Economic Change and Restructuring最新文献

A critical factor in promoting sustainability in the face of growing environmental concerns and the need to tackle climate change is the energy utility industry. Data Envelopment Analysis and Markov Chain analysis are used to quantify and extensively examine the findings of this study. The term "green recovery" now describes a fundamental approach for reviving cities and improving the quality of life for its residents. This research looks at how crucial green technology is to the energy industry and how it affects green utilities' effectiveness in encouraging a commitment to sustainability. Utilizing a variety of sources, such as scholarly studies official documents and trade journals, the study investigates the mutually beneficial connection between the uptake of new technologies and energy utilities' dedication to environmentally friendly operations. According to the research, achieving high green utility performance and integrating green technology are closely related.

Abstract

This study explores the relationship between sustainable economic growth in ASEAN's industrial and agricultural sectors and energy transformation (2005–2021). Using the Cross-Sectionally Autoregressive Distributed Lag (CS-ARDL) approach, it uncovers the positive impact of green economic growth on reducing fossil fuel consumption. Discrepancies are influenced by sector size, technological accessibility, and strategy complexity. Information and Communication Technology (ICT) development shows dual effects on consumption: an initial increase in the short term and a subsequent decrease in the long term. Conversely, the influence of the Consumer Price Index (CPI) and patent applications is constrained by the absence of green patent mechanisms and economic intricacies. The poverty ratio acts as a diminishing factor, reflecting its impact on demand–supply dynamics. Recommendations for ASEAN's energy transformation include digital sector evolution, green tech investments, regional green education, robust green finance, uniform emission taxation, and enhanced regional cooperation, collectively guiding the region toward sustainable energy and economic progress.

The objective of this research endeavor is to examine the intricate relationship among human capital (HC), energy transition (ET), sustainable growth (SG), and eco-innovation (Eco IN) within the G-7 economies over the period of 2008 to 2022. The research findings indicate that eco-innovation is a crucial factor in advancing sustainable practices and tackling environmental issues; the market is influenced by consumer demand and public–private collaboration. Implementation is, nevertheless, impeded by significant upfront costs and intricate regulatory frameworks. ET is an additional critical element in the employment creation and economic growth of renewable energy companies. Nonetheless, substantial investments in renewable technology and infrastructure are required to ensure a smooth transition. Sustainability of HC ultimately necessitates investments in research, education, and talent development. According to the data, effective policy, financial incentives, favorable legislation, and stakeholder participation reduce obstacles and promote SG. The results demonstrate how economies of the G-7 can utilize eco-innovation, ET, and HC to create a future that is both sustainable and inclusive.

This paper investigates the effect of the Yangtze river protection strategy (YRPS) on the leverage of heavily polluting corporates in the Yangtze river economic belt (YREB) through a quasi-natural experiment. The findings are as follows: Firstly, the YRPS helps to deleverage heavily polluting corporates, and this deleveraging effect will increase over time. Secondly, when the corporates belong to the middle and lower reaches of the YREB and the financial supervision degree of the areas are higher, the YRPS will have a stronger inhibitory impression on the leverage of heavily polluting corporates. Thirdly, when the corporates are state-owned, technology-intensive, and capital-intensive, the YRPS will have a better deleveraging effect on heavily polluting corporates. Fourthly, the YRPS mainly works on the leverage of heavily polluting corporates by reducing the financing capacity of corporates, reducing the capital investment of corporates, and weakening the operating risks of corporates. The findings of this paper supply important policy insights for advancing the implementation of YRPS, pushing the green transformation and upgrading of heavily polluting corporates, and promoting the high-quality economic development of the YREB.

Promoting inclusive finance is crucial for governments worldwide to drive inclusive economic growth and development. This study investigates the relationship between natural resource rent and inclusive finance, considering the role of institutional quality. Using a comprehensive dataset spanning 109 countries from 1996 to 2020, our research unveils novel insights in the field of inclusive finance. The findings from our fixed-effect regression and two-stage least squares regression analysis reveal that natural resource rent has a significant negative impact on inclusive finance, supporting the resource curse theory. Moreover, we observe that the effect of natural resource rent on inclusive finance is contingent upon the level of institutional quality. Specifically, in the presence of robust institutions, there is a positive association between natural resource rent and inclusive finance. However, in weaker institutional context, the relationship becomes negative. These findings withstand a series of robustness tests, underscoring their reliability. These findings also have significant policy implications for stakeholders and policymakers involved in promoting inclusive finance in resource-rich economies.

This study explores the factors influencing the adoption of green energy utilities in sports and public facilities across the G7 nations spanning from 2000 to 2021. The Augmented Mean Group (AMG) estimation method employed indicates that Foreign Direct Investment (FDI) has not exerted a significant impact on the green sports sector. Moreover, a 1% increase in Green Power Consumption (GPC) correlates with a nearly 0.29% rise in the growth of green energy sport utilities trade. Conversely, higher Tax Revenues (TAXR) hinder green energy sport utilities trade by almost 0.42%, attributable to increased financial burdens and the potential lack of incentives. The research emphasizes the positive role of Good Governance (GOV) in fostering sustainability and attracting investments, thereby propelling the expansion of eco-friendly sports facilities. Causal analysis underscores bidirectional relationships among the variables under examination. To promote the deployment of green energy in sports and public facilities, recommended policy measures include encouraging green FDI, implementing environmentally friendly taxation, advocating for sustainability in corporate management, and leveraging trade agreements to advance the trade of green energy utilities.

This study explores sustainable development and achieving net-zero emissions by assessing the impact of solar energy adoption on carbon emissions in 40 high and upper middle-income nations and 22 low and lower middle-income countries from 2000 to 2021. Dynamic GMM analysis reveals substantial potential in mitigating emissions, with a 1% increase in solar energy consumption corresponding to a 0.25% reduction in wealthier nations and a 0.10% reduction in lower-income countries. Green power generation positively influences emission reduction in both income groups. However, challenges arise in the green trade mechanism, where increased solar energy trade paradoxically links to higher CO2 emissions. Promising opportunities for environmental sustainability in high-income economies include prioritizing the development of a digital green finance market. In low-income economies, establishing a regulatory framework for the green finance market is crucial, emphasizing standards, guidelines, responsible lending, and incentives for environmentally friendly projects.

The notion of energy digital transformation, considered a groundbreaking and sustainable paradigm, has ignited scholarly debates. This study, covering the period from 2000 to 2021, delves into the intricate interplay among legal efficiency, financial development, and energy digital transformation. Employing the dynamic GMM (Generalized Method of Moments) approach, the research reveals compelling insights. A 1% increase in the good governance index corresponds to an approximate 0.57% rise in the volume of smart grid imports. Similarly, a 1% increase in the financial development index is associated with an approximate 0.26% increase in smart grid imports. Furthermore, a 1% increase in gross domestic product correlates with an approximate 0.17% growth in smart grid imports. Conversely, a 1% increase in energy intensity leads to a nearly 0.14% decrease in smart grid imports. The policy implications derived from this study emphasize the importance of directing funds toward smart grid and renewable energy projects.

Abstract

This study assesses the impact of the transition to renewable energy and improved societal well-being on environmentally sustainable economies, concentrating on 20 major CO₂-emitting countries from 2000 to 2020. Employing the pooled mean group (PMG) method, the findings indicate that a 1% increase in fossil fuel consumption results in a significant short-term decline of approximately 0.22% and a more substantial long-term decrease of 0.43% in green growth. This decline is attributed to the exacerbation of environmental degradation through notable carbon emissions. Interestingly, a 1% increase in the Human Development Index (HDI) is associated with heightened green growth, indicating an increased awareness of environmental issues. Conversely, a 1% reduction in population has a negative impact on green growth, underscoring the importance of balancing population dynamics with sustainable development. Furthermore, diminished internet penetration, rural electrification, and poverty exert adverse effects on the green growth index. The implementation of practical policies for major CO₂ emitters is crucial, encompassing initiatives such as digitalizing the green finance market, promoting ICT diffusion, advancing regional green power generation, adopting eco-friendly practices in petroleum industries, and liberalizing green utilities trade. These measures are essential for fostering green growth, enhancing social prosperity, and mitigating environmental degradation.

In the aftermath of the COVID-19 pandemic crisis, government debt has surged to unprecedented levels in most countries, including those of North Africa. In this study, we investigate the issue of public debt sustainability in four North African countries (Algeria, Libya, Morocco, and Tunisia). The Generalized Supremum Augmented Dickey–Fuller (GSADF) results show that Algeria, Libya, Morocco, and Tunisia have experienced periods of explosive public debt during the studied period. The identified episodes of explosive debt behavior can be seen as periods of unsustainable fiscal policy. Moreover, the Quantile Auto-Regressive (QAR) unit root results point to strong debt sustainability at the lower quantiles for the selected countries, while at the middle and upper quantiles, public debt exhibits an unsustainable dynamic. This finding, therefore, points to weak sustainability of debt and fiscal policies in Algeria, Morocco, Libya, and Tunisia. This paper provides further evidence that fiscal policies have become more unsustainable than sustainable in recent years in these countries. Consequently, fiscal policymakers in MENA countries should not overlook the unsustainability of public debt and its various effects when developing any strategy aimed at stimulating the economy through ever larger debt levels.