Quantile estimation of ecological footprint and economic complexity in emerging economies: The moderating role of increasing energy consumption

The dampening effect of geopolitical risk and economic policy uncertainty in the linkage between economic complexity and environmental degradation in the G-20

The question remains whether high geopolitical risk and economic policy uncertainty will have a dampening or enhancing effect on pollution factors. In this regard, the study empirically investigates the effects of economic complexity, geopolitical risk, economic policy uncertainty, renewable energy consumption and economic growth on environmental pollution for G-20 countries from 1997 to 2018. The long-term coefficient estimates, derived from the FMOLS estimator, support the inverted U-shaped EKC linkages between economic complexity and ecological footprint, carbon footprint and carbon dioxide emissions. Furthermore, over the long term, geopolitical risks, renewable energy use, and the interaction between economic complexity and policy uncertainty have a positive impact on environmental quality in the G-20 economies. Conversely, economic growth and the interaction between economic complexity and geopolitical risk are negatively associated with environmental quality. Additionally, economic policy uncertainty has a positive effect on ecological footprint carbon footprint and carbon dioxide emissions. Finally, causality results revealed that explanatory variables are the cause of environmental pollution indicators. Hence, in order to advance environmental quality in these nations, precautions must be taken to mitigate the effects of economic policy uncertainty and boost the accessibility of renewable energy sources. Additionally, while not advised as a policy measure, the feasible economic fallout of geopolitical risk should also be considered.

Revisiting the environmental Kuznetz curve and pollution haven hypothesis in N-11 economies: Fresh evidence from panel quantile regression

Human activities in recent decades have severely affected environmental quality, and CO₂ emissions have irreparable consequences on human health and the survival of the earth. Moreover, achieving sustainable development goals requires the expansion of environmental literature to accelerate the performing of critical actions. With this in mind, this study evaluates the impact of foreign direct investment, economic complexity, and the utilization of renewable energy on CO₂ emission in N-11 countries from 1995 to 2019 by Panel Quantile Regression. As a novelty, the interaction between economic complexity and foreign direct investment is considered to get a better comprehension. Given the results, Environmental Kuznetz Curve is validated in N-11 countries through economic complexity. Notably, the impact of economic complexity is more substantial and robust in the incipient stages of industrialization. Furthermore, foreign direct investment is a destructive factor for environmental quality, and Pollution Haven Hypothesis is not rejected. Interestingly, the interaction of economic complexity and foreign direct investment mitigates the trend of CO₂ emissions. Eventually, the utilization of renewable energy reduces CO₂ emissions. Thereby, applying more strict environmental regulations and standards, developing green energy infrastructure and technologies, improving institutional quality, and supporting knowledge-based and technology-intensive exports are the main policy recommendations of this study.

Technological innovations, renewable energy, globalization, financial development, and carbon emissions: role of inward remittances for top ten remittances receiving countries

Asides from renewable energy consumption, technological innovation and remittances are mostly ignored as critical tools and resources that can be adopted to ameliorate environmental worries, even when remittances have more considerable resource inflow than official development aids. Based on this information, the current research investigates the implications of technological innovation, remittances, globalization, financial development, and renewable energy on CO2 emissions in top remittances-receiving countries from 1990 to 2021. To obtain reliable estimates, we use a battery of advanced econometric techniques and method of moments quantile regression (MMQR) method. The AMG results suggest that innovation, remittances, renewable energy, and financial development alleviate CO2 emanations, whereas globalization and economic growth worsen environmental sustainability by increasing CO2 emissions. Besides, the MMQR results confirm that renewable energy, innovation, and remittances decrease CO2 emissions across all quantiles. A bidirectional causality exists amid financial development and CO2 emanations, and across remittances and CO2 emissions. However, one-way causality flows from economic growth, renewable energy and innovation to CO2. This study suggests some essential measures for ecological sustainability in light of the findings.

Investigating factors affecting global environmental sustainability: evidence from nonlinear ARDL bounds test

The concept of environmental sustainability formed the basis of the Paris Agreement and the United Nations conference in Rio de Janeiro. Empirically, without environmental sustainability, everything else could fall apart or be aimless. This study investigates factors affecting global environmental sustainability spanning 1966Q1 to 2019Q4. However, there are many micro-/macroeconomic factors engendering the environment, and the absence of robust clarity on whether factors such as economic growth, urbanization, trade openness, and energy consumption matter for global environmental sustainability remains a global academic dilemma in the economics literature. This paper utilized the unrestricted nonlinear autoregressive distributed lag (NARDL) bounds test techniques to model their relationship. Furthermore, the study adopted fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS), and canonical cointegrating regression (CCR) methods to test the research hypothesis, catering to the problem of endogeneity and serial correlation. Up-to-date of this study, no empirical study has examined the nexus of these variables within the global framework. The outcomes suggested that (i) NARDL bounds test of cointegration confirmed evidence of long-run and short-run relationships among the variables; (ii) long-run asymmetric relationship was affirmed among the variables; and (iii) DOLS, FMOLS, and CCR models demonstrate that economic growth, energy consumption, and trade openness are positively significantly correlated with environmental sustainability except for economic growth which shows negative and insignificant correlation. These findings validate the protracted argument in literature that these estimated variables are significant for global environmental sustainability. This study recommends that environmental policymakers integrate global economic incentives with favorable regulatory changes for achieving the goals of a global sustainable environment in the long-run equilibrium.