Impact of globalization on CO2 emissions based on EKC hypothesis in developing world: the moderating role of human capital

Unlocking time-quantile impact of energy vulnerability, financial development, and political globalization on environmental sustainability in Turkey: Evidence from different pollution indicators

Increasing energy vulnerability can cause environmental pollution by increasing fossil fuel consumption. If it leads to cost-cutting-oriented industry growth, financial development can lead to environmental regulations being ignored, compromising environmental quality. Political globalization and economic growth can increase short-term environmental pressures, straining long-term ecological balance and causing habitat loss and pollution. This study investigates the impact of energy vulnerability, financial development, and political globalization on environmental sustainability in Turkey for the 2000-2019 period using with wavelet quantile-based techniques. According to results, while the negative effect of energy vulnerability on environmental quality is lower in the short term, the size of the effect increases in the medium and long term. In addition, at low quantiles of environmental quality, the negative effect of financial development is low in the short and long term, while the effect becomes evident in the long term. Moreover, the effects of political globalization on environmental quality are positive in all quantiles. Additionally, the harmful effects of economic growth are more evident at lower quantiles of environmental quality. Turkey should increase its clean energy investments by using its geographically advantageous location. Policymakers should also prioritize environmental regulations and promote sustainable practices in industries. Incentives for cleaner production technologies and environmentally friendly initiatives can help steer the financial sector towards more responsible and environmentally friendly practices. Additionally, the study suggests that increasing institutional capacity and aligning national policies with international agreements can accelerate the positive effects of political globalization.

Decomposing scale, technique and composition effects of foreign direct investment on environmental quality

This study aimed to investigate how the decomposing scale effect, technique effect and composition effect of foreign direct investment (FDI) impact on carbon dioxide (CO2) emissions for 115 nations spanning 1999 to 2019 by employing Generalised Method of Moments (GMM) model. The results indicated that FDI, real GDP per capita, capital-labor ratio, institutional quality and urbanization increase CO2 emissions while the square of real GDP per capita and trade openness contributed to reducing CO2 emissions. Also, our findings fail to support Environmental Kuznets Curve (EKC) theory. The outcomes of this research illustrated that scale effect dominates composition effect and followed by technique effect. The interaction effect of FDI and technique effect has the least influence on CO2 levels in reducing the harmful effects of FDI on CO2. Furthermore, it should be highlighted that although FDI increases CO2 emissions, its detrimental impact on CO2 emissions is moderately mitigated by its interactions with three economic mechanisms. Therefore, it is necessary to enhance the technical processes of production as well as the development of modern technologies. We recommended that policymakers balance sustainable economic development with environmental sustainability by considering the indirect effects of factors on CO2 emissions.

Unlocking the path to environmental sustainability: navigating economic policy uncertainty, ICT, and environmental taxes for a sustainable future

The study aims to gauge the impact of economic policy uncertainty, ICT, and environmental tax on environmental sustainability, which is measured by carbon emission and ecological footprint in a panel of 22 nations from 1997 to 2021. The present study has implemented the advanced panel data estimation techniques, including continuously updated fully modified (CUP-FM) and continuously updated bias-corrected (CUP-BC), dynamic seemingly unrelated regressions (DSUR), and nonlinear autoregressive distributed lagged (NARDL) in documenting the elasticities of target variables. Moreover, the directional causality has been tested through the D-H causality test. Study findings documented a positive and statistically significant linkage between EPU and environmental degradation. That is, EPU amplifies the emission of CO2 and ecological instability. The effects of ET and ICT are positively associated with environmental sustainability; that is, ET and ICT control the emission of CO2 and bring ecological improvement. This study contributes to the existing body of literature by conducting a thorough analysis of the relationship between various factors and their impact on environmental degradation. The study emphasizes the significance of every factor in influencing environmental outcomes. It provides policy suggestions to reduce CO2 emissions and promote ecological sustainability. The findings add valuable insights to the ongoing conversation about how to tackle environmental challenges in our constantly evolving world.

Linking clean energy consumption, globalization, and financial development to the ecological footprint in a developing country: Insights from the novel dynamic ARDL simulation techniques

Developing countries have been facing economic difficulties for over three and a half decades due to numerous factors, including fossil fuel consumption and dwindling biocapacity. It is necessary to pinpoint the factors that may be culpable for poor environmental quality leading to a rising ecological footprint (EFP). This study explores the effect of clean energy, financial development (FDV), and globalization on the EFP in a developing country using the novel dynamic ARDL simulation techniques and the bootstrap causality test. The findings suggest that green energy has no meaningful impact on the EFP. Globalization and FDV significantly reduce the EFP by 0.25% and 0.08%, respectively. Besides, the findings confirm the existence of the EKC hypothesis. Furthermore, the causality results affirm a unidirectional causality from globalization and FDV to EFP, while economic growth drives globalization. Also, a one-way causality flows from globalization to FDV, just as FDV Granger causes green energy. In line with the findings, the study recommends that public policies focus on funding environmental-friendly technologies and green innovations. The funding must be on recently developed energy-saving technologies that can ensure complementarity between increased economic growth and environmental deterioration.

Do renewable energy and human capital facilitate the improvement of environmental quality in the United States? A new perspective on environmental issues with the load capacity factor

Recently, countries have been making intensive efforts to alleviate the burden on the environment and to make environmental conditions sustainable. In this context, our study aims to investigate the long-term impact of renewable energy consumption (REC) and human capital (HC) by considering the load capacity factor (LCF). We also investigate the long-term impact of economic growth (Y) and non-renewable energy consumption (NREC) on the LCF. In this context, we analyze annual data for the U.S. for the period 1965-2018 using the newly developed augmented ARDL (AARDL) approach. The long-term empirical results show the following. i) Increases in Y negatively affect LCF and deteriorate environmental quality. ii) Increases in NREC negatively affect LCF and accelerate the deterioration of environmental quality. iii) REC has no significant impact on environmental quality. iv) Increases in HC support the improvement of environmental quality. The empirical results show that contrary to expectations, renewable energy consumption does not have a significant impact on environmental quality in the U.S., whereas human capital is an important factor in improving environmental quality. In this context, US policymakers should pave the way for more investment in eco-friendly renewable energy investments and human capital to establish sustainable environmental quality. Policymakers should also take steps to reduce the use of fossil fuels.

Macroprudential policies and CO2 emissions: A comparative analysis of G7 and BRIC countries

This study investigates the impact of macroprudential policies on CO2 emissions in G7 and BRIC countries using country-level panel data from 11 countries, covering the period from 1992 to 2020. The findings indicate that macroprudential policies alleviate CO2 emissions in the sample. Quantile regression results reveal that policies can exacerbate CO2 emissions in countries with high levels of CO2 emissions due to carbon leakage. The positive impact of macroprudential policies on sustainable development can be strengthened by high level of globalisation. Moreover, the influence of macroprudential policies stayed the same based on the basic regression results during the post-global financial crisis (GFC) period, while the impact was positive in the pre-GFC period. Finally, robust tests validated the findings reported in the basic regression model. From this, policymakers should prioritise sustainable economic growth when implementing macroprudential policies and leverage the influence of globalisation to amplify their impact on CO2 emissions. Furthermore, it is crucial to strengthen environmental regulations to prevent carbon leakage that result from industries seeking lenient standards.

Dynamic assessment of the impact of agricultural land use change and globalization on environmental quality in the tropical African Rainforest: evidence from the Congo Basin

The rising human demand for food has increased the pursuit for more agricultural land to feed the ever-growing human population. Although agriculture constitutes the cornerstone of most economies and serves as a vital source of foreign earnings to others, experts suggest that it emits a substantial amount of greenhouse gases into the atmosphere, thereby enhancing global warming. Furthermore, with the growing pace of globalization, less developed countries are witnessing economic growth with detrimental impacts on the environment. Inspired by the need to protect tropical rainforests and basins, the current research aims to assess the dynamic impacts of agricultural land use change (LALUC) and globalization (LGLO) on environmental quality (LCO2) in the Congo Basin while controlling for economic growth (LGDP), biomass energy consumption (LBIO), and urbanization (LURBN). Based on panel data from 1980 to 2018, this study utilized second-generation econometric methods including the cross-sectional Im, Peseran Shin (CIPS), Westerlund bootstrapped co-integration test, autoregressive distributive lag/pooled mean group (ARDL/PMG), and the Dumitrescu Hurlin (D-H) panel causality estimates. The outcome reveals a long-run equilibrium co-integrating association among the estimated variables, and LALUC, LBIO, and LURBN were found to reduce LCO2, while LGDP and LGLO increase LCO2. These findings imply the inverted U-shaped relationship between LALUC, LBIO, and LURBN is beneficial for environmental quality in the Congo Basin. Based on the findings, environmental quality and economic growth can be achieved instantaneously in this region by engaging in large-scale production of biomass energy. Therefore, policymakers and governments should promote renewable energy use and convey foreign funds towards its enhancement, while investments in agriculture should prioritize environmentally benign practices such as agroforestry.

Appraising the role of the digital economy in global decarbonization: A spatial non-linear perspective on globalization

In the context of globalization, the role of the digital economy in carbon emissions may generate spatial spill over effects. This study comprehensively applies a spatial model to understand the nexus between the digital economy and carbon emissions in 67 economies from 2010 to 2019. Specifically, this study contributes by introducing a spatial panel threshold model, which helps to present the new evidence regarding decarbonization process. Empirical findings exemplify that the digital economy remarkably reduces local carbon emissions, with the positive spatial spill over effects being salient. The spatial moderating effect model uncover that globalization positively affects the nexus between the digital economy and carbon emissions. Interestingly, the spatial panel threshold model designates that the digital economy's reduction effect on local carbon emissions will be tightened, whereas the positive spatial spill over effects turn negative only when globalization surpasses a threshold. Our model has the potential to explain some results that traditional models cannot reach.

Greening the BRI countries through economic and political reforms

Preserving the environment and promoting sustainable development are essential objectives for a state aimed at improving the standard of living for present and future generations. The depletion of natural resources and environmental degradation are serious concerns for policymakers worldwide. However, to fulfill its role effectively, a state must have strong institutional capacity. Studies have shown that inadequate governance and weak institutional quality are associated with environmental degradation, lower economic growth, unfavorable development outcomes, and increased inequality. Economic and political reforms are necessary to overcome these issues, while the concept of institutional reforms to save the environment is novel and hardly discussed in the earlier literature, especially in the context of BRI countries. So, this study explores the impact of economic and political reforms on the environment by applying a difference-in-differences approach to the data of 45 BRI economies from 2000 to 2022. The empirical findings reveal a negative relationship between economic and political reforms on ecological footprints, emphasizing the need for institutional reform to preserve the environment in the BRI region. Institutional reforms have a significant contribution to environmental sustainability by fostering better governance, political stability, and an environment conducive to reforms-driven decision-making. These reforms can help address the environmental challenges associated with large-scale infrastructure and economic development projects like the BRI, ultimately contributing to a more sustainable future.

Exploring the effect of human capital on carbon emissions: evidences from 125 countries

Human capital (HC) plays a crucial role in economic growth, and also has a considerable effect on environmental performance, including carbon emissions (CEs). Existing studies have drawn inconsistent conclusions on whether and how HC affects CEs, and most of them conduct case studies of a certain country or several countries with similar economic backgrounds. In order to accurately determine the effect and the influence mechanism of HC on CEs, this research conducted an empirical study by applying econometric method and the panel data of 125 countries over the period 2000-2019. The empirical results indicate that there is an inverted U-shaped nexus between HC and CEs of full sample countries, revealing that HC will increase CEs before turning point and decrease CEs after turning point. From a heterogeneity perspective, this inverted U-shaped nexus only exists in high and upper-middle income countries, while is not supported in low and lower-middle income countries. This study further disclosed that HC can affect CEs by the mediating effects of labor productivity, energy intensity, and industrial structure from a macro perspective. Specifically, HC will increase CEs by promoting labor productivity, while decrease CEs by reducing energy intensity and the proportion of secondary industry. These results can provide important references for governments of different countries to make tailored carbon reduction policies according to the mitigation effect of HC on CEs.

A dynamic relationship between renewable energy, agriculture, globalization, and ecological footprint of the five most populous countries in Asia

This study aims to examine the impact of globalization, renewable energy consumption, and agricultural value addition on the ecological footprint of selected five most populous countries in Asia during the period 1975-2020. The Westerlund cointegration test supports long-term cointegration relationships among the considered variables in selected countries. The long-term resilience results of the second-generation cross-sectionally augmented autoregressive distributed lag approach evidently demonstrate that agricultural value addition and globalization contribute significantly to the long-term ecological footprint of the five most populous countries in Asia. However, renewable energy consumption significantly reduces the ecological footprint. Moreover, the impact of economic growth on ecological footprint is significantly positive, while the square of economic growth had a significantly negative impact on ecological footprint, thus validating the inverted U-shaped environmental Kuznets curve hypothesis for specific Asian densely populated countries. The causality test results of Dumitrescu and Hurlin support the feedback hypothesis by showing a two-way causal relationship between renewable energy consumption and economic growth. There is also a two-way causal relationship between agricultural value added and ecological footprint. Strategically, specific densely populated countries in Asia should encourage clean energy production and consumption in the agricultural sector, and the adoption of environmentally friendly technologies can improve environmental quality and agricultural production.

Role of natural gas and nuclear energy consumption in fostering environmental sustainability in India

This paper investigates the role of nuclear energy in promoting ecological sustainability in India, focusing on three ecological indicators: ecological footprint (EF), CO2 emissions (CO2), and load capacity factor (LF). In addition to nuclear energy, the study considers the influence of gas consumption and other drivers of ecological sustainability using data spanning from 1970 to 2018. The analysis also takes into account the impact of the 2008 global financial crisis on the model, employing the autoregressive distributed lag (ARDL) and frequency domain causality approaches to assess the relationships. Unlike previous studies, this research evaluates both the Environmental Kuznets Curve (EKC) and load capacity curve (LCC) hypotheses. The ARDL results support the validity of both the EKC and LCC hypotheses in the Indian context. Furthermore, the findings reveal that nuclear energy and human capital contribute positively to ecological quality, while gas consumption and economic growth have a negative impact on ecological sustainability. The study also highlights the increasing effect of the 2008 global financial crisis on ecological sustainability. Additionally, the causality analysis demonstrates that nuclear energy, human capital, gas consumption, and economic growth can serve as predictors of long-term ecological sustainability in India. Based on these findings, the research presents policy recommendations that can guide efforts towards achieving SDGs 7 and 13.

Carbon neutrality along the way to participate in global value chains: the threshold effect of information globalization of BRICS countries

Using panel data from BRICS countries over the period 2000 to 2018, a multi-variate threshold model was built to investigate how global value chain (GVC) participation and information globalization affects CO2 emission. We further decompose the information globalization into two indicators, i.e., de facto measure and de jure measure. The main findings show that the estimated value of threshold is 4.02 and 1.81 for both de facto and de jur measures of information globalization. The findings suggest that information globalization rate above the threshold level negatively affects the carbon emissions. De facto and de jure measures show a strong single threshold effect when GVC participation is chosen as the major explanatory variable. Similarly, participation in GVCs has a large single threshold impact when information globalization is taken as the primary independent variable. Overall, the results show that the larger the information globalization for the countries under analysis, the modified impact of GVC participation on CO2 emission reduction is larger. The robustness test validates the stability and coherence of the study's findings. The opportunities that the information globalization along the approach to participate in GVCs presents for the accomplishment of carbon neutrality should be properly utilized by policymakers. There should be expansion the participation in GVCs with digital infrastructure and to enhance the assessment system for the use of technology spillover effects to increase environmental-friendly GVC ladder.

Meditation for role of productive capacities and green investment on ecological footprint in BRI countries

The Belt and Road Initiative (BRI) is a development strategy with a focus on enhancing connectivity, promoting economic growth, and improving people's livelihoods. However, it has also raised concerns about its effect on the environment. This study explores the impact of productive capacities and green investment in mitigating the ecological footprint of BRI countries. The role of productive capacities on ecological footprint is very little discussed in earlier studies. This study investigates the effect of productive capacities index and green investment on ecological footprint for 42 BRI participating countries covering the time span of 2000-2018. Different methods are applied to tackle the problem of dependence of cross sections; then Lagrange multiplier bootstrap method is applied to find co-integration. The long run relationship is uncovered by "augmented mean group" (AMG) and "common correlated effects mean group" (CCEMG). The findings of the study show that both productive capacities and green investment have a significant negative impact on ecological footprint, depicting that promoting sustainable development and environmental protection is feasible through increasing productive capacities and investing in green technologies. The findings of this study have important implications for policymakers, who should focus on promoting sustainable environment by prioritizing productive capacities and green technologies.

Determinants of environmental quality in India: evidence using the bootstrapped ARDL model with structural breaks

This current study examines the impact of renewable energy consumption, agriculture, and globalization on carbon emissions in India over the period from 1980 to 2018. For long-run estimates, we apply Gregory-Hansen's co-integration test, bootstrap ARDL approaches, fully modified ordinary least squares, and dynamic OLS. The empirical results of long-run estimates indicate that a 1% increase in renewable energy consumption, agriculture, and economic globalization will increase carbon emissions by 0.764%, 1.675%, and 0.517%, respectively. Moreover, this study confirms the detrimental effect of these variables on carbon dioxide emissions. Economic globalization coefficients indicate that the scale effect is valid in India. The 2002 economic crisis slowed down the country's growth rate, which reduced the ecological pollution. Several policy recommendations are derived from the empirical findings.

Exploring the roles of green finance and environmental regulations on CO2es: defining the roles of social and economic globalization in the next eleven nations

Achieving sustainable environmental growth and preventing further environmental degradation are challenging goals for policymakers. This study looks at environmental laws and green finance's role in fostering a more sustainable environment. The literature still needs to empirically or theoretically investigate how environmental laws and green financing affect carbon dioxide (CO2) emissions, particularly when combined with moderating factors such as social and economic globalization. As a result, this study investigates how environmental laws and green funding can help the N-11 nations cut their CO2 emissions. Our research uses empirical data from a group of the N-11 nations that span the years 2000 to 2019. To handle issues with panel data analysis, such as cross-sectional dependence and slope heterogeneity, we use advanced panel approaches (CIPS and CADF unit root and cointegration test and cross-sectional augmented ARDL). This research demonstrates that green financing (GFI) and environmental laws (ENV) have a negative but significant effect on CO2 emissions. While social globalization moderates the causal relationship between energy consumption and GDP while negatively and significantly causing GFI and ENV with CO2 emissions among the N-11 countries, economic growth has had a positive and significant effect on CO2 emissions in the N-11 countries. According to our research, nations could achieve the SDG-7 and SDG-13 goals if they adopted green financial and environmental policies.

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.

Insights from BRICS-T economies on the impact of human capital and renewable electricity consumption on environmental quality

This paper evaluates the impact of electricity consumption from renewable and nonrenewable sources on the load capacity factor for BRICS-T nations using data from 1990 to 2018. The paper used linear and nonlinear autoregressive distributed lag (ARDL) approaches to explore these associations. The results of the Westerlund co-integration show long-run co-integration between load capacity factor and the independent variables. The results show that renewable electricity energy and human capital contribute to the sustainability of the environment, while electricity consumption, economic growth, and industrialization impede environmental sustainability. Similarly, the nonlinear effect of renewable electricity energy on LCF shows interesting findings. The positive (negative) shift in renewable electricity energy increases ecological sustainability in the BRICS-T nations. Furthermore, the Dumitrescu Hurlin panel causality gives credence to both linear and nonlinear ARDL results. The study suggests policy recommendations based on these results.

Does the Digital Economy Promote the Reduction of Urban Carbon Emission Intensity?

The impact of the digital economy is increasing, and its environmental effect has attracted more and more attention. The digital economy promotes the improvement of production efficiency and the government's environmental governance capacity, and contributes to the reduction of urban carbon emission intensity. In order to study the impact of digital economy development on urban carbon emission intensity, this paper analyzes the theoretical basis of the digital economy on the reduction of carbon emission intensity, and then, based on the panel data of cities from 2011 to 2019, uses the two-way fixed effect model for empirical testing. The regression results show that the development of the digital economy has promoted the reduction of carbon emission intensity of cities, promoted the green transformation and upgrading of cities, and lays a foundation for China to achieve carbon peaking and carbon neutralization through the improvement of human capital investment and green innovation level. The basic conclusion is robust by changing core explanatory variables, changing samples, replacing regression methods, and shrinking and truncating tests. The impact of the digital economy on urban carbon emission intensity varies with the location, grade and size of the city. Specifically, the development of the digital economy in cities in the eastern and central regions, cities at or above the sub provincial level, large cities and non-resource-based cities has promoted the reduction of urban carbon emission intensity. In terms of resource-based cities, the development of the digital economy in renewable resource-based cities and resource-based cities dominated by iron ore and oil mining has promoted the decline in urban carbon emission reduction intensity.

Exploring the impact of economic growth on environmental pollution in South American countries: how does renewable energy and globalization matter?

Most emerging economies and the South American Countries are no exception to the negative consequences of trade-off between economic growth and environmental sustainability decisions. This study draws strength from the United Nations Sustainable Development Goals (UN-SDGs-7, 11, 12, and 13). Therefore, this study examines the environmental nexus between economic growth, globalization, renewable, and non-renewable energy, in South America from 1995 to 2020. We deployed the pooled mean group (PMG), mean group (MG), and dynamic fixed effects (DFE). Cross-sectional dependence, panel unit root, and cointegration tests were performed. Finally, we used the Dumitrescu and Hurlin test of causality to determine the long-run association between variables. The finding indicates that while environmental pollution increases with increasing economic growth, it decreases with increasing renewable energy both in the short and long term. Whereas economic globalization positively affects environmental pollution in the long term, social globalization and the moderation effect between political globalization and renewable energy improves environmental quality in the long run. Finally, a bidirectional causality was found between economic growth and environmental pollution, with a unidirectional causality running from economic, political, and social globalization, renewable, and non-renewable energy to environmental pollution. Given these findings, we discussed potential policy measures.

Dynamic evaluation and prediction of the ecological environment quality of the urban agglomeration on the northern slope of Tianshan Mountains

In order to timely determine the dynamic changes of the ecological environment quality and future development laws of the urban agglomeration on the northern slope of the Tianshan Mountains, combined with the actual situation of the urban agglomeration, 11 indicators were selected from the three aspects of natural ecology, social ecology, and economic ecology. To reduce the dimensions of the indicators, principal component analysis, coefficient of variation, and analytic hierarchy process were used based on RS and GIS technology methods, and the ecological environmental quality (EQI) from 2000 to 2018 was dynamically evaluated. Further, the CA-Markov model was introduced to simulate the development status in 2026 for predictive purposes. The main results are as follows: the overall ecological environment of the area exhibited a gradually improving distribution change from southwest to northeast; the proportion of ecological environment classification exhibited a gradually decreasing change pattern; the spatial differentiation of ecological environment quality exhibited a significant spatial positive correlation; from the influencing factors, an observation can be made that natural ecological factors were highly significant; the prediction accuracy verification revealed that the CA-Markov model was suitable for the prediction of the ecological environment quality in the region and had high accuracy; and the comprehensive regional ecological environment quality indexes were 5.7392, 6.1856, and 6.4366, respectively, while the forecasted value for 2026 was predicted to be 6.6285, indicating that the overall ecological environment quality of the region will improve and develop well. The present research results reveal the law of dynamic changes and future development of the ecological environment quality in the region, which can be used as a theoretical reference for the formulation of ecological environmental protection measures.

Does income inequality reshape the environmental Kuznets curve (EKC) hypothesis? A nonlinear panel data analysis

The COVID-19 pandemic has further increased income inequality. This work is aimed to explore the impact of income inequality on the environmental Kuznets curve (EKC) hypothesis. To this end, income inequality is set as the threshold variable, economic growth is set as the explanatory variable, while carbon emission is set as the explained variable, and the threshold panel model is developed using the data of 56 countries. The empirical results show that income inequality has changed the relationship between economic growth and carbon emissions from an inverted U-shaped to an N-shaped, which means that income inequality redefines the environmental Kuznets curve and increases the complexity of the decoupling of economic growth and carbon emissions. Specifically, economic growth significantly increases carbon emissions during periods of low income inequality, however, as income inequality increases, economic growth in turn suppresses carbon emissions. In the period of high income inequality, economic growth inhibits the increase of carbon emissions. However, with the increase of income inequality, the impact of economic growth on carbon emission changes from inhibiting to promoting. Panel regressions for robustness tests show that this phenomenon is more pronounced in high-income countries. We therefore contend that the excessive income inequality is bad for the win-win goal of economic growth without carbon emission growth, and the income distribution policy should be included in the carbon neutral strategy.

The Carbon Emissions Trading Policy of China: Does It Really Promote the Enterprises' Green Technology Innovations?

The carbon emissions trading policy has profound impacts on the production and operation of enterprises. The aim of this study is to examine the effects of the carbon emissions trading policy on enterprises' green technology innovations by using PSM-DID models. The results showed that: (1) the carbon emissions trading policy has a facilitating effect on green technology innovation of China's enterprises in pilot cities; (2) there is significant spatial heterogeneity in this effect and it is extremely beneficial to enterprises' green technology innovations in eastern China; and (3) the trading policy is proved to have significant positive effects on green technology innovations of non-state and non-high-tech enterprises, while it has no effects on that of state-owned and high-tech enterprises. The above findings were corroborated by the placebo test and other methods.

An analysis of the environmental impacts of ethnic diversity, financial development, economic growth, urbanization, and energy consumption: fresh evidence from less-developed countries

Improving the quality of environmental indicators has become a global concern that necessitates the identification of possible channels through which environmental welfare can be enhanced worldwide. Against this backdrop, this current study aims to elucidate the environmental effects of ethnic diversity, controlling for financial development, urbanization, economic growth, and energy consumption in the context of 51 less-developed countries during the period from 1996 to 2016. For measuring the environmental impacts, we use both the ecological footprint and carbon dioxide emission figures of these countries. Overall, the cointegration analysis confirms the existence of long-run relationships among the study variables. Besides, the regression analysis reveals that ethnic diversity deteriorates environmental quality by surging the ecological footprint and carbon dioxide emission levels of the selected nations. Similarly, financial development and energy consumption are found to impose identical adversities on the environment while urbanization is evidenced to ensure environmental welfare. Lastly, for both the environmental indicators considered in this study, the environmental Kuznets curve hypothesis is verified from the findings. Hence, considering these key outcomes, a set of relevant environmental welfare-related policy interventions are recommended in the context of less-developed countries.

Linking shadow economy and CO2 emissions in Nigeria: Exploring the role of financial development and stock market performance. Fresh insight from the novel dynamic ARDL simulation and spectral causality approach

First and foremost, the present study seeks to traverse the informal sector characterized by a shadow economy in the presence of financial development, economic growth, and stock market performance on environmental pollution in Nigeria from 1981 to 2019. The dynamic autoregressive distributed lag (DARDL) approach was used to measure the short- and long-run elasticities, while spectral causality is applied to categorize the causal directions. Findings from the study revealed that the structural break unit root test revealed that all variables are stationary at first difference. The ARDL bound test confirmed the existence of long-run association among the used variables. The ARDL long-run results reveal that economic growth, financial development, and stock market performance are significantly responsible for carbon emission in Nigeria, while the shadow economy significantly improves environmental quality in Nigeria. Findings from the spectral causality results show a unidirectional causal relationship between financial development, economic growth, trade, stock market performance, and shadow economy to carbon emission in Nigeria. The empirical findings of this study provide some perceptive policy recommendations to overcome the adverse effect of carbon emissions in the environment.

Pathways to Argentina's 2050 carbon-neutrality agenda: the roles of renewable energy transition and trade globalization

The government of Argentina has recently declared its objective of turning the nation carbon-neutral by 2050. Thus, it is essential to identify the relevant factors which can facilitate the attainment of this environmental development target. Against this backdrop, this study aims to evaluate the impacts of renewable electricity output, trade globalization, economic growth, financial development, urbanization, and technological innovation on sectoral carbon dioxide emissions in Argentina during the 1971-2014 period. The findings, overall, suggest that enhancing renewable electricity output share in the total electricity output figure of the nation helps to curb carbon dioxide emissions generated from Argentina's energy, manufacturing and industry, residential and commercial buildings, and transportation sectors. Contrarily, greater trade globalization is evidenced to boost carbon dioxide emissions in almost all the aforementioned economic sectors. Besides, the findings also validate the existence of the carbon dioxide emission-induced environmental Kuznets curve hypothesis for all four sectors. In addition, financial development and urbanization are also evidenced to exert carbon dioxide emission-stimulating impacts, while technological innovation is witnessed to be necessary for curbing sector-based carbon dioxide emissions in Argentina. Accordingly, to decarbonize the economy, this study recommends the government of Argentina to adopt necessary policies for fostering renewable energy transition within the electricity sector, greening the trade globalization strategies, achieving environmentally sustainable economic growth, developing the financial sector by introducing green financial schemes, planning sustainable urbanization, and financing technological development-oriented projects.

The impact of environmental regulations on export trade at provincial level in China: evidence from panel quantile regression

Based on panel data from 30 provinces in China from 2008 to 2017, this paper constructs a quantile regression econometric model to analyze whether China's environmental regulation has an impact on export trade and to verify whether the Porter hypothesis has been valid in China in recent years. The results show that in the short term, environmental regulations have a restraining effect on export trade, while in the long run, due to the existence of innovation efficiency, environmental regulations will change from having a restraining effect to a promoting effect on export trade. Strict environmental regulations will reduce the production cost of Chinese products, further improve the export competitiveness of Chinese enterprises, and promote export trade. The empirical results verify the conclusion that the Porter hypothesis is confirmed in China. The following three suggestions are proposed for China's exports to promote the win-win of China's green development and export trade: promote the realization of international and domestic double circulation, avoid becoming "pollution shelters" and support technological innovation in environmental protection industries.

Green Technology Innovation, Globalization, and CO2 Emissions: Recent Insights from the OBOR Economies

This study explores the connection between technological innovation, globalization, and CO2 emissions by controlling the critical influence of information and communication technology (ICT) and economic growth in a panel of One Belt One Road (OBOR) countries from 1991 to 2019, utilizing advanced and robust econometric strategies (second generation). In addition, this study also uses an interaction variable (TI*GLOB) to check the interaction role of technological innovation on the linkage between globalization and CO2 emission, besides their direct effect on CO2 emissions in OBOR countries. The outcomes revealed that the linkage between technological innovation and CO2 emissions is negative, and statically significant in all the regions (e.g., OBOR, South Asia, East and Southeast Asia, MENA, Europe, and Central Asia). Moreover, the results of globalization show a significant positive relationship with CO2 emissions in OBOR and South Asia region. Nevertheless, it significantly negatively affects environmental pollution in East and Southeast Asia, MENA, Europe, and Central Asia. The results of TI*GLOB indicate that, for the OBOR sample, East and Southeast Asia, and Central Asia, the moderation effects of technological innovation with globalization are significantly negatively associated with CO2 emissions. However, in MENA and Europe, the interaction effect is a significant positive. The coefficient of ICT for OBOR, Europe, and Central Asia are positive and statistically significant; however, for East, Southeast Asia, and MENA regions, these results are statistically negative. Furthermore, the findings are robust, according to various robustness checks that we have performed for checking the reliability of our main findings. The study establishes numerous polities and makes various recommendations, in light of relevant conclusions.