Measuring the Impact of Industrialization and Financial Development on Water Resources: A Case Study of Pakistan

The objective of the study examines the impact of industrialization and financial development on water resources, in the specific context of Pakistan. Data set from 1975-2009 are taken for time series analysis. The result reveals that economic growth positively linked with the water resource, as water plays a pivotal role in the economic development of a country. Thus limiting this resource would affect the process of economic growth. Industrial processes have a negative environmental impact which causing water pollution. Financial development has an indirect effect on water consumption, as it shows that private firms finds more funding opportunities in a country, therefore, avoid dirty industry game.Economics growth, financial development, industrialization, water resource, cointegration, bonds test, Pakistan.

The dynamic relationship among economic growth, energy consumption and environment in Iran

In recent decades, environmental risks and hazards are more visible. These damages caused by a combination of factors such as population growth, economic growth, energy, and industrial activities. This study discusses long-run equilibrium relationship, short-term dynamic relationships and causal relationships between energy consumption, economic growth and the environment (carbon dioxide emissions) in Iran, by using time series data during 1971-2009, through Co integration test.Co integration test demonstrates that a long-run relationship exists among the three variables. It is obvious that carbon dioxide emissions will be increased by positive shock of energy consumption and economic growth, by a one percent increase in energy consumption and economic growth, carbon dioxide emissions will increase 55 and 43 percent respectively. The result of this study is important because of reducing carbon dioxide emissions from energy use and economic development matters. In other words, to reduce carbon dioxide emissions, the government should reduce the amount of Petroleum products in energy consumption, and it also improves the efficiency of using energy

The Impact of Economic Growth on CO2 Emissions and Energy Consumption -In the Gulf Cooperation Council Countries-

학위논문(석사)--서울대학교 대학원 :환경대학원 환경계획학과,2019. 8. Hong, Jong Ho.The research aims to test the Environmental Kuznets Curve (EKC) hypothesis and analyses the causality relationship between carbon (CO2) emissions, energy consumption, and Gross Domestic Product (GDP) per capita in the case of Gulf Cooperation Council – GCC – countries using the time series data for the period 1990–2014. Using the Vector Error Correction Model (VECM), it indicates that the EKC hypothesis does not hold in five of the six countries, and the inverted U-shaped curve was identified only in the UAE, regarding the direction of causality with Granger Causality and Vector Auto-Regressive (VAR) tests. It appears to be a unidirectional causality going from economic growth represented in GDP per capita to energy consumption. Such results suggest that reducing energy consumption and controlling CO2 emissions policies could be adopted in the GCC economies without much concern about its effects on economic growth.Abstract ................................................................................... i Chapter 1. Introduction ........................................................... 1 1.1. Purpose of Research ................................................................... 5 1.2. Structure of Research ................................................................. 6 Chapter 2. Current Status of GCC Countries............................ 7 2.1. Economic Growth ............................................................................. 7 2.2. Energy Consumption ........................................................................ 9 2.3. CO2 Emissions ...............................................................................10 Chapter 3. Literature Review ............................................... 13 3.1 Studies related to the EKC hypothesis.........................................13 3.2. Studies related to energy consumption and economic growth ..16 3.2.1. Single country studies on economic growth- energy consumption nexus..................................................................................................17 3.2.2. Multi-country studies on economic growth–energy consumption nexus..................................................................................................19 3.3. Studies related to the three variables .........................................21 3.4. Studies related to the GCC countries case .................................22 Chapter 4. Data Sources and Model...................................... 25 4.1. Data Sources..................................................................................25 4.2. Theoretical Context of the Model................................................30 Chapter 5. Methodology....................................................... 31 5.1. Cross-Sectional Test.....................................................................31 5.2. Unit Root Test ...............................................................................32 5.3. Causality Tests..............................................................................32 5.3.1. Granger Causality Test............................................................33 5.3.2. Vector Auto-Regressive (VAR) test........................................33 5.4. Vector Error Correction Model....................................................34 Chapter 6. Empirical Results ................................................ 35 6.1. Finding from CSD Test .................................................................35 6.2. Finding from Unit Root Test.........................................................35 6.3. Finding from Causality Tests .......................................................37 6.4. Findings from EKC ........................................................................38 6.4.1. EKC hypothesis not confirmed:................................................39 6.4.2. EKC hypothesis confirmed:......................................................40 6.4.3. EKC hypothesis not found:.......................................................40 Chapter 7. Policy Implications.............................................. 42 7.1. Over the literature.........................................................................43 7.2. Related to the causality test.........................................................44 7.2.1. Residential Sectors ..................................................................45 7.2.2. Commercial Sector...................................................................47 7.2.3. Industrial Sector.......................................................................48 7.2.4. Transportation Sector..............................................................49 7.3. Related to EKC test.......................................................................49 7.3.1. UAE Case.................................................................................50 7.3.2. Recommendations .................................................................... 54 Chapter 8. Conclusion.......................................................... 60 References.......................................................................... 62 Appendix............................................................................. 68 Appendix (I): Literature View..............................................................68 EKC's Literature Summery ................................................................68 Literature studying the EG- EC nexus .............................................. 69 Literature studying GCC countries ....................................................70 Literature studying the three variables .............................................71 Appendix (II): Data for GCCs Current Situation ................................72 Total final consumption of energy (Mtoe)..........................................72 CO2 emissions (million tonnes ) by sector in 2016.............................72 CO2 emissions (million tonnes ) 1971- 2016.....................................73 Electricity generation in Gigawatt hours (GWh ) 1973- 2016...........74 Total primary energy supply (Mtoe)..................................................75 Appendix (III): Data for econometric analysis....................................76 Bahrain ............................................................................................... 76 Kuwait ................................................................................................ 77 Qatar ..................................................................................................78 Oman .................................................................................................. 79 Saudi Arabia.......................................................................................80 UAE .................................................................................................... 81Maste

Green credit and PM2.5: a time-varying perspective of China

The causal link between green credit (GC) and particulate matter 2.5 (PM2.5) is discussed this paper for the case of China using the bootstrap rolling-window Granger causality test. The fresh empirical results show that GC had both positive and negative influences on PM2.5 in two separate sub-sample periods. In turn, PM2.5 positively and consistently affected GC in two sub-sample periods. In addition, time periods without causalities were also found in the sample. These inconsistent conclusions do not provide strong support for the hypothesis that GC and PM2.5 would affect each other throughout the whole sampling period. Government intervention, public environmental awareness, the domestic economic situation, and other factors were fully considered in interpreting the deviations in certain periods. Thus, the major contribution of this study is that the linear assumption of causality was relaxed, which is more in line with China’s realities. Some policies are suggested to further strengthen the construction of the GC framework and establish a multiparticipant GC system. Moreover, PM2.5 is an important reference and can be incorporated into enterprises’ green financing strategy

The relationship between economic growth and carbon emissions in G-7 countries: evidence from time-varying parameters with a long history

This paper re-investigates the time-varying impacts of economic growth on carbon emissions in the G-7 countries over a long history. In doing so, the historical data spanning the period from the 1800s to 2010 (as constructed) for each country is examined using the time-varying cointegration and bootstrap-rolling window estimation approach. Unlike the previous environmental Kuznets curve (EKC) studies, using this methodology gives us avenue to detect more than one, two, or more turning points for the economic growth-carbon emissions nexus. The empirical findings show that the nexus between economic growth and carbon emission seems over a long history to be M-shaped for Canada and the UK; N-shaped for France; inverted N-shaped for Germany; and invertedM-shaped (W-shaped) for Italy, Japan, and the USA. In addition, the possible validity of EKC hypothesis is examined for both the pre-1973 and post-1973 sub-periods. Based on this investigation, we found that an inverted U-shaped is confirmed only for the pre-1973 period in France, Italy, and the USA. These empirical evidences provide new insights to policy makers to improve environmental quality using economic growth as an economic tool for the long run by observing changes in the environmental impact of this growth from year to year

Tourism carbon Kuznets-curve hypothesis: a systematic literature review and a paradigm shift to a corporation-performance perspective

Since the introduction of the carbon Kuznets-curve hypothesis in the mid-1990s, the inverted U–shaped relationship between economic development and carbon emissions has remained a subject of debate in the social sciences. We engage tourism research in this debate, in a fourfold manner. First, we offer a systematic literature review concerning the role of tourism in the carbon Kuznets-curve hypothesis using a protocol-based reporting process. Second, we present the level of consensus with the carbon Kuznets-curve hypothesis and the conceptual gaps in the identified literature (n = 22). Third, we introduce an emerging concept, offering a novel tourism corporate/performance orientation to the carbon Kuznets-curve hypothesis. Fourth, we provide evidence of empirical validity using different econometric techniques from an international tourism corporation (n = 86) data set (2005–2018). The inverted U–shaped relationship between measures of economic and carbon performance among tourism corporations is a robust result under many different specifications

The Financial Development-Environmental Degradation Nexus in the United Arab Emirates: The Importance of Growth, Globalization and Structural Breaks

This article revisits the nexus between financial development and environmental degradation by incorporating economic growth, electricity consumption and economic globalization in the CO2 emissions function for the period 1975QI-2014QIV in the United Arab Emirates. We apply structural break and cointegration tests to examine unit root and cointegration between the variables. Further, the article also uses the Toda-Yamamoto causality test to investigate the causal relationship between the variables and tests the linkages of the robustness of causality by following the innovative accounting approach. Our empirical analysis shows cointegration between the series. Financial development increases CO2 emissions. Economic growth is positively linked with environmental degradation. Electricity consumption improves environmental quality. Economic globalization affects CO2 emissions negatively. The relationship between financial development and CO2 emissions is U-shaped and inverted N-shaped. Further, financial development leads to environmental degradation and environmental degradation in turn leads to financial development in the Granger sense

The Financial Development-Environmental Degradation Nexus in the United Arab Emirates: The Importance of Growth, Globalization and Structural Breaks

This article revisits the nexus between financial development and environmental degradation by incorporating economic growth, electricity consumption and economic globalization in the CO2 emissions function for the period 1975QI-2014QIV in the United Arab Emirates. We apply structural break and cointegration tests to examine unit root and cointegration between the variables. Further, the article also uses the Toda-Yamamoto causality test to investigate the causal relationship between the variables and tests the linkages of the robustness of causality by following the innovative accounting approach. Our empirical analysis shows cointegration between the series. Financial development increases CO2 emissions. Economic growth is positively linked with environmental degradation. Electricity consumption improves environmental quality. Economic globalization affects CO2 emissions negatively. The relationship between financial development and CO2 emissions is U-shaped and inverted N-shaped. Further, financial development leads to environmental degradation and environmental degradation in turn leads to financial development in the Granger sense

Essays on Contemporary Issues in Macroeconomics

This PhD thesis is the result of a three-year research process carried out as part of the completion of the PhD program in Economics and Political Economy at the University of Genoa. The thesis is composed of three chapters/essays, and the common link that ties them together is their relevance in the field of contemporary macroeconomics. Each chapter addresses from a different macroeconomic perspective, theoretical or applied, a high impact topic identified in the literature. More precisely, each essay of this thesis builds on a contemporary and relevant issue in the field of macroeconomics and, in particular, in the subfields of environmental economics, monetary economics and at the intersection between monetary economics and finance. The issue covered in each essay is approached from an original and novel perspective, contributing to the advancement of knowledge and providing specific policy recommendations. The last two chapters are highly related, since they are applied essays and both of them analyze the asymmetric effects of monetary policy across business cycle phases and resort to the same macroeconometric empirical strategy (i.e. local projections). Specifically, the thesis consists of the following three essays/chapters: 1. Economic growth, environmental constraints and convergence: the declining growth premium for developing economies. 2. Asymmetric responses of the markup to monetary shocks over the business cycle 3. Uncertainties under monetary tightening and easing shocks and different market states