The paper uses the nonparametric additive regression model with data- driven characteristics to investigate the impact of fossil energy abundance on China's economic growth and carbon dioxide (CO2) ...emissions. The results show that the effect of fossil energy abundance on economic growth shows an inverted “U-shaped” pattern in the eastern region, due to the changes in coal mining, oil processing, and coking investments. On the contrary, fossil energy abundance exerts a positive “U-shaped” nonlinear effect on economic growth in the central region. This indicates that in the early stages fossil energy abundance did not play a role in promoting economic growth, and its driving effect was only prominent in the later stages. In addition, fossil energy abundance generates a positive “U-shaped” impact on CO2 emissions in the eastern and central regions, because of the changes in coal and oil consumption at different stages. However, fossil energy abundance has an inverted “U-shaped” nonlinear effect on CO2 emissions in the western region, on account of the phase difference in the production and consumption of natural gas and oil.
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•Fossil energy has a positive “U-shaped” impact on CO2 emissions in the eastern and central regions.•The impact of fossil energy on economic growth in the eastern region is an inverted “U-shaped” pattern.•Fossil energy abundance exerts a positive “U-shaped” nonlinear effect on economic growth in the central region.
This study demonstrates estimations of economic activities on global, national, and subnational levels using remote sensing data, with a focus on developing economies. It extends a recent statistical ...framework which uses nighttime lights to estimate official income growth by accounting for agriculture and forestry which emit less or no additional observable nighttime light. The study argues that nighttime lights alone may not explain value-added by agriculture and forestry. By adding land cover data, our framework can be used to estimate economic growth in administrative areas of virtually any size.
U.S. data reveal three facts: (1) the share of goods in total expenditure declines at a constant rate over time, (2) the price of goods relative to services declines at a constant rate over time, and ...(3) poor households spend a larger fraction of their budget on goods than do rich households. I provide a macroeconomic model with non-Gorman preferences that rationalizes these facts, along with the aggregate Kaldor facts. The model is parsimonious and admits an analytical solution. Its functional form allows a decomposition of U.S. structural change into an income and substitution effect. Estimates from micro data show each of these effects to be of roughly equal importance.
Resource curse and green economic growth Cheng, Zhonghua; Li, Xiang; Wang, Meixiao
Resources policy,
December 2021, 2021-12-00, 20211201, Letnik:
74
Journal Article
Recenzirano
The implementation period of the “Sustainable Development Plan of Resource-based Cities in China (2013–2020)” is drawing to a close. Objective evaluation of the effect of the policy is of great ...theoretical and practical significance for China's resource-based cities in their quest to transform their economic development models and realize sustainable development. However, there are few literatures to analyze the resource curse phenomenon from the perspective of policy evaluation. In this paper, the panel data of 285 cities in China from 2003 to 2018 are used to empirically analyze the impact of the plan on the green economic growth of resource-based cities by using the Difference-in-Differences (DID) method. The results show that after a series of robustness tests, the plan can significantly promote green economic growth in resource-based cities and effectively alleviate the “resource curse” phenomenon in these cities. In addition, this paper also explores the transmission mechanism of the plan to promote urban green economic growth. The study shows that the plan significantly improves the green economic efficiency of resource-based cities by increasing investment in scientific and technological innovation, promoting the development of the manufacturing industry, improving system quality and strengthening environmental regulations. Therefore, the development of resource-based cities of the future can better avoid the “resource curse” and achieve sustainable development if their rich resource advantages can be used to focus on scientific and technological innovation, increases in investment in the manufacturing industry and improvements in system quality and environmental regulation.
•We analyze the effect of the Resource-based Cities Plan on green economic efficiency.•We use the global ML index to measure green economic efficiency.•The Resource-based Cities Plan is conducive to economic green growth.•We analyze the effect mechanism of the Resource-based Cities Plan.
•This study estimates the material recycling effect on environmental quality and economic development in the United States.•Few studies have been studied through national scale material recycling, ...environmental, and economic indicators.•This study employs a novel bootstrapping autoregressive distributed lag modeling for investigating the attributes’ causality interrelationships.•This study utilizes quarterly data from 1990 to 2018.•This study is to confirm an uni-directional causality from material recycling to economic growth, carbon emissions, and energy efficiency.
This study contributes to estimate the municipal solid waste (MSW) recycling effect on environmental quality and economic growth in the United States. Few studies have been given to macro-level aggregate analysis through national scale MSW recycling, environmental, and economic indicators. This study employs bootstrapping autoregressive distributed lag modeling for investigating the cointegration relationship among MSW recycling, economic growth, carbon emissions, and energy efficiency utilized quarterly data from 1990 to 2017. The result implies that a one percent increase in MSW recycling contributes to economic growth and reduce carbon emissions by 0.317% (0.157%) and 0.209% (0.087%) in the long-run (short-run). Similarly, a one percent improvement in energy efficiency stimulates economic growth by 0.489% (0.281%) and mitigates carbon emissions by 0.285% (0.197%) in the long-run (short-run). A higher per capita income and population growth caused higher emissions by 0.197% and 0.401% in the long-run. The overall results reveal stronger impacts in the long-run than the short-run with significant convergence towards long-run equilibrium, suggesting a prominent long-run transmission of economic and environmental fallouts. This study confirms a uni-directional causality from MSW recycling to economic growth, carbon emissions, and energy efficiency. These outcomes signify that any policy intervention related to MSW recycling produces significant changes in the level of economic growth and carbon emissions. The finding provides valuable insight for policymakers to counteract carbon emissions through recyclable waste management that simultaneously create significant economic value.
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Finance, Firm Size, and Growth BECK, THORSTEN; DEMIRGUC-KUNT, ASLI; LAEVEN, LUC ...
Journal of money, credit and banking,
October 2008, Letnik:
40, Številka:
7
Journal Article
Recenzirano
Odprti dostop
Although research shows that financial development accelerates aggregate economic growth, economists have not resolved conflicting theoretical predictions and ongoing policy disputes about the ...cross-firm distributional effects of financial development. Using cross-industry, cross-country data, the results are consistent with the view that financial development exerts a disproportionately positive effect on small firms. These results have implications for understanding the political economy of financial sector reform.
Global warming and the conservation of resources is a challenge for policymakers to achieve sustainable development. This study develops a new global tourism index, based on standard index-making ...procedures (indicators selection, winsorization, normalization, aggregation). It explores the impact of the global tourism index, renewable energy, gross domestic product, trade openness, urbanization, and cultural globalization on total ecological footprints and net resource depletion in 47 high-income countries, 33 upper-middle-income countries, 35 lower-middle-income countries, and 13 low-income countries from 1995 to 2019. The environmental Kuznets curve hypothesis has been validated in high-income (turning point: 41.010), lower-middle-income (turning point: 38.919), and low-income (turning point: 31.553) countries. The regression analysis confirmed a reduction in ecological footprint due to an increase in renewable energy use (all panels), urbanization (upper middle and low-income countries), and cultural globalization (lower-middle and low-income countries). The increase in ecological footprints was reported due to an increase in the gross domestic product (all panels), trade (high and low-income countries), and urbanization (high-income countries). The reduction in resource depletion was occurred due to an increase in tourism (high, upper-middle, and lower-middle-income countries), renewable energy (all panels), urbanization (upper middle and low-income countries), and cultural globalization (all panels). It is recommended to expand tourism activities and renewable energy. It is suggested to educate people about sustainable utilization of natural resources.
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•We construct a novel index of tourism development using five indicators.•We use panel data of 128 countries, divided into four income groups.•We test EKC and turning points between ecological footprint and tourism index.•The EKC exists in high-income, lower-middle-income, and low-income countries.•Resource depletion is reduced due to tourism, renewable energy, and globalization.
This study employed the FMOLS and DOLS models to examine the impact of renewable energy, trade openness and economic growth on CO2 emissions in MENA countries over the period 1990-2023. Furthermore, ...we employ SGMM approach in order to robustify DOLS and FMOLS results. Our findings reveal that the renewable energy promotes the environmental quality by decreasing the CO2 emissions in the MENA countries. However, the economic growth increases the carbon emissions. The study reveals also that instead of the conventional U-shaped EKC hypothesis, there is the inversed U-shaped relationship between CO2 emissions and economic growth in the long run. For the trade openness, it has a negative effect on CO2 emissions, in the SGMM model. However, our findings in the FMOLS and DOLS show that it increases the CO2 emissions in the long run. Then this paper suggests that MENA policy makers should maximise the use of renewable energy and ensure the efficient utilization of GDP and trade openness in order to minimise the level of CO2 emissions.
The energy sector plays a crucial role in boosting economic growth and improving the standard of living in Pakistan. However, the extensive use of energy from different sources, such as hydel, ...nuclear, and thermal energy, has resulted in significant impacts on environmental degradation and negative health impacts for local communities. The study examined the tri-dimensional nexus between different types of energy use, economic growth, and environmental degradation in Pakistan using the ARDL regression model with data spanning from 1972 to 2021. The empirical findings show that overall energy consumption, including hydro, nuclear, and thermal energy, has a positive and significant impact on economic growth in both the short and long term. This suggests that energy consumption is the main driver of economic growth, emphasizing the need for a sufficient supply of energy to meet the economy's needs. On the environmental front, the study lends support to the existence of the EKC hypothesis in the context of Pakistan. However, in the long run, biocapacity in terms of forest products has a positive effect, whereas hydro, nuclear, and thermal energy have a negative effect on environmental quality. But in the short run, nuclear and hydroelectric energy have a positive but insignificant effect on ecological footprints. These findings suggest the need for Pakistan to focus on reducing the use non-renewable energy and promoting the use of cleaner energy sources to mitigate environmental impacts. This study also highlights the importance of policymakers considering the environmental consequences of energy and growth when making decisions in Pakistan.
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