Energy mix outlook and the EKC hypothesis in BRICS countries: a perspective of economic freedom vs. economic growth

2021 ◽  
Author(s):  
Seyi Saint Akadırı ◽  
Andrew Adewale Alola ◽  
Ojonugwa Usman
Keyword(s):  
Economic Growth ◽  
Economic Freedom ◽  
Ekc Hypothesis ◽  
Energy Mix ◽  
Brics Countries

scholarly journals Revisiting the Environmental Kuznets Curve Hypothesis: A Case of Central Europe

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3415
Author(s):  
Bartosz Jóźwik ◽  
Antonina-Victoria Gavryshkiv ◽  
Phouphet Kyophilavong ◽  
Lech Euzebiusz Gruszecki
Keyword(s):  
Economic Growth ◽  
Co2 Emissions ◽  
Central Europe ◽  
Environmental Kuznets Curve ◽  
European Countries ◽  
Kuznets Curve ◽  
The European Union ◽  
Ekc Hypothesis ◽  
Central European ◽  
Long Run

The rapid economic growth observed in Central European countries in the last thirty years has been the result of profound political changes and economic liberalization. This growth is partly connected with reducing carbon dioxide (CO2) emissions. However, the problem of CO2 emissions seems to remain unresolved. The aim of this paper is to test whether the Environmental Kuznets Curve (EKC) hypothesis holds true for Central European countries in an annual sample data that covers 1995–2016 in most countries. We examine cointegration by applying the Autoregressive Distributed Lag bound testing. This is the first study examining the relationship between CO2 emissions and economic growth in individual Central European countries from a long-run perspective, which allows the results to be compared. We confirmed the cointegration, but our estimates confirmed the EKC hypothesis only in Poland. It should also be noted that in all nine countries, energy consumption leads to increased CO2 emissions. The long-run elasticity ranges between 1.5 in Bulgaria and 2.0 in Croatia. We observed exceptionally low long-run elasticity in Estonia (0.49). Our findings suggest that to solve the environmental degradation problem in Central Europe, it is necessary to individualize the policies implemented in the European Union.

scholarly journals Does Green Energy Complement Economic Growth for Achieving Environmental Sustainability? Evidence from Saudi Arabia

2020 ◽  
Vol 13 (1) ◽  
pp. 180
Author(s):  
Montassar Kahia ◽  
Anis Omri ◽  
Bilel Jarraya
Keyword(s):  
Economic Growth ◽  
Saudi Arabia ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Environmental Sustainability ◽  
Least Square ◽  
Ekc Hypothesis ◽  
Renewable Energy Consumption ◽  
Ordinary Least Square

This study extends previous environmental sustainability literature by investigating the joint impact of economic growth and renewable energy on reducing CO2 emissions in Saudi Arabia over the period 1990–2016. Using the fully modified ordinary least-square (FMOLS) and dynamic ordinary least-square DOLS estimators, we find that economic growth increases CO2 emissions in all estimated models. Moreover, the validity of the environmental Kuznets curve (EKC) hypothesis is only supported for CO2 emissions from liquid fuel consumption. The invalidity of the EKC hypothesis in the most commonly used models implies that economic growth alone is not sufficient to enhance environmental quality. Renewable energy is found to have a weak influence on reducing the indicators of environmental degradation. We also find that the joint impact of renewable energy consumption and economic growth on the indicators of CO2 emissions is negative and insignificant for all the estimated models, meaning that the level of renewable energy consumption in Saudi Arabia is not sufficient to moderate the negative effect of economic growth on environmental quality. Implications for policy are also discussed.

scholarly journals Dominance of Fossil Fuels in Japan’s National Energy Mix and Implications for Environmental Sustainability

2021 ◽  
Vol 18 (14) ◽  
pp. 7347
Author(s):  
Tomiwa Sunday Adebayo ◽  
Abraham Ayobamiji Awosusi ◽  
Seun Damola Oladipupo ◽  
Ephraim Bonah Agyekum ◽  
Arunkumar Jayakumar ◽  
...  
Keyword(s):  
Economic Growth ◽  
Sustainable Development ◽  
Natural Gas ◽  
Co2 Emissions ◽  
Environmental Sustainability ◽  
Least Square ◽  
Kuznets Curve ◽  
Gas Oil ◽  
Energy Mix ◽  
Ordinary Least Square

Despite the drive for increased environmental protection and the achievement of the Sustainable Development Goals (SDGs), coal, oil, and natural gas use continues to dominate Japan’s energy mix. In light of this issue, this research assessed the position of natural gas, oil, and coal energy use in Japan’s environmental mitigation efforts from the perspective of sustainable development with respect to economic growth between 1965 and 2019. In this regard, the study employs Bayer and Hanck cointegration, fully modified Ordinary Least Square (FMOLS), and dynamic ordinary least square (DOLS) to investigate these interconnections. The empirical findings from this study revealed that the utilization of natural gas, oil, and coal energy reduces the sustainability of the environment with oil consumption having the most significant impact. Furthermore, the study validates the environmental Kuznets curve (EKC) hypothesis in Japan. The outcomes of the Gradual shift causality showed that CO2 emissions can predict economic growth, while oil, coal, and energy consumption can predict CO2 emissions in Japan. Given Japan’s ongoing energy crisis, this innovative analysis provides valuable policy insights to stakeholders and authorities in the nation’s energy sector.

Brazil and Russia: Different Trajectories of Development?

2012 ◽  
pp. 92-104
Author(s):  
G. Irishin
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Social Development ◽  
Brics Countries ◽  
Long Run ◽  
Main Emphasis ◽  
The World

This publication represents the materials of the regular academic seminar “The current problems of development” conducted by the Center of the problems of development and modernization within IMEMO. The attention of the key speakers and other seminar participants is focused on the comparison of the two BRICS countries – Brazil and Russia. The main emphasis is made on the analysis of the trends of social development. The point is that the quality of human capital determines the quality of economic growth, as well as the country's place in the world in the long run.

scholarly journals Foreign Direct Investment, Economic Freedom and Economic Growth: Evidence from Developing Countries

2016 ◽  
Vol 8 (11) ◽  
pp. 200 ◽  
Author(s):  
Md. Shakib Hossain
Keyword(s):  
Economic Growth ◽  
Developing Countries ◽  
Foreign Direct Investment ◽  
Standard Deviation ◽  
Poisson Regression ◽  
Direct Investment ◽  
Economic Freedom ◽  
Random Effect ◽  
Estimating Equation ◽  
Generalized Estimating Equation

<p class="Default">This paper has explores the interplay between economic freedom, foreign direct investment and economic growth using panel data analysis for a sample of 79 developing countries from 1998 to 2014 by considering the level of economic freedom, as provided by the “Heritage Foundation”. Panel unit root, pedroni residual co-integration test, generalized least square (GLS), feasible GLS (FGLS), pooled OLS, random effect, fixed effect, poisson regression, prais-winsten, generalized method of movement (GMM) and generalized estimating equation (GEE) methods have used to estimates the relationship. According to the OLS and generalized method of movement the coefficient implies that a one standard deviation improvement in business freedom, trade freedom, size, investment freedom, property rights, freedom from corruption, labor freedom, financial freedom, fiscal freedom, monetary freedom increases FDI by 21.4%, 15.6%, 21.6%, 17.5%, 11.55, 9.1%, 6.9%, 8.5%, 7.4%, 10.3% and 56.1%, 45.3%, 58.3%, 51.6%, 33.7%, 39.2%, 47.4%, 41.6%, 32.5%, 38.5% points respectively and  for the economic variable ,the coefficient implies that a one standard deviation improvement in GDPG and GDPPC increases FDI by 24.1%, 17.4% and 30.2%, 33.4% points respectively. By using the other method like random effect, fixed effect, poisson regression, prais-winsten and generalized estimating equation (GEE) method explores that economic freedom in the host country is a positive determinants of FDI inflows in developing countries and also the result suggests that foreign direct investment is positively correlated with the economic growth in the host countries.</p>

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