scholarly journals Linking economic globalization, economic growth, financial development, and ecological footprint: Evidence from symmetric and asymmetric ARDL

2021 ◽  
Vol 121 ◽  
pp. 107060 ◽  
Author(s):  
Zahoor Ahmed ◽  
Bin Zhang ◽  
Michael Cary
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Ecological Footprint ◽  
Economic Globalization

scholarly journals Does financial development reinforce ecological footprint in singapore? Evidence from ardl and bayesian analysis

2021 ◽  
Author(s):  
Bui Hoang Ngoc ◽  
ashar awan
Keyword(s):  
Economic Growth ◽  
Human Capital ◽  
Bayesian Analysis ◽  
Financial Development ◽  
Ecological Footprint ◽  
Development Economic ◽  
Distributed Lag ◽  
Sound Policy ◽  
The Cost ◽  
The Impact

Abstract Singapore has been ranked in the most dynamic financial market and the highest ecological deficit country, indicating that the trade-off hypothesis may exist. The main goal of the present study is to probe the impact of financial development, economic growth, and human capital on ecological footprint in Singapore from 1980 to 2016. The outcomes obtained from the Auto Regressive Distributed Lag (ARDL) method have failed to provide a clear impact of financial sector development on ecological footprint. However, the Bayesian analysis reveals that both financial development and economic growth have a harmful influence on EF, while the impact of human capital is beneficial. A theoretical conclusion derived is that monetary expansion policies should be associated with improving human capital to achieve the United Nations SDGs in the context of Singapore. The findings of the study are of particular interest to policymakers for developing sound policy decisions for sustainable economic progress which is not at the cost of environment.

scholarly journals Ecological Footprint, Public-Private Partnership Investment in Energy and Financial Development in Brazil: A Gradual Shift Causality Approach

2021 ◽  
Author(s):  
Gbenga Daniel Akinsola ◽  
Abraham Ayobamiji Awosusi ◽  
Dervis Kirikkaleli ◽  
Sukru Umarbeyli ◽  
Ibrahim Adeshola ◽  
...  
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Financial Development ◽  
Ecological Footprint ◽  
Private Investment ◽  
Low Carbon ◽  
Causality Test ◽  
Public And Private ◽  
Gradual Shift ◽  
The Impact

Abstract The present study aims to close this gap in the literature by exploring the effect of public-private partnerships in energy and financial development on Brazil’s ecological footprint by considering the impact of renewable energy and economic growth using data spanning from 1983 to 2017. The study utilized several techniques such as ARDL, FMOLS, DOLS, and CCR to examine the relationship between ecological footprint and the determinants, while the Gradual shift causality test was utilized to capture the causal linkage between the series in the presence of structural break. The outcome of the Maki Cointegration test revealed evidence of a long-run association among the variables of interest. Furthermore, the results of the ARDL, FMOLS, DOLS, and CCR tests revealed that economic growth and public and private investment in energy increase environmental degradation while both renewable energy and financial development mitigates it. Moreover, the Gradual shift causality test revealed a bidirectional causal linkage between ecological footprint and economic growth. The present study recommends establishing a forum that will foster public and private partnerships to enhance communication, which will create collaboration for new initiatives for green technological innovations. Additionally, the financial market can be assisted by the government by formulating a framework that would promote low carbon technology development.

scholarly journals The Dynamic Impact of Natural Resource Rents, Financial Development, and Technological Innovations on Environmental Quality: Empirical Evidence from BRI Economies

2021 ◽  
Vol 19 (1) ◽  
pp. 130
Author(s):  
Siming Zuo ◽  
Mingxia Zhu ◽  
Zhexiao Xu ◽  
Judit Oláh ◽  
Zoltan Lakner
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Environmental Quality ◽  
Natural Resource ◽  
Low Income ◽  
Ecological Footprint ◽  
Technological Innovations ◽  
Middle Income ◽  
Resource Rents ◽  
Natural Resource Rents

Until recently, many countries’ policies were motivated by economic growth; however, few strategies were developed to prevent environmental deterioration including reducing the ecological footprint. In this context, the purpose of this study was to analyze the role of natural resource rents, technological innovation, and financial development on the ecological footprint in 90 Belt and Road Initiative (BRI) economies. This research divided the BRI economies into high income, middle-income, and low-income levels to capture income differences. This research used the second-generation panel unit root, cointegration, and augmented mean group estimators to calculate the robust and reliable outcomes. Based on the annual data from 1991 to 2018, the findings show that natural resource rents drastically damage the quality of the environment, whereas technological innovations are helpful in reducing ecological footprint. Moreover, the outcome of the interaction term (natural resource rents and technological innovations) negatively impacts the ecological footprint. Interestingly, these findings were similar in the three income groups. In addition, financial development improved environmental quality in the middle-income BRI economies, but reduced it in high-income, low-income, and full sample countries. Furthermore, the Environmental Kuznets Curve (EKC) concept has been validated across all BRI economies. Policymakers in BRI countries should move resources away from resource-rich sectors of industries/manufacturing sectors to enhance/promote economic growth and use these NRRs efficiently for a progressive, sustainable environment. Based on these findings, several efficient policy suggestions are proposed.

Remittances, Economic Growth and Poverty: A Case of African OIC Member Countries

2018 ◽  
Vol 57 (2) ◽  
pp. 121-143
Author(s):  
Nasim Shah Shirazi ◽  
Sajid Amin Javed ◽  
Dawood Ashraf
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Poverty Reduction ◽  
Simultaneous Equation ◽  
Equation Model ◽  
Annual Data ◽  
Simultaneous Equation Model ◽  
African Countries ◽  
Alternative Source ◽  
The Impact

This paper investigates the impact of remittance inflows on economic growth and poverty reduction for seven African countries using annual data from 1992-2010. By using the depth of hunger as a proxy for poverty in a Simultaneous Equation Model (SEM), we find that remittances have statistically significant growth enhancing and poverty reducing impact. Drawing on our estimates, we conclude that financial development level significantly increases the remittances inflows and strengthens poverty alleviating impact of remittances. Results of our study further show a signficant interactive imapct of remittances and finacial develpment on economic growth, suggesting the substitutability between remittance inflows and financial development. We further find that 3 percentage point increase in credit provision to the private sector (financial development) can help eliminate the severe depth of hunger in the region. Remittances, serving an alternative source of private credit, can be effective in this regard. Keywords: Remittance Inflow, Poverty Alleviation, Financial Development, Simultaneous Equation Model

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