scholarly journals Symmetric and asymmetric effects of financial development on carbon dioxide emissions in Nigeria: Evidence from linear and nonlinear autoregressive distributed lag analyses

2020 ◽  
Vol 38 (5) ◽  
pp. 2059-2078 ◽  
Author(s):  
Philip C Omoke ◽  
Silva Opuala-Charles ◽  
Chinazaekpere Nwani
Keyword(s):  
Carbon Dioxide ◽  
Financial Development ◽  
Carbon Dioxide Emissions ◽  
Asymmetric Effects ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Linear And Nonlinear ◽  
The Impact ◽  
Nonlinear Autoregressive

This study examines the impact of financial development on carbon dioxide emissions in Nigeria over the period 1971–2014. Income per capita, energy consumption, exchange rate and urbanization are incorporated in the analysis. The empirical analysis based on linear and nonlinear autoregressive distributed lag techniques provides evidence of long-run relationship among the variables in Nigeria. The results in general show that financial development has significant asymmetric effects on carbon dioxide emissions in Nigeria. Both short-run and long-run analyses show that the impact of positive changes in financial development on carbon dioxide emissions is significantly different from that of negative changes. The results suggest that in Nigeria positive shocks in financial development have significant reducing effect on carbon dioxide emissions, while negative shocks in financial development have significant increasing effect on carbon dioxide emissions. The empirical results also show that the response of carbon dioxide emissions to negative shocks in financial development is stronger. Based on these findings, this study concludes that mitigation policies would need to incorporate strategies to strengthen the depth of financial intermediation in the Nigerian economy.

scholarly journals The role of the globalisation process on mitigation of carbon dioxide emissions of Latin American & Caribbean countries

2021 ◽  
Vol 16 (45) ◽  
Author(s):  
Matheus Koengkan ◽  
José Alberto Fuinhas
Keyword(s):  
Carbon Dioxide ◽  
Panel Data ◽  
Latin American ◽  
Environmental Degradation ◽  
Carbon Dioxide Emissions ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
The Impact

The impact of globalisation on carbon dioxide emissions was analysed in a panel data of thirteen LAC countries for the period from 1991 to 2012. A panel autoregressive distributed lag methodology was used to decompose the total effects of globalisation on carbon dioxide emissions both in short- and long-run components. There is evidence that globalisation contributes to reducing carbon dioxide emissions in the long-run. A possible explanation of this result is that the process of globalisation causes technological enhancement in LAC countries, which contributes to a decrease in environmental degradation. Globalisation has other implications, such as the transfer of responsibility from the state to the private sector, where this transfer corresponds to the shifting of regulatory attributes to independent governmental regulatory authorities, in other words, “regulation for competition”.

scholarly journals The Causal Connection between CO2 Emissions and Agricultural Productivity in Pakistan: Empirical Evidence from an Autoregressive Distributed Lag Bounds Testing Approach

2019 ◽  
Vol 9 (8) ◽  
pp. 1692 ◽  
Author(s):  
Abdul Rehman ◽  
Ilhan Ozturk ◽  
Deyuan Zhang
Keyword(s):  
Carbon Dioxide ◽  
Carbon Dioxide Emissions ◽  
Bounds Testing ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Food Grains ◽  
Long Run ◽  
Total Food ◽  
Short Run ◽  
Seed Distribution

The rapid agricultural development and mechanization of agronomic diligence has led to a significant growth in energy consumption and CO2 emission. Agriculture has a dominant contribution to boosting the economy of any country. In this paper, we demonstrate carbon dioxide emissions’ association with cropped area, energy use, fertilizer offtake, gross domestic product per capita, improved seed distribution, total food grains and water availability in Pakistan for the period of 1987-2017. We employed Augmented Dickey-Fuller and Phillips-Perron unit root tests to examine the variables’ stationarity. An autoregressive distributed lag (ARDL) bounds testing technique to cointegration was applied to demonstrate the causality linkage among study variables from the evidence of long-run and short-run analyses. The long-run evidence reveals that cropped area, energy usage, fertilizer offtake, gross domestic product per capita and water availability have a positive and significant association with carbon dioxide emissions, while the analysis results of improved seed distribution and total food grains have a negative association with carbon dioxide emissions in Pakistan. Overall, the long-run effects are stronger than the short-run dynamics, in terms of the impact of explanatory variables on carbon dioxide emission, thus making the findings heterogeneous. Possible initiatives should be taken by the government of Pakistan to improve the agriculture sector and also introduce new policies to reduce the emissions of carbon dioxide.

On the Evolutionary Interplay Between Remittances, Financial Development, and Economic Growth

2019 ◽  
pp. 78-96
Author(s):  
Ramzi Fahrani ◽  
Azza Béjaoui
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Data Series ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Ardl Approach ◽  
Stable Economy ◽  
Relationship Of ◽  
The Impact

In this chapter, the authors attempt to investigate the interaction between remittances and financial development and its impact on the economic growth over the period 1980-2016. In this respect, they apply the autoregressive distributed lag bound test (ARDL) approach on cross-country of data series from 1980 to 2016 to study the short- and long-run relationship of remittances and financial development with economic growth. The empirical results show that the direct effects of shipments on growth are significant. On the other hand, the impact of remittances on economic seems to be more significant by means of the financial development. It also shows that these shipments are more efficient in the case of a less developed informal sector, a politically stable economy, and a developed financial structure.

scholarly journals A Nonlinear Autoregressive Distributed Lag (NARDL) Analysis of the FTSE and S&P500 Indexes

Risks ◽  
2021 ◽  
Vol 9 (11) ◽  
pp. 195
Author(s):  
David Allen ◽  
Michael McAleer
Keyword(s):  
Weak Form ◽  
Stationary Time Series ◽  
Bounds Testing ◽  
Distributed Lag ◽  
Price Series ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Quantile Regression Analysis ◽  
The Impact ◽  
Nonlinear Autoregressive

The paper features an examination of the link between the behaviour of the FTSE 100 and S&P500 Indexes in both an autoregressive distributed lag ARDL, plus a nonlinear autoregressive distributed lag NARDL framework. The attraction of NARDL is that it represents the simplest method available of modelling combined short- and long-run asymmetries. The bounds testing framework adopted means that it can be applied to stationary and non-stationary time series vectors, or combinations of both. The data comprise a daily FTSE adjusted price series, commencing in April 2009 and terminating in March 2021, and a corresponding daily S&P500 Index adjusted-price series obtained from Yahoo Finance. The data period includes all the gyrations caused by the Brexit vote in the UK, beginning with the vote to leave in 2016 and culminating in the actual agreement to withdraw in January 2020. It was then followed by the impact of the global spread of COVID-19 from the beginning of 2020. The results of the analysis suggest that movements in the contemporaneous levels of daily S&P500 Index levels have very significant effects on the behaviour of the levels of the daily FTSE 100 Index. They also suggest that negative movements have larger impacts than do positive movements in S&P500 levels, and that long-term multiplier impacts take about 10 days to take effect. These effects are supported by the results of quantile regression analysis. A key result is that weak form market efficiency does not apply in the second period.

scholarly journals Asymmetric Effects of Remittances on Economic Growth in Nigeria: Evidence From Non-linear ARDL Analysis

2020 ◽  
Author(s):  
David Oluseun Olayungbo ◽  
Clement Olalekan Olaniyi ◽  
Titus Ayobami Ojeyinka
Keyword(s):  
Economic Growth ◽  
Jel Classification ◽  
Asymmetric Effects ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
Linear Effects ◽  
Nonlinear Autoregressive ◽  
Nardl Model

Abstract Most of the extant studies on remittance-growth nexus have been limited to symmetric and linear effects of remittance on economic growth. Unlike previous studies, we examine asymmetric and nonlinear association between remittance and economic growth within the framework of nonlinear autoregressive distributed lag (NARDL) model utilizing Nigeria’s data from 1981 to 2018. The study finds the evidence to support that growth responds asymmetrically to remittances only in the long-run. It is established that both positive and negative variations in remittance inflows dampen the productive base of the economy in the long-run while positive and negative changes in remittances are growth-retarding and growth-enhancing respectively in the short-run. The study, therefore, concludes that persistent increase in remittance inflows have not been channeled to productive ventures that are capable of stimulating growth in Nigeria. Thus, consistent with the view of pessimistic theorists, continual inflows of remittances to Nigeria could not be termed brain gains to the economy. JEL CLASSIFICATION: F24, F43, O11

scholarly journals Energy Consumption and Economic Growth Nexus in China: Autoregressive Distributed Lag (ARDL)

2020 ◽  
Vol 10 (2) ◽  
pp. 194
Author(s):  
Wan-Lin Yong ◽  
Jerome Kueh ◽  
Yong Sze Wei ◽  
Jang-Haw Tiang
Keyword(s):  
Economic Growth ◽  
Carbon Dioxide ◽  
Energy Consumption ◽  
Carbon Dioxide Emissions ◽  
Carbon Dioxide Emission ◽  
Sustainable Growth ◽  
Total Export ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run

This paper intends to investigate the nexus between energy consumption, carbon dioxide emission, total export and economic growth of China from 1971 to 2014. This study adopted Autoregressive Distributed Lag (ARDL) bounds test to examine the existence of short-run and long-run relationships among the variables. Empirical findings indicated that energy consumption contribute to economic growth while carbon dioxide emission is impeding the growth. There is a positive long-run relationship between both energy consumption and total export with economic growth of China. However, a negative relationship is observed between carbon dioxide emissions and economic growth. Hence, in terms of policy recommendation, policymakers can implement a balance environment-economic policy; reduce the carbon dioxide emission by imposing carbon tax; promote renewable energy among the industries and households and promoting reserves forest policy is needed for aspiration of sustainable growth for both environmental and economic.

Carbon Dioxide Emissions, Energy Consumption in Agriculture: A Causality Analysis for India

2018 ◽  
Vol 17 (2) ◽  
pp. 183-207 ◽  
Author(s):  
Sudeshna Ghosh
Keyword(s):  
Carbon Dioxide ◽  
Energy Consumption ◽  
Granger Causality ◽  
Financial Development ◽  
Carbon Dioxide Emissions ◽  
Value Added ◽  
Causality Analysis ◽  
Distributed Lag ◽  
Long Run ◽  
Short Run

This article utilises the vector error correction model (VECM) and Granger causality tests to explore short-run and long-run relationships, in India, across carbon dioxide (CO2) emissions, energy consumption, agriculture value added (AV), trade liberalisation and financial development over the time period 1971–2013. The study adopts the autoregressive distributed lag (ARDL)-bound testing approach and Johansen–Juselius maximum likelihood procedure to find out the cointegrating relation among the variables. Both ARDL approach and Johansen–Juselius cointegration approach show that the concerned variables under study are cointegrated. Short-run Granger causality results indicate the existence of bidirectional causality between AV and CO2 emissions, and energy used and CO2 emissions. In the long-run trade, financial development, energy consumption and AV affect CO2 emissions. The results put thrust on the need to utilise energy-efficient technologies in agriculture to save the damage of the environment. JEL: C32, O53, Q43

scholarly journals The Impact of Saving and Financial Development on Economic Growth in Turkey

2019 ◽  
Vol 11 (2) ◽  
pp. 1
Author(s):  
Hatem Hatef Abdulkadhim Altaee ◽  
Mohamed Khaled Al-Jafari
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Time Series Data ◽  
Series Data ◽  
Domestic Saving ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
The Impact

Since saving and financial development are vital to economic growth, this research empirically investigates the impact of saving and financial development on economic growth in Turkey. Therefore, a time series data from 1968 until 2017 were tested utilizing both the error correction model (ECM) and the autoregressive distributed lag approach (ARDL). The findings reveal an existence of a short-run and a long-run positive and significant effect of savings and financial development on economic growth. Conventional inputs such as capital and labor proved to be the most important factors in achieving economic growth in Turkey. The study concludes that an appropriate policy mix will enhance domestic saving in the country.

scholarly journals Nonlinear Autoregressive Distributed Lag Approach: An Application on the Connectedness between Bitcoin Returns and the Other Ten Most Relevant Cryptocurrency Returns

Mathematics ◽  
2020 ◽  
Vol 8 (5) ◽  
pp. 810 ◽  
Author(s):  
María de la O González ◽  
Francisco Jareño ◽  
Frank S. Skinner
Keyword(s):  
Strong Evidence ◽  
The Other ◽  
Distributed Lag ◽  
Autoregressive Distributed Lag ◽  
Long Run ◽  
Short Run ◽  
The Impact ◽  
Nonlinear Autoregressive

This article examines the connectedness between Bitcoin returns and returns of ten additional cryptocurrencies for several frequencies—daily, weekly, and monthly—over the period January 2015–March 2020 using a nonlinear autoregressive distributed lag (NARDL) approach. We find important and positive interdependencies among cryptocurrencies and significant long-run relationships among most of them. In addition, non-Bitcoin cryptocurrency returns seem to react in the same way to positive and negative changes in Bitcoin returns, obtaining strong evidence of asymmetry in the short run. Finally, our results show high persistence in the impact of both positive and negative changes in Bitcoin returns on most of the other cryptocurrency returns. Thus, our model explains about 50% of the other cryptocurrency returns with changes in Bitcoin returns.

scholarly journals THE IMPACT OF RENEWABLE ENERGY CONSUMPTION ON CARBON DIOXIDE EMISSIONS - THE CASE OF SOUTH AMERICAN COUNTRIES

2018 ◽  
Vol 7 (2) ◽  
Author(s):  
Matheus Da Costa Koengkan ◽  
José Alberto Fuinhas
Keyword(s):  
Carbon Dioxide ◽  
Renewable Energy ◽  
Energy Consumption ◽  
Carbon Dioxide Emissions ◽  
Fossil Fuels ◽  
South American ◽  
Renewable Energy Consumption ◽  
Distributed Lag ◽  
Long Run ◽  
The Impact

The impact of renewable energy consumption on the carbon dioxide emissions was analyzed for a panel of ten South American countries in a period from 1980 to 2012. The Autoregressive Distributed Lag Methodology was used in order to decompose the total effect of renewable energy consumption on the carbon dioxide emissions in its short- and long-run components. The results indicate that the consumption of renewable energy reduce the carbon dioxide emissions in -0.0420 % when the consumption of alternative sources increases in 1% in short-run. The empirical evidence shows that the renewable consumption plays an important role in reducing CO2 emissions and that the economic growth and energy consumption in the South American countries are still based on fossil fuels.  Keywords: Environmental, Energy economics, Econometric.

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