RESUMEN
This study investigates the influence of economic policy uncertainty on climate change in selected African countries within asymmetric settings. Although previous research has examined the impact of various economic factors on climate change, the asymmetric effects of economic policy uncertainty have not been thoroughly explored, particularly in African countries. We analyze annual data spanning from 1980 to 2017 by utilizing three models: Panel Pooled Mean Group-Autoregressive distributed lag model (ARDL-PMG), Panel Pooled Mean Group-non-linear autoregressive distributed lag model (NARDL-PMG), and Dumitrescu-Hurlin asymmetric causality tests. According to the results of ARDL-PMG estimation, economic policy uncertainty has a detrimental impact on climate change in the long run. However, the NARDL-PMG estimation suggests that a positive shock in economic policy uncertainty negatively affects long-term climate change mitigation. However, a negative shock has a beneficial effect on climate change in the long term. In African nations, positive and negative changes in economic policy uncertainty failed to generate any significant climate change effects in the short run. The results also reveal that both positive and negative shocks in economic policy may cause climate change in a one-way direction. Based on the findings of our study, we recommend that African policymakers implement programs aimed at reducing economic policy uncertainties to help mitigate the effects of climate change.
Asunto(s)
Cambio Climático , Incertidumbre , ÁfricaRESUMEN
There is a great linkage between environmental mitigation and economic growth. Several studies stretch this linkage as an environmental Kuznets curve (ECK) association. This practice revisits the linkage between environmental degradation and remittance inflow for the circumstance of the top ten remittance-receiving economies by embracing a fresh process of panel quantile regression (PQR) method to achieve the country-specific anatomy over the period between 1980 and 2018. Our research affords a more respectful seeing of the heterogeneous effects of the technological effects and remittance inflow on environmental pollution in the top ten remittance-receiving economies. Precisely, our analysis of PQR findings affords the obviousness of an inverted N-shaped EKC hypothesis of the technological effects of financial development on environmental quality from the 10th to 60th quantile. As regards the technical effects of remittance inflow, an N-shaped EKC has been spotted across from the 40th to 60th quantile. Finally, the interaction effects of financial development and remittance inflow pursue negative and significant effects on carbon dioxide emissions across all quantiles. Some injunctions that were most built-in in this introduced survey are the top ten remittance-receiving economies that ought to line programs that inhibit investors to involve remittance inflows to perform sustainability surrounding.
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Desarrollo Económico , Contaminación Ambiental , Contaminación Ambiental/análisis , Análisis de Regresión , Dióxido de Carbono/análisisRESUMEN
Climate change mitigation has led to a recent question regarding many policymakers and sustainable development goals (SDGs) of the Kingdom of Saudi Arabia (KSA) for Vision 2030. In 2019 and 2020, COVID-19 mitigation was the only issue the world raised questions about; for example, the KSA and the rest of the world are working diligently to meet COVID-19 mitigation targets. To assess policy supervision in terms of the ability to achieve COVID-19 targets, this survey examines the operators necessary to achieve the SDGs in regard to improving COVID-19 mitigation and increasing economic growth. In particular, we examine COVID-19 mitigation under the setting of an N-shaped environmental Kuznets curve (N-shaped EKC) in the KSA. To identify the COVID-19 shock in the KSA, the effects of oil price and oil rent on CO2 emissions are examined. The results of the autoregressive distributed lag (ARDL) and non-autoregressive distributed lag (NARDL) bound testing approach indicate that due to the COVID-19 pandemic, the inverted N-shaped EKC hypothesis is validated in the long term. Empirically, we find that oil price strengthens the relationship of level, quadratic and cubic of economic growth and environmental quality while oil rent weakens this relationship. Additionally, the long-term incidences of positive shocks on oil price in the presence of COVID-19 outbreak are not similar to the negative shock to CO2 emissions, implying the existence of asymmetric impacts on carbon dioxide emissions in long-term forms. Our research implies that an oil price shock could be judicious for macro guidance of the economy in the KSA. Our findings are helpful for policymakers and investors in terms of their settlement planning because they can be used to evaluate prospective courses of economic profitability under the COVID-19 shock.
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COVID-19 , Desarrollo Económico , COVID-19/economía , COVID-19/prevención & control , Dióxido de Carbono/análisis , Humanos , Pandemias , Estudios Prospectivos , Arabia SauditaRESUMEN
This study applies asymmetric causality to renewable energy (REC), carbon dioxide emissions (CE), and real GDP using non-linear broadcasting between these variables through the non-linear autoregressive distributed lag model (NARDL) to examine the short- and long-run asymmetries in the inconsistency of greenhouse gas emissions among the variables and to unpack the asymmetric causality of selective variables through positive and negative shocks for time series data from the Kingdom of Saudi Arabia between 1990 and 2014. The bounds cointegration test shows the existence of long-term dealings among all considered variables in the presence of asymmetry. The non-linear asymmetric causality test shows that negative shocks in carbon dioxide emissions had only positive impacts on real GDP in the long-term but are unobservable in the short-term. Additionally, the short- and the long-term incidences of positive shocks on real GDP are not similar to the negative shock to REC, implying the existence of asymmetric impacts on REC in both short- and long-term forms. Finally, the asymmetric causal relationship from carbon dioxide emissions to REC is neutral in the long-term. Both positive and negative shocks to REC consistently had an adverse effect on CE in the long-term. The presence of asymmetry between economic growth, CE, and REC could be of major substantial for more helpful policymakers and the action plan of sustainable development goals (SDGs) in Saudi Arabia.
Asunto(s)
Dióxido de Carbono/análisis , Desarrollo Económico , Dinámicas no Lineales , Energía Renovable/economía , Gases de Efecto Invernadero/análisis , Arabia SauditaRESUMEN
This research examines the causality (For the remainder of the paper, the notion of causality refers to Granger causality.) links among renewable energy consumption (REC), CO2 emissions (CE), non-renewable energy consumption (NREC), and economic growth (GDP) using an autoregressive distributed lag model based on the pooled mean group estimation (ARDL-PMG) and applying Granger causality tests for a panel consisting of 22 African countries for the period between 1990 and 2011. There is unidirectional and irreversible short-run causality from CE to GDP. The causal direction between CE and REC is unobservable over the short-term. Moreover, we find unidirectional, short-run causality from REC to GDP. When testing per pair of variables, there are short-run bidirectional causalities among REC, CE, and GDP. However, if we add CE to the variables REC and NREC, the causality to GDP is observable, and causality from the pair REC and NREC to economic growth is neutral. Likewise, if we add NREC to the variables GDP and REC, there is causality. There are bidirectional long-run causalities among REC, CE, and GDP, which supports the feedback assumption. Causality from GDP to REC is not strong for the panel. If we test per pair of variables, the strong causality from GDP and CE to REC is neutral. The long-run PMG estimates show that NREC and gross domestic product increase CE, whereas REC decreases CE.
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Dióxido de Carbono , Desarrollo Económico , África , Causalidad , Producto Interno Bruto , Energía Renovable/economíaRESUMEN
This study complements existing literature by examining the nexus between energy consumption (EC), CO2 emissions (CE), and economic growth (GDP; gross domestic product) in 24 African countries using a panel autoregressive distributed lag (ARDL) approach. The following findings are established. First, there is a long-run relationship between EC, CE, and GDP. Second, a long-term effect from CE to GDP and EC is apparent, with reciprocal paths. Third, the error correction mechanisms are consistently stable. However, in cases of disequilibrium, only EC can be significantly adjusted to its long-run relationship. Fourth, there is a long-run causality running from GDP and CE to EC. Fifth, we find causality running from either CE or both CE and EC to GDP, and inverse causal paths are observable. Causality from EC to GDP is not strong, which supports the conservative hypothesis. Sixth, the causal direction from EC to GDP remains unobservable in the short term. By contrast, the opposite path is observable. There are also no short-run causalities from GDP, or EC, or EC, and GDP to EC. Policy implications are discussed.