RESUMEN

The present research aims to understand how air pollution can be managed by public authorities, both central and local, starting from citizens' perspectives on the issue. Air quality is a real problem, affecting people at multiple levels. Thus, we introduced the following variables to better understand the problem and to be able to formulate theoretical and practical implications for public management: the involvement of authorities in reducing air pollution; the involvement of citizens in reducing air pollution; financial incentives for citizens and companies for adopting behaviors that reduce air pollution; green investments in the city; the impact of air pollution on the community; and the need for independent bodies to monitor air pollution. The research methodology used is partial least squares structural equation modelling (PLS-SEM) and the required data were gathered from issuing a survey to citizens from the most important cities in Romania where pollution poses important challenges for the community and for the authorities. The results are useful to public managers in local and central institutions for creating better strategies meant to reduce air pollution, increase air quality, and improve the quality of the citizens' lives.

Asunto(s)

Contaminantes Atmosféricos , Contaminación del Aire , Humanos , Contaminación del Aire/prevención & control , Contaminación del Aire/análisis , Transportes , Ciudades , Contaminación Ambiental/análisis , Análisis Multivariante , Contaminantes Atmosféricos/análisis

RESUMEN

Numerous studies have examined the influence of macroeconomic factors on environmental quality in Ghana. However, to the best of our knowledge, there has been no study on the connection between green investments, financial development, and environmental quality in the context of this Sub-Saharan African country. This study was therefore conducted to help fill this gap using annual frequency time series data ranging from 1970 to 2018. In attaining the objectives of this study, robust econometric techniques were employed. From the results, all the variables were first differenced stationary and cointegrated in the long run. The dynamic ARDL simulations technique with the support of the ARDL estimator was employed to examine the elastic effects of the predictors on the response variable, and from the discoveries, green investments improved environmental quality in Ghana both in the long and the short run via carbon dioxide mitigations. However, in both the long and the short run, financial development and energy utilization had a detrimental influence on environmental quality due to their positive influence on carbon dioxide emissions. Moreover, the N-shaped association between national income and environmental pollution was validated for Ghana. On the causal directions amidst the variables, there was no causality between green investments and environmental degradation was evidenced; however, a bidirectional causality between financial development and environmental pollution was also discovered. Also, unidirectional causalities running from national income and energy consumption to environmental degradation were discovered. Based on the findings, the study recommend that investments in green sources should be intensified to help improve environmental quality in Ghana. Furthermore, improving developments in the financial sector is a vital means through which the country could attain its sustainable development goals.

Asunto(s)

Dióxido de Carbono , Desarrollo Económico , Dióxido de Carbono/análisis , Contaminación Ambiental , Ghana , Inversiones en Salud

RESUMEN

Against the backdrop of the exponentially growing trend in green finance investments and the calls for green recovery in the post-COVID world, this study presents the time-frequency connectedness between green and conventional financial markets by using the spillover models of Diebold and Yilmaz (2012) and Baruník and Krehlík (2018). Covering a sample period from January 01, 2008, to July 31, 2020, we aim to explore the dynamics of connectedness between conventional and green investments in fixed income, equity, and energy markets. Additionally, we determine the role of market-wide uncertainty in altering the connectedness structure by performing a subsample analysis for the ongoing COVID-19 pandemic crisis period. Our results show that competing energy investments are not connected, and there is only one-way spillovers from the conventional bonds in the fixed-income investments. Additionally, we observe a low (high) intergroup connectedness for conventional (green) investments. Moreover, the frequency-based analysis shows that connectedness between these competing markets is more pronounced during the short-run. The subsample analysis for the pandemic crisis period shows similar results except for the disconnection between bond markets in the short-run frequency. Our time-varying analysis shows peaks and troughs in the connectedness between climate-friendly and conventional investments that suggest different global events such as the Eurozone Debt Crisis and Shale Oil Revolution drives the association between alternate investments. Similarly, we observe an enhanced connectedness during the recent COVID-19 period, suggesting that financial stability would be a significant factor in determining the smooth transition to green investments.