Dynamic risk connectedness of crude oil price and sustainable investment in the United States: evidence from DCC-GARCH.

Sustainable investment is widely regarded as an important market-based approach to achieving inclusive green growth. To achieve the inclusive green growth objective, companies providing sustainable products must be profitable enough to attract private capital. Oil price changes can however affect the profitability of such companies.

The role of energy, political stability, and real income on achieving carbon neutrality: asymmetric evidence.

Apart from business considerations stemming from the marketplace, businesses, individuals, and the economy at large, political decisions also play a role on environmental quality. Governments make a series of policies that impact private businesses, sectors, the environment, and the economy at large. In this paper, we test the asymmetric role of political risk on CO emissions, while controlling for renewable energy, non-renewable energy, and real income: policy toward environmental sustainability objectives in the context of Turkey.

Economic growth, social, and welfare development during COVID-19 pandemic: do country-specific characters matter in the MENA region?

The coronavirus disease 2019 (COVID-19) pandemic has generated major shocks that have crippled the economic development of many countries and regions. The COVID-19 pandemic has hampered not only economic development but also global countries from achieving their sustainable development goals through various channels. Given their first experience, many countries have no guidelines for measuring the true impact of the pandemic on their economic and social development, either at the global, regional, or country level.

Effects of climate policy uncertainty on sustainable investment: a dynamic analysis for the U.S.

Uncertainties surrounding climate change policies of the United States introduce some degree of risk into sustainable investment decisions in the country. This study is an attempt to provide a new perspective on the nature of this problem. Both the traditional and time-varying nonparametric quantile causality techniques are employed in investigating the effects of climate policy uncertainty on sustainable investment in the United States.

Does political stability contribute to environmental sustainability? Evidence from the most politically stable economies.

The study evaluates the effect of political risk on CO emission in the top 10 most politically stable economies (Australia, Canada, Germany, Finland, Denmark, Norway, Netherlands, New Zealand, Sweden, and Switzerland) from 1991/Q1 and 2019/Q4. To the investigators' understanding, this is the first empirical analysis that inspects the effect of political risk on CO emissions in the top 10 most politically stable economies. Therefore, the current paper fills a gap in the existing literature.

Re-visiting the resource curse hypothesis in the MINT economies.

Natural resources are extremely important to the economy, particularly in emerging nations such as the MINT (Mexico, Indonesia, Nigeria, and Turkey) nations. To improve their economic performance, such nations put a priority on maximizing the use of natural resources. These natural materials are the basis on which all living creatures rely, and they are the primary motivation behind contemporary production.

Synergy effects of ICT diffusion and foreign direct investment on inclusive growth in Sub-Saharan Africa.

The present study critically examines the synergy effect of information communication technology (ICT) diffusion and foreign direct investment (FDI) on inclusive growth in Sub-Saharan African (SSA) countries using a modified system-generalized method of moments (GMM) model based on panel data covering the period 2005-2020. This study differs significantly from the previous studies in four ways: (i) this study uses a more comprehensive measure of ICT by computing a composite ICT index, which takes into account several ICT indicators; (ii) some existing study uses a narrow proxy of inclusive growth using the Gini index as a proxy, while others consider three patterns of economic growth dynamics (GDP growth, real, and per capita GDP). For robust analysis, we computed a composite inclusive growth index that takes into account several shared growth indicators; (iii) our model captures the heterogeneity effect of the interaction term of FDI and ICT diffusions on two groups of SSA countries, unlike the previous studies that estimated the joint impact of FDI and ICT on the whole group of countries; (iv) we contribute to the extant studies by determining the threshold level at which ICT diffusion may determine the effect of FDI on inclusive growth.

The effect of financial globalization and natural resource rent on load capacity factor in India: an analysis using the dual adjustment approach.

Currently, the most crucial economic and ecological issues are related to environmental degradation and sustainability. On this backdrop, this paper examines the impact of financial globalization and natural resource rent on load capacity factor, using the novel dual adjustment approach and time-frequency domain causality approaches, in the case of India. This study contributes to the extant body of knowledge in the area of environmental economics.

The criticality of financial risk to environment sustainability in top carbon emitting countries.

This research examines the linkage between financial risk and carbon emissions using a quarterly dataset spanning from 1991 to 2019 for top carbon emitting countries. To achieve the study objective, this study apply quantile-on-quantile regression (QQR), the quantile regression (QR) approach for robustness check, and the nonparametric predictive test that identifies causality in mean and variance. Empirical findings from the QQR technique disclose the following: (i) financial risk decreases carbon emissions in the USA, Russia, Germany, and Canada; (ii) in China, India, Japan, Brazil, and Indonesia, financial risk enhances carbon emissions (iii) while we find mixed reactions in the case of South Korea.

Criticality of geothermal and coal energy consumption toward carbon neutrality: evidence from newly industrialized countries.

This study examines the long-term effects of coal and geothermal consumption on carbon emission while controlling for globalization and economic growth toward carbon neutrality in newly industrialized countries, including Brazil, China, India, Mexico, Malaysia, the Philippines, South Africa, Turkey, Indonesia, and Thailand for the period of 1990-2008. We compare the resulting relationships from various estimation techniques, such as fixed-effect ordinary least squares, dynamic ordinary least squares, fully modified ordinary least squares, and method of moment quantile regression. Overall, this study determines that the consumption of coal and geothermal energy is a significant determinant with a causal effect on carbon emission.

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.

Impacts of globalization and energy consumption on environmental degradation: what is the way forward to achieving environmental sustainability targets in Nigeria?

One of the major problems the world is currently facing is climate change. This is due to the use of fossil fuel combustion, which increases the presence of CO emissions and other greenhouse gases in the atmosphere in several countries of the world, which Nigeria is not exempted from. Against this background, this study examines the impacts of globalization, real income, urbanization, and energy consumption on environmental degradation; and proffer way forward to achieving environmental sustainability targets in Nigeria, using quarterly frequency time series data over a period 1971-2018.

Does political risk drive environmental degradation in BRICS countries? Evidence from method of moments quantile regression.

As a contribution to the political risk-environmental degradation literature, this study examines whether political risk drives environmental degradation in a multivariate framework. To achieve our study objective, we employed the method of moments quantile regression (MMQR) approach to analyze the effect of renewable energy use, economic growth, political risk, and globalization on quantiles of carbon emissions. The study utilized dataset stretching between 1990 and 2018 to investigate this interrelationship in the BRICS nations.

Revisiting oil rents-output growth nexus in Nigeria: evidence from dynamic autoregressive distributive lag model and kernel-based regularized least squares approach.

Given the dominant role of oil in terms of foreign exchange earnings in Nigeria, this study revisits the oil rents and output growth nexus, using the novel dynamic autoregressive distributive lag (DYNARDL) model and kernel-based regularized least squares (KRLS) approach over the period 1973-2020. The major finding from this study is that oil rents are less significant for output and also exhibit decreasing marginal effect on output growth in Nigeria. However, our robustness result shows that oil revenue is positive and significantly affects output growth, while corruption dampens output growth.

Does interaction between technological innovation and natural resource rent impact environmental degradation in newly industrialized countries? New evidence from method of moments quantile regression.

As a contribution to the technological innovation-natural resource rent-environment literature, this study examines the technological innovation and natural resource rent in an environmental Kuznets curve (EKC) multivariate framework. We employed reliable, robust, and efficient novel panel estimations methods on a sample of 10 newly industrialized countries (NICs) over the periods 1990 and 2018. To achieve our study objective, we employ the method of moments quantile regression (MMQR) approach to analyze the effects of the exogenous variables over the range of diverse quantiles of carbon emissions.

The role of economic complexity in the environmental Kuznets curve of MINT economies: evidence from method of moments quantile regression.

In the face of mounting climate change challenges, reducing emissions has emerged as a key driver of environmental sustainability and sustainable growth. Despite the fact that research has been conducted on the environmental Kuznets curve (EKC), few researchers have analyzed this in the light of economic complexity. Thus, the current research assesses the effect of economic complexity on CO emissions in the MINT nations while taking into account the role of financial development, economic growth, and energy consumption for the period between 1990 and 2018.

Asymmetric nexus among financial globalization, non-renewable energy, renewable energy use, economic growth, and carbon emissions: impact on environmental sustainability targets in India.

Financial globalization has been argued to contribute to the increase/decrease in greenhouse gases and hence global temperature. India, according to International Energy Agency (IEA), is the third largest emitter of greenhouse gases globally, where the consumption of the few rich produces about seven times carbon emissions when compared with the poorest households. This current research explores the asymmetric effect of financial globalization on carbon emissions, while controlling for non-renewable energy utilization, renewable energy consumption, and economic expansion.

The role of electricity consumption, capital, labor force, carbon emissions on economic growth: implication for environmental sustainability targets in Nigeria.

Despite consistent investments, grants, and other concessions in the power sector, nationwide power outages still remain an issue, even in 2020, disrupting business operations, contributing to huge recurrent expenses on generators and alternative sources of electricity in homes, businesses, and institutions. In this paper, we examine the role of electricity consumption on economic growth, while controlling for labor, capital, and carbon emissions, using the autoregressive distributed lag (ARDL) and the novel dynamic ARDL (DYNARDL) simulation analysis over the periods 1981-2019. Empirical results show that electricity consumption, capital, and labor exert positive inelastic impacts, while carbon emissions exert negative inelastic significant impact on economic growth within the period under investigation.

Appraising the oil-stock nexus during the COVID-19 pandemic shock: a panel threshold analysis.

We examine the oil-stock nexus in 24 countries amidst the COVID-19 pandemic and test for threshold effects on oil prices using Hansen (1999) panel dynamic threshold model and recent extensions of Kremer et al. (2013) and Seo and Shin (2016). We find evidence of nonlinearities and threshold effects in oil prices.

The persistence of precious metals and oil during the COVID-19 pandemic: evidence from a fractional integration and cointegration approach.

In this paper, the behavior of precious metals and oil is examined using a fractionally integrated and cointegrated modeling approach. Using daily data from January 2015 to December 2020 and using both endogenous and exogenous structural breaks, we examine the behavior of the related series before and during the COVID-19 pandemic with the aim of investigating whether the degree of persistence has changed since the onset of COVID-19. We found that precious metals and oil exhibit long memory and are mean reverting regardless of the sample considered as the fractional parameter d < 0.

Natural gas consumption-economic output and environmental sustainability target in China: an N-shaped hypothesis inference.

On one divide, energy types have been linked with the varying degree of environmental damage. Another perspective argued on the severity of the damaged base on per capita and/or population consumption pattern. As such, this study investigates the nexus of per capita natural gas consumption-carbon dioxide emissions and per capita income-carbon dioxide emissions in the case of the People of the Republic of China.

Are geopolitical threats powerful enough to predict global oil price volatility?

Geopolitical risks have been widely linked to oil price movements in the past. Our study as an addition to this debate shows that geopolitical threats particularly play a significant role in the volatility experienced in global oil markets with attendant policy suggestions. In this study, we employed the newly developed geopolitical threats index to examine whether threats of war, terrorism, and ethnic and political violence within and between countries are powerful enough to predict volatility in global oil prices.

Foreign direct investment amidst global economic downturn: is there a time-varying implication for environmental sustainability targets?

Turkey attracted more foreign investment in a period when global foreign direct investment flows experienced a recession due to the USA-China trade war/tension coupled with structural issues within the EU nations. In this paper, the time-varying impact of foreign direct investment on environmental sustainability targets amidst global economic downturn was examined. To achieve this, a time-varying parameter approach, which adequately deals with potential parameter instabilities and nonlinearities, and effectively captures impact variations over time, was employed to investigate the impacts of increased foreign direct investment on environmental degradation amidst global economic downturn for the period 1970-2017.

Energy mix outlook and the EKC hypothesis in BRICS countries: a perspective of economic freedom vs. economic growth.

This study attempts to unveil an additional dimension to economic freedom within the framework of the environmental Kuznet curve (EKC) hypothesis using the panel data for BRICS (Brazil, Russia, India, China, and South Africa) economies over the period 1995-2018. Firstly, the study found that the EKC hypothesis is valid only in the long run for the panel countries. Secondly, we found that economic freedom mimics the pattern of economic output.