Pub Date : 2023-01-26DOI: 10.1108/jed-05-2022-0087
Doaa Saman, D. Ismael
PurposeThis paper aims to assess whether digital financial inclusion (DFI) supports Egypt's CO2 reduction efforts. More specifically, this paper examines the dynamics between digital finance, traditional financial inclusion (TFI) and renewable energy on carbon emission in Egypt.Design/methodology/approachThe study employed the autoregressive distributive lag (ARDL) model for Egypt over the period 1990–2020 to estimate an extended STIRPAT model for long-run linkages of DFI, traditional bank-based financial inclusion and renewable energy on carbon emissions, along with other control variables.FindingsThe results showed that using digital financial services limits carbon emissions in the long run but not in the short run, indicating that Egypt is still in its early stage of digitalization (DFI < 0.5). Moreover, renewable energy proved to have a significant negative impact on carbon emissions in the long run, implying that more investments in renewable energy projects will improve environmental quality.Practical implicationsThe findings from this study help policymakers incorporate DFI policies into climate change adaptation strategies and execute better green growth policies that integrate DFI with energy-efficient technologies investments for a better environment.Social implicationsFoster economic growth and sustinabaility.Originality/valueThis study contributes to the literature by quantifying the DFI in Egypt using a two-stage principal component analysis and then examines its impact on carbon emission reduction efforts. In addition, this paper extends the research on the environment from the perspective of digital finance, making it possible to excavate more deeply into the relationship between financial inclusion and carbon emission and draw more explicit policy implications for sustainable economic growth.
{"title":"The effect of digital financial inclusion on the green economy: the case of Egypt","authors":"Doaa Saman, D. Ismael","doi":"10.1108/jed-05-2022-0087","DOIUrl":"https://doi.org/10.1108/jed-05-2022-0087","url":null,"abstract":"PurposeThis paper aims to assess whether digital financial inclusion (DFI) supports Egypt's CO2 reduction efforts. More specifically, this paper examines the dynamics between digital finance, traditional financial inclusion (TFI) and renewable energy on carbon emission in Egypt.Design/methodology/approachThe study employed the autoregressive distributive lag (ARDL) model for Egypt over the period 1990–2020 to estimate an extended STIRPAT model for long-run linkages of DFI, traditional bank-based financial inclusion and renewable energy on carbon emissions, along with other control variables.FindingsThe results showed that using digital financial services limits carbon emissions in the long run but not in the short run, indicating that Egypt is still in its early stage of digitalization (DFI < 0.5). Moreover, renewable energy proved to have a significant negative impact on carbon emissions in the long run, implying that more investments in renewable energy projects will improve environmental quality.Practical implicationsThe findings from this study help policymakers incorporate DFI policies into climate change adaptation strategies and execute better green growth policies that integrate DFI with energy-efficient technologies investments for a better environment.Social implicationsFoster economic growth and sustinabaility.Originality/valueThis study contributes to the literature by quantifying the DFI in Egypt using a two-stage principal component analysis and then examines its impact on carbon emission reduction efforts. In addition, this paper extends the research on the environment from the perspective of digital finance, making it possible to excavate more deeply into the relationship between financial inclusion and carbon emission and draw more explicit policy implications for sustainable economic growth.","PeriodicalId":34568,"journal":{"name":"Journal of Economics and Development","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87243497","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-24DOI: 10.1108/jed-10-2022-0204
Menglan Wang, Manh Hung Do
PurposeThe authors examine the factors affecting households' resilience capacities and the impacts of these capacities on household consumption and crop commercialization.Design/methodology/approachThe authors use panel data of 1,648 households from Thailand collected in three years, 2010, 2013 and 2016. The authors employ an econometric model with an instrumental variable approach to address endogenous issues.FindingsThe study results show that the experience of shocks in previous years positively correlates with households' savings per capita and income diversification. Further, a better absorptive capacity in the form of better savings and a better adaptive capacity in the form of higher income diversification have a significant and positive influence on household expenditure per capita and crop commercialization.Practical implicationsDevelopment policies and programs aiming to improve income, increase savings and provide income diversification opportunities are strongly recommended.Originality/valueThe authors provide empirical evidence on the determinants of resilience strategies and their impacts on local food commercialization from a country in the middle-income group.
{"title":"Reported shocks, households' resilience and local food commercialization in Thailand","authors":"Menglan Wang, Manh Hung Do","doi":"10.1108/jed-10-2022-0204","DOIUrl":"https://doi.org/10.1108/jed-10-2022-0204","url":null,"abstract":"PurposeThe authors examine the factors affecting households' resilience capacities and the impacts of these capacities on household consumption and crop commercialization.Design/methodology/approachThe authors use panel data of 1,648 households from Thailand collected in three years, 2010, 2013 and 2016. The authors employ an econometric model with an instrumental variable approach to address endogenous issues.FindingsThe study results show that the experience of shocks in previous years positively correlates with households' savings per capita and income diversification. Further, a better absorptive capacity in the form of better savings and a better adaptive capacity in the form of higher income diversification have a significant and positive influence on household expenditure per capita and crop commercialization.Practical implicationsDevelopment policies and programs aiming to improve income, increase savings and provide income diversification opportunities are strongly recommended.Originality/valueThe authors provide empirical evidence on the determinants of resilience strategies and their impacts on local food commercialization from a country in the middle-income group.","PeriodicalId":34568,"journal":{"name":"Journal of Economics and Development","volume":"23 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80076708","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-24DOI: 10.1108/jed-11-2022-0228
N. Nguyen
PurposeThe paper examines the impact of foreign direct investment (FDI), either greenfield investment or cross-border mergers and acquisitions (M&As), on domestic entrepreneurship.Design/methodology/approachThis paper uses a panel dataset of 104 countries over ten years from 2006 to 2015 and multiple econometric techniques to control for potential endogeneity bias.FindingsFDI, both in the form of greenfield investment and cross-border M&As, exerts positive spillover that encourages domestic entrepreneurial activities. While the benefit of greenfield investment in entrepreneurship is more pronounced in countries with higher levels of market capacity and institutional support, that of cross-border M&As is not influenced by these factors. On the other hand, human capital is important in promoting the positive effects of both types of FDI, and unless the level of human capital in the host economies reaches a certain threshold, greenfield investment can adversely affect domestic entrepreneurship.Practical implicationsPolicies toward FDI need to focus on promoting the driving forces behind FDI spillover to counteract the potential negative crowding-out effect of FDI.Originality/valueThe paper contributes to the existing literature investigating the impact of FDI on domestic entrepreneurship by distinguishing between the two FDI modes of entry and taking into account the moderating effects of sociopolitical characteristics of the host economies.
{"title":"The effect of FDI on domestic entrepreneurship: the case of greenfield investment and cross-border M&A activities","authors":"N. Nguyen","doi":"10.1108/jed-11-2022-0228","DOIUrl":"https://doi.org/10.1108/jed-11-2022-0228","url":null,"abstract":"PurposeThe paper examines the impact of foreign direct investment (FDI), either greenfield investment or cross-border mergers and acquisitions (M&As), on domestic entrepreneurship.Design/methodology/approachThis paper uses a panel dataset of 104 countries over ten years from 2006 to 2015 and multiple econometric techniques to control for potential endogeneity bias.FindingsFDI, both in the form of greenfield investment and cross-border M&As, exerts positive spillover that encourages domestic entrepreneurial activities. While the benefit of greenfield investment in entrepreneurship is more pronounced in countries with higher levels of market capacity and institutional support, that of cross-border M&As is not influenced by these factors. On the other hand, human capital is important in promoting the positive effects of both types of FDI, and unless the level of human capital in the host economies reaches a certain threshold, greenfield investment can adversely affect domestic entrepreneurship.Practical implicationsPolicies toward FDI need to focus on promoting the driving forces behind FDI spillover to counteract the potential negative crowding-out effect of FDI.Originality/valueThe paper contributes to the existing literature investigating the impact of FDI on domestic entrepreneurship by distinguishing between the two FDI modes of entry and taking into account the moderating effects of sociopolitical characteristics of the host economies.","PeriodicalId":34568,"journal":{"name":"Journal of Economics and Development","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84228114","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-24DOI: 10.1108/jed-10-2022-0201
G. Paudel, H. Gartaula, D. Rahut, S. Justice, T. Krupnik, A. J. Mcdonald
PurposeThis study examines the adoption drivers of scale-appropriate mechanization in Nepal's maize-based farming systems. The authors also assess the contribution of scale-appropriate mechanization to the United Nations (UN) Sustainable Development Goals (SDGs) of zero hunger (SDG2) and no poverty (SDG1).Design/methodology/approachPropensity score matching (PSM) and doubly robust inverse probability-weighted regression adjusted (IPWRA) methods were applied to estimate the effects of mini-tiller adoption. These methods control the biases that arise from observed heterogeneities between mini-tillers users and nonusers.FindingsThe study findings show that farm size, labor shortages, draft animal scarcity, market proximity, household assets and household heads' educational level influence the adoption of mechanization in Nepal. Mechanized farms exhibited enhanced maize productivity, profits and household food self-sufficiency. Reduced depth and severity of poverty were also observed. Nevertheless, these effects were not uniform; very small farms (≤0.41 ha) facing acute labor shortages benefited the most.Research limitations/implicationsThe study results suggest that policymakers in developing nations like Nepal may wish to expand their emphasis on scale-appropriate mechanization to improve farm productivity and household food security, reduce poverty and contribute to the SDGs.Originality/valueThis first-of-its-kind study establishes the causal effects between scale-appropriate farm mechanization and SDG1 (no poverty) and SDG2 (zero hunger) in a developing nation.
{"title":"The contributions of scale-appropriate farm mechanization to hunger and poverty reduction: evidence from smallholder systems in Nepal","authors":"G. Paudel, H. Gartaula, D. Rahut, S. Justice, T. Krupnik, A. J. Mcdonald","doi":"10.1108/jed-10-2022-0201","DOIUrl":"https://doi.org/10.1108/jed-10-2022-0201","url":null,"abstract":"PurposeThis study examines the adoption drivers of scale-appropriate mechanization in Nepal's maize-based farming systems. The authors also assess the contribution of scale-appropriate mechanization to the United Nations (UN) Sustainable Development Goals (SDGs) of zero hunger (SDG2) and no poverty (SDG1).Design/methodology/approachPropensity score matching (PSM) and doubly robust inverse probability-weighted regression adjusted (IPWRA) methods were applied to estimate the effects of mini-tiller adoption. These methods control the biases that arise from observed heterogeneities between mini-tillers users and nonusers.FindingsThe study findings show that farm size, labor shortages, draft animal scarcity, market proximity, household assets and household heads' educational level influence the adoption of mechanization in Nepal. Mechanized farms exhibited enhanced maize productivity, profits and household food self-sufficiency. Reduced depth and severity of poverty were also observed. Nevertheless, these effects were not uniform; very small farms (≤0.41 ha) facing acute labor shortages benefited the most.Research limitations/implicationsThe study results suggest that policymakers in developing nations like Nepal may wish to expand their emphasis on scale-appropriate mechanization to improve farm productivity and household food security, reduce poverty and contribute to the SDGs.Originality/valueThis first-of-its-kind study establishes the causal effects between scale-appropriate farm mechanization and SDG1 (no poverty) and SDG2 (zero hunger) in a developing nation.","PeriodicalId":34568,"journal":{"name":"Journal of Economics and Development","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2023-01-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88662739","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-05DOI: 10.1108/jed-10-2022-0189
Trung V. Vu
Purpose This paper aims to examine the extent to which the cultural dimension of individualism/collectivism matters for international differences in climate change policy performance. This study postulates that individualistic societies, relative to their collectivistic counterparts, are more likely to address global climate change. Design/methodology/approach The main hypothesis is tested using data for a world sample of up to 92 countries. To achieve causal inference, this study isolates exogenous sources of variation in individualistic cultures, based on blood distance to the UK and historical pathogen prevalence. Findings The core results suggest that individualistic countries are characterized by greater climate change policy performance. This study also finds evidence that individualism affects climate change policy adoption through enhancing governance and female political representation. Subnational analyses based on data from the World Values Survey indicate that survey participants with an orientation toward individualism tend to self-report positive attitudes to pro-environmental policies. Research limitations/implications The main findings help improve the understanding of the deep origins of climate change policy performance, which is relevant for formulating policies that help mitigate the consequences of changing climate conditions. Originality/value To the best of the author’s knowledge, this paper is the first study to link cultural traits of individualism and climate change policy performance across countries.
{"title":"Individualism and climate change policies: international evidence","authors":"Trung V. Vu","doi":"10.1108/jed-10-2022-0189","DOIUrl":"https://doi.org/10.1108/jed-10-2022-0189","url":null,"abstract":"Purpose This paper aims to examine the extent to which the cultural dimension of individualism/collectivism matters for international differences in climate change policy performance. This study postulates that individualistic societies, relative to their collectivistic counterparts, are more likely to address global climate change. Design/methodology/approach The main hypothesis is tested using data for a world sample of up to 92 countries. To achieve causal inference, this study isolates exogenous sources of variation in individualistic cultures, based on blood distance to the UK and historical pathogen prevalence. Findings The core results suggest that individualistic countries are characterized by greater climate change policy performance. This study also finds evidence that individualism affects climate change policy adoption through enhancing governance and female political representation. Subnational analyses based on data from the World Values Survey indicate that survey participants with an orientation toward individualism tend to self-report positive attitudes to pro-environmental policies. Research limitations/implications The main findings help improve the understanding of the deep origins of climate change policy performance, which is relevant for formulating policies that help mitigate the consequences of changing climate conditions. Originality/value To the best of the author’s knowledge, this paper is the first study to link cultural traits of individualism and climate change policy performance across countries.","PeriodicalId":34568,"journal":{"name":"Journal of Economics and Development","volume":"37 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135323986","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-27DOI: 10.1108/jed-10-2022-0199
Tim Hartwig, T. Nguyen
PurposeThe authors examine the association between infrastructure and a household's resilience capacity against shocks and the impacts of a household's resilience capacity on household consumption and poverty.Design/methodology/approachThe authors use panel data (collected in 2010, 2013 and 2016) from 1,698 households in Thailand and 1,701 households in Vietnam and employ an instrumental variable approach.FindingsThe authors find that transportation and information and communication technology (ICT) infrastructure help improve households' absorptive capacity in coping with shocks. Furthermore, this capacity can prevent households from reducing consumption and falling into poverty.Practical implicationsRural development policies should attend to transportation and ICT infrastructure.Originality/valueThe authors establish empirical evidence on the association between infrastructure and a household's resilience capacity and the impact of resilience capacity on poverty.
{"title":"Local infrastructure, rural households' resilience capacity and poverty: evidence from panel data for Southeast Asia","authors":"Tim Hartwig, T. Nguyen","doi":"10.1108/jed-10-2022-0199","DOIUrl":"https://doi.org/10.1108/jed-10-2022-0199","url":null,"abstract":"PurposeThe authors examine the association between infrastructure and a household's resilience capacity against shocks and the impacts of a household's resilience capacity on household consumption and poverty.Design/methodology/approachThe authors use panel data (collected in 2010, 2013 and 2016) from 1,698 households in Thailand and 1,701 households in Vietnam and employ an instrumental variable approach.FindingsThe authors find that transportation and information and communication technology (ICT) infrastructure help improve households' absorptive capacity in coping with shocks. Furthermore, this capacity can prevent households from reducing consumption and falling into poverty.Practical implicationsRural development policies should attend to transportation and ICT infrastructure.Originality/valueThe authors establish empirical evidence on the association between infrastructure and a household's resilience capacity and the impact of resilience capacity on poverty.","PeriodicalId":34568,"journal":{"name":"Journal of Economics and Development","volume":"56 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"87543826","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-12-15DOI: 10.1108/jed-07-2022-0119
S. Nghiem, X. Vu
PurposeBasic income (BI) is predicted to be the major economic intervention in response to raising income inequality and accelerating technological progress. Financing is often the first question that arises when discussing a BI. A thorough answer to this question will determine the sustainability of any BI program. However, BI experiments implemented worldwide have not answered this question. This paper explores two options for a BI program in Australia: (1) BI and (2) top-up basic income (TBI).Design/methodology/approachThe authors employ “back-of-the-envelope” calculations with the latest publicly available data on income distribution, the poverty line and the share of income tax in the government revenue to estimate the costs of implementing BI in Australia.FindingsEven without any change in the current tax regulations, the TBI option, which requires a contribution of 2–3% disposable income from net contributors, will guarantee that no Australian family lives under the current national poverty line. The BI for all options is not financially feasible under the current tax and transfer regulations because it requires an additional tax rate of at least 42% of disposable income from net contributors.Practical implicationsThe results of this study can serve as inputs for the design and implementation of BI options in Australia and similar countries.Originality/valueThis is the first paper that examines the macroeconomic effects of BI options in Australia.
{"title":"Basic income in Australia: an exploration","authors":"S. Nghiem, X. Vu","doi":"10.1108/jed-07-2022-0119","DOIUrl":"https://doi.org/10.1108/jed-07-2022-0119","url":null,"abstract":"PurposeBasic income (BI) is predicted to be the major economic intervention in response to raising income inequality and accelerating technological progress. Financing is often the first question that arises when discussing a BI. A thorough answer to this question will determine the sustainability of any BI program. However, BI experiments implemented worldwide have not answered this question. This paper explores two options for a BI program in Australia: (1) BI and (2) top-up basic income (TBI).Design/methodology/approachThe authors employ “back-of-the-envelope” calculations with the latest publicly available data on income distribution, the poverty line and the share of income tax in the government revenue to estimate the costs of implementing BI in Australia.FindingsEven without any change in the current tax regulations, the TBI option, which requires a contribution of 2–3% disposable income from net contributors, will guarantee that no Australian family lives under the current national poverty line. The BI for all options is not financially feasible under the current tax and transfer regulations because it requires an additional tax rate of at least 42% of disposable income from net contributors.Practical implicationsThe results of this study can serve as inputs for the design and implementation of BI options in Australia and similar countries.Originality/valueThis is the first paper that examines the macroeconomic effects of BI options in Australia.","PeriodicalId":34568,"journal":{"name":"Journal of Economics and Development","volume":"13 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"77706827","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-20DOI: 10.1108/jed-08-2022-0136
Mui Kuen Yuen, Thanh Ngo, Tu D. Q. Le, Tin H. Ho
PurposeThis study investigated the impacts of the environment, social and governance (ESG) and its components on global bank profitability considering the COVID-19 outbreak.Design/methodology/approachThis study used a system generalized method of moments (GMM) proposed by Arellano and Bover (1995) to investigate the relationship between ESG and bank profitability using an unbalanced sample of 487 banks from 51 countries from 2006 to 2021.FindingsThe findings generally found that ESG activities may reduce bank profitability, thus supporting the trade-off hypothesis that adopting ESG standards could increase bank costs while lowering profitability. In addition, there is a U-shaped relationship between ESG and bank profitability, suggesting that ESG activities can help improve bank performance in the long term. Such effect is the first time observed in the global banking sector. This study’s results are robust across different models and settings (e.g. developed vs developing countries, different levels of profitability, and samples with vs without US banks).Practical implicationsThis study provides empirical evidence to support the sustainable development policy which is implemented by many countries. It also provides empirical incentives for bank managers to be more ESG-oriented in their activities.Originality/valueThis study provides a better understanding of the roles of ESG activity and its components in the global banking system, considering the recent crises.
{"title":"The environment, social and governance (ESG) activities and profitability under COVID-19: evidence from the global banking sector","authors":"Mui Kuen Yuen, Thanh Ngo, Tu D. Q. Le, Tin H. Ho","doi":"10.1108/jed-08-2022-0136","DOIUrl":"https://doi.org/10.1108/jed-08-2022-0136","url":null,"abstract":"PurposeThis study investigated the impacts of the environment, social and governance (ESG) and its components on global bank profitability considering the COVID-19 outbreak.Design/methodology/approachThis study used a system generalized method of moments (GMM) proposed by Arellano and Bover (1995) to investigate the relationship between ESG and bank profitability using an unbalanced sample of 487 banks from 51 countries from 2006 to 2021.FindingsThe findings generally found that ESG activities may reduce bank profitability, thus supporting the trade-off hypothesis that adopting ESG standards could increase bank costs while lowering profitability. In addition, there is a U-shaped relationship between ESG and bank profitability, suggesting that ESG activities can help improve bank performance in the long term. Such effect is the first time observed in the global banking sector. This study’s results are robust across different models and settings (e.g. developed vs developing countries, different levels of profitability, and samples with vs without US banks).Practical implicationsThis study provides empirical evidence to support the sustainable development policy which is implemented by many countries. It also provides empirical incentives for bank managers to be more ESG-oriented in their activities.Originality/valueThis study provides a better understanding of the roles of ESG activity and its components in the global banking system, considering the recent crises.","PeriodicalId":34568,"journal":{"name":"Journal of Economics and Development","volume":"120 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83670262","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-20DOI: 10.1108/jed-07-2022-0127
Manh-Hung Nguyen, Chon Van Le, S. Atkinson
PurposeThe paper investigates the production inefficiency of US electricity industry in the wake of restructuring and emission reduction regulations.Design/methodology/approachThe study estimates a multiple-input, multiple-output directional distance function, using six inputs: fuel, labor, capital and annualized capital costs of sulfur dioxide (SO2), nitrogen oxides (NOX) and particulate removal devices, two good outputs – residential and industrial-commercial electricity and three bad outputs – SO2, carbon dioxide (CO2) and NOX emissions.FindingsThe authors find that restructuring in electricity markets tends to improve the technical efficiency (TE) of deregulated utilities. Deregulated utilities with below average NOX control equipment tend to invest less on these devices, but above-average utilities do the opposite. The reverse applies to particulate removal devices. The whole sample spends more on NOX, particulate and SO2 control systems and reduces its electricity sales slightly. Increased investments in SO2 and NOX control equipment do not reduce SO2 and NOX emissions, but expansions of particulate control systems cut down SO2 emissions greatly. Stricter environmental regulations have probably shifted the production frontier inwards and the utilities farther from the frontier over time.Practical implicationsRestructuring and environmental regulations do not make all utilities invest more in emission control systems. The US government should devise other schemes to achieve this goal.Originality/valueThe paper unveils heterogeneous reactions of US electric utilities in the wake of restructuring and emission regulations.
{"title":"The production inefficiency of US electricity industry in the face of restructuring and emission reduction","authors":"Manh-Hung Nguyen, Chon Van Le, S. Atkinson","doi":"10.1108/jed-07-2022-0127","DOIUrl":"https://doi.org/10.1108/jed-07-2022-0127","url":null,"abstract":"PurposeThe paper investigates the production inefficiency of US electricity industry in the wake of restructuring and emission reduction regulations.Design/methodology/approachThe study estimates a multiple-input, multiple-output directional distance function, using six inputs: fuel, labor, capital and annualized capital costs of sulfur dioxide (SO2), nitrogen oxides (NOX) and particulate removal devices, two good outputs – residential and industrial-commercial electricity and three bad outputs – SO2, carbon dioxide (CO2) and NOX emissions.FindingsThe authors find that restructuring in electricity markets tends to improve the technical efficiency (TE) of deregulated utilities. Deregulated utilities with below average NOX control equipment tend to invest less on these devices, but above-average utilities do the opposite. The reverse applies to particulate removal devices. The whole sample spends more on NOX, particulate and SO2 control systems and reduces its electricity sales slightly. Increased investments in SO2 and NOX control equipment do not reduce SO2 and NOX emissions, but expansions of particulate control systems cut down SO2 emissions greatly. Stricter environmental regulations have probably shifted the production frontier inwards and the utilities farther from the frontier over time.Practical implicationsRestructuring and environmental regulations do not make all utilities invest more in emission control systems. The US government should devise other schemes to achieve this goal.Originality/valueThe paper unveils heterogeneous reactions of US electric utilities in the wake of restructuring and emission regulations.","PeriodicalId":34568,"journal":{"name":"Journal of Economics and Development","volume":"46 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2022-10-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91207150","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-10-07DOI: 10.1108/jed-05-2021-0072
Daaki Sadat Ssekibaala, Muhammad Irwan Ariffin, Jarita Duasa
PurposeThis study investigates the relationship between economic growth international trade and environmental degradation in Sub-Saharan Africa (SSA) focussing on the validity of the environmental Kuznets hypothesis (EKC), the pollution havens hypothesis (PHH) and the factor endowment hypothesis (FEH).Design/methodology/approachThe study uses annual data for 41 SSA countries for the period between 1990 and 2017 and employs the bias-corrected least square dummy variable (LSDVC) estimation techniques. Environmental degradation is indicated by carbon dioxide (CO2) and fine particulate matter (PM2.5) emissions as well as deforestation.FindingsThe results confirm the validity of the EKC hypothesis for PM2.5 emissions and deforestation but not for CO2 emissions. The results also indicate that international trade reduces deforestation and that both the PHH and FEH are valid for CO2 emission but not for PM2.5 emissions and deforestation.Practical implicationsIn this paper, the authors are able to illustrate that both economic growth and international trade can be harmful to the environment if unchecked. Therefore, conclusion of this study offers policy options through which SSA countries can achieve desired economic growth goals without affecting environmental quality. The study can be a benchmark for environmental policy in the region.Originality/valueThe authors provide an in-depth discussion of the growth-trade-environmental degradation nexus in SSA. The validity of the EKC, PHH, and FEH confirm that economic growth remains a threat to the local natural environment in SSA. Hence, the need for a trade-off between economic growth needs and environmental degradation and understanding where to compromise to achieve SSA's economic development priorities.
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