Economic Change and Restructuring最新文献

The objective of this paper is to assess the dynamic volatility connectedness between fossil energy, clean energy, and major assets i.e., Bonds, Bitcoin, Dollar index, Gold, and Standard and Poor's 500 from September 17, 2014 to October 11, 2022. The main motivation of the study relates to examining the dynamic volatility connectedness mentioned during periods of important events such as the recent coronavirus pandemic and the Russia–Ukraine conflict which has shown the vulnerability of economic and financial assets, energy commodities, and clean energy. The novel Dynamic Conditional Correlation-Generalized Autoregressive Conditional Heteroskedasticity (DCC-GARCH) approach is employed for the investigation of the sample period mentioned. Empirical analysis reveals that both the total and net volatility connectedness between assets is time-varying. The highest connectedness among the assets is observed with the onset of the coronavirus (COVID-19) pandemic, and it increases with some important international events, such as the Russia–Ukraine conflict, the referendum of Brexit, China–US trade war, and Brexit day. On average, the result shows that 32.8% of the volatility in one asset spills over to all other assets. The DCC-GARCH results also indicate that crude oil, bonds, and Bitcoin act as almost pure volatility transmitters, whereas the Dollar index, gold, and S&P500 act as volatility receivers. On the other hand, clean energy is found neutral to external shocks until the first quarter of 2020 and after that time, it starts to behave as a volatility transmitter. Based on the obtained results, we offer some specific policy implications that are beneficial to the US economy and other countries.

Graphical Abstract

Dynamic volatility connectedness between fossil energy, clean energy, and major assets (Bonds, Bitcoin, Dollar index, Gold, and Standard and Poor's 500)

This study focuses on establishing a low-carbon economic model across 20 developing Asian economies using the triple bottom line (TBL) framework. Analyzing annual data from 2000 to 2021 reveals key insights. The Consumer Price Index (CPI) significantly impacts the Green Growth Index (GGI), with a 1% CPI increase associated with a 0.48% long-term and 0.36% short-term GGI decrease. Increased foreign direct investment (FDI) acts as a deterrent to GGI motivation, with a 1% rise linked to a 0.32% long-term and 0.25% short-term GGI decrease. Social variables show nuanced impacts, while environmental factors highlight carbon footprint as a barrier and forest land surface as a motivator. Recommendations include adopting a TBL-informed approach, addressing inflation, promoting sustainable FDI, prioritizing social development, and implementing measures to curb carbon emissions, alongside encouraging afforestation and conservation initiatives.

This research assesses the impact of information communication technology (ICT) service exports on carbon (CO₂) emissions and examines regulatory quality’s moderating role. The study sample comprises OECD countries’ data from 2001 to 2019. Random-effect generalized least-square regression, feasible generalized least square, and panel-corrected standard error models are used for the estimations. The results show that ICT service exports are negatively related to CO₂ emissions, and the negative effect of ICT on CO₂ emissions will be enhanced when regulatory quality is higher. OECD countries should give greater support to improve the innovation capabilities of ICT companies and implement more sound policies and regulations to achieve sustainable development goals and carbon neutrality.

Abstract

A cross-sectional-based study was conducted in Torghar Pakistan to analyze the association between impacts of poor governance and household food security through sociological lens. A sample size of 379 household heads was chosen randomly for data collection through structured questionnaire. The collected data was then analyzed in terms of bivariate and multivariate analyses, and binary logit model. At bivariate analysis, the study found that inadequate governance, political instability in terms of shortage of food supply chain, smuggling of food commodities had open new vistas toward starvation and household food insecurity. At multivariate analysis, the family composition has vivid association between household food security and poor governance. Although religious education and lower level of education deteriorate the existing food security at household level were also explored. Lastly, at binary logistic regression model depicted that increased in poor governance influence household food security negatively. Thus, the government should collaborate with local political leaders to identify those lacunas and institutional weakness that affect the good governance patterns in terms of smuggling and nepotism which deteriorate the existing channel of food supply chain during militancy were put forwarded some of the recommendations in light of the present study.

The relationship between energy technology R&D and energy consumption has remained an unsettled empirical issue. This study investigates whether accumulative energy technology R&D investments have contributed to decreases in final energy and fossil fuel consumption in 19 OECD countries over the period 1975–2020. We ask whether an increase in energy technology R&D stocks has contributed to decreases in final energy and fossil fuel consumption and hence may effect energy savings. Methodologically, we treat the accumulation and depreciation of energy technology R&D investments as R&D stocks, and we use state-of-the-art estimation methods for dealing with cross-sectional dependence, nonstationarity, heterogeneity and time-varying coefficients that often plague panel-time-series models. Across our heterogeneous dynamic models, we find those estimators that properly account for cross-sectional dependence yield negative and significant coefficients on energy technology R&D stocks. Our time-varying estimates on energy technology R&D stocks confirm the above findings and feature two turning points—i.e., the 1979 oil shock, the Fukushima accident—in effecting energy savings. These two turning points provide strong evidence that the sample countries are subject to common shocks. The evidence we present supports the environmental sustainability orientated view that energy technology R&D is playing a prominent role in making energy savings.

This study delves into the complicated relationship between environmental performance and support for energy transition, emphasizing how ecological change influences this process. The analysis covers the period from 2005 to 2021, which includes a time of major worldwide changes in geopolitics, financial markets, and environmental concerns. In order to examine the complex and diverse dynamics, the study uses the time-varying vector auto-regression model, an advanced methodology specifically developed to capture the dynamic interactions between variables as they change over time. Drawing from various scholarly works, this study discusses how an effective environmental performance framework can contribute to and guarantee the successful transition toward sustainable energy practices. By clarifying the synergies between environmental performance and energy, this study provides valuable input into an urgent discussion of designing resilient future sustainability models in terms of energy.

There is now a global consensus on the imperative need for energy transition and sustainability. Green innovation has emerged as a key driver to achieve these goals, and governments have recognized the importance of facilitating it. Within this context, we offer a unique perspective by examining the impact of political promotion incentives on green innovation among executives of state-owned enterprises (SOEs), shedding light on the government’s role in fostering energy transition and sustainable practices. Our findings demonstrate that governments can effectively foster a commitment to green innovation among SOE executives by integrating green indicators into the criteria used for political promotions. Notably, we find that this positive influence is more prominent when the likelihood of political promotion is higher. We provide valuable recommendations for policymakers seeking to facilitate energy transition and drive sustainable development, particularly for economies with a substantial SOE presence.

The absence of consistent access to efficient energy sources has far-reaching consequences for people's health, their finances, and the economy as a whole. Using the UNDP human development index as a yardstick, this article compares and contrasts the effects of polluting versus clean energy sources on household economic growth, diverting attention away from the negative health consequences associated with energy poverty. Families who converted to renewable energy had an average 12.2% boost in family development, according to a comparison of 2005 and 2012 data from the Indian Human Development Survey. Taking into consideration the potential for endogeneity does not change the outcomes. We also found that, despite a surge in cleaner energy forms, families are still using polluting sources of power, which goes against our beliefs. Combating the increasing tendency for harmful energy usage requires government intervention and further research.

This study explores the connections between energy transition, circular economy principles, and international trade to lessen carbon footprints for a sustainable future. It uses in-depth modeling and data analysis to show how they affect greenhouse gas emission mitigation. The study underscores the necessity of tackling the loss of natural resources, mainly due to insufficient waste management. It also stresses the transition from a linear to a circular economy. It validates the potential of the circular economy to reduce carbon emissions across eight key emitting countries through extensive research using scientific data from 1991 to 2021 and the AMG technique. It also draws a connection between development, high carbon emissions intensity, and efficient waste management in particular countries, supporting renewable energy as a beneficial environmental option. The report offers practical sustainability solutions for long-term implementation and identifies municipal garbage as a significant source of air pollution and greenhouse gas emissions.

Theoretically and numerically, this paper attempts to examine the macroeconomic effects of corruption by using the two-country directed technical change model. At a single-country level, an increase in corruption levels in one country leads to an intra-country decrease in the demand for labor and wages and a permanent slowdown of technological-knowledge progress and economic growth. At the inter-country level, a country-specific increase in corruption enlarges inter-country wage and technological-knowledge gaps. Overall, higher corruption levels in one country are detrimental to global economic growth. Through calibration, it is shown that when the differences between the corruption of non-corrupt and corrupt countries increase: (1) economic growth is mainly stimulated in the corrupt countries India, Mexico, and Brazil; (2) the lowest wage inequality compared to non-corrupt countries is observed in the corrupt countries Greece, Portugal, and Spain.