An era of rapid changes in the technological and economic aspects of developing and developed countries can have detrimental extortions on the environment around the world. From the perspective of globalization, the rapid development and growth can reroute to enhance the interaction between people, organizations, and countries across the globe including China through the usage of information and communication technology which in turn contributes to the economic growth of one side, whereas on the other side, it affects the environmental quality. Referring to this aspect, this study is focused to inspect the link between information and communication technology, and globalization with the facets of degradation in the environment that as CO2 emission and ecological footprint by keeping the view of economic growth prospects as well via using the EKC hypothesis. In our study, time-series data was employed from 1987 to 2020 for China using the Dynamic ARDL approach. Grounded on the findings of the study, economic growth from the sight of GDP fallouts in rising the emission of CO2 and EFP in the short and long run whereas GDP sqr cause decrease in the CO2 emission and EFP. Thus, this authorizes the presence of inverted U-shaped existence among GDP sqr, CO2 emission, and EFP. Therefore, this provides provision for the EKC hypothesis in China. Furthermore, ICT and globalization cause a decline in the emission of CO2 and EFP in the short and long run respectively. In combatting challenges linked to the environment, globalization, as well as ICT, is seen as a crucial factor based on the pieces of evidence in our study while the policy implications are also proposed in the paper.
China-ASEAN are the two huge markets in trade world, they can bring out greater dynamism from within their economies and contribute to regional economic development. This study explores the present situation on the trade between the Central region of China and ASEAN through empirical assessment and try to find the potential effects and trade flows between them. Firstly, we analysis the trade integration index, HM index, explicit comparative advantage index, and trade complementarity index. Finally, we use the gravity model of international trade and data on 2006-2018. The bilateral trade relations between the central region and ASEAN are getting closer, but the central region has not yet become the major trade area of ASEAN countries in the Chinese market. The bilateral economic development level plays a positive role in promoting the export trade between the Central region and ASEAN, while the bilateral distance plays a negative role in difficulty. The empirical results show that trade potential between the Central region and Indonesia and the Philippines is huge, and there is still opportunity for the development of the trade potential with Thailand. The trade prospective with Malaysia, Singapore and Vietnam is limited, and new approaches need to be developed to achieve further trade cooperation.
OECD countries have encountered the challenges of improving the environmental sustainability while maintaining economic growth by not impairing employment. This study attempts to reexamine the environmental Kuznets curve (EKC) hypothesis by using ecological footprint as an indicator of environmental degradation. Besides, our study aims to test the validity of environmental Phillips curve (EPC) and role of clean energy on ecological footprint. Our data cover a panel of 36 OECD countries from 1995 to 2015. We adopt the second-generation panel unit root and cointegration test to account for the presence of cross-section dependence (CSD). Moreover, the long-run relationship is estimated using Common Correlated Effect Mean Group (CCEMG) and Augmented Mean Group (AMG) that are robust to CSD. Our findings reveal that the EKC hypothesis is not valid while EPC is confirmed in OECD countries. Though there is a trade-off between unemployment and environmental degradation in OECD countries, the development of new technologies, especially in the clean energy sector, could be a key factor contributing to sustainable growth and better environmental quality. Thus, it is recommended that OECD countries should focus on the development of innovative green technologies and strengthen the initiatives that promote renewable energy consumption.
The energy-growth nexus has important policy implications for economic development. The results from many past studies that investigated the causality direction of this nexus can lead to misleading policy guidance. Using data on China from 1953 to 2013, this study shows that an application of causality test on the time series of energy consumption and national output has masked a lot of information. The Toda-Yamamoto test with bootstrapped critical values and the newly proposed non-linear causality test reveal no causal relationship. However, a further application of these tests using series in different time-frequency domain obtained from wavelet decomposition indicates that while energy consumption Granger causes economic growth in the short run, the reverse is true in the medium term. A bidirectional causal relationship is found for the long run. This approach has proven to be superior in unveiling information on the energy-growth nexus that are useful for policy planning over different time horizons.
Considering the importance of green economic growth and environmental sustainability in the discussion, it is crucial to understand its critical contributing factors and to draw results implications for the green policy. This research used the data of the South Asian Association for Regional Cooperation (SAARC) member countries for a period from 2005 to 2017. It adopted the panel autoregressive distributed lag technique to examine the hypotheses. The findings revealed that environmental sustainability is strongly and positively associated with national scale-level green practices, including renewable energy, regulatory pressure, and eco-friendly policies, and sustainable use of natural resources. Conversely, in our model, the "regulatory pressure" has an insignificant effect on economic growth. A necessary contribution of the present study is that a positive effect of green practices on national scale economic and environmental variables, particularly in the scenario of SAARC member states, can be noticed. At the end of the present study, we have provided policy implications for regulatory authorities and discussed potential areas for future research.
The relationship between national income growth and the environment of 14 Asian economies over a 50 year period is examined using the Environmental Kuznets Curve (EKC) hypothesis. Ecological Footprint (EF) measures environmental impacts and gross domestic product (GDP) measures economic growth. It is hypothesised that increased rates of economic growth come at a cost to the natural environment. The EKC hypothesis has been mainly tested in the literature by cross-sectional or panel data methods. In this study, it is tested using time series analysis through initially examining the relationship between EF and GDP using linear, quadratic and cubic estimating OLS regression functions. In the second stage, the long-run relationship between EF and GDP is investigated using an augmented error correction trend model. There is a statistically significant cointegrated long-run relationship between the variables in most of the countries. The EKC hypothesis is supported in the case of India, Nepal, Malaysia and Pakistan with the other countries exhibiting a positive linear relationship between the two variables. Almost all error correction terms are correct in sign and significance that implies that some percentage of disequilibria in EF in the previous year adjusts back to the long-run equilibrium in the current year. Based on the long-run relationship, it is apparent that rapid economic growth has had an impact on the environment and the ecosystems of these countries over the last 50 years. Despite that, until now, not many of them have taken sufficient steps to reduce their EF or to improve their bioproductive capacity.
Numerous studies have demonstrated that the development of low-carbon economy and industrial restructuring cannot occur in a coordinated manner. However, academic literature does not provide further explanations for this phenomenon. In this paper, we introduce a novel decomposition method to reassess the relationship between industrial restructuring and low-carbon economy, which yields similar findings. Next, we construct a straightforward theoretical model to investigate two fundamental reasons that interrelate with this issue: excessively high proportion of secondary sector and excessive carbon intensity of tertiary sector. Finally, we implement a rigorous causal identification using three-dimensional panel data at the provincial, industrial, and yearly levels by undergoing multiple robustness tests and mitigating endogeneity issues. Our heterogeneity tests suggest that the impact of industrial restructuring is greater in high-polluting industries, the Eastern region, and non-digital pilot regions. Overall, our theoretical and empirical analysis serves as a vital reference for other developing and developed countries to attain harmonious development between low-carbon economy and industrial restructuring.
The disastrous consequences of climate change for human life and environmental sustainability have drawn worldwide attention. Increased global warming is attributed to anthropogenic greenhouse gas (GHG) emissions, biodiversity loss, and deforestation due to industrial output and huge consumption of fossil fuels. Financial inclusion can be acted as an adaptation or a mitigation measure for environmental degradation. This study analyzed the impact of financial inclusion on environmental degradation in OIC countries for the period 2004-2018. A novel approach, "Dynamic Common Correlated Effects (DCCE)" is used to tackle the problem of heterogeneity and cross-sectional dependence (CSD). Various GHG emissions along with deforestation and ecological footprint are used as indicators of environmental degradation. Long-run estimation confirms that financial inclusion is positively and significantly linked with CO2 emission, CH4 emission, and deforestation while negatively correlated with ecological footprint and N2O emission in overall and higher-income OIC economies. An inverted U-shaped environmental Kuznets curve (EKC) is validated when ecological footprint, CO2, and CH4 are used in all panels of OIC countries. An inverted U-shaped EKC is also observed for deforestation in lower-income and overall OIC countries. In the case of N2O emission, however, a U-shaped EKC appears in lower-income and overall OIC countries. It is suggested that the governments of OIC countries should continue to have easy access to financial services and maintain sustainable use of forests and biocapacity management to address environmental challenges.
Green growth is an extension of traditional economic growth. Financial fragility and ICT penetration are important pillars of green growth sustainability. However, very limited studies have explored this association and provided conflicting results. Thus, our study intends to fill this vacuum by exploring the impact of financial fragility and ICT penetration on renewable energy consumption and green growth for the top five polluting economies over the period 1996-2020. In this study, financial fragility is measured by bank costs and bank non-performing loans. Panel ARDL technique is used to find out long-run and short-run results estimates. Financial fragility reduces renewable energy consumption and green growth in the long run. However, internet penetration enhances renewable energy consumption and green growth in the long run. Our findings suggest imperative policy implications for the green economy.
There is strong scientific evidence to suggest that carbon dioxide (CO2) emissions are one of the key drivers of global warming. Rising CO2 emissions across the globe have been traced back to increasing global trade and rapid industrial development powered by fossil fuels. High CO2 emissions have had an adverse effect on the quality of life and economic growth of communities across the globe. In this study, the Granger causality approach is used to examine scientifically some causal relationships between energy consumption, CO2 emissions, economic growth, and key macroeconomic variables (trade openness and foreign direct investment) in the panel of Financial Action Task Force (FATF) countries. FATF countries are signatories to agreements to adhere to good financial practices to ensure sustainable development of their economies. The empirical analysis was conducted for the period 1980 to 2020. Results indicate a strong endogenous relationship between the variables in the short and long run. The analysis suggests that careful co-curation of economic, trade, energy, foreign direct investment, and environmental management policies is needed to ensure sustainable economic development in the FATF countries. Global trade and foreign direct investment policies must foster new environmental-friendly industries and greater use of clean renewable energy among these countries. Note: Arrows indicate direction of possible causal links between the variables.
This research article aims to investigate the moderating role of financial development in Environmental Kuznets Curve (EKC) in the context of Malaysia for the period 1970-2016. As the time series variables are integrated of different order therefore, Auto-Regressive Distributed Lag (ARDL) model has been employed to estimate the long-run equilibrium relationship among the variables. The results indicate that EKC does exist for Malaysia and financial development has negative impact on carbon emission. Moreover, financial development is found to have significant moderating impact on income environment relation. More financial development brings early turning point of the EKC. The results recommend that financial development can be used as one of the policy measures to reduce the environmental cost of economic growth in Malaysia.
Mechanisation of large scale agricultural fields often requires the application of modern technologies such as mechanical power, automation, control and robotics. These technologies are generally associated with relatively well developed economies. The application of these technologies in some developing countries in Africa and Asia is limited by factors such as technology compatibility with the environment, availability of resources to facilitate the technology adoption, cost of technology purchase, government policies, adequacy of technology and appropriateness in addressing the needs of the population. As a result, many of the available resources have been used inadequately by farmers, who continue to rely mostly on conventional means of agricultural production, using traditional tools and equipment in most cases. This has led to low productivity and high cost of production amongst others. Thus, this paper attempts to evaluate the application of present day technology and its limitations to the advancement of large scale mechanisation in developing countries of Africa and Asia. Particular emphasis is given to a general understanding of the various levels of mechanization, present day technology, its management and application to large scale agricultural fields. This review also focuses on/ gives emphasis to future outlook that will enable a gradual, evolutionary, and sustainable technological change. The study concludes that large scale-agricultural farm mechanisation for sustainable food production in Africa and Asia must be anchored on a coherent strategy based on the actual needs and priorities of the large- scale farmers.
The connection between ecological footprint and economic complexity has significant implications for environmental sustainability regarding the policy. Additionally, institutional quality is crucial in ensuring environmental sustainability and moderating the link between economic complexity and ecological footprint. The task of achieving sustainable environmental development and preventing further degradation of the environment poses a formidable challenge to policymakers. This study delves into the significance of technology innovation and renewable energy in creating a more sustainable environment. Recognizing the need for a more critical review, this research establishes the dynamic linkage between ecological footprint, renewable energy consumption, and technological innovation, especially in conjunction with a moderating component, particularly institutional quality, in G20 countries from 1990 to 2021. We employ advanced panel approaches to address panel data analysis concerns, such as cross-sectional dependence, slope heterogeneity, unit root, cointegration test and CS-ARDL. The long-term estimator indicates that renewable energy and technological innovation negatively but significantly impact the ecological footprint. Whilst economic growth, FDI, and urbanization have shown a positive and significant impact on ecological footprint; institutional quality negatively moderates the relationship between ecological footprint, renewable energy, and technological innovation in the G20 countries. Further evidence from the Dumitrescu-Hurlin Granger causality test shows that efforts to expand access to renewable energy, technological advancements, and economic growth will significantly affect environmental impacts. Based on our results, it is imperative to introduce more favorable legislation and encourage technological advancements in the field of renewable energy if we want to achieve our sustainable development objectives.
It is well documented that carbon emissions can be reduced by replacing conventional energy resources with renewable energy resources; thereby, the role of green technology is essential as it protect natural environment. Given that, the United Nations' agenda of "green is clean" may be achievable by adoption of green technologies. The objective of the study is to examine the link between information and communication technology (ICT), economic growth, energy consumption, and carbon dioxide (CO2) emissions in the context of South Korean economy, by using a novel Morlet wavelet approach. The study applies continuous wavelet power spectrum, the wavelet coherency, and the partial and the multiple wavelet coherency to the year during 1973-2016. The outcomes reveal that the connections among the stated variables progress over frequency and time domain. From the frequency domain point of view, the current study discovers noteworthy wavelet coherence and robust lead and lag linkages. From the time-domain sight, the results display robust but not consistent associations among the considered variables. From an economic point sight, the wavelet method displays that ICT helps to reduce environmental degradation in a medium and long run in the South Korean economy. This emphasizes the significance of having organized strategies by the policymakers to cope up with 2 to 3 years of the occurrence of the huge environmental degradation in South Korea.
The objective of the study is to examine the impact of natural disasters on external migration, price level, poverty incidence, health expenditures, energy and environmental resources, water demand, financial development, and economic growth in a panel of selected Asian countries for a period of 2005-2017. The results confirm that natural disasters in the form of storm and flood largely increase migration, price level, and poverty incidence, which negatively influenced country's economic resources, including enlarge healthcare expenditures, high energy demand, and low economic growth. The study further presented the following results: i) natural resource depletion increases external migration, ii) FDI inflows increase price level, iii) increase healthcare spending and energy demand decreases poverty headcount, iv) poverty incidence and mortality rate negatively influenced healthcare expenditures, v) industrialization increases energy demand, and vi) agriculture value added, fertilizer, and cereal yields required more water supply to produce greater yield. The study emphasized the need to magnify the intensity of natural disasters and create natural disaster mitigation unit to access the human and infrastructure cost and attempt quick recovery for global prosperity.
This study measures the energy rebound effects of Chinese energy and coal power use in Chinese energy-intensive industries by using latent class stochastic frontier models like LMDI, and other various econometric estimation approach for coal-supplying regions in China ranging between 1992 and 2018. The findings reveals that China's coal sector's average capacity consumption is 0.81%, with a pattern of first increasing and then decreasing, falling to 0.68% in 2016 specifically. The coal capacity operation rate concerning low as well as depleted regions is generally strong, with limited space for expansion. In 2015 and 2016, the utilization rate of coal production potential in moderate-producing areas fell about 42%. Economic development variables affect the capacity utilization levels of moderate, weak, and depleted generating regions. At the same time, the price volatility cannot induce a practical improvement in the ability utilization rate, which means that China's coal industry is mainly un-marketized. China's energy efficiency increased about 19.98% among 2000 and 2016, while the rapidest expansion pattern has been noted in the eastern province at 39.86%, next to central (11.71%) and western regions (9.59%). The take back impact via the renewable energy and renewable productivity channels is estimated as 12.34% and 25.40%, respectively. Therefore, the take back impact is of significant importance regarding energy preservation, as China's cumulative renewable energy use is equal to China's aggregate energy use. On such findings, recent research also contributed by presenting novel policy implications for key stakeholders.
With economic growth and significant technological advances in the health sector, many countries have developed aggregate outcomes in terms of both health services and individual well-being. Life expectancy has seen a remarkable increase of more than fifty per cent between 1950 and 2009. Achievement is uneven, however, and some groups are better able to access health services than others. In our review, we explore the need and how to maximize health equity, efficiency and effectiveness. Methodology is the review and web surfing on public health, social science, humanity and development literature. The increasing gap in health inequality, however, calls for further reform of the health system to achieve both equity and efficiency. Health is essential for survival and human capability. Good health enables people to participate in society. A new approach to efficient and cost-effective health service provision is community participation in health development. Participation can increase the skills and knowledge of local people, thus providing opportunities to improve their lives (empowerment). Analysis suggests four functional changes to achieve equity and efficiency in maximizing health outputs: reforms targeting universal coverage to achieve universal access to health; people-centred service delivery through concentrating on health services based on need; public policy change targeting integrated and multi-system health planning; and collective health system and community response to achieve health for all.
"Smart cities" have become the development direction pursued by city leaders to address challenges related to rapid growth in urban areas. The sustainable development of the logistics sector has important practical significance for the evolution of smart cities. This study assessed the inefficiency rate and total factor productivity (TFP) of logistics in 36 Chinese cities from 2006 to 2015. The directional distance function (DDF) and Luenberger productivity index analytical approaches were used to assess the relevant parameters. The results revealed that the logistics system inefficiency rate of the eastern region was much higher than that of the central and western regions, while that of the western region was slightly higher than that of the central region. This study identified the main constraints of the logistics TFP in different regions in China. This finding is used to promote policy-making and investment planning to improve China's competitive advantage. The results documented that the central region of China needs to accelerate logistics reforms and use its location advantage of its location to form an organic connection with the eastern and western regions. Countries can use such metrics to take actions to improve their logistics performance, as such an improvement has a causal relationship with economic development.
The triple components of energy consumption, carbon dioxide emissions, and economic expansion are important to achieving sustained economic activity and sound ecological advancement. This study aims to estimate the impact of wide-ranging parameters on environmental circumstances in South Asian countries. This analysis required two approaches: 1)quantile autoregressive distributed lag (QARDL) as an econometric model, and 2) data envelopment analysis (DEA) non-parametric comparable composite index to examine concurrently South Asian nations' data for the 2000-2018 period. The underscored category of the parameters were grouped into four key indices, namely financial, fiscal, human, and energy. The DEA's mathematical composite findings reveal varied circumstances regarding environmental self-maintenance in South Asian nations. India and Pakistan are doing quite well; Afghanistan is abysmal. In addition, the QARDL approach findings reveal that energy use and fiscal indicators abate pollution. Furthermore, the correlation between fiscal decentralization and ecological attributes is strengthened by the excellent level of institutions and human capital progress. There is a unidirectional impact emanating from fiscal devolution, gross domestic product, human capital, eco-innovation, and institutional excellence on carbon dioxide pollution, although different from the other correlations obtained.