In all countries, the priority of policymakers is to reduce carbon emissions without reducing economic growth performance. Progress in innovation is one of the main measures that can be used to ...reduce carbon emissions. It is important to demonstrate the impact of innovation at the sectoral level, in terms of more realistic data on policy measures. The aim of this study is to investigate the effects of innovation on carbon emissions on a sectorial basis for fourteen countries in the G20, for the period between 1991 and 2017. The selected countries are Argentina, Brazil, Canada, France, Germany, India, Indonesia, Japan, Korea, Mexico, South Africa, Turkey, the United Kingdom, and the United States for which data is available. The results show that the Environmental Kuznets Curve (EKC) hypothesis is invalid and, in the long-term, innovations did not have a statistically significant effect on the energy sector, transport sector, and other sectors. It was also found that while an increase in innovation in the industrial sector leads to a reduction in carbon emissions, an increase in innovation in the construction sector increases carbon emissions. Therefore, it can be recommended that, in addition to national policies to reduce CO2 emissions, specific policies should be implemented for each sector separately.
•Innovation on carbon emission on a sectorial basis for 14 countries in G20 for 1971–2017.•The Environmental Kuznets Curve (EKC) hypothesis is invalid.•Long-term innovations didn’t have a significant effect on the energy sector, transport sector, and other sectors.•The increase in innovation in the industrial sector leads to a reduction in carbon emissions.•Increasing innovation in the construction sector increases carbon emissions.
Proper use and efficient management of natural resources are critical to shaping a sustainable future in many resource‐rich countries in Africa. It is also well‐known that globalization creates a ...great awareness for sustainable resource extraction and provides cleaner production technology transfers to underdeveloped countries and enables them to establish a sustainable development pattern. However, evidence on the role of globalization in reducing the environmental impacts of natural resources in resource‐based economies is relatively scant. This study investigates sustainable future strategies by examining the role of natural resources, globalization, human capital, and urbanization in shaping the ecological footprint that is a broader indicator of environmental sustainability. To this end, Sub‐Saharan African countries—endowed with a rich natural resource base ranging from arable land, forest, freshwater, marine resources, oil, natural gas, minerals, and wildlife—are analyzed through advanced estimation techniques. Empirical results show that both resource dependence and abundance complicate to design a sustainable future by increasing the pressure on the environment. Similarly, urbanization deteriorates ecological conditions in Sub‐Saharan African countries. However, globalization and human capital seem the main sources of a cleaner and sustainable environment. The findings of the study shed new light on the main role of globalization in providing cleaner practices to reverse the negative influence of natural resource dependence and/or abundance on environmental quality.
The financial system needs to develop in order for natural resource exports to have a positive effect on economic growth. Yet, an advanced financial system is crucial for transferring the revenues ...from oil exports to productive investments. If the level of development of the financial system remains under a certain threshold, the effect of natural resource exports on economic growth is too low. In this vein, the determination of the level and the deepness of financial development that has a positive impact on the growth of natural resource exports should be clarified. The aim of this study is to investigate the relationship between the impact of natural resource exports on economic growth and the level of financial deepening by using the data of the selected Next-11 countries for the period of 1996–2016. Nonlinear panel data methodology is used in the study. Based on the empirical results, for the first regime, where the rate of financial deepening is under 45%, the increase in oil exports does not have a statistically significant effect on ecenomic growth. For the second regime, where financial deepening is over 45%, one unit increase in oil exports causes a 7% increase in economic growth.
•Impact of natural resource exports on economic growth and financial deepening of selected Next-11 countries for period 1996-2016.•The stationarity conditions of the series, the CIPS test (Cross Sectionally Augmented IPS), developed by Peasaran (2007).•For the first regime, the increase in oil exports does not have a statistically significant effect on ecenomic growth.•For the second regime, where financial deepening is above 45%, one unit increase in oil exports causes a 7% increase in economic growth.
•The paper aims to examine the effects of international tourism on carbon emissions in the most visited countries by using panel quantile regression.•We examine moderating effect of eco-friendly ...innovations on the transportation sector on the relationship between international tourism and carbon emissions.•Empirical results show that international tourism leads to increase carbon emissions at the highest quantiles of carbon emissions.•The effect of improvements in eco-friendly technologies for transportation is significant on carbon emissions at all quantiles.•The effect of improvements in eco-friendly technologies for transportation eliminates the harmful effect of international tourism on environmental quality.
The paper aims to examine the effects of international tourism on carbon emissions in the most visited countries using panel quantile regression for the periods 1995-2018. Since the primary source of carbon emissions from international tourism is transportation, we examine the moderating effect of eco-friendly innovations on the transportation sector for the relationship between international tourism and carbon emissions. Empirical results show that while international tourism led to an increase in carbon emissions between the fifth and ninth quantiles of carbon emissions, eco-friendly innovations for the transportation sector play an essential role in the effect of international tourism on carbon emissions. We find that the impact of improvements in eco-friendly technologies for transportation is significant on carbon emissions at all quantiles and that it eliminates the harmful effect of international tourism on environmental quality. These results are important for policy-makers to reduce carbon emissions from tourism because these countries have committed to reducing their carbon emissions according to the Paris Accord and the Sustainable Development Goals.
Innovation technologies have been recognized as an efficient solution to alleviate carbon emissions stem from the transport sector. The aim of this study is to investigate the impact of innovation on ...carbon emissions stemming from the transportation sector in Mediterranean countries. Based on the available data, Albania, Algeria, Bosnia and Herzegovina, Croatia, Egypt, Morocco, Tunisia, and Turkey are selected as the 8 developing countries; and Cyprus, France, Greece, Israel, Italy, and Spain are selected as the 6 developed countries and included in the analysis. Due to data constraints, the analysis period has been determined as 1997–2017 for the developing Mediterranean countries and 2003–2017 for the developed Mediterranean countries. After determining the long-term relationship with the panel co-integration method, we obtained the long-term coefficients with PMG and DFE methods. The empirical test results indicated that the increments in the level of innovation in developing countries have a positive impact on carbon emissions due to transportation if the innovation results from an increase in patents. An increase in the level of innovation in developed countries has a positive impact on carbon emissions due to transportation if the innovation results from an increase in trademark. As a result, innovation level has a positive effect on carbon emissions due to transportation, and this effect is stronger for developed countries.
Human capital investments have a vital role in economic growth. Therefore the effects of human capital on the environment should be analyzed for sustainable economic growth. This paper contributes to ...the debate on the nexus between human capital and environmental degradation. Based on 21 EU countries’ panel data over the period 1994–2018, this study aims to analyze the relationship between human capital and environmental pollution in different financial development levels. We employed the panel smooth transition regression model (PSTR) to assess the nexus between the variables. According to the estimation results, human capital decreases carbon emissions in the low growth regime whereas increases in the high growth regime. Besides, human capital increases carbon emissions in both low regimes of financial development and human capital, and decreases in high regimes. The analysis indicated that as human capital improves, there will be more innovation to protect the environment, and thus there is less environmental degradation.
•Impacts of human capital on environment as economy grows.•21 EU countries over the period 1994–2018.•Panel Smooth Transition Regression Model.•Human capital increases carbon emissions in both low regimes of financial development.•Human capital decreases carbon emissions in high regimes.
Natural resource-rich countries transfer more sources to military expenditures due to extreme security concerns. As public revenues have declined due to the decline in oil prices, military ...expenditures have been cut in many countries. Nevertheless, this is not valid for all countries. Even in some countries, despite the decrease in oil prices and volatility, military expenditures increase. The aim of this study is to investigate the relationship between volatility in oil prices and military expenditures in GCC countries (United Arab Emirates, Bahrain, Qatar, Kuwait, Saudi Arabia, and Oman). The analysis period was determined differently for each country depending on the availability of data. UAE and Qatar were excluded from the analysis as the defense expenditures data of these countries could not be provided regularly. ARDL model was preferred for the research. According to the bound test results, there is a cointegration relationship between the variables in all countries. Besides, the long-term results showed that the volatility in oil prices in all countries, except for Bahrain, positively affects military expenditures. The error correction model indicated that there is a reverse relationship between oil price volatility and military expenditures. These findings indicated that despite the volatility in oil prices, military expenditures in GCC countries are not reduced.
The efficient and sustainable use of resources has gained great importance in combating environmental threats and in keeping humanity out of resource scarcity. An effective way of monitoring and ...analyzing the state of ecological assets for sustainable resource policy is to understand the triggers of material consumption. To this end, this study follows a STIRPAT approach to reveal how domestic material consumption reacts to economic growth/income level, total factor productivity, human capital, population and globalization. Considering the transition effects of globalization, the study performs panel smooth transition regression on yearly data covering the 2000–2017 period for the 28 EU countries. Empirical results indicate that economic growth, total factor productivity and population increase material consumption when globalization level is below the threshold level. However, human capital decreases material usage. On the other hand, higher levels of globalization help to decrease material consumption and thus contribute to sustainable resource management.
•Investigates the non-linear effects of globalization on material consumption.•Follows the STIRPAT model augmented with control variables.•Conducts the panel smooth transition regression (PSTR).•Determines threshold values of globalization in terms of material usage.•Reveals that higher levels of globalization help to decrease material consumption.
Improving economic growth performance is largely dependent on financial development. Natural resource revenues are among the main sources that can be used in the development of financial systems. The ...aim of this study is to analyze the effects of each natural resource revenue on financial development in 16 developing countries (Albania, Argentina, Brazil, Bulgaria, China, Colombia, Georgia, Iran, Kazakhstan, Malaysia, Mexico, Peru, Romania, South Africa, Thailand, and Turkey) which gain different natural resources revenue using the data of 1994–2017 period. Panel cointegration analysis was used to investigate long-term relationships between series. Long-term relationships between the series were determined and then PMG and DFE methods were preferred to obtain long-term and short-term coefficients. Empirical results showed that an increase in oil revenues has a positive effect on financial development in the long term. However, in the short-term natural resources rents do not have an impact on financial development.
•The effects of natural resource revenues on financial development are investigated for 16 developing countries.•Oil rents, natural gas rents, coal rents, mineral rents and forest rents are preferred as natural resources revenues.•Panel cointegration analysis used to investigate long-term relationships, PMG and DFE methods used to obtain long-term and short-term coefficients.•While oil revenues have positive and significant effects on financial development in the long term, such an impact was not found in the short-term.
Global climate change brings environmental quality sensitivity, especially in developed countries. Developed countries use non-renewable energy sources intensively both in their own countries and in ...other countries, they make productions that cause an enormous rate of increase in CO2 emissions and unsustainable environmental costs. This has increased the interest in environmentally friendly alternative energy sources. The aim of this study is to investigate the impact of nuclear energy consumption and technological innovation on environmental quality in G7 countries using annual data over the period 1970–2015. The Panel Threshold Regression Model was used for the analysis. Empirical findings have indicated that the relationship between nuclear energy consumption and carbon emissions differs according to innovation for nuclear power plants. It was also concluded that nuclear energy consumption reduces carbon emissions more after a certain level of innovation. This result shows that the increase in innovative technologies for nuclear power plants not only increases energy efficiency but also contributes positively to environmental quality.
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