Environmental Kuznets Curve for sulfur: evidence using GMM estimation and random coefficient panel data models

2003 ◽  
Vol 8 (4) ◽  
pp. 581-601 ◽  
Author(s):  
George E. Halkos
Keyword(s):  
Panel Data ◽  
Generalized Method Of Moments ◽  
Random Coefficients ◽  
Environmental Damage ◽  
Kuznets Curve ◽  
Random Effects Models ◽  
Econometric Methods ◽  
Fixed And Random Effects ◽  
First Time ◽  
Sulfur Emissions

The purpose of this study is to test empirically the hypothesis of the inverted U-shaped relationship between environmental damage from sulfur emissions and economic growth as expressed by GDP. Using a large database of panel data consisting of 73 OECD and non-OECD countries for 31 years (1960–1990) we apply for the first time random coefficients and Arellano-Bond Generalized Method of Moments (A–B GMM) econometric methods. Our findings indicate that the EKC hypothesis is not rejected in the case of the A–B GMM. On the other hand there is no support for an EKC in the case of using a random coefficients model. Our turning points range from $2805–$6230/c. These results are completely different compared to the results derived using the same database and fixed and random effects models.

scholarly journals Non-Negativity of a Quadratic form with Applications to Panel Data Estimation, Forecasting and Optimization

Stats ◽  
2020 ◽  
Vol 3 (3) ◽  
pp. 185-202
Author(s):  
Bhimasankaram Pochiraju ◽  
Sridhar Seshadri ◽  
Dimitrios Thomakos ◽  
Konstantinos Nikolopoulos
Keyword(s):  
Panel Data ◽  
Random Effects ◽  
Symmetric Matrix ◽  
Panel Data Models ◽  
Random Effects Models ◽  
Panel Data Estimation ◽  
Quadratic Minimization ◽  
Fixed And Random Effects ◽  
Estimated Error ◽  
Data Estimation

For a symmetric matrix B, we determine the class of Q such that Q t BQ is non-negative definite and apply it to panel data estimation and forecasting: the Hausman test for testing the endogeneity of the random effects in panel data models. We show that the test can be performed if the estimated error variances in the fixed and random effects models satisfy a specific inequality. If it fails, we discuss the restrictions under which the test can be performed. We show that estimators satisfying the inequality exist. Furthermore, we discuss an application to a constrained quadratic minimization problem with an indefinite objective function.

scholarly journals The Effectiveness of Environmental Spending in China and the Environmental Kuznets Curve

2021 ◽  
Vol 13 (21) ◽  
pp. 12141
Author(s):  
Lin Cui ◽  
Alistair Hunt ◽  
Bruce Morley
Keyword(s):  
Economic Development ◽  
Panel Data ◽  
Environmental Kuznets Curve ◽  
Fossil Fuels ◽  
Dynamic Panel Data ◽  
Paris Agreement ◽  
Environmental Damage ◽  
Kuznets Curve ◽  
Regional Data ◽  
Dynamic Panel

The aim of this study is to determine whether recent environmental spending in China has enabled it to reduce its emissions of greenhouse gases in the context of an Environmental Kuznets Curve-based model and promote sustainable economic development. Following the Paris Agreement in 2015, there has been a coordinated effort to reduce the consumption of fossil fuels and prevent the excessive warming of the climate. The study uses annual regional data across China and a dynamic panel data approach for estimating an EKC model which includes measures of the increased use of fossil fuels and the spending across China to reduce environmental damage The results suggest that the policies have been effective in controlling emissions across a variety of pollutants and that the EKC tends to hold in China but varies according to the pollutant. This suggests that these policies should be continued and where possible, extended.

scholarly journals Evaluating Bank Profitability in Ghana: A five step Du-Pont Model Approach

2016 ◽  
Vol 4 (3) ◽  
pp. 69
Author(s):  
Baah Aye Kusi ◽  
Kwadjo Ansah-Adu ◽  
Rockson Sai
Keyword(s):  
Financial Crises ◽  
Bank Efficiency ◽  
Bank Profitability ◽  
Random Effects Models ◽  
Financing Cost ◽  
Operating Profit ◽  
Fixed And Random Effects ◽  
Asset Turnover ◽  
First Time ◽  
Model Approach

<p><em>We investigate bank profitability in Ghana using periods before, during and after the globe financial crises with the five step du-pont model for the first time. We adapt the variable of the five step du-pont model to explain bank profitability with a panel data of twenty-five banks in Ghana from 2006 to 2012. To ensure meaningful generalization robust errors fixed and random effects models are used.Our empirical results suggests that bank operating activities (operating profit margin), bank efficiency (asset turnover), bank leverage (asset to equity) and financing cost (interest burden)  were positive and significant determinants of bank profitability (ROE) during the period of study implying that bank in Ghana can boost return to equity holders through the above mentioned variables.. We further report that the five step du-pont model better explains the total variation (94%) in bank profitability in Ghana as compared to earlier findings suggesting that bank specific variables are keen in explaining ROE in banks in Ghana. We cited no empirical study that has employed five step du-pont model making our study unique and different from earlier studies as we assert that bank specific variables are core to explaining bank profitability.</em></p>

The employment effects of offshoring: evidence from Korean manufacturing

2016 ◽  
Vol 20 (1) ◽  
pp. 21-34
Author(s):  
Sang-Chul Yoon
Keyword(s):  
Panel Data ◽  
Method Of Moments ◽  
Design Methodology ◽  
Generalized Method Of Moments ◽  
Employment Relationship ◽  
Content Type ◽  
Trade Specialization ◽  
Employment Effects ◽  
Negative Effect ◽  
First Time

Purpose – The purpose of this paper is to analyze the offshoring-employment relationship under globalization in Korean manufacturing for the period from 1998 to 2010 using industry-level panel data and Generalized Method of Moments. Design/methodology/approach – For the first time in the literature the type of trade specialization is taken into account, distinguishing manufacturing between export-specialized and import-specialized industries. Findings – There is evidence that materials and services offshoring have a significantly negative effect on employment in export-specialized industries. In contrast, there is a non-significant association in import-specialized industries. Research limitations/implications – These results may cast new light on the offshoring-employment relationship. Originality/value – Major contribution of this paper is that it sheds new light on the effect of offshoring on employment by distinguishing export-specialized industries from import-specialized industries.

Import, Export and Economic Growth: A GMM Analysis Based on Dynamic Panel Data from Chinese Prefecture City

2013 ◽  
Vol 869-870 ◽  
pp. 676-682
Author(s):  
Li Ming Hong
Keyword(s):  
Economic Growth ◽  
Panel Data ◽  
Development Strategy ◽  
Positive Impact ◽  
Dynamic Panel Data ◽  
Environmental Damage ◽  
Dynamic Panel ◽  
The Development Strategy ◽  
First Time ◽  
Growth Hypothesis

This paper employed GMM for the first time to estimate the dynamic relevance between foreign trade and the economic growth based on the panel data of 284 Chinese Prefecture cities from 1994 to 2010. We find that both export and import improve the economic in general and the export-led growth hypothesis holds in China. Especially, the positive impact of import maybe even outnumber export. This finding is important to reconsider the weight of the export and import and correct the development strategy to sustainable development strategy.That would help reduce the pollution from inefficiency production to export and the environmental damage. Furthermore there is no significant evidence of investment and human capital in promoting economic development .

What factors can explain the performance of energy companies in Portugal? Panel data evidence

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Maria Elisabete Duarte Neves ◽  
Luís Baptista ◽  
António Gomes Dias ◽  
Inês Lisboa
Keyword(s):  
Panel Data ◽  
Corporate Performance ◽  
Generalized Method Of Moments ◽  
Estimation Method ◽  
Content Type ◽  
Fixed Assets ◽  
Performance Determinants ◽  
And Performance ◽  
Energy Companies ◽  
First Time

PurposeThis paper aims to analyze the determinants of Portuguese energy companies' performance.Design/methodology/approachTo achieve our objective, we have used data from 457 Portuguese energy companies, in the period between 2011 and 2018. Three dependent variables were tested using panel data, through the generalized method of moments (GMM) estimation method.FindingsThe results point out that the determinants of companies' performance change according to how different stakeholders appreciate corporate performance. In general, shareholders are concerned with maintaining their levels of profitability over time as well as with the company's market image. Managers are centered on maintaining solid margins on EBITDA through good management of cash flow, leverage and current assets. For the rest of the stakeholders, including global society, debt and investments in tangible fixed assets reduce profitability while investments in immaterial assets help to create value and performance for energy companies.Originality/valueAs far as the authors are aware, this is the first time that a study has been carried out in the Portuguese energy sector using the GMM-system model for three different stakeholders' views of corporate performance determinants.

scholarly journals Linking Innovative Human Capital, Economic Growth, and CO2 Emissions: An Empirical Study Based on Chinese Provincial Panel Data

2021 ◽  
Vol 18 (16) ◽  
pp. 8503
Author(s):  
Xi Lin ◽  
Yongle Zhao ◽  
Mahmood Ahmad ◽  
Zahoor Ahmed ◽  
Husam Rjoub ◽  
...  
Keyword(s):  
Human Capital ◽  
Panel Data ◽  
Co2 Emissions ◽  
Environmental Sustainability ◽  
Generalized Method Of Moments ◽  
Negative Relationship ◽  
Ordinary Least Squares ◽  
Kuznets Curve ◽  
Full Time ◽  
The Impact

To study the economic and environmental effects of human capital, previous studies measure human capital based on education; however, this approach has many shortcomings because not all educated people are innovative human capital. Hence, this study introduces the concept of innovative human capital by developing a new index that measures human capital based on the number of patents every one million R&D staff full-time equivalent. After this, this paper studies the impact of innovative human capital on CO2 emissions in China. The provincial panel data of 30 Chinese provinces from 2003 to 2017 is analyzed using the fixed effect, ordinary least squares, and the system generalized method of moments (SYS-GMM). The analysis revealed that innovative human capital alleviates environmental deterioration in China. The findings unfold the existence of the environmental Kuznets curve (EKC) considering innovative human capital in the model. It implies that Chinese economic development will eventually support environmental sustainability if China continues to develop its innovative human capital. Among the control variables, economic structure, population density, and energy intensity stimulate environmental degradation by increasing CO2 emissions. However, FDI has a negative relationship with CO2 emissions. Lastly, the study proposes comprehensive policies to increase innovative human capital for environmental sustainability.

Bridging Methodological Divides Between Macro- and Microresearch: Endogeneity and Methods for Panel Data

2019 ◽  
Vol 46 (1) ◽  
pp. 70-99 ◽  
Author(s):  
Paul D. Bliese ◽  
Donald J. Schepker ◽  
Spenser M. Essman ◽  
Robert E. Ployhart
Keyword(s):  
Panel Data ◽  
Random Effects ◽  
Fixed Effects ◽  
Theory Development ◽  
Modeling Framework ◽  
Random Effects Models ◽  
Data Support ◽  
Fixed And Random Effects

Both macro- and micro-oriented researchers frequently use panel data where the outcome of interest is measured repeated times. Panel data support at least five different modeling frameworks (within, between, incremental/emergent, cross-level, and growth). Researchers from macro- and micro-oriented domains tend to differentially use the frameworks and also use different analytic tools and terminology when using the same modeling framework. These differences have the potential to inhibit cross-discipline communication. In this review, we explore how macro- and microresearchers approach panel data with a specific emphasis on the theoretical implications of choosing one framework versus another. We illustrate how fixed-effects and random-effects models differ and how they are similar, and we conduct a thorough review of 142 articles that used panel data in leading management journals in 2017. Ultimately, our review identifies ways that researchers can better employ fixed- and random-effects models, model time as a meaningful predictor or ensure unobserved time heterogeneity is controlled, and align hypotheses to analytic choice. In the end, our goal is to help facilitate communication and theory development between macro- and micro-oriented management researchers.

The Zhenhua Case: the emergence of civil environmental public interest litigation in China

2021 ◽  
Vol 14 (2) ◽  
pp. 116-128
Author(s):  
Wenjun Yan
Keyword(s):  
Air Pollution ◽  
Environmental Protection ◽  
Public Interest ◽  
Pollution Control ◽  
Environmental Damage ◽  
Air Pollution Control ◽  
Public Interest Litigation ◽  
First Time ◽  
Restoration Cost

Abstract In 2015, the All-China Environment Federation v Dezhou Jinghua Group Zhenhua Corporation Limited case was the first civil environmental public interest litigation (CEPIL) against air pollution in China. Constituting a milestone in the field of air pollution control in China, this case (i) confirms the eligibility of a non-governmental organisation (NGO) to file civil public interest litigations; (ii) discusses remedies for the ecological destruction caused by air pollution; (iii) assesses the ecological and environmental damage using the ‘virtual restoration cost’ method; and (iv) uses public apology as an innovative way for Zhenhua to assume liability. By applying and interpreting several important rules under the Environmental Protection Law of China (EPLC) for the first time, this case sets an example for future CEPILs against air pollution in China.

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