This article explores the challenges and opportunities for nation building in Nigeria in the context of the immediate aftermath of the 2023 elections, the twilight of the inauguration of the new ...administration, led by Senator Bola Ahmed Tinubu and the urgent need to address the critical issues of infrastructure deficit, palpable poverty, and inadequate access to basic services.
The article discusses the importance of international financing as a critical source of funding for sustainable development and highlights the importance of aligning national financing objectives with the United Nations' Sustainable Development Goals (SDGs). It emphasizes the need for clear development plans, coordination of risk mitigation mechanisms, cooperation of multilateral financial institutions and national and subnational committees and agencies, transparent legal and regulatory framework, as well as a robust judicial process, to attract international lenders and ensure effective deployment of financing towards the achievement of national development priorities.
•We explore the effect of environmental information disclosure on green technology innovation.•We use 289 prefecture level cities in China that allows us to open up new empirical evidence of the ...effects on green technology innovation.•We investigate the influence mechanism of pollution information transparency index (PITI) on green technology innovation.•The green innovation environment, pollution charges and industrial structure have been identified as mediator variables.•The foreign investment, government education and technology expenditure in terms of capital investment have been testified as moderator variables.
Environmental information disclosure is a dominant feature of good ecological environment construction, which reflects the emergence of social supervision. In this paper, we employ the Difference in Difference (DID) method, for 289 prefecture level cities in China that allows us to open up new empirical evidence of the effects on green technology innovation. The results indicate that disclosure of environmental information is more likely to promote green technologies, which is measured by green patent application. As substitute indicators, green patent of utility model and invention patent further confirm the result by robust test. To address the potential regional heterogeneity, we find eastern China might be the place where the above three green patent application have their most pronounced effects. Pollution Information Transparency Index (PITI) was designed to spur innovation, which also has been proved in our paper. Furthermore, green innovation environment, pollution charges and industrial structure have been identified as mediator variables, and foreign investment, government education and technology expenditure in terms of capital investment have been testified as moderator variables.
Developing renewable energy sector and upgrading energy structure have strategically important role in China's commitments against climate changes. Policymakers and authorities have put forward great ...efforts to make them happen. But one of the key constraints of China's energy revolution is financial issues, which is inevitably linking to the country's financial development. It is of great importance to understand how much financial development contributes to the renewable energy development in China, and more importantly what aspects of financial development matter. Through a time series analysis based on macro-level data, this paper provides clear evidence that financial development is critically important and contributes an overall of 42.42% to the variation of renewable energy growth. Specifically, we are able to demonstrate that capital market is the most important factor, followed by foreign investment. A simple comparison to the EU and the US cases indicates that the EU path is more relevant and should be studied more carefully by the Chinese policymakers.
•Effective policies are needed for upgrading energy structure to cope with climate changes.•Financial sector is critically important for China to development renewable energy.•Capital market has the most important impact followed by foreign investment.•The EU development path is more relevant to the energy revolution in China.
•Investigate the dynamic relationship between ICT, FDI, economic growth incorporating and globalization in BRICS.•Robust estimation techniques account to heterogeneity and cross-sectional dependence ...are applied.•Long-run elasticity’s found between FDI economic growth and globalization and economic growth.•Feedback hypothesis exists between globalization and economic growth.•Sensitivity analysis validated the main estimates.
In the modern era of globalization, information and communication technology (ICT) are considered key sectors that profoundly contribute to economic growth. Most of the economic activities, trade, and foreign direct investment are mainly dependent on modern sources of ICT. The objective of present research work is to investigate the dynamic relationship between ICT, foreign direct investment (FDI), economic growth incorporating trade and globalization for BRICS economies over 2000–2014 by employing OLS with fixed effects, the FMOLS, the DOLS and the group-mean estimator techniques robust to heterogeneity and cross-sectional dependence. Empirical results of the study suggest the long-run elasticities between ICT and economic growth, which suggests that ICT positively contributes to economic growth. Findings from long-run output elasticities show that both FDI and globalization have a long-run effect on economic growth. Furthermore, bi-directional causality exists between GDP and FDI, globalization and economic growth, and trade and economic growth. Also, unidirectional causality is running from globalization to trade. Globalization and ICT also Granger causes each other. Sensitivity analysis is employed to check whether findings of the study are valid and reliable for policy recommendation. The outcome of our study suggests policy recommendations for improving ICT with the focus on economic growth, trade openness and facilitation of foreign investment in BRICS countries.
China's carbon emissions have been ranking first in the world. This study filled in the gaps in research, decomposed carbon intensity from the perspective of time, space and industry. A decoupling ...effort model based on factor decomposition models was constructed to analyze the driving factors of carbon emissions and economic decoupling, which builded a foundation for achieving sustainable economic development. Using the Logarithmic Mean Divisia Index method (LMDI), the paper measured the carbon emission intensity of 29 provinces and cities in China from 1998 to 2019, and decomposed the decoupling effect between GDP and carbon emission on the basis of factor decomposition by tapio. The results showed that: (1) Carbon intensity declined first, then rise lightly, and finally declined steadily. For the primary industry and the tertiary industry, the carbon intensity declined steadily, while the carbon intensity increased accordingly to the overall carbon intensity. In terms of spatial evolution, the regional differences between different provinces decreased correspondingly. (2) The cumulative contribution rates of these three effects, i.e., technological progress, industrial structure and regional scale were 106.3299%, −15.1486% and 8.8188%, respectively. There were obvious differences of these cumulative contribution rates of carbon intensity among different provinces. (3) From the perspective of industrial, technological progress effect is the largest contribution for carbon intensity in the secondary industry. The Industrial structure effect mainly affects the primary and tertiary industries; and no significant difference in regional scale effect. (4) The decoupling effect gradually improved, and technological progress has played an absolute leading role in promoting the decoupling effect. Based on the research results, the key policy recommendation are put forward as follows: (1) Further improve the technological level and support clean technology enterprises. (2) Promote industrial upgrading in backward industrial provinces (3) Promote regional assistance and the introduction of high-quality foreign investment.
•A decoupling effort model built based on the Logarithmic Mean Divisia Index model.•Carbon intensity declined first, then rise lightly, and finally declined steadily.•Technological progress effect dominates the carbon intensity and decoupling effect.•Industrial structure effect mainly affects the primary and tertiary industries.
Ensuring global access to COVID-19 vaccines Yamey, Gavin; Schäferhoff, Marco; Hatchett, Richard ...
The Lancet (British edition),
05/2020, Volume:
395, Issue:
10234
Journal Article
Peer reviewed
Open access
CEPI estimates that developing up to three vaccines in the next 12–18 months will require an investment of at least US$2 billion.4 This estimate includes phase 1 clinical trials of eight vaccine ...candidates, progression of up to six candidates through phase 2 and 3 trials, completion of regulatory and quality requirements for at least three vaccines, and enhancing global manufacturing capacity for three vaccines. In addition to direct government contributions, innovative finance mechanisms have been successful in raising funds for vaccines in the past and should be used to fund the development of COVID-19 vaccines.8,9 The International Finance Facility for Immunisation (IFFIm) raises funds with vaccine bonds, which turn long-term contributions by donors into available cash.8 IFFIm was created to support Gavi, the Vaccine Alliance, but could be used to finance CEPI's COVID-19 vaccine efforts. Investments should proceed in tandem to build national systems for delivery of potential vaccines—eg, using domestic financing and external financing from the World Bank Group's $14 billion COVID-19 Fast Track Facility13 and reallocations from the Global Fund to Fight AIDS, Tuberculosis and Malaria, Gavi, and Global Financing Facility grants for service delivery.
Foreign direct investment can be a way to promote modern energy-efficient technology in Belt & Road countries, and this aspect has yet to be explored. Therefore, we set three simultaneous equations ...to determine the role of foreign direct investment inflow, technological innovations, natural resources, population density on biomass energy consumption, and ecological footprint. We applied a novel panel algorithm, cross-sectionally augmented Autoregressive Distributed Lags, and Driscoll & Kraay methods for 52 Belt & Road panel countries from 1992 to 2017, which provides a more robust analysis by controlling spatial dependency and heterogeneity. The empirical results depict that biomass energy consumption improves the environment of the Belt & Road region, as ecological footprint and biomass energy consumption yielded a negative relationship. However, FDI supports the ‘Pollution Haven’ hypothesis for the Belt & Road economies. The results further infer that the ecological footprint can be lowered in the economies by technological advancement. From the policy perspective, our findings suggest that policymakers in Belt & Road economies should devise comprehensive foreign investment and modern biomass energy policies aiming at cleaner industrial practices that ensure environmental sustainability.
•Biomass Energy, foreign direct investment and ecological footprint are examined.•Biomass energy consumption lowers the ecological footprint.•Foreign direct investment does not improve the environment in Belt & Road region.•The ‘Pollution Haven’ Hypothesis is validated for the region.•Technological advancements improve the environment in Belt & Road economies.
•Belt and Road initiative encourages Chinese outward foreign direct investment (OFDI).•Chinese OFDI produces technology spillovers for Belt and Road host Countries.•Productivity spillovers from ...Chinese OFDI decrease with the increase in Tecnology gap.•Relatively underdeveloped countries were unable to catch FDI spillovers.
The Belt and Road Initiative (BRI) is driving the rapid growth of China's outward foreign direct investment (OFDI) across the BRI region. Many BRI host countries, which are developing or underdeveloped in nature, are embracing higher Chinese OFDI in the hope of improving their productivity, trade, and infrastructure. Unlike traditional models, which assumes that foreign investment stimulates productivity growth by generating technological diffusion from the developed world to the developing economies, it is argued that whether China, as a developing country, has sufficient technological capabilities to generate technological spillovers for developing BRI host countries, and what is the role of technology gap to catch up these spillovers. In doing so, this study examines the impact of Chinese OFDI-induced technology spillovers on total factor productivity growth conditional on technology gap between China and BRI host countries. This study employs System Generalized Method of Moments and Feasible Generalized Least Squares estimators and provides two key findings. First, Chinese OFDI increases the productivity growth of BRI host countries; however, the productivity spillovers are lower in magnitude across all specifications. Second, the productivity spillovers from Chinese OFDI decrease with the increase in technology gap, and after a certain threshold, these spillovers become less pronounced.
The Commission aims to offer practical solutions to the four main global challenges posed by the pandemic: suppressing the pandemic by means of pharmaceutical and non-pharmaceutical interventions; ...overcoming humanitarian emergencies, including poverty, hunger, and mental distress, caused by the pandemic; restructuring public and private finances in the wake of the pandemic; and rebuilding the world economy in an inclusive, resilient, and sustainable way that is aligned with the Sustainable Development Goals (SDGs) and the Paris Climate Agreement. Data needs The UN Statistical Commission, working with partner UN institutions and with national statistical agencies, should prepare near-real-time data on highly vulnerable populations and their conditions, with a special focus on infection and death rates, poverty, joblessness, mental health, violence, hunger, forced labour, and other forms of extreme deprivation and abuses of human rights. The situation for developing countries will become increasingly dire as many countries find themselves facing rising social needs without the means to finance social services. ...many developing countries currently do not have the kinds of social protection programmes that are most urgently needed at this juncture, such as unemployment insurance, income support, and nutrition support. Some developing countries will require considerable international concessional financing (ie, grants and low-interest, long-term loans) from the international financing institutions, notably the International Monetary Fund, the World Bank, and the multilateral and regional development banks, as well as the orderly restructuring of their sovereign debts to both public and private creditors.
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