Dynamic effects of natural resource abundance, green financing, and government environmental concerns toward the sustainable environment in China

As a result of the COVID-19 pandemic, production costs have grown, while human and economic resources have been reduced. COVID-19 epidemic costs can be reduced by implementing green financial policies, including carbon pricing, transferable green certificates, and green credit. In addition, China's tourist industry is a significant source of revenue for the government. Coronavirus has been found in 30 Chinese regions, and a study is being conducted to determine its influence on the tourism business and green financial efficiency. Econometric strategies that are capable of dealing with the most complex issues are employed in this study. According to the GMM system, the breakout of Covid-19 had a negative effect on the tourism business and the efficiency of green financing. Aside from that, the effects of gross capital creation, infrastructural expansion, and renewable energy consumption are all good. The influence of per capita income on the tourism industry is beneficial but detrimental to the efficiency of green finance. Due to the current pandemic condition, this report presents a number of critical recommendations for boosting tourism and green financial efficiency.

Section: Introductionmentioning

confidence: 99%

RETRACTED ARTICLE: Impact of the COVID-19 outbreak on China’s tourism economy and green finance efficiency

Zhu²

2023

“…The asymmetric approaches have received marked attention in recent time owing to confirmation of nonlinearities in various domains of economics and finance. (Chang et al 2020a ; Hossain et al 2023 ; Khan et al 2019 ; Pata and Caglar 2021 ; Sharif et al 2020a , b ; Sharif et al 2017 , 2019 , 2022 ; Sim and Zhou 2015 ; Suki et al 2020 ; Syed et al 2022 ; Ullah et al 2020 ; Ullah et al 2021 ; Umair and Yousuf 2022 ; Wan et al 2022 ; Yasmeen et al 2022 ). Thirdly, we aim to determine the causal association between COVID-19 and China’s business and economic conditions in a quantile framework.…”

Section: Introductionmentioning

confidence: 99%

Impact of COVID-19 on China’s business and economic conditions: the importance of quantile asymmetries

Ullah

Zhao

Sayed

et al. 2023

China has remained a growth engine for the global economy for the last several years. In this study, we assess the impact of COVID-19 on China’s business and economic conditions; employing the quantile-on-quantile (QQ) regression and the quantile causality approaches. These econometrics batteries suit our research postulation, as they are capable to delineate underlying asymmetries across the whole distribution, based on which we can infer whether the response of China’s business and economic conditions towards COVID-19 is heterogenous or homogenous. Utilizing the novel business and economic conditions measures, we observed that COVID-19 had initially disrupted both business and economic conditions in China. However, they showcased recovery over time. Our in-depth analysis allowed us to infer that the effect of COVID-19 on China’s business and economic conditions is heterogeneous across different quantiles, and there is reliable evidence of asymmetry. The outcomes of quantile causality in mean and variance corroborate our primary estimations. These findings educate policymakers, companies, and other stakeholders to understand the nuances of China’s business and economic conditions vis-a-vis COVID-19 in the short-run and as time elapsed.

“…Sharif et al (2020c) and Suki et al (2020) also use the quantile autoregressive distributed lag (QARDL) model to test the environmental Kuznets curve, and the outcomes confirm the presence of the inverted U-shaped curve in the Malaysian economy. Wan et al (2022) investigate the role of natural resources, green financing, and environmental regulations in reducing carbon emissions in China using data from 2000 to 2019.…”

Section: Overview and Extension Of Empirical Reviewmentioning

confidence: 99%

“…Wan et al ( 2022 ) investigate the role of natural resources, green financing, and environmental regulations in reducing carbon emissions in China using data from 2000 to 2019. The study uses the Bootstrap ARDL proposed by McNown et al ( 2018 ).…”

Section: Literature Reviewmentioning

confidence: 99%

A spatial econometric analysis of the environment Kuznets curve and pollution haven hypothesis in Sub-Saharan Africa

Jeetoo

Chinyanga

2023

The aim of this study is to test the environment Kuznets curve (EKC) and pollution haven (PH) hypotheses in Sub-Saharan Africa (SSA). An important methodological point that has been over-looked by many studies is that environmental quality is not only correlated in time but also in space. For this purpose, the study applies spatial panel econometric analysis using a balanced panel of 35 SSA nations from 2002 to 2015 to examine the EKC and PH hypotheses. Both spatial interdependence and individual heterogeneity are accounted for through the application of the spatial Durbin model (SDM) so as to avoid potential bias and inefficiencies in parameter estimates. As proxies for environmental quality, panel data aggregates on carbon dioxide (CO2) emissions and the depletion of natural resources are utilised. The findings offer proof for the EKC theory about the depletion of natural resources in SSA. The EKC theory, however, does not apply to CO2 emissions. Moreover, the study finds that the positive scale effect of trade outweighs the negative technique effect of trade, which indicates that trade liberalisation has a negative effect on both environmental quality indices. This discovery supports the PH theory. The study also demonstrates positive spatial spill-over for natural resource depletion between neighbouring countries and negative spatial spill-over for carbon dioxide emission between close countries.