In this article, we investigate the causality links between CO2 emissions, foreign direct investment, and economic growth using dynamic simultaneous-equation panel data models for a global panel of ...54 countries over the period 1990–2011. We also implement these empirical models for 3 regional sub-panels: Europe and Central Asia, Latin America and the Caribbean, and the Middle East, North Africa, and sub-Saharan Africa. Our results provide evidence of bidirectional causality between FDI inflows and economic growth for all the panels and between FDI and CO2 for all the panels, except Europe and North Asia. They also indicate the existence of unidirectional causality running from CO2 emissions to economic growth, with the exception of the Middle East, North Africa, and sub-Sahara panel, for which bidirectional causality between these variables cannot be rejected. These empirical insights are of particular interest to policymakers as they help build sound economic policies to sustain economic development.
•We examine the causal links between carbon emissions, FDI, and economic growth.•Dynamic simultaneous-equation panel data models are used to address this issue.•We find evidence of bidirectional causality between CO2 emissions and FDI inflows.•Similar results are obtained for economic growth and FDI inflows, except one panel.•CO2 emissions significantly affect economic growth for most panels of countries.
•We study the impact of economic policy uncertainty on stock markets in the US over 1900–2014.•We show that an increase in policy uncertainty reduces significantly stock returns.•We show that this ...effect is stronger and persistent during extreme volatility periods.
We contribute to the literature by studying the impact of economic policy uncertainty on stock markets in the United States over the period 1900–2014. We show that an increase in policy uncertainty reduces significantly stock returns and that this effect is stronger and persistent during extreme volatility periods.
This paper investigates the key factors affecting household energy expenditure in Egypt. Based upon the latest 2015 Egyptian HIECS Survey, we develop a quantile regression model with an innovative ...variable selection approach via the adaptive lasso regularization technique to untangle the spectrum of household energy expenditure. Unsurprisingly, income, age, household size, housing size, and employment status are salient predictors for energy expenditure. Housing characteristics have a moderate impact, while socio-economic attributes have a much larger one. The most significant variations in household energy expenditures in Egypt are mainly due to variations in income, household size, and housing type. Our findings document substantial differences in household energy expenditure, originating from the asymmetric tails of the energy expenditure distribution. This outcome highlights the added value of implementing quantile regression methods. Our empirical results have various interesting policy implications regarding residential energy efficiency and carbon emissions reduction in Egypt. It proposes that targeting policies to specific households can improve the effectiveness of energy efficiency policies. These policies could combine both supply-side interventions, such as reducing energy services’ cost and demand-side policies for energy-intensive consumers.
This article extends the recent findings of Liu (2005), Ang (2007), Apergis et al. (2009) and Payne (2010) by implementing recent bootstrap panel unit root tests and cointegration techniques to ...investigate the relationship between carbon dioxide emissions, energy consumption, and real GDP for 12 Middle East and North African Countries (MENA) over the period 1981–2005. Our results show that in the long-run energy consumption has a positive significant impact on CO2 emissions. More interestingly, we show that real GDP exhibits a quadratic relationship with CO2 emissions for the region as a whole. However, although the estimated long-run coefficients of income and its square satisfy the EKC hypothesis in most studied countries, the turning points are very low in some cases and very high in other cases, hence providing poor evidence in support of the EKC hypothesis. CO2 emission reductions per capita have been achieved in the MENA region, even while the region exhibited economic growth over the period 1981–2005. The econometric relationships derived in this paper suggest that future reductions in CO2 emissions per capita might be achieved at the same time as GDP per capita in the MENA region continues to grow.
► We study the links between CO2 emissions, energy consumption and GDP in MENA region. ► Energy consumption has a positive correlation with CO2 emissions. ► GDP exhibits a quadratic relationship with CO2 emissions for the region as a whole. ► However, the turning points are low in some cases and high in other cases. ► Thus, not all countries need to sacrifice economic growth to decrease CO2 emissions.
This paper develops a pseudo-panel approach to examine household electricity demand behavior through the household life cycle and its response to income variations to help strengthen the energy ...policy-making process. Our empirical methodology is based on three rich independent microdata surveys (the National Housing Surveys), which are representative of the French housing sector. The resulted sample covers the 2006–2016 period. Using within estimations, this paper finds striking evidence that the income elasticity of French residential electricity demand is 0.22, averaged over our four cohorts of generations. In light of other works, our estimate stands in the lower range. The empirical results also show that residential electricity consumption follows an inverted U-shaped distribution as a function of the age of the household’s head. Most notably, it appears that households at the mid-point of their life cycle are relatively the largest consumers of electricity. This outcome has important implications for policy-making. Any public policy aimed at reducing household energy consumption should consider this differentiation in consumption according to the position of households over the life cycle, and therefore target as priority households at the highest level of consumption.
This paper examines the causality relationship between immigration, unemployment and economic growth of the host country. We employ the panel Granger causality testing approach of Kònya (2006) that ...is based on SUR systems and Wald tests with country specific bootstrap critical values. This approach allows one to test for Granger-causality on each individual panel member separately by taking into account the contemporaneous correlation across countries. Using annual data over the 1980–2005 period for 22 OECD countries, we find that, only in Portugal, unemployment negatively causes immigration, while in any country, immigration does not cause unemployment. On the other hand, our results show that, in four countries (France, Iceland, Norway and the United Kingdom), growth positively causes immigration, whereas in any country, immigration does not cause growth.
•Our study provides evidence that immigration does not cause host economic conditions.•It also shows that host economic condition effect depends on the host country.•It also indicates that immigration flows do not harm resident employment prospect.
Background
Sleep had never been assessed immediately after extubation in patients still in the ICU. However, sleep deprivation may alter respiratory function and may promote respiratory failure. We ...hypothesized that sleep alterations after extubation could be associated with an increased risk of post-extubation respiratory failure and reintubation. We conducted a prospective observational cohort study performed at the medical ICU of the university hospital of Poitiers in France. Patients at high-risk of extubation failure (> 65 years, with any underlying cardiac or lung disease, or intubated > 7 days) were included. Patients intubated less than 24 h, with central nervous or psychiatric disorders, continuous sedation, neuroleptic medication, or uncooperative were excluded. Sleep was assessed by complete polysomnography just following extubation including the night. The main objective was to compare sleep between patients who developed post-extubation respiratory failure or required reintubation and the others.
Results
Over a 3-year period, 52 patients had complete polysomnography among whom 12 (23%) developed post-extubation respiratory failure and 8 (15%) required reintubation. Among them, 10 (19%) had atypical sleep, 15 (29%) had no deep sleep, and 33 (63%) had no rapid eye movement (REM) sleep. Total sleep time was 3.2 h in median interquartile range, 2.0–4.4 in patients who developed post-extubation respiratory failure vs. 2.0 1.1–3.8 in those who were successfully extubated (
p
= 0.34). Total sleep time, and durations of deep and REM sleep stages did not differ between patients who required reintubation and the others. Reintubation rates were 21% (7/33) in patients with no REM sleep and 5% (1/19) in patients with REM sleep (difference, − 16% 95% CI − 33% to 6%;
p
= 0.23).
Conclusions
Sleep assessment by polysomnography after extubation showed a dramatically low total, deep and REM sleep time. Sleep did not differ between patients who were successfully extubated and those who developed post-extubation respiratory failure or required reintubation.
Although financial inclusion would induce greater pollutant emissions through economic activity, improved access to financial services may facilitate investment in clean technologies. This study ...investigates whether financial inclusion has influenced the dynamics of carbon dioxide (CO2) emissions over the last decade using a sample of 70 countries. We implement panel threshold techniques to explore possible regime shifts in environmental quality. Our results reveal that the influence of increased financial access on air pollution depends on the economic development stage. While financial inclusion can increase CO2 emissions in lower-income regimes, environmental quality appears to be enhanced, with more inclusiveness at later developmental stages. Less-developed countries require more robust environmental policies to align their financial inclusion initiatives with sustainable economic development.
•We investigate financial inclusion's impact on CO2 emission dynamics.•Panel threshold regression techniques are applied.•There is a threshold effect in the finance access-carbon emissions relationship.•Financial access aids environment only when GDP per capita exceeds this threshold.•Less-developed countries must align financial inclusion with sustainable development.
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