Do governance indicators interact with technological innovation and income inequality in mitigating CO2 emissions in Belt and Road Initiative countries?

The moderating role of technological innovation between tourism and carbon emission: short and long-run panel analysis

In contemporary times of globalization, tourism and travel are among the fastest-growing economic sectors and are highly related to climate change; however, technological innovations as a powerful tool positively contribute to the environment. The present study examines the tourism receipt and CO2 emission relationship and the triple interaction effect of technological innovation, energy consumption, and tourism receipts on CO2 emissions in the short and long run. To achieve study objectives, we utilized panel data of 64 Belt and Road Initiative (BRI) countries over the period of 1995 to 2019. Considering the cross-sectional dependence in the panel data set, we employed a series of econometric panel data estimation techniques-including the panel unit root tests, panel co-integration tests, and the generalized method of moments (GMM). The panel unit root results confirmed the level of stationarity, and the panel co-integration results verified the long-run relationship among study variables. The sys-GMM results indicate that tourism receipts and CO2 emissions have an inverse relationship for 64 BRI countries. In addition, the negative coefficients for joint interaction imply that tourism receipts, technological innovation, and energy consumption reduce CO2 emissions. Considering the theoretical underpinnings of the study outcomes, we discussed significant policy implications to reduce CO₂ emissions and achieve sustainable tourism.

Green innovation, globalization, financial development, and CO2 emissions: the role of governance as a moderator in South Asian countries

The current study is designed to analyze the relationship between, environmental innovations, globalization, financial development, and CO₂ emissions in the South Asian region over the period of 1996 to 2019. In this regard, the role of governance is also incorporated as a moderator along with Environmental Kuznets Curve (EKC) hypothesis. The sample size includes Bangladesh, India, Pakistan, Nepal, and Sri Lanka. The results of the robust least square show the validity of EKC in the sample countries. Environmental innovations show desirable results on CO₂ emissions, while globalization, financial development, and governance are increasing environmental degradation. The role of governance as a moderator is only effective and favorable with environmental innovation. However, in the case of globalization and financial development, governance appeared to be ineffective in lessening the rate of emissions; rather, it contributes to emissions. It clearly shows the missing link in formulating coherent policy to achieve sustainability targets. Therefore, it is desirable to improve the role of governance with respect to environmental policies not only to handle directly environmental issues but also indirectly while promoting the process of globalization and financial development.