Does financial inclusion, renewable and non-renewable energy utilization accelerate ecological footprints and economic growth? Fresh evidence from 15 highest emitting countries

Usman, Muhammad; Makhdum, Muhammad Sohail Amjad; Kousar, Rakhshanda

doi:10.1016/j.scs.2020.102590

Cited by 360 publications

(170 citation statements)

References 82 publications

Supporting

Mentioning

137

Contrasting

Unclassified

Order By: Relevance

“…Thus, the elasticity estimates from Model (2) support the corresponding elasticity estimates from Model (1) to highlight the importance of enhancing renewable energy use to attain environmental sustainability in South Asia. The adverse environmental impacts of nonrenewable energy use were also found in the studies by Nathaniel and Khan [57] for the ASEAN states, Usman et al [56] for high carbon-emitting nations, and Nathaniel et al [58] for a panel of MENA countries.…”

Section: Resultsmentioning

confidence: 53%

“…Thus, considering the corresponding elasticity estimates, it is ideal for these economies to reduce their fossil fuel-dependencies and adopt renewable energy technologies to ensure environmental sustainability. Wang and Dong [89] also found unidirectional causality running from renewable energy use to EF for the case of Sub-Saharan African nations while Usman et al [56] found unidirectional causality running from nonrenewable energy use to EF in the context of 15 most carbon-emitting nations, which included India as well. The causality estimates also find bidirectional causal associations between FDI inflows and EF.…”

Section: Resultsmentioning

confidence: 99%

“…Conversely, in a recent study on the 15 highest carbon-emitting economies, Usman et al [56] found renewable energy use to be detrimental to environmental sustainability. The authors argued that higher renewable and nonrenewable energy use boost EFs.…”

Section: The Literature On Ef and Energy Usementioning

confidence: 97%

See 2 more Smart Citations

Renewable Energy Use and Ecological Footprints Mitigation: Evidence from Selected South Asian Economies

et al. 2021

View full text Add to dashboard Cite

Fossil fuel-dependency has induced a trade-off between economic growth and environmental degradation across the developing nations in particular. Against this backdrop, this study aims to evaluate the impacts of renewable energy use on the ecological footprints in the context of four South Asian fossil fuel-dependent nations: Bangladesh, India, Pakistan, and Sri Lanka. The econometric analysis involves the use of recently developed methods that account for cross-sectional dependency, slope heterogeneity, and structural break issues in the data. The results reveal that renewable energy consumption reduces the ecological footprints while nonrenewable energy use boosts the ecological footprints. The results also confirm the validity of the environmental Kuznets curve and pollution haven hypotheses for the panel of the South Asian nations. Besides, foreign direct investment inflows are found to degrade the environment while higher institutional quality improves it. Furthermore, unidirectional causalities are run from overall energy use, economic growth, and institutional quality to ecological footprints. At the same time, bidirectional associations between foreign direct investment inflows and ecological footprints are also ascertained. The overall findings highlight the pertinence of reducing fossil fuel-dependency, enhancing economic growth, restricting dirty foreign direct investment inflows, and improving institutional quality to ensure environmental sustainability across South Asia.

show abstract

Section: Resultsmentioning

confidence: 53%

Section: Resultsmentioning

confidence: 99%

See 1 more Smart Citation

Renewable Energy Use and Ecological Footprints Mitigation: Evidence from Selected South Asian Economies

et al. 2021

View full text Add to dashboard Cite

show abstract

“…The FMOLS technique is more appropriate to overcome the problem of bias, endogeneity, and serial correlation from the predictable coefficient of the panel dataset. Following Usman et al (2020aUsman et al ( , 2020bUsman et al ( , 2020c this study has used for FMOLS test for country-wise analysis. For the panel dataset, Pedroni (2001) proposed the following cointegrated estimation.…”

Section: Long-run Estimationmentioning

confidence: 99%

“…This study explored the impact of remittance inflows, technological innovation and financial development with the interaction term (LnREM*LnFD) (LnREM*LnTE) on the ecological footprint in the case of BICS economies. The ecological footprint based on six different environmental indicators is applied to measure the environmental degradation (Ozcan et al 2018;Usman et al 2020aUsman et al , 2020bUsman et al , 2020cLin et al 2020;Hassan et al 2019) which is ignored by the prior researchers. The panel data from 1990 to 2016 is analyzed through second-generation advance econometric techniques, For Cross-sectional independence four different CD tests were used to check CD across cross-sections, CIPS and CADF were applied to investigate the stationary level, and Westerlund (2007) cointegration test was employed to check the long-run association among concerned variables.…”

Section: Conclusion and Policy Implicationmentioning

confidence: 99%

Remittance inflows affect the ecological footprint in BICS countries: do technological innovation and financial development matter?

Yang

Jahanger

Ali

2021

Environ Sci Pollut Res

199

View full text Add to dashboard Cite

This study examines the impact of remittance inflows, technological innovations, and financial development on environmental quality in Brazil, India, China, and South Africa (BICS) economies over 1990-2016. This study employed a comprehensive environment proxy, i.e., ecological footprint for environmental quality, and also considers more advanced and robust econometric (second-generation) techniques. The outcomes of the current study reveal that remittance inflows and financial development significantly deteriorate the environmental quality, while technological innovations are an essential factor for the reduction of ecological footprint level. Furthermore, the results of the interaction terms show a significantly adverse effect on the ecological footprint. Additionally, the findings of country-wise analysis reveal that remittance inflows and financial development worsen the environmental quality in each sample country, while the technological innovations promote the environmental sustainability that is steady with panel results. Besides, the environmental Kuznets curve (EKC) hypothesis was verified across the BICS economies. Consistent with the key findings, an inverted U-shaped relationship exists between economic growth and ecological footprint in the case of Brazil and South Africa. In contrast, the U-shaped EKC hypothesis exists in the case of China and India. For robust policy implication, the findings of this study highlighted the dire need for "green policy tools" that should be linked with the BICS economy policies and driver for sustained growth.

show abstract

Impacts of industrialization, renewable energy and urbanization on the global ecological footprint: A quantile regression approach

et al. 2022

View full text Add to dashboard Cite

Debates on how growth and urbanization affect the environment have been intense, but they lack the global perspective. Therefore, this research examined those relationships, and to a greater extent other forms of global environmental degradation, such as foreign direct investment (FDI). It also explored the relationships between industrialization and technologies. The results, using Westerlund cointegration and quantile regressions over the period 1995-2017, show cointegration and regional heterogeneities in the environmental transmissions of economic development, industrialization, renewable energy, urbanization and FDI. The results show that economic development generates more environmental degradation in all quantiles at a global level, whereas urbanization and renewable energy reduce environmental degradation in all quantiles, with the highest effect being in the upper quantiles. On the other hand, industrialization affects the lower quantiles negatively and significantly but affects the upper quantiles positively. Finally, the empirical analysis supports the paradise haven or pollution halo hypothesis (PHH) for the 40th, 50th, 60th and 80th quantiles. This suggests that FDI inflows have a detrimental effect on the host country for these quantiles. Therefore, among the objectives of the policies are to give priority to more sustainable economic growth processes, which contribute to reducing environmental degradation, and furthermore to reinforce strict environmental laws on investment inflows and to build sustainable urbanization and industrialization processes for countries.

show abstract

Does financial inclusion, renewable and non-renewable energy utilization accelerate ecological footprints and economic growth? Fresh evidence from 15 highest emitting countries

Cited by 360 publications

References 82 publications

Renewable Energy Use and Ecological Footprints Mitigation: Evidence from Selected South Asian Economies

Renewable Energy Use and Ecological Footprints Mitigation: Evidence from Selected South Asian Economies

Remittance inflows affect the ecological footprint in BICS countries: do technological innovation and financial development matter?

Impacts of industrialization, renewable energy and urbanization on the global ecological footprint: A quantile regression approach

Contact Info

Product

Resources

About