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ID:
178831
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| Summary/Abstract |
This study scrutinizes the impact of globalization, non-renewable energy consumption, and economic growth on CO2 emission for selected South Asian economies during 1985–2018 under the EKC framework. For this purpose, we apply a fully modified ordinary least square (FMOLS) technique. The empirical findings of this study identify that globalization is positively associated with CO2 emission. The results also indicate that non-renewable energy consumption increasing environmental pollution. Moreover, the results confirm the EKC hypothesis in the South Asian region; this means that at the early stages of development, when economic growth increases, environmental pollution also increases, but environmental degradation starts to decrease with the increases in economic growth after the threshold point. The empirical outcomes suggest that the government should subsidize and promote renewable energy sources to tackle the problem of environmental degradation.
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| 2 |
ID:
181474
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| Summary/Abstract |
The government intervention directly achieves the strategic variation of industrial sector. Following this, the current study analyzes the impact of government concerns for green environment on investment decisions of industrial sector and how this effect changes across the countries that have developed financial sector. The sample size consists of financial statistics for the year 2007–2016 of non-financial sector firms from 11 selected economies of Asia. We employ panel EGLS (estimated generalized least square) and two-step system GMM (generalized method of moments) model due to problem of heteroskedasticity and endogeneity relatively. The statistical outputs of both models imply that carbon taxation has a negative impact while other green environmental strategies i.e., renewable energy utilization, production of electricity from renewable energy sources, and green growth productivity positively and significantly influence real investment decisions. Additionally, the statistical analysis illustrates the moderating impact of financial sector development on aforementioned relationship. The current analysis corroborates the thoughts of Porter's hypothesis and direct the important policy recommendations regarding environmental policies and their dynamical role in industrial sector investment decisions. Industrial sector should transform its energy needs from conventional energy production sources to renewable energy production due to positive impacts of renewable sources on investment.
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| 3 |
ID:
183060
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| Summary/Abstract |
Studies on renewable energy, energy efficiency, and sustainability appear to have accelerated worldwide in response to the need for alternate energy sources against conventional fossil-based sources. This work contributes to the current body of information by estimating the effects of renewable energy and energy efficiency on technological innovation using panel data from 1995 to 2017 and employing the instrumental variable fixed effect technique. The results indicate that renewable energy and energy efficiency promote innovation performance at the aggregate and disaggregate levels. A one percent increase in renewable energy will lead to about 0.437% increases in trademark and 0.114% increase in the patent application, respectively. Increasing energy efficiency promotes trademark by 0.029% and patent by 0.054%, respectively. Another important finding illustrates the moderating impact of investment, trade and human development on the aforementioned relationship. A series of robustness checks support our essential findings. The research supports Porter's hypothesis and directs key policy suggestions regarding environmental policies and promotes policy measures for the use of cleaner energies; Décentralisation of the energy industry to give more room for private sector participation; financial incentives to energy consumers for using renewable energy; issuance of green certificates and intensification of feed-in-tariffs; introduction of the polluter-pay principles for accountable.
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