Asymmetric impact of natural resources rent, monetary and fiscal policies on environmental sustainability in BRICS countries

Fu, Haoliang; Guo, Wenwei; Sun, Zhonghua; Xia, Ting

doi:10.1016/j.resourpol.2023.103444

Cited by 23 publications

(3 citation statements)

References 71 publications

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“…However, NGR, urbanization, and REC reduced CO 2 emissions. Fu et al (2023) explored BRICS from 1990–2019 and found that NNR and expansionary fiscal policy increased emissions. However, REC and monetary contractions reduced emissions.…”

Section: Literature Reviewmentioning

confidence: 99%

“…The reviewed literature finds a positive impact of NRR on emissions in most studies ( Bekun, Alola & Sarkodie, 2019 ; Wang et al, 2020 ; Danish, 2020 ; Joshua & Bekun, 2020 ; Tufail et al, 2021 ; Mahmood & Furqan, 2021 ; Shen et al, 2021 ; Saqib, Duran & Hashmi, 2022 ; Huang & Guo, 2022 ; Luo et al, 2023 ; Fu et al, 2023 ; Nwani et al, 2023 ; Huang, Sadiq & Chien, 2023 ). However, the negative effect of NRR is also corroborated by a few studies ( Adedoyin et al, 2020 ; Nwani & Adams, 2021 ; Mahmood & Saqib, 2022 ; Adebayo et al, 2023 ).…”

Section: Literature Reviewmentioning

confidence: 99%

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Oil and natural gas rents and CO₂ emissions nexus in MENA: spatial analysis

Mahmood

Saqib

Adow

et al. 2023

PeerJ

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Background Oil rents (OR) and natural gas rents (NGR) have significant contributions to the income of the Middle East and North Africa (MENA) economies and may increase emissions. Moreover, spatial autocorrelation is expected in carbon dioxide (CO2) emissions due to the geographically closed economies in the MENA region. Thus, we examine the impact of OR and NGR on CO2 emissions caring spatial dimensions and analyze the environmental Kuznets curve (EKC). Methods We apply the spatial Durbin model technique on the effects of OR, NGR, and economic growth on CO2 emissions in 17 MENA nations from 2000–2019, i.e., Algeria, Bahrain, Egypt, Iran, Iraq, Israel, Jordan, Kuwait, Libya, Morocco, Oman, Qatar, Saudi Arabia, Syria, Tunisia, the United Arab Emirates (UAE), and Yemen. Moreover, diagnostic tests are applied to reach the most appropriate spatial specification and to have the most robust results. Results The results disclose that CO2 emissions have spillovers and emissions of any country can damage the environment of neighboring countries. The EKC is corroborated with a turning point of 38,698 constant 2015 US dollars. Israel and Qatar are in 2nd phase of the EKC, and 15 MENA economies are in 1st stage. Thus, the economic expansion of most economies has ecological concerns. The effect of natural gas rents is found statistically insignificant. Oil rents have minute negative effects on emissions of local economies with an elasticity coefficient of −0.2117. Nevertheless, these have a positive indirect effect with an elasticity coefficient of 0.5328. Thus, the net effect of oil rents is positive. One percent increase in oil rents could accelerate 0.3211% of emissions. Thus, we suggest the MENA countries reduce reliance on oil rents in their income to avoid the negative environmental effects of the oil sector.

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Section: Literature Reviewmentioning

confidence: 99%

Section: Literature Reviewmentioning

confidence: 99%

Oil and natural gas rents and CO₂ emissions nexus in MENA: spatial analysis

Mahmood

Saqib

Adow

et al. 2023

PeerJ

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“…During this process, MP stabilizes the level of CO2e [24]. Among the papers that differentiate between contractionary and expansionary MP (henceforth CMP and EMP), Fu et al use quantile regressions with the method of moments to demonstrate that CMP policy at its major quantiles effectively reduces ED while moderate fiscal expansion speeds up emissions [25]. Chan uses the DSGE approach to inquire about the possibility that macroeconomic policies are more effective at limiting environmentally dangerous gases.…”

Section: Literature Reviewmentioning

confidence: 99%

Effects of Fiscal and Monetary Policies, Energy Consumption and Economic Growth on CO2 Emissions in the Turkish Economy: Nonlinear Bootstrapping NARDL and Nonlinear Causality Methods

2023

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Governments use fiscal and monetary policies to direct the economy toward economic expansion. However, both policies could have impacts on the environment. The study investigates the effects of fiscal and monetary policy, energy consumption and economic growth on carbon dioxide emissions for the Turkish economy from 1978 to 2021 with novel nonlinear bootstrapping NBARDL and nonlinear NBVARDL for nonlinear causality testing. The methods are robust to degenerate cointegration. By differentiating between expansionary and contractionary fiscal and monetary policies, the results determined the presence of long-run cointegrated relationships between the analyzed variables and emissions. The positive effects of both economic policies on emissions cannot be rejected, which become particularly pronounced for expansionary policies in addition to emission enhancing effects of energy consumption and growth. The effects of contractionary monetary policy are also positive in contrast to a set from the literature. Nonlinear causality tests favor one-way causality from energy consumption and from growth to emissions. The one-way causality from energy consumption and economic growth to emissions suggest non-existent feedback effects, leading to concerns for the environment. Expansionary and recessionary fiscal policies have one-way causal impacts on energy, leading to further environmental degradation. The findings highlight the severity of environmental problems caused by economic policies. Important policy recommendations are generated.

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A new hypothesis for the unemployment-environment dilemma: is the environmental Phillips curve valid in the framework of load capacity factor in Turkiye?

Yavuz,

Kilic,

Caglar

2023

Environ Dev Sustain

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Asymmetric impact of natural resources rent, monetary and fiscal policies on environmental sustainability in BRICS countries

Cited by 23 publications

References 71 publications

Oil and natural gas rents and CO₂ emissions nexus in MENA: spatial analysis

Oil and natural gas rents and CO₂ emissions nexus in MENA: spatial analysis

Effects of Fiscal and Monetary Policies, Energy Consumption and Economic Growth on CO2 Emissions in the Turkish Economy: Nonlinear Bootstrapping NARDL and Nonlinear Causality Methods

A new hypothesis for the unemployment-environment dilemma: is the environmental Phillips curve valid in the framework of load capacity factor in Turkiye?

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Asymmetric impact of natural resources rent, monetary and fiscal policies on environmental sustainability in BRICS countries

Cited by 23 publications

References 71 publications

Oil and natural gas rents and CO2 emissions nexus in MENA: spatial analysis

Oil and natural gas rents and CO2 emissions nexus in MENA: spatial analysis

Effects of Fiscal and Monetary Policies, Energy Consumption and Economic Growth on CO2 Emissions in the Turkish Economy: Nonlinear Bootstrapping NARDL and Nonlinear Causality Methods

A new hypothesis for the unemployment-environment dilemma: is the environmental Phillips curve valid in the framework of load capacity factor in Turkiye?

Contact Info

Product

Resources

About

Oil and natural gas rents and CO₂ emissions nexus in MENA: spatial analysis

Oil and natural gas rents and CO₂ emissions nexus in MENA: spatial analysis