The “environment” has become one of the important and debatable topics of the world and policymakers identifying the new predictors of CO2 emissions. Therefore, some economies have been promoting ...fiscal decentralization to encourage environmental quality by granting more financial autonomy to provincial and sub-national governments. Therefore, this study evaluates the dynamic effect of fiscal decentralization on CO2 in selected nine Asian economies using a fresh dynamic panel ARDL model from 1984 to 2017. The empirical findings show that fiscal decentralization has asymmetric effects on CO2 emissions because a positive change in revenue and expenditure decentralization reduced CO2 emissions in Asia. Moreover, a negative change in expenditure decentralization has also enhanced CO2 emissions in the long run. Thus, clean environmental policies and recommendations can be revised and proposed based on nonlinear findings in the modern era.
Abstract
The present study empirically elucidates the interconnections between digitalization and FLFP in BRICS economies. Furthermore, we also assessed the influence of three essential economic ...indicators on FLFP, i.e., education, fertility and GDP. We used annual data from 1990 to 2020 and advanced panel estimation techniques such as Banerjee and Crrion-i-Selvestre cointegration, slope heterogeneity, and cross-sectional augmented autoregressive distributed lags model to effectuate these objectives. The study’s empirical results illustrate the existence of a positive interconnection between digitalization and FLFP in sample countries. In addition, education and GDP play an essential role in furthering FLFP in the long run. A similar interconnection is observed in the short period. However, the magnitude of the short-run impacts is smaller than the long-run impacts. The empirical analysis offers a few pertinent policy insights for policymakers to improve the situation in the selected sample.
Anthropogenic pollution due to inappropriate treatment of agricultural and industrial waste has been posing an ecological threats worldwide. However, an increasing pressure and demand for ...sustainability in farming, brought about the use of many hazardous chemicals and industrial wastes, such as the use of tannery sludge as an effective organic manure. This study was initiated as a follow up investigation to assess the potential ecological risk; the level of metal pollution in soil and Lycopersicon esculentum (L. esculentum) and its potentiality for in-situ phytoextraction in Hausawan - Kaba, Kano State, Nigeria. The suspected sludge, soil and plants grown in three different farms; farmland-1, farmland-2, and farmland-3 (control) in the study area were collected. The concentration of Chromium (Cr), Cadmium (Cd) and Lead (Pb) were spectrophotometrically detected. In addition, Bioaccumulation Factors (B.F), Pollution Index (P.I), Ecological Risk Index (ERI) and Potential Ecological Risk (PER) index of metals in three different sampling sites were calculated. The results indicated that PER value and concentration of metals in soil from farmland-1 is higher than that of farmland-2 and control site. Cd was observed to be the major contributor of ERI and had the highest average concentration in soil and plant samples. The results also showed that properties of soil such as pH, Cation Exchange Capacity (CEC), and organic matter content influenced the metal concentrations. Bioaccumulation Factor (B.F) > 1 observed for the plants manifested their phytoremediation potential. Therefore, the study concluded that based on the PER analysis, the study area is a potentially “low ecological risk” environment and the L. esculentum has a great potential to uptake large quantity of Cd, Pb and Cr in its root system; translocate to shoots and can be evidently used as hyperaccumulator for in-situ phytoextraction when cultivated in a soil contaminated with either Cr, Cd and/or Pb.
This study scrutinizes the impact of globalization, non-renewable energy consumption, and economic growth on CO2 emission for selected South Asian economies during 1985–2018 under the EKC framework. ...For this purpose, we apply a fully modified ordinary least square (FMOLS) technique. The empirical findings of this study identify that globalization is positively associated with CO2 emission. The results also indicate that non-renewable energy consumption increasing environmental pollution. Moreover, the results confirm the EKC hypothesis in the South Asian region; this means that at the early stages of development, when economic growth increases, environmental pollution also increases, but environmental degradation starts to decrease with the increases in economic growth after the threshold point. The empirical outcomes suggest that the government should subsidize and promote renewable energy sources to tackle the problem of environmental degradation.
•The impact of energy consumption and globalization on CO2 emission is studied.•A group of South Asian countries is covered.•The results supported the EKC hypothesis in South Asian countries.•Energy consumption is a significant source of CO2 emission.•Globalization is positively associated with CO2 emission.
COVID-19 affected the economies of both developed and developing countries through multiple channels. However, the impact of this pandemic was also not so different for the developed world too. This ...study aims to evaluate the effect of the natural resources’ rents such as oil, natural gas and energy rents on the economic performance of G7 economies from 1990 to 2020. This study uses updated panel data methods to identify the effect of COVID-19 by using novel diagnostic and unit root methods. The study found that during the COVID-19 and post pandemic, economic performance has been declined. This study found that natural resources rent, including oil and gas, help to improve the economic performance. Further, structural break for the year 2019 caused by COVID-19 also slowed down the economic performance of G7 economies. This study suggests more stabilization policies towards natural resources commodity prices and encouragement of active role from the G7 countries. This study further provides relevant policy implications in the concluding section for the selected group of countries.
•Commodity price volatility and economic growth in the Covid-19 era has been tested.•AMG and CCEMG has been employed on the panel of G7 economies.•Oil and natural gas rents increase economic performance.•Total natural resource rents and energy related inflation reduces economic growth.•Bidirectional causality has been confirmed among the variables.
Natural resources and economic growth nexus have been extensively investigated since the last three decades and still the debate is in progress. However, in the current times, natural resources ...prices volatility got importance as natural resources prices are playing crucial role in economic growth by regulating economic activities, which is relatively less studied. Natural resources price volatility and economic performance nexus have set new trends for scholars and policy-makers. Volatility in natural resources could have a detrimental impact on the economic performance of a country or region. In this regard, the current study aims to identify the relationship between them while considering the role of green innovation in the BRICS economies between 1990 and 2021. Employing the cross-sectionally augmented autoregressive distributive lags (CS-ARDL) approach, the results revealed that natural resource volatility, oil rents, natural gas rents, and green innovation positively influence the economic performance in both short-run and long-run. These results are found robust as verified by the long-run estimator augmented mean group (AMG). Besides, the Dumitrescu and Hurlin (2012) Granger panel causality heterogeneous test unveil a bidirectional causal association between the under discussion variables and economic performance. Based on the empirical findings, this study recommends that natural resources hedging, price freezing or ceiling, and promoting green innovation could be remedial measures to improve economic performance further and reduce natural resources price volatility in the region.
•Natural resource price volatility and BRICS′ economic performance is tested.•The role of green innovation has been empirically investigated.•The study employed CS-ARDL and AMG estimators.•Bidirectional causal association relation is found between the variables.•All the variables significantly promote economic performance in the region.
Abstract Digital financial inclusion (DFI) is creating dynamics in trade credit financing and trading environmentally through rapid growth of information and communication technology (ICT). ...Conversely, the empirical evidence is not available to validate the contribution of ICT and DFI in promoting trade in environmental goods. Hence, this research work is an attempt to unfold the nexuses of trade in environmental goods, DFI, and ICT globally in Asia, America, and Europe, respectively. The findings infer that DFI and ICT are the primary factors boosting trade in environmental goods globally, in Asia, America, and Europe, respectively. Furthermore, environmental pollution, economic development, and education are also uplifting the trading related to environmental goods in most regions. In the light of empirical estimates, it suggests that policymakers should give ICT infrastructure and digital connectivity priority investments to maintain the accessibility and effectiveness of environmental goods trading.
This paper aims to investigate the impact of social, economic, and political variables on per capita ecological footprint consumption in the NEXT Eleven economies over the period 1984- 2018. The ...study utilized the dynamic heterogeneous panel estimators of Cross-Sectionally Augmented Auto-regressive Distributive Lag (CS-ARDL) along with the estimator with a multifactor error structure. The study also estimated the cross-Sectionally augmented distributed lag (CS-DL) model while for robustness check the augmented mean group (AMG) and cross-Sectionally augmented error correction method (CS-ECM) is also considered. The study finding maintains that the impact of GDP per capita, multifaceted phenomena of financial development, and military expenditure is positive and significant suggesting that a unit increase in these variables deteriorates the environment in the NEXT Eleven economies. In contrast, higher life expectancy and government stability improve the environment in the long run. The findings of the study suggest that eco-friendly technologies to be used in the production process, as well as projects using outdated technologies, should be discouraged along with the assurance of government stability and reduction of military expenditure in the NEXT Eleven economies.
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