FE-IV) are used to test this study. The following two conclusions are drawn from the empirical study: (1) population aging has a significant inhibitory effect on economic development, while health expenditures have a significant promotional effect on economic development; and (2) increased health expenditures help to alleviate the negative impact of population aging on economic development. However, the deepening of population aging will likewise inhibit the positive effect of health expenditure on economic growth. Based on the conclusions of the study, it is recommended that the government and society should continue to increase spending in the field of health protection, encourage and guide residents to carry out self-care, and moderately increase personal health expenditure, to promote economic development with healthy bodies and realize the goal of "Healthy China".

Dynamic impact of demographic features, FDI, and technological innovations on ecological footprint: evidence from European emerging economies

Climate change effect mitigation is a critical priority for top leaders and communities around the globe. Human-induced environmental issues are affecting humankind's standard of living and development potential and the planetary boundaries. Sustainability objectives aim to enhance environmental quality and ensure sustainable development for all by eliminating social inequalities. This study examines the complex relationships between demographic features, foreign direct investment, technological innovation, and ecological footprint, emphasizing the relevance of population aging, population density, and urbanization in this context. The research uses a selection of emerging European economies during 1995-2018. The reasons for countries' selection are related to the increasing rate of population aging in European countries, the attractiveness for foreign direct investment, the economic growth, and the technological advancement potential these emerging countries possess. In order to investigate the long-run relationship between the selected variables, the study tests the cross-section dependence, homogeneity, and cointegration and uses Konya tests to determine panel causality. Based on Konya methodology, differences between countries in the panel are evidenced and discussed accordingly. Our findings confirm the long-run relationship between environment, technological innovation, population aging, and FDI. The results of this research are highly relevant for policymakers in selected countries for identifying the set of correlations and the relevance of various variables in such national economies. Demographic features such as population aging and population density are critical for Europe, and the results show the impact on the ecological footprint.

Links among population aging, economic globalization, per capita CO2 emission, and economic growth, evidence from East Asian countries

Population aging, economic globalization, and economic growth simultaneously cause changes in environmental quality, but so far no studies have integrated these key factors into the same environmental policy framework. Thus, this study uses the more robust Westerlund cointegration test and the augmented mean group (AMG) estimator (robust to cross-sectional dependence (CD), heterogeneity, and endogeneity) to estimate the long-term relationship between population aging, economic globalization, economic growth, and per capita carbon emissions in East Asian countries during the period 1975-2018. The analysis results reflect that population aging significantly reduces the long-term per capita carbon emissions of specific East Asian countries. However, energy generation and economic globalization make significant contributions to long-run per capita carbon emissions. Moreover, the impact of economic growth on long-term per capita carbon emissions is significantly positive, while the impact of square of economic growth on long-run per capita carbon emissions is significantly negative, thus validating the inverted U-shaped environmental Kuznets curve (EKC) hypothesis for specific East Asian countries. The results of the causality test indicated a two-way causality between energy generation and per capita carbon dioxide emission, supporting the feedback hypothesis. There is also a two-way causal relationship between aging population and per capita carbon dioxide emission. Policy recommendations are discussed in response to the empirical findings of this study.

Natural Resources Depletion, Financial Risk, and Human Well-Being: What is the Role of Green Innovation and Economic Globalization?

Human well-being is the top priority of all nations in the twenty-first century. However, depletion of natural resources and financial risk can negatively impact human well-being, which in turn can make it difficult to realize human well-being. Also, green innovation and economic globalization may play a significant role in human well-being. In this context, this study assesses the impacts of natural resources, financial risk, green innovation, and economic globalization on human well-being in emerging countries from 1990 to 2018. The empirical results from the Common Correlated Effects Mean Group estimator unveiled that natural resources and financial risk negatively affect the human well-being of emerging nations. Furthermore, the results show that green innovation and economic globalization positively contribute to human well-being. These findings are also verified using alternative methods. In addition, natural resources, financial risk, and economic globalization Granger cause human well-being but not the other way round. Furthermore, bidirectional causality exists between green innovation and human well-being. Considering these novel findings, sustainable utilization of natural resources and controlling financial risk are necessary strategies for realizing human well-being. More resources should be allocated for green innovation, and government should encourage economic globalization to attain sustainable development in emerging countries.

Graphical Abstract

The role of government spending on energy efficiency R&D budgets in the green transformation process: insight from the top-five countries

The transition to a low carbon economy has become more realistic with sustainable development goals (SDGs). Economies are on their way to 2030 and 2050 targets by increasing their environmental awareness. However, the most important issue that complicates this process is the dependence on fossil fuels and the need for sufficient time for renewable resources to mature. Previous literature has neglected this and focuses directly on renewable and fossil energy research and development (R&D) budgets. This paper fills the gap in the literature by showing whether the budgets allocated by countries for energy efficiency R&D are important in the maturation process of renewable energy sources. This paper offers policy recommendations to the countries (the USA, Canada, Germany, France, and Japan) that allocate the highest share of the budget to energy efficiency. It also presents the current situation of countries investing in energy efficiency as examples for other countries looking to transition into green energy. This study tackles the effects of energy efficiency R&D budgets, economic growth, trade openness, and natural resources on CO₂ emissions over the period 1985-2019 using Augmented Means Group and Common Correlated Effects Mean Group methods. Empirical findings show that the energy efficiency R&D budgets are not at a level to enhance environmental quality. Moreover, economic growth and trade openness also contribute to environmental damage. On the contrary, natural resources increase environmental quality. In the light of the empirical findings, the considered countries with the largest budgets (top five) should expand their energy efficiency budgets until the transition to renewable energy gains momentum to achieve SDG-13, i.e., climate action, and SDG-7, i.e., affordable and clean energy.