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Towards achieving environmental sustainability: environmental quality versus economic growth in a developing economy on ecological footprint via dynamic simulations of ARDL

Solarin SA, Nathaniel SP, Bekun FV, Okunola AM, Alhassan A

Environ Sci Pollut Res Int, 2021 Apr;28(14):17942-17959.
PMID: 33410031 DOI: 10.1007/s11356-020-11637-8

Studies have shown that factors like trade, urbanization, and economic growth may increase the ecological footprint (EFP) since ecological distortions are mainly human-induced. Therefore, this study explores the effect of economic growth and urbanization on the EFP, accounting for foreign direct investment and trade in Nigeria, using data from 1977 to 2016. This study used the EFP variable as against the CO2 emissions used in the previous studies since the former is a more comprehensive and extensive measure of environmental quality. We apply the novel dynamic autoregressive distributed lag (ARDL) simulations for model estimation, the Bayer and Hanck J Time Ser Anal 34: 83-95, (2013) combined cointegration, and the ARDL bounds test for cointegration. Although the results affirmed the presence of long-run relationship among the variables, economic growth deteriorates the environment in the short run, while urbanization exacts no harmful impact. In the long run, FDI and trade deteriorate the environment while economic growth adds to environmental quality. It is recommended that policymakers strengthen the existing environmental regulations to curtail harmful trade and provide rural infrastructures to abate urban anomaly.

Matched MeSH terms: Economic Development*
Output and substitution elasticity estimates between renewable and non-renewable energy: implications for economic growth and sustainability in India

Solarin SA, Bello MO

Environ Sci Pollut Res Int, 2021 Dec;28(46):65313-65332.
PMID: 34235686 DOI: 10.1007/s11356-021-15113-9

The energy profile of India is dominated by fossil fuels, which create concerns over resource and environmental sustainability as fossil fuels are non-renewable and high carbon emitting. This scenario has necessitated the call for more renewables to replace fossil fuels to address resource and environmental sustainability concerns. This study, therefore, investigates the possibility of switching the fossil fuels of oil, coal, and natural gas for renewable energy in India. Using annual Indian data spanning more than four decades, a transcendental logarithmic production function based on a second-order Taylor Series approximation is estimated with the ridge regression technique. To achieve robustness, two equations with gross domestic product and adjusted net savings as regressands are estimated to proxy economic growth and sustainable development, respectively. The empirical results show substantial substitution possibilities between the fuels for both gross domestic product and adjusted net savings equations. The empirical findings show that India has the capacity to satisfy its energy needs through renewables to pursue not only economic growth but sustainable development. To actualize this potential, the Indian government should promote investment in renewables as this also promotes economic growth and development.

Matched MeSH terms: Economic Development*
How does formal credit promote green entrepreneurship? New insights from renewable energy producers in high-, middle-, and low-income countries

Sohail MT, Din NM

Environ Sci Pollut Res Int, 2024 Jan;31(2):2869-2882.
PMID: 38066276 DOI: 10.1007/s11356-023-31342-6

To tackle the growing menace of environmental degradation, the idea of green entrepreneurship has gained popularity, which is the process of creating new goods and technologies to solve environmental problems. Like traditional entrepreneurs, green entrepreneurs also need financial backing from financial institutions. However, no empirical evidence was found regarding the relationship between formal credit and green entrepreneurship. This analysis is an effort to plug this vacuum into the literature by analyzing the impact of formal credit on green entrepreneurship in high, middle, and low-income economies from 2011 to 2021. The study has employed various econometric techniques such as fixed-effects, random-effects, 2SLS, and GMM. The results show that formal credit substantially develops green entrepreneurship in high, middle, low-income, and full samples. Besides formal credit, GDP, environmental pressure, trade openness, technological development, and human capital are crucial in green entrepreneurship development in all samples. Policymakers may collaborate with financial institutions to create and provide specialized financial products and services catering to green entrepreneurs.

Matched MeSH terms: Economic Development
Innovation, militarization, and renewable energy and green growth in OECD countries

Sohag K, Husain S, Hammoudeh S, Omar N

Environ Sci Pollut Res Int, 2021 Jul;28(27):36004-36017.
PMID: 33686598 DOI: 10.1007/s11356-021-13326-6

Within a framework that includes economic activity, real interest rate, grants, and subsidies, we aim to explore the role of renewable energy, technological innovation, and particularly the environmentally damaging militarization in driving green growth, which fosters sustainable economic growth by ensuring the values of natural assets, considering OECD countries. Our examination affirms a positive proposition between the development of renewable energy, technological innovation, and green growth in the long run by implementing the cross-sectional dependency panel autoregressive-distributed lags (CS-ARDL) framework in a dynamic heterogeneous panel setting. The findings also suggest that militarization is antagonistic to green growth. Our decomposed analysis is compatible with our premier analysis, indicating a conducive impact of both biomass and non-biomass types of renewable energy on green growth. We also document a negative association between the real interest rate (RIR) and green growth, while income muddles the results. The robustness tests confirm the sensitivity of our main findings to the magnitude of the subsidies and grants provided to renewable energy. The paper concludes with several policy recommendations.

Matched MeSH terms: Economic Development
Fulltext Trans-national conservation and infrastructure development in the Heart of Borneo

Sloan S, Campbell MJ, Alamgir M, Lechner AM, Engert J, Laurance WF

PLoS One, 2019;14(9):e0221947.
PMID: 31532810 DOI: 10.1371/journal.pone.0221947

The Heart of Borneo initiative has promoted the integration of protected areas and sustainably-managed forests across Malaysia, Indonesia, and Brunei. Recently, however, member states of the Heart of Borneo have begun pursuing ambitious unilateral infrastructure-development schemes to accelerate economic growth, jeopardizing the underlying goal of trans-boundary integrated conservation. Focusing on Sabah, Malaysia, we highlight conflicts between its Pan-Borneo Highway scheme and the regional integration of protected areas, unprotected intact forests, and conservation-priority forests. Road developments in southern Sabah in particular would drastically reduce protected-area integration across the northern Heart of Borneo region. Such developments would separate two major clusters of protected areas that account for one-quarter of all protected areas within the Heart of Borneo complex. Sabah has proposed forest corridors and highway underpasses as means of retaining ecological connectivity in this context. Connectivity modelling identified numerous overlooked areas for connectivity rehabilitation among intact forest patches following planned road development. While such 'linear-conservation planning' might theoretically retain up to 85% of intact-forest connectivity and integrate half of the conservation-priority forests across Sabah, in reality it is very unlikely to achieve meaningful ecological integration. Moreover, such measure would be exceedingly costly if properly implemented-apparently beyond the operating budget of relevant Malaysian authorities. Unless critical road segments are cancelled, planned infrastructure will fragment important conservation landscapes with little recourse for mitigation. This likelihood reinforces earlier calls for the legal recognition of the Heart of Borneo region for conservation planning as well as for enhanced tri-lateral coordination of both conservation and development.

Matched MeSH terms: Economic Development
The sources of the Kuznets relationship between the road deaths to road injuries ratio and economic growth

Sirajudeen AO, Law TH, Wong SV, Jakarni FM, Ng CP

J Safety Res, 2021 09;78:262-269.
PMID: 34399922 DOI: 10.1016/j.jsr.2021.06.007

INTRODUCTION: Past empirical studies indicated that there is a Kuznets or reverse U-shaped relationship between road deaths and per capita income, such that the number of road death increases at a low level of per capita reverse U-shaped relationship was observed between road injuries and per capita income. While these studies explored the impact of per capita income on road deaths and road injuries, no studies have examined the relationship between per capita income and road death to road injury ratio (DPI).
METHOD: Using a fixed effects panel regression analysis from 67 countries spanning over a period of five decades (1960-2013), the present study sought to explore the impact of per capita gross domestic product (per capita GDP) on the DPI ratio and the underlying factors responsible for the relationship.
RESULTS: Our result suggests that per capita GDP followed a reverse U-shaped relationship with DPI. Moreover, the relative improvements in higher mobility roads as compared to improvements in higher accessibility roads, motorcycle ownership to passenger car ownership ratio, percentage of population living in an urban area, infant mortality rate, and the percentage of population below 15 years of age and above 64 years of age contributed to this relationship. Practical Applications: This implies that, at lower level of economic growth where road deaths exceed road injuries, countries should implement low-cost measures to combat road deaths cases. Such measures include mandating wearing of quality helmets and daytime running headlights for motorcycles. On the other hand, at higher level of economic growth where road injuries surpass road deaths, countries are encouraged to devote more resources to improving medical technology and services to treat road injury victims, mandating seatbelt use, as well as enhancing and promoting public transportation service.

Matched MeSH terms: Economic Development*
The motorcycle deaths to passenger car deaths ratio and economic performance: A panel data analysis

Sirajudeen AO, Law TH, Wong SV, Ng CP

Accid Anal Prev, 2022 Feb;165:106533.
PMID: 34902624 DOI: 10.1016/j.aap.2021.106533

The existing literature in road safety revealed that the relationship between motorcycle deaths and per-head income follows a Kuznets or reverse U-curve pattern, whereby motorcycle deaths incline at lower income levels but decline once the per-head income has exceeded a threshold level. The same reverse U-curve relationship was also observed between per-head income and other road injury-related variables, including road deaths, road injuries, as well as road deaths to road injuries ratio. Evidence showed that motorcycles and passenger cars are the dominant vehicle modes and contributed significantly to global road deaths. The main objective of this study is to examine the relationship between the motorcycle deaths to passenger car deaths (MDC) ratio and per-head Gross Domestic Product (GDP). Examining the relationship between the MDC ratio and GDP per capita can be effective in understanding the relative change between motorcycle and passenger car deaths at different economic development stages, as well as identifying appropriate preventive measures. We apply a panel linear regression analysis on a panel of 38 countries over the period 1965-2013. Result demonstrated that there is a reverse U-curve relationship between the MDC ratio and the logarithm of GDP per capita. This implies that, at lower levels of GDP per capita, motorcycle deaths were more prevalent than passenger car deaths, whereas as the level of GDP per capita rises, passenger car deaths became relatively prevalent than motorcycle deaths. Moreover, there is a reverse U-shaped relationship between motorcycle ownership to passenger car ownership ratio (MPC) and the MDC ratio, while a U-shaped relationship exists between relative growth in higher mobility roads as compared to higher accessibility roads (MPA) and the MDC ratio. Based on our results, policies and interventions to reduce motorcycle and passenger car deaths were suggested in the conclusion of the paper.

Matched MeSH terms: Economic Development
Fulltext Does green investment affect environment pollution: Evidence from asymmetric ARDL approach?

Shen Y, Ur Rahman S, Hafiza NS, Meo MS, Ali MSE

PLoS One, 2024;19(4):e0292260.
PMID: 38635691 DOI: 10.1371/journal.pone.0292260

Pollution in the environment is today the biggest issue facing the globe and the main factor in the development of many fatal diseases. The main objective of the study to investigate green investments, economic growth and financial development on environmental pollution in the G-7 countries. This study used annual penal data from 1997 to 2021. The panel NARDL (Non-linear autoregressive distributed lag) results affirm that the positive change of green investment and negative shock in green investment have a significant and positive association with environment pollution in G-7 nations. Our findings provide more evidence for the long-term asymmetry between financial development and environmental performance. However, the findings confirm that a positive modification in financial development has a positive and significant effect on environment pollution. Whereas negative shock in financial development is negative and insignificant relationship with environment pollution. Moreover, the outcomes of the study reveal that both positive shock in gross domestic product growth and negative shock of economic growth have a significant and positive link with environment pollution in G-7 countries. According to the findings, by lowering carbon dioxide emissions, green investments reduced environmental pollution in the G-7 nations over the long and short term. Moreover, it is an innovative research effort that provides light on the connection between green investments, financial development, and the environment while making mention to the EKC in G-7 countries. After all these, our recommendation is to increases green investment expenditures to reduce environmental pollution in the G-7 nations based on our findings. Additionally, one important way for the nation to achieve its sustainable development goals is to improve advancements in the financial sector.

Matched MeSH terms: Economic Development
Disaggregated renewable energy sources in mitigating CO2 emissions: new evidence from the USA using quantile regressions

Sharif A, Bhattacharya M, Afshan S, Shahbaz M

Environ Sci Pollut Res Int, 2021 Nov;28(41):57582-57601.
PMID: 34089449 DOI: 10.1007/s11356-021-13829-2

A key objective of renewable energy development in the USA is to reduce CO2 emissions by decreasing reliance on fossil fuels in the coming decades. Using quantile-on-quantile regressions, this research examines the relationship between disaggregated sources of renewable energy (biomass, biofuel, geothermal, hydroelectric, solar, wind, wood, and waste) and CO2 emissions in the USA during the period from 1995 to 2017. Our findings support the deployment of various types of renewables in combating CO2 emissions for each quantile. In particular, a negative effect of renewable energy consumption on CO2 emissions is observed for the lower quantiles in almost all types of renewables. The effect of all the renewable energy sources taken together is significant for the lower and upper quantiles of the provisional distribution of CO2 emissions. The effect of renewable energy becomes stronger and more significant in the middle quantiles, where a pronounced causal effect of return and volatility is detected for the lower and upper middle quantiles. At the same time, heterogeneity in the findings across various types of renewable energy sources reveals differences in the relative importance of each type within the energy sector taken as a whole. Future US initiatives in renewable energy deployment at both the federal and the state levels should take into consideration the relative importance of each type, so as to maximize the efficacy of renewable energy policies in combating CO2 emissions.

Matched MeSH terms: Economic Development
The role of tourism, transportation and globalization in testing environmental Kuznets curve in Malaysia: new insights from quantile ARDL approach

Sharif A, Afshan S, Chrea S, Amel A, Khan SAR

Environ Sci Pollut Res Int, 2020 Jul;27(20):25494-25509.
PMID: 32350832 DOI: 10.1007/s11356-020-08782-5

This paper uses the quantile autoregressive distributed lag (QARDL) model to analyze the impact of economic growth, tourism, transportation, and globalization on carbon dioxide (CO2) emissions in the Malaysian economy. The QARDL model is employed utilizing quarterly data from 1995Q1 to 2018Q4. The results demonstrate that economic growth is significantly positive with CO2 emissions at lower to upper quantiles. Interestingly, tourism has a negative effect on CO2 emissions at higher quantiles. Moreover, globalization and transportation services are positive, with CO2 emissions at upper-middle to higher quantiles. Furthermore, we tested the environmental Kuznets curve, and the outcomes confirm the presence of the inverted U-shaped curve in the Malaysian economy. The results of this study suggest that ecotourism is beneficial for economic growth in underdeveloped areas; it increases employment opportunities and, thus, achieves a win-win situation for protection and development. The government should encourage the low-carbon development of ecotourism and achieve green development of both tourism and the economy.

Matched MeSH terms: Economic Development*
Revisiting the energy-economy-environment relationships for attaining environmental sustainability: evidence from Belt and Road Initiative countries

Shakib M, Yumei H, Rauf A, Alam M, Murshed M, Mahmood H

Environ Sci Pollut Res Int, 2022 Jan;29(3):3808-3825.
PMID: 34402005 DOI: 10.1007/s11356-021-15860-9

The Belt and Road Initiative (BRI) is an ambitious development project initiated by the Chinese government to foster economic progress worldwide. In this regard, this study aims to investigate the dynamics of energy, economy, and environment among 42 BRI developing countries using an annual frequency panel dataset from 1995 to 2019. The major findings from the econometric analyses revealed that higher levels of energy consumption, economic growth, population growth rate, and FDI inflows exhibit adverse environmental consequences by boosting the CO2 emission figures of the selected developing BRI member nations. However, it is interesting to observe that exploiting renewable energy sources, which are relatively cleaner compared to the traditionally-consumed fossil fuels, and fostering agricultural sector development can significantly improve environmental well-being by curbing the emission levels further. On the other hand, financial development is found to be ineffective in explaining the variations in the CO2 emission figures of the selected countries. Besides, the causality analysis shows that higher energy consumption, FDI inflows, and agricultural development cause environmental pollution by boosting CO2 emissions. However, economic growth, technology development, financial progress, and renewable energy consumption are evidenced to exhibit bidirectional causal associations with CO2 emissions. In line with these findings, several relevant policies can be recommended for the BRI to be environmentally sustainable.

Matched MeSH terms: Economic Development*
The roles of energy, natural resources, agriculture and regional integration on CO2 emissions in selected countries of ASEAN: does political constraint matter?

Shah MI, AbdulKareem HKK, Ishola BD, Abbas S

Environ Sci Pollut Res Int, 2023 Feb;30(10):26063-26077.
PMID: 36350445 DOI: 10.1007/s11356-022-23871-3

This paper empirically examines the effects of energy, natural resources, agriculture, political constraint and regional integration on CO2 emissions in four ASEAN (Association of Southeast Asian Nations) countries of Cambodia, Malaysia, Indonesia and Thailand. We distinguish between renewable and fossil fuel energy consumption to see their individual impacts on CO2 emissions. The study employed a panel data from 1990 to 2019 derived from sources such as World Development Indicators, which were then analysed using Common-Correlated Effect Mean Group (CCEMG) and Augmented Mean Group (AMG) estimates. The findings show that renewable energy consumption has a negative impact on CO2 emissions while fossil fuel energy degrades the environment. The role of natural resources was found to be favourable for environmental quality with the impact of agriculture being found to be detrimental. For regional trade integration, its influence was not significant enough to offset CO2 emission. Furthermore, we discovered that political constraint induces CO2 emission. Based on the result, it is recommended that the selected ASEAN countries promote the use of renewable energy and clean technologies in their manufacturing processes, conserve natural resources, adopt eco-friendly political policies and intensify regional integration to accelerate the achievement of the SDGs.

Matched MeSH terms: Economic Development*
Does meat consumption exacerbate greenhouse gas emissions? Evidence from US data

Shafiullah M, Khalid U, Shahbaz M

Environ Sci Pollut Res Int, 2021 Mar;28(9):11415-11429.
PMID: 33118073 DOI: 10.1007/s11356-020-11331-9

This study empirically investigates the effect of meat consumption on greenhouse gas emissions (carbon dioxide, methane, and nitrous oxide) in the USA. The impact of meat consumption on greenhouse gas emissions is examined by controlling for economic growth and energy consumption. The empirical analysis finds that all these variables are cointegrated for the long run. Moreover, meat consumption aggravates greenhouse gas emissions. Specifically, meat consumption (except for beef) has a U-shaped relationship with carbon emissions and an inverted U-shaped relationship with methane and nitrous oxide emissions. The causality analysis indicates a unidirectional causality running from meat consumption to greenhouse gas emissions. These empirical findings indicate that the US livestock sector has the potential to become more environmentally friendly with careful policy formulation and implementation.

Matched MeSH terms: Economic Development
Fulltext Determinants of Foreign Direct Investment in ASEAN+3 Countries: The Role of Environmental Degradation

Shaari MS, Asbullah MH, Zainol Abidin N, Karim ZA, Nangle B

Int J Environ Res Public Health, 2023 Jan 17;20(3).
PMID: 36767086 DOI: 10.3390/ijerph20031720

Foreign direct investment (FDI) can boost economic growth and provide job opportunities. FDI inflows in ASEAN+3 countries have dropped markedly, which may affect economic development in the region. Many previous studies have investigated a multitude of factors that can influence FDI, such as market size, inflation, trade openness, corruption, and inflation. Previous studies did not, however, consider environmental degradation as a potential factor. Besides corruption and inflation, imposing stringent environmental regulations, such as carbon pricing and taxes to reduce environmental degradation, might deter foreign investors from the country. This is due to heightened costs for foreign investors, which may cause FDI inflows to drop. To shed some light on the reality of this situation, this study examines whether environmental degradation can significantly affect foreign direct investment in the region. This study includes environmental degradation as a potential factor and employs the panel ARDL approach to analyse data from 1995 to 2019. Results show that environmental degradation, infrastructure, and corruption can affect the inflow of FDI in the long run. In the short run, inflation can affect FDI. The findings of this study can be utilized by policymakers in formulating the right policies to attract more investors. An increase in infrastructure facilities should be considered to attract more foreign investment. It is also vital for governments to reduce corruption and inflation to attract more FDI inflows. Environmental incentives should also be introduced to ensure that attempts to reduce environmental degradation do not affect FDI inflows.

Matched MeSH terms: Economic Development
Pathways to sustainability: how China's Belt and Road Initiative is shaping responsible production and consumption in Africa

Senadjki A, Bashir MJK, AuYong HN, Awal IM, Chan JH

Environ Sci Pollut Res Int, 2024 Jan;31(1):1468-1487.
PMID: 38041733 DOI: 10.1007/s11356-023-31132-0

Africa faces significant economic and environmental challenges, including waste generation, food insecurity, and energy inefficiency, jeopardizing future generations. To address this, Africa has adopted the 10-year Sustainable Consumption and Production Framework for Africa (10-YFP), evident through national and local projects focusing on sustainable food and agriculture, technology transfer in water irrigation, and related initiatives. The Belt and Road Initiative (BRI) presents an opportunity for promoting green cooperation and sustainable development in Africa, though its impact on ethical production and consumption remains unexplored. This study evaluates the BRI's role in achieving Africa's Twelve Sustainable Development Goals (SDGs) and catalyzing responsible consumption and production. Through interviews and focus group discussions (FGDs) involving 42 participants from 19 African countries, thematic patterns emerged using the thematic inductive method. Findings indicate that BRI initiatives effectively integrate advanced technologies to enhance sustainable agriculture and industrial production. Notably, BRI investments in countries like Morocco, Algeria, Ethiopia, Kenya, and Zambia are fostering renewable energy projects to provide electricity to underserved communities. A stronger alignment between national sustainable development plans and the green BRI is essential to maximize the benefits without compromising BRI principles of inclusivity, coordination, coherence, and capacity building. This research fosters dialogue among academics, educators, government officials, business leaders, and investors about the transformative potential of China's BRI in African nations. By shedding light on the positive strides made by BRI programs, this study underscores the need for strategic synergy between international cooperation efforts and localized sustainability agendas, ultimately propelling Africa toward its long-term development goals.

Matched MeSH terms: Economic Development
Integration of renewable energy and technological innovation in realizing environmental sustainability: the role of human capital in EKC framework

Saqib N, Sharif A, Razzaq A, Usman M

Environ Sci Pollut Res Int, 2023 Feb;30(6):16372-16385.
PMID: 36181595 DOI: 10.1007/s11356-022-23345-6

For the purpose of this study, the role of technological innovation is examined. Few studies have examined empirically and theoretically the relationship between technological innovation and ecological footprint in conjunction with other factors, such as the human capital index and renewable energy sources, such as biofuels and nuclear power. This study examines the impact of technological innovation on G-7 countries' ecological footprints from 1990 to 2020. A cross-sectionally augmented autoregressive distributed lag (CS-ARDL) model is used in the study. The results of the study show that technological innovation minimizes the ecological footprint. A lower ecological footprint is also associated with increased usage of human capital and renewable energy. Depletion of the natural environment is a short-term and long-term consequence of increased GDP growth. Our results confirm that ecologically sustainable technology enhances the quality of the environment. Consistent panel causality results were achieved. In the context of the G-7 countries, our study's results could support the idea that there are new policy ideas that could help achieve the Sustainable Development Goals (SDG 3, 4, 7, 8, 9, and 13).

Matched MeSH terms: Economic Development
Towards a new paradigm: Activity level balanced sustainability reporting

Samudhram A, Siew EG, Sinnakkannu J, Yeow PH

Appl Ergon, 2016 Mar 27.
PMID: 27029522 DOI: 10.1016/j.apergo.2016.03.004

Technoeconomic paradigms based economic growth theories suggest that waves of technological innovations drove the economic growth of advanced economies. Widespread economic degradation and pollution is an unintended consequence of such growth. Tackling environmental and social issues at firm levels would help us to overcome such issues at macro-levels. Consequently, the Triple Bottom Line (TBL) reporting approach promotes firm level economic, environmental and social performances. Incorporating Zink's (2014) 3-pillar presentation model, this paper indicates that economic, social and environmental performances tend to be reported at firm level. All three pillars are not covered evenly at the activity levels. Thus, a loophole is identified whereby excellent environmental performance at activity levels could potentially leave poor social performance undisclosed. A refinement of the TBL paradigm, whereby all three pillars are covered at the activity level, is suggested, to enhance sustainability reporting.

Matched MeSH terms: Economic Development
Fulltext Globalization and economic growth: empirical evidence on the role of complementarities

Samimi P, Jenatabadi HS

PLoS One, 2014;9(4):e87824.
PMID: 24721896 DOI: 10.1371/journal.pone.0087824

This study was carried out to investigate the effect of economic globalization on economic growth in OIC countries. Furthermore, the study examined the effect of complementary policies on the growth effect of globalization. It also investigated whether the growth effect of globalization depends on the income level of countries. Utilizing the generalized method of moments (GMM) estimator within the framework of a dynamic panel data approach, we provide evidence which suggests that economic globalization has statistically significant impact on economic growth in OIC countries. The results indicate that this positive effect is increased in the countries with better-educated workers and well-developed financial systems. Our finding shows that the effect of economic globalization also depends on the country's level of income. High and middle-income countries benefit from globalization whereas low-income countries do not gain from it. In fact, the countries should receive the appropriate income level to be benefited from globalization. Economic globalization not only directly promotes growth but also indirectly does so via complementary reforms.

Matched MeSH terms: Economic Development*
Renewable energy and environmental quality: A second-generation panel evidence from the Sub Saharan Africa (SSA) countries

Salahuddin M, Habib MA, Al-Mulali U, Ozturk I, Marshall M, Ali MI

Environ Res, 2020 12;191:110094.
PMID: 32846170 DOI: 10.1016/j.envres.2020.110094

This study employs dynamic panel data for 34 Sub Saharan Africa (SSA) countries for the period 1984-2016 to estimate the effects of renewable energy on environmental quality measured by three indicators, namely, per capita CO2 emissions, energy intensity (EI) and Aggregate National Savings (ANS). The study leveraged a battery of second-generation econometric tests and estimation and causality methods to obtain the coefficients between the regressed and the regressors. Results reveal that use of renewable energy reduces CO2 emissions and energy intensity while it enhances ANS. Economic growth still seems to be expensive for the region as it stimulates CO2 emissions. However, it has a positive effect on ANS. As expected, fossil fuels exacerbate CO2 emissions and energy intensity. FDI is found to be detrimental for the environment of SSA region with its positive significant coefficient on CO2 emissions. Financial development is reported to reduce CO2 emissions. Some causal links between variables are also noted.

Matched MeSH terms: Economic Development
Investigating the asymmetry effects of crude oil price on renewable energy consumption in the United States

Sahu PK, Solarin SA, Al-Mulali U, Ozturk I

Environ Sci Pollut Res Int, 2022 Jan;29(1):817-827.
PMID: 34345984 DOI: 10.1007/s11356-021-15577-9

The reduction in oil prices might make crude oil a cheaper alternative to renewable energy (RE). Given this, the present paper examines the effect of fluctuation of oil prices on the use of RE in the United States (US) during the period 1970 to 2018. We constructed two nonlinear autoregressive distributed lag (NARDL) models to examine the effect of the positive and negative oil price shocks on the use of RE in the US. The RE consumption is taken as the dependent variable and the gross domestic product (GDP), Brent crude prices, population density, trade openness, and price index as independent variables. The result revealed that the rise in crude oil price, GDP, and population density will increase RE use in the short run and in the long run as well. Moreover, the study finds that any decrease in oil prices will decrease RE use in the short run and its effect will eventually diminish in the long run. On the policy front, it is suggested that US should raise its energy security by reducing its dependency on imported crude oil and increase the role of RE through the imposition of taxes on oil and increase the base of production and consumption through a series of measures.

Matched MeSH terms: Economic Development*

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