The effects of financial development, economic growth, coal consumption and trade openness on CO2 emissions in South Africa

Energy Policy ◽  
2013 ◽  
Vol 61 ◽  
pp. 1452-1459 ◽  
Author(s):  
Muhammad Shahbaz ◽  
Aviral Kumar Tiwari ◽  
Muhammad Nasir
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Co2 Emissions ◽  
Financial Development ◽  
Trade Openness ◽  
Development Economic ◽  
Coal Consumption

scholarly journals The Relation between Tourism and Economic Growth: A Case of Saudi Arabia as an Emerging Tourism Destination

2020 ◽  
Vol 3 (4) ◽  
pp. 29-47
Author(s):  
Lamia Jamel
Keyword(s):  
Economic Growth ◽  
Saudi Arabia ◽  
Granger Causality ◽  
Co2 Emissions ◽  
Financial Development ◽  
Positive Impact ◽  
Trade Openness ◽  
Granger Causality Test ◽  
Annual Data ◽  
Causality Test

This paper examines empirically the relation between tourism and economic growth in Saudi Arabia. The authors try to justify how tourism contributes to the economic growth of Saudi Arabia. There are applied descriptive statistics, unit root test, VAR model and Granger Causality test as an econometric methodology to examine the connection between tourism and economic growth in Saudi Arabia for the annual data in the period from 1990 to 2018. The main empirical results of the study find out that tourism affects positively the economic growth in Saudi Arabia. Also, there is found a positive nexus among tourism and economic growth. Furthermore, CO2 emissions and financial development impact positively the tourism sector, while trade openness predicts a negative effect on tourism. Additionally, CO2 emissions, financial development, and trade openness have a positive impact on economic growth in Saudi Arabia. Finally, the Granger causality test provides evidence of bidirectional nexus between tourism and economic growth in Saudi Arabia. This paper contributes to the current research by explaining the causal nexus among tourism and economic growth in Saudi Arabia during the period from 1990 to 2018, applying a vector autoregressive model and Granger Causality.

scholarly journals Financial Development and Economic Growth: The Case of Greek Economy

2018 ◽  
Vol 1 (2) ◽  
pp. 173
Author(s):  
Pavlos Stamatiou ◽  
Nikolaos Dritsakis
Keyword(s):  
Economic Growth ◽  
Granger Causality ◽  
Financial Development ◽  
Trade Openness ◽  
Cointegration Analysis ◽  
Development Economic ◽  
Causality Tests ◽  
Greek Economy ◽  
Causal Impact ◽  
Using Data

<p><em>This paper examines the relationship among financial development and economic growth, within a framework which also accounts trade openness, for the case of Greece using data covering the period 2001-2017. </em><em>We investigate this relationship using the Johansen and Juselius (1990) cointegration approach and the </em><em>V</em><em>ector </em><em>E</em><em>rror </em><em>C</em><em>orrection </em><em>M</em><em>odels (VECM), employing Granger causality technique, in order to explore the presence of causality among the variables. </em><em>The results of cointegration analysis suggested that there is one cointegrated vector among the functions of financial development, economic growth and trade openness. Granger causality tests have shown that there are unidirectional causalities running from economic growth to financial development as well as from financial development to trade openness. </em><em>The results support that financial development and trade openness do not have causal impact on economic growth in Greece, for the aforementioned period. On the other hand, economic growth has a causal impact on trade both directly and indirectly through financial development.</em><em></em></p>

scholarly journals Modelling Energy Consumption, Carbon Dioxide Emissions and Economic Growth Nexus in Ethiopia: Evidence from Cointegration and Causality Analysis

2018 ◽  
Vol 6 (6) ◽  
pp. 699 ◽  
Author(s):  
Shemelis Kebede Hundie
Keyword(s):  
Economic Growth ◽  
Energy Consumption ◽  
Co2 Emissions ◽  
Financial Development ◽  
Environmental Sustainability ◽  
Carbon Dioxide Emissions ◽  
Positive Impact ◽  
Trade Openness ◽  
Causality Analysis ◽  
The Impact

Policy makers need to know the relationship among energy use, economic growth and environmental quality in order to formulate rigorous policy for economic growth and environmental sustainability. This study analyzes the nexus among energy consumption, affluence, financial development, trade openness, urbanization, population and CO2 emissions in Ethiopia using data from 1970–2014. The ARDL cointegration results show that cointegration exists among the variables. Energy consumption, population, trade openness and economic growth have positive impact on CO2 in the long-run while economic growth squared reduces CO2 emissions which confirms that the EKC hypothesis holds in Ethiopia. In the short-run urbanization and energy consumption intensify environmental degradation. Toda-Yamamoto granger causality results indicate the bi-directional causality between energy consumption and CO2 emissions, CO2 emissions and urbanization. Financial development, population and urbanization cause economic growth while economic growth causes CO2 emissions. Causality runs from energy consumption to financial development, urbanization and population which in turn cause economic growth. From the result, CO2 emissions extenuation policy in Ethiopia should focus on environmentally friendly growth, enhancing consumption of cleaner energy, incorporating the impact of population, urbanization, trade and financial development.

Financial development, economic growth and millennium development goals in South Africa

2015 ◽  
Vol 42 (5) ◽  
pp. 459-479 ◽  
Author(s):  
Oludele Akinloye Akinboade ◽  
Emilie Chanceline Kinfack
Keyword(s):  
Economic Growth ◽  
South Africa ◽  
Financial Development ◽  
Millennium Development Goals ◽  
Financial Sector ◽  
Development Economic ◽  
Content Type ◽  
Financial Sector Development ◽  
Development Goals ◽  
The Relationship

Purpose – The purpose of this paper is to empirically report the findings on the relationship between financial sector development, economic growth and of millennium development goals (MDGs) for poverty reduction, education and health development in South Africa. Design/methodology/approach – The autoregressive distributed lag bounds testing technique was applied to two indicators of financial development, economic growth and four indicators of MDGs. Findings – Economic growth and MDGs jointly cause financial development. Similarly, economic growth and financial sector development jointly cause the attainment of MDGs. The attainment of MDGs such as increased per capita expenditure on food and education as well as economic growth jointly cause financial development. Practical implications – The findings highlight the complexity of the relationship between financial development, economic growth and MDGs. It is essential that the government of South Africa pursue a three track strategy of promoting financial sector development, economic growth and MDGs. The development of one strategy causes and is caused by the development of the other two. Originality/value – Relationships between financial development, economic growth and MDG targets are unsettled in the literature. This paper studies the link between the three variables in South Africa. Hence, the contribution of this study is to enrich the understanding of this important field in the context of an important African country.

scholarly journals Impact of Economic Growth, Financial Development, and Trade Openness on Environmental Degradation in Egypt

2020 ◽  
Vol 10 (1) ◽  
pp. 98-102
Author(s):  
Farman M. Ahmed ◽  
Dlawar M. Hadi ◽  
Aso K. Ahmed
Keyword(s):  
Economic Growth ◽  
Co2 Emissions ◽  
Financial Development ◽  
Trade Openness ◽  
Negative Influence ◽  
Vector Error Correction ◽  
Vector Error ◽  
Long Run ◽  
Short Run ◽  
Difference Form

This paper examines the effects of economic growth, financial development, and trade openness on the environment quality measured by CO2 emissions over the period of 1965–2014 in the case of Egypt. In this study, the series were stationary at their first difference form, and thus, a long-run model was adopted using the vector error correction model technique. The results confirm that the variables are cointegrated, indicating the long-run relationship between the variables. The empirical findings reveal a negative influence of economic growth and financial effect of the previous period of CO2 emissions, these effects are not significant in the short run. Any deviations from the long-run equilibrium return quickly, representing 59% speed of adjustment. The study proposes new policy insights into reduce CO2 emissions, especially in the long run.

scholarly journals FINANCIAL DEVELOPMENT, ENVIRONMENTAL QUALITY, TRADE OPENNESS AND ECONOMIC GROWTH: EMPIRICAL STUDY IN MENA COUNTRIES

2021 ◽  
Vol 9 (09) ◽  
pp. 920-931
Author(s):  
Sawssen Nafti
Keyword(s):  
Economic Growth ◽  
Co2 Emissions ◽  
Financial Development ◽  
Environmental Degradation ◽  
Environmental Quality ◽  
Trade Openness ◽  
Causal Link ◽  
Kuznets Curve ◽  
Economic Policies ◽  
Mena Countries

In this paper, we empirically investigate the causal relationship between financial development, environmental degradation (CO2 emissions), trade openness and economic growth (GDP), using Panel data (the theory of cointegration Pedroni (1999,2004)) for 12 MENA countries ( Middle East and North Africa) during the period 1990- 2014.The long-term relationships estimated by the modified least squares technique proposed by Pedroni (1996). Our results indicate that there is evidence for a bidirectionel causality between CO2 emissions and economic growth. Economic growth and trade openness are interdependent, it exist a bidirectionel causality. Also, we confirm a bidirectional causality among trade openness and financial development. The unidirectional causality of financial development on economic growth and openness to CO2 emissions trading is identified. Our empirical results also verified the existence of the environmental Kuznets curve hypothesis by the causal link between GDP and environmental polution. Finally, panel causality verifies the existance of bidirectional relationship between economic growth(GDP), environmental degradation(CO2 emissions), financial development and trade openness. This empirical knowledge is of particular interest to policy makers as it helps us create sound economic policies to support economic development and improve environmental quality.

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