Revealing heterogeneous causal links among financial development, construction industry, energy use, and environmental quality across development levels

2019 ◽  
Vol 27 (5) ◽  
pp. 4976-4996 ◽  
Author(s):  
Munir Ahmad ◽  
Gul Jabeen ◽  
Muhammad Khizar Hayat ◽  
Rana Ejaz Ali Khan ◽  
Shoaib Qamar
2018 ◽  
Vol 29 (2) ◽  
pp. 368-384 ◽  
Author(s):  
Javaid Ahmad Dar ◽  
Mohammad Asif

Purpose The purpose of this paper is to investigate the long-run effect of financial sector development, energy use and economic growth on carbon emissions for Turkey, in presence of possible regime shifts over a period of 1960-2013. Design/methodology/approach Along with the conventional unit root tests, Zivot-Andrews unit root test with structural break has been employed to check the stationarity of variables. The cointegrating relationship between variables is investigated by using the autoregressive distributed lag bounds test and Hatemi-J threshold cointegration test. Findings The results confirm a cointegrating relationship between the variables. The long-run relationship between the variables has gone through two endogenous structural breaks in 1976 and 1986. Development of financial sector improves environmental quality whereas energy use and economic growth degrade it. The results challenge the validity of environmental Kuznets curve hypothesis in Turkish economy. Research limitations/implications The study uses domestic credit to private sector as a proxy for development of financial sector. The model can be improved by constructing an index of financial development instead of using a single determinant as a proxy for financial development. Practical implications The study may pave the way for policy makers to capture important environmental pollutants in better way and develop effective and efficient energy and economic policies. This may make significant contribution to curbing CO2 emissions while sustaining economic growth. Originality/value This is the only study to examine long-run impact of financial sector development on carbon emissions, using the threshold cointegration approach. Hence, the study is a gentle request to reduce the possible omitted variable econometric estimation bias and fill the gap in the existing literature.


2020 ◽  
Vol 8 (2) ◽  
pp. 68
Author(s):  
Bilgehan Tekin

The purpose of this study to examine the relationship between financial development and human development in the health and welfare dimensions of developing countries. This study aims to determine whether the financial developments of the countries have an effect on the basic human development of the individuals and whether human development indicators have an impact on financial development. In this study, the relationship between financial development and human development has been tried to be revealed by using data obtained from developing countries. Financial development levels of the countries were measured with the developed financial development index. The index is calculated by using M3 / GDP, private sector loans / GDP and loans to banks from private sector / GDP ratios. The human development index is calculated by considering various health indicators and GNP per capita. The data includes annual data for the period 1970-2016. Pedroni and Kao cointegration analysis and Dumitrescu & Hurlin panel causality analysis were performed in the study. According to the results of the study, the cointegration relationship was determined between the two variables. There is also a two-way causality between the variables.


Energies ◽  
2021 ◽  
Vol 14 (15) ◽  
pp. 4593
Author(s):  
Katarzyna Cheba ◽  
Iwona Bąk

The main purpose of the paper is to present a proposal to measure the relationships between Goal 7 of the 2030 Agenda for Sustainable Development and one of the areas considered in the green growth concept: environmental production efficiency. Both of these areas illustrate the relationship between the natural environment and the economy, emphasizing transformations in the field of energy use. Selected taxonomic methods, TOPSIS, and multicriteria taxonomy, were applied to study the relationships between the two areas. The results of the EU countries classification showed a variety of countries’ development pathways within a single economic community. Despite continued attempts to equalize the development levels between European Union countries in many strategic areas, they remain highly diversified. That is also true for the areas analyzed in the paper, which is a disturbing situation, indicating that both strategies might not correlate in all respects. Further research into the relationships linking the remaining dimensions of both strategies is required.


2021 ◽  
Vol 13 (22) ◽  
pp. 12507
Author(s):  
Farrah Dina Abd Razak ◽  
Norlin Khalid ◽  
Mohd Helmi Ali

This paper aims to discover the asymmetry impacts and co-integration between gross domestic product, financial development, energy use and environmental degradation by featuring institutional quality covering the Malaysia economy during the period from 1984 until 2017 using a nonlinear auto-regressive distributed lag model. The results confirm the existence of the Environmental Kuznets Curve hypothesis for both linear and nonlinear analyses, thus verifying the relevance of symmetric and asymmetric EKC hypotheses for Malaysia. Further, this study verifies the attributes of financial development and institutional quality that mitigates the concern on CO2 emissions, but contradicting results were produced on energy use. The implication of this finding provides new guidelines for Malaysia authorities to consider the asymmetries in formulating environment-related policies to maintain environmental quality and achieve their sustainable development goals.


2018 ◽  
Vol 30 (4) ◽  
pp. 559-585 ◽  
Author(s):  
Saša Obradović ◽  
Nemanja Lojanica

The European Union has set the target that by 2020 harmful emissions and energy consumption should be reduced by 20% compared to the 1990s. This paper examines the impacts of environmental quality on two parameters of national competitiveness (exports and GDP per capita). The study focuses on the EU-15 countries and covers the period from 1960 to 2013. Even though the analyzed economies are developed countries which are the leaders in environment protection, they are still also the leading emitters of greenhouse gases. The paper uses traditional econometric techniques to test the relations between energy use, CO2 emissions, exports and GDP. The results show that the variables are co-integrated. In addition, energy-led growth hypothesis is valid in most of the analyzed economies. The results have also shown that increased CO2 emissions reduce economic activity and export performance. Finally, we will conclude that there are two tasks for future policy makers: first, to strengthen renewable-energy goals, and second, to adjust the economic structure towards less harmful emissions. In such circumstances, we could expect the economies to further develop clean technologies and to obtain their benefits for national competitiveness.


2015 ◽  
Vol 7 (7) ◽  
pp. 9395-9416 ◽  
Author(s):  
Shushu Li ◽  
Jinglan Zhang ◽  
Yong Ma

2022 ◽  
pp. 0958305X2110707
Author(s):  
Baris Memduh Eren ◽  
Salih Katircioglu ◽  
Korhan K. Gokmenoglu

This study conducts an empirical investigation about the moderating role of the informal economy on Turkey's environmental performance by employing advanced econometric techniques that account numerous structural breaks in series. In this extent, we created three interaction variables by captivating the impact of informal economic activities on CO2 emissions through income, energy use, and financial sector development. Besides, we built a main effect model without the interaction variables to assess the direct effects of our variables on global environmental degradation. The outcomes of the carried analyses produced supporting evidence toward the confirmation of the Environmental Kuznets Curve (EKC) assumption. Obtained findings shown that energy use, financial development and the informal economy in Turkey transmit a deteriorating impact on environmental well-being. Furthermore, the moderating role of the informal economy was found to be statistically significant factor in terms of both economic and environmental efficiency.


2016 ◽  
Vol 11 (4) ◽  
pp. 131-153 ◽  
Author(s):  
Mark Gorgolewski ◽  
Craig Brown ◽  
Anne-Mareike Chu ◽  
Adrian Turcato ◽  
Karen Bartlett ◽  
...  

Building performance evaluations (BPEs) were carried out for nine Canadian green buildings using a standardised assessment framework. The aim was to explore and measure the discrepancies between the operational performance of the buildings and their predicted performance, as well as to identify lessons for their owners, design teams and the construction industry. The objective of this paper is not to report individual buildings in detail (we refer the reader to the individual building reports) but to report on some general lessons that came from doing this study. Overall these buildings performed well compared to benchmarks. However, the findings suggest that occupancy is not well understood and often incorrectly predicted during design, and that this affects various aspects of performance, including energy and water use. Also energy and water use modelling is often undertaken principally for building code/green rating compliance purposes and does not necessarily represent an accurate prediction of likely operational use. Combined with variations in occupancy this can lead to considerable discrepancies in performance from the modelled values. This may be understood by experts but is often misleading to building owners and others. Water use is often not well predicted and also not carefully managed in buildings and there is a lack of understanding of what constitutes good water performance. Overall, it is important to recognise that each building has its own individual “story” that provides necessary context for effective management and improvement of the building during its ongoing life. It is proposed that a BPE process allows that context to be better understood, and enables more effective decision making about building management, improvements, occupant satisfaction, energy use, etc.


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