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In environmental management, many studies have examined the energy consumption-emission nexus in detail. However, for the first time in the literature, this study considers how the Economic Complexity Index (ECI) and economic policy uncertainty (EPU) moderate the contribution of energy consumption to emissions for the four World Bank Income clusters. The system generalised methods of moments are applied to data for 109 countries from 1996 to 2016. Based on the main model (grouped clusters) estimations, the result revealed the existence of the environmental Kuznets curve (EKC) hypothesis. Also, an increase in air transport and consumption of energy releases more carbon emissions to the climate. Interestingly, ECI decreases carbon emission significantly while EPU does not have a significant impact. Moreover, the study revealed that ECI moderated the impact of other variables on emission, but EPU is not a significant moderator. Furthermore, a comparative analysis among the four incomes suggests that the EKC hypothesis holds only in the high-income clusters; ECI is a significant predictor of carbon emission in the four clusters, but it only decreases the emission in high-income clusters. This corroborates the debate on climate change and the productive capacity of high-income countries. Given the foregoing, several policy measures were recommended.

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The purpose of this research article is to provide the fresh evidence on the link between energy consumption (ENE) and economic growth (GDP) while controlling for the impact of CO 2 emissions (CO) in the case of Gulf Cooperation Council (GCC) countries. To conduct the empirical study we have employed the panel VAR methodology in the period 1980-2014. The results suggest that economic growth increases the ENE. However, the negative link between CO 2 emissions and economic growth is reported, implying the great awareness of the GCC countries on the environmental problems connected with the fossil fuels based energy. Thus, there is a serious incentive in these countries to deal with the potential environmental issues. One of the good alternatives is renewable energy. In addition, the increase in the energy efficiency is considered to be an important task in the future.

This study explores the tourism-urbanization-CO2 emissions nexus in the top 10 touristic destination over the period 1995-2016. Panel VAR methodology is employed. The findings of bivariate VAR models suggest the urbanization (UP) to have a significant positive response to the tourism receipts per capita (TR) as well as the negative response of the UP to the emissions of CO2. The outcome of trivariate model suggests a significant positive response of UP to its lagged value. However, tourism receipts per capita are found to respond negatively to the urbanization. The significant negative coefficient of-0.032 with UP suggests a negative response of urbanization to CO2 emissions. IRFs (Impulse Response Functions) suggest a negative response of CO2 to TR in the short-run. The impact is not found to be significant in the long-run. Besides that, the results suggest a positive decreasing response of urbanization to emissions of CO2. The results of this paper advocate the great environmentalawareness of citizens in the top 10 tourist destination suggesting that sustainable tourism has no alternative and key decision makers should develop strategies and do necessary steps in order to promote the development of sustainable tourism since the environment-friendly tourism is suggested to be the only acceptable one.

This paper applies panel data regression model to investigate the relationship between foreign direct investment (FDI) and tourism in 113 countries during the period 1995-2015. Besides this, the paper attempts to research the potential causal relationship and cointegration between tourism industry and FDI while controlling for indicators such as consumption, trade openness and human capital. The obtained results indicate a significant positive impact of tourism on FDI. Moreover, three control variables are reported to be a significant determinant of foreign direct investments. The unidirectional causal relationship running from tourism to FDI is reported, implying that tourism allows these countries to expand their FDI. Consumption, trade openness and human capital are also reported to have a unidirectional causal relationship with FDI. Westerlund ECM panel cointegration test indicates mixed results on the cointegration between variables. Taking into account the obtained results, government can consider this relationship as an important tool for policy implication to achieve sustainable growth of the economy as well.