Energy, tourism, finance, and resource depletion: panel data analysis

Bhuiyan, Miraj Ahmed; Zaman, Khalid; Shoukry, Alaa Mohamd; Gani, Showkat; Sharkawy, Mohamed A.; Sasmoko,; Khan, Aqeel; Ahmad, Adnan; Hishan, Sanil S.

doi:10.1080/15567249.2019.1572837

Cited by 32 publications

(11 citation statements)

References 38 publications

(29 reference statements)

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“…Bhuiyan et al [61] used different bank dimensions, specific factors, including money supply and credit creation in resource conservation agendas, and concluded that financial factors help promote environmentally sustainable agendas across countries. Rahman et al [62] constructed an FD index using five broad measures closely related to the bank-specific factors and monetary policy instruments in EKC modeling and confirmed green financing viability in the carbon mitigation agenda. Khan et al [50] included money supply as an FD measure in natural disaster modeling and found significant linkages with countries' socio-economic and environmental factors.…”

Section: Theoretical Considerationmentioning

confidence: 93%

Innovative Carbon Mitigation Techniques to Achieve Environmental Sustainability Agenda: Evidence from a Panel of 21 Selected R&D Economies

et al. 2021

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Technological innovation in the energy sector is highly needed to reduce carbon emission costs, which requires knowledge spillovers, financial development, and carbon pricing to achieve a green developmental agenda. The current study examines the role of knowledge innovations in achieving the environmental sustainability agenda under financial development and carbon pricing in a panel of 21 selected R&D economies from 1990 to 2018. The study constructed a composite index of financial development and knowledge innovation in the carbon pricing model. The results show that carbon pricing, a financial development index, innovation index, and energy demand fail to achieve stringent carbon reduction targets. A U-shaped relationship is found between carbon emissions and per capita income in the absence of a financial development index and trade openness. At the same time, this study shows the monotonic decreasing function in the presence of all factors. The causality estimates confirmed the feedback relationship between carbon pricing and carbon emissions, carbon pricing and the financial index, and the financial development index and innovation index. Further, the causality results established the carbon-led financial development and innovation, growth-led carbon emissions, and trade-led emissions, pricing, and financial development in a panel of selected countries. The estimates of the innovation accounting matrix (forecasting mechanism) confirmed the viability of the environmental sustainability agenda through carbon pricing, knowledge innovation, and financial development over a time horizon. However, these factors are not achievable carbon reduction targets in a given period. The study concludes that carbon pricing may provide a basis for achieving an environmental sustainability agenda through market-based innovations, green financing options, and improved energy resources. This would ultimately help desensitize carbon emissions across countries.

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Section: Theoretical Considerationmentioning

confidence: 93%

Innovative Carbon Mitigation Techniques to Achieve Environmental Sustainability Agenda: Evidence from a Panel of 21 Selected R&D Economies

et al. 2021

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“…To demonstrate the systematic productivity and performance of various objects or decision-making units, researchers have turned to data envelopment analysis (DEA), also known as DEA assessment ( Bhuiyan et al, 2018 ; Zhang et al, 2022 ). It is used to evaluate energy and environmental performance by taking into account the difference between desirable and undesirable outcomes.…”

Section: Methodology and Datamentioning

confidence: 99%

How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries?

2022

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Climate change is one of the most serious threats facing the world today. Environmental pollution and depletion of natural resources have been highlighted by the United Nations Sustainable Development Goals (SDGs), paving the way for modern concepts such as sustainable growth to be introduced. Therefore, this research explores the relationship between green finance, energy efficiency, and CO2 emissions in the G7 countries. The study uses panel data model technique to examine the dependence structure of green finance, energy efficiency, and CO2 emissions. Moreover, we use DEA to construct an energy efficiency index of G7 countries. A specific interval exists between the values of the energy efficiency indexes. Japan, the United Kingdom, and the United States were named the most energy-efficient countries in the world, based on results obtained for five consecutive years in this category. However, according to the comparative rankings, France and Italy are the most successful of all the G7 members, followed by the United Kingdom and Germany. Our overall findings of the econometric model confirm the negative impact of green finance and energy efficiency on CO2 emissions; however, this relationship varies across the different quantiles of the two variables. The findings in the study confirm that green finance is the best financial strategy for reducing CO2 emissions.

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“…The crime regulated policies and INTL_TOUR support policies should be interlinked that would be helpful to attain long-term payoffs in the form of increasing inbound tourism and INTL_TOUR revenues. Bhuiyan et al [29] focused on the interrelationships among INTL_TOUR, finance, and resource depletion in a heterogeneous panel of countries for a period of 1995-2016. The results show that INTL_TOUR deteriorate natural environment in the form of energy and resource depletion under the mediating channel of financial development indicators and renewable energy sources.…”

Section: Literature Reviewmentioning

confidence: 99%

Identifying the Carbon Emissions Damage to International Tourism: Turn a Blind Eye

Anser

Yousaf²,

Awan

et al. 2020

Sustainability

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The importance of sustainable tourism is largely discussed in environmental literature under two different main streams: first, an ample amount of literature is available on the role of international tourism in economic development; second, the existing literature mainly focused on estimating tourism carbon footprints across countries. Limited work has been done on identifying the cost of carbon emissions on the tourism industry, which is evaluated in this study to fill the existing literature gap by using a large panel of 132 countries between 1995 and 2018. The results show that carbon emissions damage, methane (CH4), nitrous oxide (N2O) emissions, and population density substantially decrease inbound tourism and international tourism receipts that result in an impact on the increase in international tourism expenditures across countries. The ex-ante analysis shows that inbound tourism will likely decrease from 19.546% to 16.854% due to an increase in carbon emissions damage of 0.357% to 1.349% for the period 2020–2028. Subsequently, international tourism expenditures will decrease from 19.758% to 12.384% by increasing carbon emissions damage from0.832% to 1.025%. Finally, international tourism revenues will subsequently decline from23.362% to 18.197% due to lowering carbon emissions damage from 0.397% to −0.113% over a time horizon.

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Energy, tourism, finance, and resource depletion: panel data analysis

Cited by 32 publications

References 38 publications

Innovative Carbon Mitigation Techniques to Achieve Environmental Sustainability Agenda: Evidence from a Panel of 21 Selected R&D Economies

Innovative Carbon Mitigation Techniques to Achieve Environmental Sustainability Agenda: Evidence from a Panel of 21 Selected R&D Economies

How Do Green Finance and Energy Efficiency Mitigate Carbon Emissions Without Reducing Economic Growth in G7 Countries?

Identifying the Carbon Emissions Damage to International Tourism: Turn a Blind Eye

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