co2 emissions energy consumption economic growth and financial development in gcc countries dynamic simultaneous equation models abstract this study investigates the dynamic causal relationships among carbon emissions financial development economic growth and energy consumption for gulf cooperation council gcc countries from 1980 through 2011 annual time series data and an autoregressive distributed lag ardl model are used the main contribution of this paper is that it has investigated the causes of carbon emissions by taking into account the role of financial development and economic growth in gcc countries the results suggest long run and causal relationships among carbon emissions financial development gross domestic product gdp and energy use in all gcc countries except united arab emirates uae moreover there is long run unidirectional causality running from carbon emissions to energy use in the case of saudi arabia uae and qatar furthermore a one way causal relationship from financial development to carbon emissions in the context of uae oman and kuwait is found the evidence suggests that financial systems should take into account environmental aspects in their current operations in these countries the results of this study may be of great importance for policy and decision makers in developing energy policies for gcc countries that contribute to curbing carbon emissions while preserving economic growth

thinking about need public spending on the regions mackay r r and williams j 2005 thinking about need public spending on the regions regional studies 39 815 828 the uk treasury accepts that need is the correct guide to spending on public services in different parts of the uk but the formula used to decide changes in devolved spending in scotland wales and northern ireland depends on the population it does not compensate for differences in need with devolved spending determined by need there would be consistency across 11 of the 12 uk regions london would be the sole exception the heavy cost of the capital s public services is part of the argument for a more even distribution of income wealth and employment

energy consumption carbon emissions and economic growth in saudi arabia an aggregate and disaggregate analysis the objective of this study is to examine the relationship among economic growth carbon emissions and energy consumption at the aggregate and disaggregate levels for the aggregate energy consumption model we use total energy consumption per capita and co2 emissions per capita based on the total energy consumption for the disaggregate analysis we used oil gas and electricity consumption models along with their respective co2 emissions the long term income elasticities of carbon emissions in three of the four models are positive and higher than their estimated short term income elasticities these results suggest that carbon emissions increase with the increase in per capita income which supports the belief that there is a monotonically increasing relationship between per capita carbon emissions and per capita income for the aggregate model and for the oil and electricity consumption models the long and short term income elasticities of carbon emissions are negative for the gas consumption model this result indicates that if the saudi arabian economy switched from oil to gas consumption then an increase in per capita income would reduce carbon emissions the results also suggest that electricity is less polluting than other sources of energy

the environmental kuznets curve and the role of coal consumption in india cointegration and causality analysis in an open economy abstract this study investigates the dynamic relationship between coal consumption economic growth trade openness and co2 emissions in case of india in doing so narayan and popp journal of applied statistics 2010 37 1425 1438 structural break unit test is applied to test the order of integration of the variables long run relationship between the variables is tested by applying the ardl bounds testing approach to cointegration developed by pesaran et al journal of applied econometrics 2001 16 289 326 the results confirm the existence of cointegration for long run between coal consumption economic growth trade openness and co2 emissions our empirical exercise indicates the presence of environmental kuznets curve ekc in long run as well as in short run coal consumption as well as trade openness contributes to co2 emissions the causality analysis reports the feedback hypothesis between economic growth and co2 emissions and same inference is drawn between coal consumption and co2 emissions moreover trade openness granger causes economic growth coal consumption and co2 emissions

energy investment economic growth and carbon emissions in china empirical analysis based on spatial durbin model abstract the international community has reached a consensus on preventing the global climate from deterioration by stabilizing greenhouse gas concentrations in the atmosphere energy industry is a key field for greenhouse gas emission and investment in the energy industry plays a crucial part in promoting the low carbon development of china s energy industry energy investment can effectively break the high carbon lock in effect of energy industry and achieve the low carbon development of energy industry by guiding regulating and gathering social funds into the field of cleaner production and the field of low carbon technology based on the unified framework of energy economy and environment this article takes 30 provinces in china as the research object and constructs a spatial econometric model to investigate the impact of energy investment and economic growth on carbon emission reduction the results indicate that both energy investment and economic growth are responsible for the increase of china s provincial co2 emissions but their driving mechanisms are significantly different furthermore the increase of carbon emissions in adjacent provinces will bring about the increase of local carbon emissions through spatial spillover effects based on these findings the corresponding countermeasures and policy suggestions are put forward

nationalism development and integration the political economy of ernest gellner in this paper we show how in gellner we can find a stimulating analysis of the institutional equilibria that characterise agrarian and industrial society and the conditions that make possible institutional change from one equilibrium to another this allows a convincing account of the reasons why some countries industrialised before others and why nationalism had such an uneven impact on the development of market economies we consider the relation between gellner s analysis and other theories of organisation and point out how gellner can help to solve some paradoxes that arise in these theories we also argue that joining gellner s contribution to the analysis of the positional nature of status and power reinforces his conclusion about the necessary stagnation of agrarian societies and the necessary over accumulation of different forms of capitalism we conclude by examining the implications of his analysis for the process of globalisation and its challenge to national states

is aggregate domestic consumption spending adcs per capita determining co2 emissions in south africa a new perspective aggregate domestic consumption spending is one of the prime drivers of economic progress that facilitates the process of industrialization international trade and innovation but its effect on the environment remains underresearched this paper proposes a novel framework to explain the impact of aggregate domestic consumption spending per capita adcsp on carbon dioxide emissions co2e in south africa using the autoregressive distributed lag ardl technique the results indicated that the adcsp determines co2e in the short run sr and long run lr from adcsp to carbon intensity adcsp ci estimations it was observed that an increase 1 in adcsp increases co2e in both the lr 0 31 and sr 0 22 furthermore the nardl estimations showed that the lr effects of positive shocks in the adcsp on co2e are comparatively stronger than the sr effects the paper offers important policy implications for academics theorists and policymakers

tests for parameter instability in regressions with i 1 processes this article derives the large sample distributions of lagrange multiplier lm tests for parameter instability against several alternatives of interest in the context of cointegrated regression models the fully modified estimator of phillips and hansen is extended to cover general models with stochastic and deterministic trends the test statistics considered include the supf test of quandt as well as the lm tests of nyblom and of nabeya and tanaka it is found that the asymptotic distributions depend on the nature of the regressor processes that is if the regressors are stochastic or deterministic trends the distributions are noticeably different from the distributions when the data are weakly dependent it is also found that the lack of cointegration is a special case of the alternative hypothesis considered an unstable intercept so the tests proposed here may also be viewed as a test of the null of cointegration against the alternative of no cointegration the tests are applied to three data se

carbon dioxide emissions and economic growth panel data evidence from developing countries in this paper we test the environment kuznet s curve ekc hypothesis for 43 developing countries we suggest examining the ekc hypothesis based on the short and long run income elasticities that is if the long run income elasticity is smaller than the short run income elasticity then it is evident that a country has reduced carbon dioxide emissions as its income has increased our empirical analysis based on individual countries suggests that jordan iraq kuwait yemen qatar the uae argentina mexico venezuela algeria kenya nigeria congo ghana and south africa approximately 35 per cent of the sample carbon dioxide emissions have fallen over the long run that is as these economies have grown emissions have fallen since the long run income elasticity is smaller than the short run elasticity we also examine the ekc hypothesis for panels of countries constructed on the basis of regional location using the panel cointegration and the panel long run estimation techniques we find that only for the middle eastern and south asian panels the income elasticity in the long run is smaller than the short run implying that carbon dioxide emission has fallen with a rise in income

regional taxing and spending the search for balance the financial settlement has been described as the key to devolution public spending above tax in scotland and wales has been criticized public spending is above tax in seven uk regions including four english regions if we treat equal citizens equally public spending will be above tax in poorer regions there is nothing extraordinary about spending above tax but there are important questions with regard to regional levels of expenditure in four regions london south east scotland and northern ireland public expenditure is well above the level expected for their degree of prosperity this article provides possible explanations

political and economic inequality and the environment abstract this paper analyzes and tests the hypothesis that political and economic equality result in lower levels of environmental degradation based on formal statements of the argument put forward by boyce r 1994 ecological economics 11 169 178 i show that equality may or may not be necessary to minimize degradation under some plausible conditions greater inequality may even be conducive to lower degradation actual results depend primarily on the intersection between the distribution of preferences across groups and the institutional rules two cross national empirical tests tend to support the contention that distributional issues do not systematically explain variations in environmental quality the results reinforce the conclusion that assumptions about the structure of preferences and workings of social choice institutions ignore complex interactions which influence the relationship between degradation and equality

begging bowl meets baseball bat lessons for the uk from the australian fiscal model the uk has taken a historic step towards regionalized government with its creation of a scottish parliament and welsh and northern ireland assemblies however this has raised important question marks about the existing funding system the barnett formula the purpose of this article is to examine the experience offered by a mature federal fiscal system namely that of australia the australian system and in particular its fiscal system of distribution is outlined as are the effects of this system and the political manipulations of it that have taken place issues arising and important implications for uk policy makers are then discussed

investment in electricity markets with asymmetric technologies abstract capacity investments in electricity markets is one of the main issues in the restructuring process to ensure competition and enhance system security of networks we study competition between hydro and thermal electricity generators under demand uncertainty producers compete in quantities and each is constrained the thermal generator by capacity and the hydro generator by water availability we analyze a two period game emphasizing the incentives for capacity investments by the thermal generator we characterize both markov perfect and open loop equilibria in the markov perfect equilibrium investment is discontinuous in initial capacity and higher than it is in the open loop equilibrium however since there are two distortions in the model equilibrium investment can be either higher or lower than the efficient investment

the impact of economic growth on co2 emissions in azerbaijan abstract this paper investigates the relationship between the economic growth and co2 emissions in azerbaijan a cointegration analysis is conducted over the period 1992 2013 for getting more robust results johansen ardlbt dols fmols and ccr methods are employed to explore cointegration and estimate long run coefficients we use cubic quadratic and linear specifications and conclude that the last one is an adequate representation for the impact of the economic growth on co2 emissions in azerbaijan the results from the different cointegration methods are consistent with each other and show that the economic growth has a positive and statistically significant impact on the emissions in the long run implying that the ekc hypothesis does not hold for azerbaijan the income elasticity of co2 emissions using different methods is found to be between 0 7 and 0 8 moreover we find that any short run imbalance can be adjusted towards the long run equilibrium path within less than one year the paper concludes that measures to increase energy efficiency carbon pricing instruments in production and international domestic trade activities and nationwide social awareness programs to instruct about the negative consequences of pollution can be considered as relevant environmental policies aimed at reducing carbon emissions

neoclassical growth the j curve for abatement and the inverted u curve for pollution abstract this paper reexamines the neoclassical environmental growth model of forster to gain insights into the dynamic relationships among pollution abatement effort and economic development whereas the model has heretofore been used to examine steady state levels of capital consumption and environmental quality it also provides a theoretical basis for recent empirical research on j curves for abatement effort and inverted u curves for pollution

a theoretical basis for the environmental kuznets curve abstract this paper attempts to explain the environmental kuznets curve ekc or inverted u shaped relationship between income and environmental degradation in the framework of endogenous growth model considering a closed economy one part of capital is used for commodity production which generates pollution that degrades existing environment and the remaining part is used for abating pollution i e upgrading environment sufficient abatement activity improves restores environmental quality a sufficient abatement activity associated with commodity production could only lead optimally towards steady state the ratio of allocation of capital between two sectors production and abatement is fixed along the optimal path but it varies along the non optimal path that exists in the off steady state in the economy allocation of capital for abatement activity varies over time thus a change from insufficient to sufficient allocation of capital i e investment for abatement activity is the basis for an inverted u shaped relationship between environmental quality and economic growth

economic growth and emissions reconsidering the empirical basis of environmental kuznets curves abstract recent empirical research indicates that certain types of emissions follow an inverted u or environmental kuznets curve ekc as income grows this regularity has been interpreted as a possible de linking of economic growth and patterns of certain pollutants for developed economies in this paper the empirical basis of this result is investigated by considering some statistical particularities of the various ekc studies performed it is argued that the inverted u relationship between income and emissions estimated from panel data need not hold for specific individual countries over time based on insights from intensity of use analysis in resource economics an alternative growth model is specified and estimated for three types of emissions co2 nox and so2 in four countries netherlands uk usa and western germany it is found that the time patterns of these emissions correlate positively with economic growth and that emission reductions may have been achieved as a result of structural and technological changes in the economy sustainable growth is defined as the rate of economic growth that does not lead to growth in emissions its rate is calculated for each type of emission and country based on estimated parameter values the resulting indicators reflect a balance between the positive influence of growth and negative influence of structural change and technological progress on emission levels

the economics of planning electricity transmission to accommodate renewables using two stage optimisation to evaluate flexibility and the cost of disregarding uncertainty abstract aggressive development of renewable electricity sources will require significant expansions in transmission infrastructure we present a stochastic two stage optimisation model that captures the multistage nature of transmission planning under uncertainty and use it to evaluate interregional grid reinforcements in great britain gb in our model a proactive transmission planner makes investment decisions in two time periods each time followed by a market response uncertainty is represented by economic technology and regulatory scenarios and first stage investments must be made before it is known which scenario will occur the model allows us to identify expected cost minimising first stage investments as well as estimate the value of information the cost of ignoring uncertainty and the value of flexibility our results show that ignoring risk in planning transmission for renewables has quantifiable economic consequences and that considering uncertainty can yield decisions that have lower expected costs than traditional deterministic planning methods in the gb case the value of information and cost of disregarding uncertainty in transmission planning were of the same order of magnitude approximately 100 m in present worth terms further the best plan under a risk neutral decision criterion can differ from the best under risk aversion finally a traditional sensitivity analysis based robustness analysis also yields different results than the stochastic model although the former s expected cost is not much higher

do economic financial and institutional developments matter for environmental degradation evidence from transitional economies abstract several studies have examined the relationship between environmental degradation and economic growth however most of them did not take into account financial developments and institutional quality moreover stern stern d 2004 the rise and fall of the environmental kuznets curve world development 32 8 1419 1439 noted that there are important econometric weaknesses in the earlier studies such as endogeneity heteroscedasticity omitted variables etc the purpose of this paper is to fill this gap in the literature by investigating the linkage between not only economic development and environmental quality but also financial development and institutional quality we employ the standard reduced form modelling approach to control for country specific unobserved heterogeneity and gmm estimation to control for endogeneity our study considers 24 transition economies and panel data for 1993 2004 our results support the ekc hypothesis while confirming the importance of both institutional quality and financial development for environmental performance we also found that financial liberalization may be harmful for environmental quality if it is not accomplished in a strong institutional framework

time varying analysis of co2 emissions energy consumption and economic growth nexus statistical experience in next 11 countries this paper detects the direction of causality among carbon dioxide co2 emissions energy consumption and economic growth in next 11 countries for the period 1972 2013 changes in economic energy and environmental policies as well as regulatory and technological advancement over time cause changes in the relationship among the variables we use a novel approach i e time varying granger causality and find that economic growth is the cause of co2 emissions in bangladesh and egypt economic growth causes energy consumption in the philippines turkey and vietnam but the feedback effect exists between energy consumption and economic growth in south korea in the cases of indonesia and turkey we find the unidirectional time varying granger causality running from economic growth to co2 emissions thus validates the existence of the environmental kuznets curve hypothesis which indicates that economic growth is achievable at the minimal cost of environment the paper gives new insights for policy makers to attain sustainable economic growth while maintaining long run environmental quality

the new econometrics of structural change dating breaks in u s labor productivity we have seen the emergence of three major innovations in the econometrics of structural change in the past fifteen years 1 tests for a structural break of unknown timing 2 estimation of the timing of a structural break and 3 tests to distinguish unit roots from broken time trends these three innovations have dramatically altered the face of applied time series econometrics in this paper we review these three innovations and illustrate their application through an empirical assessment of u s labor productivity in the manufacturing durables sector

economic growth and environmental degradation the environmental kuznets curve and sustainable development abstract in this paper we critically examine the concept of the environmental kuznets curve ekc it proposes that there is an inverted u shape relation between environmental degradation and income per capita so that eventually growth reduces the environmental impact of economic activity the concept is dependent on a model of the economy in which there is no feedback from the quality of the environment to production possibilities and in which trade has a neutral effect on environmental degradation the actual violation of these assumptions gives rise to fundamental problems in estimating the parameters of an ekc the paper identifies other econometric problems with estimates of the ekc and reviews a number of empirical studies the inference from some such ekc estimates that further development will reduce environmental degradation is dependent on the assumption that world per capita income is normally distributed when in fact median income is far below mean income we carry out simulations combining ekc estimates from the literature with world bank forecasts for economic growth for individual countries aggregating over countries to derive the global impact within the horizon of the bank s forecast 2025 global emissions of so 2 continue to increase forest loss stabilizes before the end of the period but tropical deforestation continues at a constant rate throughout the period

the determinants of atmospheric so2 concentrations reconsidering the environmental kuznets curve this analysis explores the effects of income and the spatial intensity of economic activity on the atmospheric concentration of sulfur dioxide the results indicate that there is a u shaped relation between income and atmospheric concentration of so2 and an inverted u shaped relation between the spatial intensity of economic activity and so2 concentrations these results suggest that the spatial intensity of economic activity rather than income provides the impetus for policies and technologies that reduce so2 emissions based on this result the atmospheric concentration of so2 in developing nations may decline faster than indicated by previous analyses the potential for this decline depends on the rate at which income grows relative to population the trade off between the effects of income gains and the spatial intensity of economic activity on the atmospheric concentration of so2 is consistent with the notion that some environmental problems can be ameliorated by slowing population growth and increasing income levels

the econometric consequences of an energy consumption variable in a model of co2 emissions abstract many studies that model the determinants of co 2 emissions treat energy consumption as one of its determinants itkonen 2012 argues that this causes underestimation of both the responsiveness of co 2 emissions to income growth and the turning point of the carbon kuznets curve we first demonstrate that itkonen s 2012 conclusions are sensitive to the assumed form of the relationship between energy consumption and income we then argue that the presence of an energy consumption variable in a model of co 2 emissions can lead to systematic volatility in its coefficients which has the potential to change their magnitude and sign we also argue that misleading cointegration test results can be generated by such a model the potential nature and severity of these effects are illustrated with data for seven countries

a theory of employment unemployment and sickness beatty c fothergill s and macmillan r 2000 a theory of employment unemployment and sickness reg studies 34 617 630 this paper explains how the measurement of unemployment is distorted by the way that sickness is defined and counted by social security systems drawing on the concepts of hidden sickness the queue for jobs and hidden unemployment and on empirical observations from the uk it shows how job loss can result in increased recorded sickness rather than recorded unemployment it also shows how this process may vary between localities and countries the argument has profound implications for perceptions of the true extent of unemployment and of labour market disparities between regions beatty c fothergill s et macmillan r 2000 l emploi le chomage et la maladie une theorie reg studies 34 617 630 cet article chercheaexpliquer comment la mesure du chomage s avere fausseeacause de la fac on dont la secu definit maladie et la comptabilise puisant dans des notions de

the nexus between carbon emissions energy consumption and economic growth in middle east countries a panel data analysis abstract the environmental kuznets curve ekc hypothesis assumes that there is an inverted u shaped relationship between environmental degradation and income per capita in other words as a country grows it is assumed that its environmental quality improves in this study we aim to test the ekc hypothesis for 12 middle east countries during the period 1990 2008 by employing recently developed panel data methods our results provide evidence contrary to the ekc hypothesis we found evidence favorable to the u shaped ekc for 5 middle east countries whereas an inverted u shaped curve was identified for only 3 middle east countries furthermore there appear to be no causal links between income and co 2 emissions for the other 4 countries regarding the direction of causality there appears to be a unidirectional causality from economic growth to energy consumption in the short run in the long run however the unidirectional causality chain runs from energy consumption and economic growth to co 2 emissions we also suggest some crucial policy implications depending on these results

what role of renewable and non renewable electricity consumption and output is needed to initially mitigate co2 emissions in mena region abstract this study attempts to explore the causal relationship between renewable and non renewable electricity consumption output and carbon dioxide co 2 emissions for 10 middle east and north africa mena countries over the period of 1980 2009 the results from panel fully modified ordinary least squares fmols and dynamic ordinary least squares dols show that renewable and non renewable electricity consumption add in co 2 emissions while output real gross domestic product gdp per capita exhibits an inverted u shaped relationship with co 2 emissions i e the environment kuznets curve ekc hypothesis is validated the short run dynamics indicate the unidirectional causality running from renewable and non renewable electricity consumption and output to co 2 emissions in the long run there appears to be a bidirectional causality between electricity consumption renewable and non renewable and co 2 emissions the findings suggest that future reductions in co 2 emissions might be achieved at the cost of economic growth

are there limits to growth a simple theoretical model of pollution is developed that generates an inverted u shape relationship between per capita income and environmental quality this model is then used to study long run growth the same inverted u shape is shown to appear in time series and the prospects for sustained growth are shown to hinge on whether increasingly strict environmental regulation is compatible with a constant rate of return on capital implementation is also studied tax and voucher schemes are shown to have an advantage over direct regulation because they provide the correct incentives for capital accumulation copyright 1998 by economics department of the university of pennsylvania and the osaka university institute of social and economic research association

environmental kuznets curve in an open economy a bounds testing and causality analysis for tunisia the environmental kuznets curve hypothesis posits that in the early stages of economic growth environmental degradation and pollution increase however as a nation reaches a certain level of incom

the economic value of transmission lines and the implications for planning models abstract many connections between economic efficiency regulation the environment and energy markets are evident in the planning for transmission upgrades in an electricity network transmission owners have to make decisions about investing in new assets while facing uncertainty in the generation plans regulatory and environmental constraints and current system endowments in this paper we demonstrate an analytical method for determining the economic value of individual transmission lines in a meshed network by calculating the total welfare effects for the system while many regulators believe that traditional congestion rents provide the correct incentives for investing in transmission upgrades we show that the uncertainty in system conditions breaks down this paradigm the analysis uses an existing security constrained optimal power flow scopf model and a test network to demonstrate how the method can be used to determine the welfare effects of changing the capacity of selected transmission lines the results show that a substantial portion of the economic benefits for an individual line may come from maintaining system reliability when equipment failures occur furthermore these benefits can change dramatically when inherently intermittent sources of renewable generation are added to a network and the changes in benefits are not captured effectively by changes in the expected congestion rents

economic models for the environmental kuznets curve a survey abstract the environmental kuznets curve ekc refers to an inverted u shaped relationship between some pollutant level and per capita income i e the environmental quality deteriorates at early stages of economic growth and subsequently improves at a later stage since the early 1990s a considerable number of empirical studies have been conducted on the ekc and although there is no conclusive proof it has been recognized that the ekc emerges as an empirical regularity however some recent studies cast doubt on the concept and methodology of empirical results and evidence of the existence of the ekc has been questioned in fact how economic growth affects the environmental quality i e the shape of the ekc is still controversial in order to identify the actual relationship between the environmental quality and economic growth it is essential to develop economic models from various points of view this paper overviews the current stage of theoretical models that explain such relationship

transaction analysis in deregulated power systems using game theory the electric power industry is in transition to a deregulated marketplace for power transactions in this environment all power transactions are made based on price rather than cost a regional power pool is noted as the most straightforward path to a deregulated electricity marketplace however many questions remain unanswered regarding the economics of power pool participation in a deregulated energy marketplace participants are interested in maximizing their own profits regardless of the system wide profits it is perceived that competition will reduce the price of electricity for retail customers however the key issue for participants is related with the price definition to remain competitive in this paper the authors use game theory to simulate the decision making process for defining offered prices in a deregulated environment the outcome of this study may be used by power pool coordinators to discourage unfair coalitions a modified ieee 30 bus power system is used as a deregulated power pool to illustrate the main features of the proposed method

greenhouse gas emissions energy consumption and economic growth a panel cointegration analysis from canadian industrial sector perspective abstract this paper investigates the long run and the causal relationship between greenhouse gas emissions energy consumption and economic growth for canadian industrial sectors over the period 1990 2007 the empirical findings suggest that in the long run equilibrium energy consumption has a positive and statistically significant impact on greenhouse gas emissions whereas a non linear relationship is found between greenhouse gas emissions and economic growth consistent with the environmental kuznets curve the short run dynamics conveys that there is a unidirectional granger causality running from energy consumption to greenhouse gas emissions from economic growth to greenhouse gas emissions and a weak unidirectional causality running from greenhouse gas emissions to energy consumption from economic growth to energy consumption in the long run however there seems to be a weak one way causality flowing from energy consumption and economic growth to greenhouse gas emissions

empirical study on the environmental kuznets curve for co2 in france the role of nuclear energy this paper attempts to estimate the environmental kuznets curve ekc in the case of france by taking the role of nuclear energy in electricity production into account we adopt the autoregressive distributed lag ardl approach to cointegration as the estimation method additionally we examine the stability of the estimated models and investigate the granger causality relationships between the variables in the system the results from our estimation provide evidence supporting the ekc hypothesis and the estimated models are shown to be stable over the sample period the uni direction running from other variables to co2 emissions are confirmed from the casualty tests specifically the uni directional causality relationship running from nuclear energy to co2 emissions statistically provides evidence on the important role of nuclear energy in reducing co2 emissions

investigating the validity of pollution haven hypothesis in the gulf cooperation council gcc countries this study investigated the validity of the pollution haven hypothesis in the gulf cooperation council gcc countries using a multivariate framework to achieve the goal of this study the non stationary panel techniques were used to examine the hypothesis from 1980 to 2009 based on the pedroni cointegration test results it was found that the variables are cointegrated moreover the fully modified ols results showed that energy consumption and gdp growth increase co2 emission while foreign direct investment inflows have a long run negative relationship with co2 emission furthermore based on the short run granger causality test results fdi has no short run causal relationship with co2 emission and energy consumption while energy consumption and gdp growth have a positive causal relationship with co2 emission thus the results of this study indicate that energy consumption and gdp growth are the source of pollution in the gcc countries and not the foreign direct investment inflows thus the study recommended that these countries should utilize policies to encourage inward foreign investment since it plays an important role in stimulating gdp growth

revisiting the role of tourism and globalization in environmental degradation in china fresh insights from the quantile ardl approach abstract ascertaining sustainable development is a major issue across the globe and the economic growth pattern achieved is a predominant reason behind this the globalization led economic growth achieved by the emerging economies might not be ecologically sustainable as globalization might not have been utilized as a policy tool moreover a sound policy calls for considering the entire data spectrum for the analysis which is largely ignored in the literature this research contributes to the literature by proffering a policy framework for the emerging economies by analyzing the impact of globalization and tourism on environmental degradation by considering the chinese context as a sample following the quantile autoregressive distributed lag model the impact of economic growth globalization and tourism on greenhouse gas emissions carbon dioxide emissions and the ecological footprint in china over 1978q1 2017q4 are analyzed the results demonstrate that economic growth stimulates environmental degradation while the presence of environmental kuznets curve is also validated moreover tourism has been found to exert positive environmental externalities while globalization exerts negative environmental externalities based on the outcomes of the research a comprehensive policy framework has been suggested following which the chinese economy might be able to attain the objectives of sustainable development goals 7 8 and 13

bounds testing approach to analysis of the environment kuznets curve hypothesis abstract this paper examines the long run and the dynamic temporal relationships between economic growth energy consumption population density trade openness and carbon dioxide co 2 emissions in brazil china egypt japan mexico nigeria south korea and south africa based on the environment kuznets curve ekc hypothesis we employ the ardl bounds test to cointegration and cusum and cusumsq tests to ensure cointegration and parameter stability the estimated results show that the inverted u shaped ekc hypothesis holds in japan and south korea in the other six countries the long run relationship between economic growth and co 2 emissions follows an n shaped trajectory and the estimated turning points are much higher than the sample mean in addition the results indicate that energy consumption granger causes both co 2 emissions and economic growth in all the countries our results are consistent with previous studies that show that there is no unique relationship between energy consumption population density economic growth trade openness and the environment across countries

is china at the tipping point reconsidering environment economy nexus abstract environmental kuznets curve ekc has become the predominant approach between environmentalists and sociologists to modeling environment economy nexus during the past quarter century also with regard to china the largest industrial pollutant emitter in the world where unprecedented change offers a unique approach to the aggregate emissions in the case of china the question is whether a tipping point can be reached without de industrialization and at a lower income phase than in developed economies it is also the worldwide intrinsic concern of environment economy nexus in the prospective industrialization process of developing countries however china relative researches involve some existing challenges such as cross regional time series various socioeconomic drivers and turning thresholds taking the new normal china economy formulation into consideration a rethink and reexamination of the environment economy relationship was performed using the longest possible environmental and economic data from 30 provincial economies for the period of 1985 2017 different from the existing mostly time series based china ekc literature not only the llc ips fisher unit root tests pedroni and kao panel cointegration tests and the panel ols are used but the problem of cross sectional dependence is handled in panel unit root tests across various cross economies and the error correction based cointegration test is employed allowing for various forms of heterogeneity robust against the cross sectional dependence and the dols estimators are applied to resolve the standard ols for serial correlation and for endogeneity of regressors especially in only small possible china samples in particular the finding contrasts with the overly optimistic research of certain scholars who state that china could be on a clearly different path from the routes of some developed economies in the world realizing the environmental turnaround at low levels of economy and industrialization china economy is not just having a certain environmental dividend effect but mainly faces a more significant environmental pressure effect environmental input and its efficiency is still insufficient to perform the intended pollution reduction effects fundamentally the environmental investment as a proportion of gdp should reach the past levels of some developed economies in the similar pollution economy phase

air quality and economic growth an empirical study abstract in the present empirical study we have observed an inverse and sometimes u shaped relationship between environmental degradation and per capita real income as opposed to the inverted u shaped environmental kuznets curve ekc found in many earlier studies it was felt that a possible explanation of the observed pattern of relationship might be sought in the dynamics of the process of economic growth experienced by the countries concerned thus e g economic development may strengthen the market mechanism as a result of which the economy may gradually shift from non market to marketed energy resources that are less polluting this phenomenon may show up in the form of an inverse relationship as mentioned above also due to the global technical progress the production techniques available to the countries all over the world are becoming more and more capital intensive and at the same time less polluting this may mean that given the income level the pollution level decreases as the capital intensity of an economy rises in the present study it is indeed observed that as capital intensity increases the level of suspended particulate matter spm in the atmosphere decreases per capita real income is also found to be inversely related to spm partially but the interaction effect of per capita income and capital intensity on spm is observed to be positive this suggests that given the level of per capita income capital intensity a more capital intensive production technique a higher per capita income level would cause less pollution for spm a surprising result is also obtained i e a u turn is observed at a very high level of per capita real income i e us 12 500 at 1985 us prices this is possibly indicative of the fact that there are technological limits to industrial pollution control such that beyond a threshold level of income further rise in income cannot be achieved without environmental degradation

the impact of urbanization on co2 emissions evidence from developing countries abstract this paper analyzes the impact of urbanization on co2 emissions in developing countries from 1975 to 2003 it contributes to the existing literature by examining the effect of urbanization taking into account dynamics and the presence of heterogeneity in the sample of countries the results show an inverted u shaped relationship between urbanization and co2 emissions indeed the elasticity emission urbanization is positive for low urbanization levels which is in accordance with the higher environmental impact observed in less developed regions among our contributions is the estimation of a semi parametric mixture model that allows for unknown distributional shapes and endogenously classifies countries into homogeneous groups three groups of countries are identified for which urbanization s impact differs considerably for two of the groups a threshold level is identified beyond which the emission urbanization elasticity is negative and further increases in the urbanization rate do not contribute to higher emissions however for the third group only population and affluence but not urbanization contribute to explain emissions the differential impact of urbanization on co2 emissions should therefore be taken into account in future discussions of climate change policies

automatic stabilisers european union and national unity tradition seems to require that economists argue forever about the question whether in any disequilibrium situation market forces acting alone are likely to restore equilibrium now this is certainly an interesting question but as social scientists we surely must address ourselves to the broader question is the disequilibrium situation likely to be corrected at all by market or nonmarket forces or by both acting jointly it is our contention that nonmarket forces are not necessarily less automatic than market forces hirschman 1958 p 63 emphasis in the original hirschman and myrdal 1957 consistently insist that the image of a relentlessly taut economy can be a check to curiosity and a bar to true enquiry a proper search for understanding hirschman and myrdal h and m suggest must relax the assumptions which ensure fully informed price signals and reactions that are automatic elastic responsive only then can one approach an economy which is consistent with reality an economic system where bargains and contracts are made at prices which do not clear markets where resources remain unemployed underemployed unrecognised and where there are problems in encouraging adjustment to constantly changing opportuni ties in such an imperfect but realistic economy there may be a role for nonmarket forces h and m make stronger claims given particular emphasis by hirschman is the idea that non market forces emerge naturally inevitably even without conscious volition when the market fails to discover reasonable balance society will recognise will sense the gap and state policies and social institutions will emerge in an attempt to bridge it the argument applies to different forms of balance and has links to myrdal s claim

energy consumption pollutant emissions and economic growth in south africa article i nfo article history this paper examines the long run and the causal relationship between economic growth pollutant emissions and energy consumption for south africa for the period 1965 2006 in a multivariate framework which includes labour and capital as additional variables using the bound test approach to cointegration we found a short run as well as a long run relationship among the variables with a positive and a statistically significant relationship between pollutant emissions and economic growth further applying a modified version of the granger causality test we also found a unidirectional causality running from pollutant emissions to economic growth from energy consumption to economic growth and from energy consumption to co2 emissions all without a feedback the econometric evidence suggests that south africa has to sacrifice economic growth or reduce its energy consumption per unit of output or both in order to reduce pollutant emissions in the long run however it is possible to meet the energy needs of the country and at the same time reduce co2 emissions by developing energy alternatives to coal the main source of co2 emissions however the econometric results upon which the policy suggestions are made should be interpreted with care as they may not be sufficiently robust enough to categorically warrant the choice of an unpalatable policy option by south africa

threshold cointegration and nonlinear adjustment between co2 and income the environmental kuznets curve in spain 1857 2007 abstract article history received 9 march 2011received in revised form 24 february 2012accepted 2 march 2012available online 14 march 2012jel classi cation c2q4keywords environmental kuznets curveco 2 emissionsnonlinear relationshipthreshold cointegration inthispaper wemodelthe long run relationship between per capita co 2 and per capita income for the spanisheconomy over the period 1857 2007 according to the environmental kuznets curve eck the relationshipbetween the two variables has an inverted u shape however previous studies for the spanish economy onlyconsidered the existence of linear relationships such an approach may lack exibility to detect the trueshape of the relationship our empirical methodology accounts for a possible non linear relationship throughthe use of threshold cointegration techniques our results con rm the non linearity of the link between thetwo above mentioned variables pointing to the existence of an environmental kuznets curve for the spanishcase 2012 elsevier b v all rights reserved

a dynamic model of the environmental kuznets curve turning point and public policy we set up a simple dynamic macroeconomic model with i polluting consumption and a preference for a clean environment ii increasing returns in abatement giving rise to an ekc and iii sustained growth resulting from a linear final output technology there are two sorts of market failures caused by external effects associated with consumption and environmental effort the model is employed to investigate the determinants of the turning point and the cost effectiveness of different public policies aimed at a reduction of the environmental burden moreover the model offers a potential explanation of an n shaped pollution income relation it is shown that the model is compatible with most empirical regularities on economic growth and the environment

energy consumption carbon dioxide emissions and economic growth the case of saudi arabia abstract this paper investigates the dynamic causal relationships between energy consumption energy price and economic activity in saudi arabia based on a demand side approach we use a johansen multivariate cointegration approach and incorporate co 2 emissions as a control variable the results indicate that there exists at least a long run relationship between energy consumption energy price carbon dioxide emissions and economic growth furthermore a long run unidirectional causality stands from energy consumption to economic growth and co 2 emissions bidirectional causality between carbon dioxide emissions and economic growth and a long run unidirectional causality runs from energy price to economic growth and co 2 emissions in the short run there is unidirectional causality running from co 2 emissions to energy consumption and economic output and from energy price to co 2 emissions even though the energy led growth hypothesis is valid the share of energy consumption in explaining economic growth is minimal energy price is the most important factor in explaining economic growth hence policies aimed at reducing energy consumption and controlling for co 2 emissions may not reduce significantly saudi s economic growth investing in the use of renewable energy sources like solar and wind power is an urgent necessity to control for fossil fuel consumption and co 2 emissions

economic criteria for planning transmission investment in restructured electricity markets from an economic perspective a common criterion for assessing the merits of a transmission investment is its impacts on social welfare the underlying assumption in using this criterion is that side payments may be used to distribute the social gains among all market players in reality however since the impacts of an electricity transmission project on different players may vary such side payments are rather difficult to implement this paper focuses on different economic criteria that should be considered when planning electricity transmission investments we propose an electricity transmission investment assessment methodology that is capable of evaluating the economic impacts on the various effected stakeholders and account for strategic responses that could enhance or impede the investment s objectives we formulate transmission planning as an optimization problem under alternative conflicting objectives and investigate the policy implications of divergent expansion plans resulting from the planner s level of anticipation of strategic responses we find that optimal transmission expansion plans may be very sensitive to supply and demand parameters we also show that the transmission investments have significant distributional impact creating acute conflicts of interests among market participants we use a 32 bus representation of the main chilean grid to illustrate our results

do generation firms in restructured electricity markets have incentives to support social welfare improving transmission investments this paper examines the incentives that generation firms have in restructured electricity markets for supporting long term transmission investments in particular we study whether generation firms which arguably play a dominant role in the restructured electricity markets have the incentives to fund or support incremental social welfare improving transmission investments we examine this question in a two node network and explore how such incentives are affected by the ownership of financial transmission rights ftrs by generation firms in the analyzed two node network we show both i that the net exporter generation firm has the correct incentives to increase the transmission capacity incrementally up to a certain level and ii that although a policy that allocates ftrs to the net exporter generation firm can be desirable from a social point of view such a policy would dilute the net importer generation firm s incentives to support transmission expansion moreover if all ftrs were allocated or auctioned off to the net exporter generation firm then it is possible to increase both consumer surplus and social welfare while keeping the net exporter generation firm revenue neutral

an overlapping generations model of growth and the environment this article analyzes the potential conflict between economic growth and the maintenance of environmental quality in an overlapping generations model short lived individuals make decisions which have long lasting effects on both factor productivity and the environment the model provides a theoretical explanation of observed correlations between environmental quality and income whereby economic growth is associated first with declines then improvements in environmental quality it suggests circumstances in which multiple pareto ranked steady state equilibria may arise and in which sustained growth of both capital and environmental quality may occur overmaintenance of the environment analogous to dynamically inefficient overaccumulation of capital may emerge copyright 1994 by royal economic society

revisiting the environmental kuznets curve in a global economy the present study deals with an empirical investigation between co2 emissions energy intensity economic growth and globalization using annual data over the period of 1970 2010 for turkish economy we applied unit root test and cointegration approach in the presence of structural breaks the direction of causality between the variables is investigated by applying the vecm granger causality approach our results confirmed the existence of cointegration between the series the empirical evidence reported that energy intensity and economic growth globalization increase condense co2 emissions the results also validated the presence of environmental kuznets curve ekc the causality analysis shows bidirectional causality between economic growth and co2 emissions this implies that economic growth can be boosted at the cost of environment

is there an environmental kuznets curve for sulfur abstract most existing estimates of the environmental kuznets curve ekc for sulfur which use samples of mainly high income countries indicate a maximum emissions turning point at middle to lower high income levels of gdp per capita we use a larger and more globally representative sample than previous sulfur ekc studies we find that sulfur emissions per capita are a monotonic function of income per capita when we use a global sample and an inverted u shape function of income when we use a sample of high income countries a model estimated in first differences results in a monotonic ekc when estimated with both high income and global samples reductions in emissions are time related rather than income related

economic growth and transitions between renewable and nonrenewable energy resources abstract we study transitions between nonrenewable and renewable energy forms at different development stages of an economy it is shown that in the historical context the emphasis on energy production may evolve from renewables to nonrenewables and back to renewables typically both energy forms are used simultaneously along the equilibrium path nonrenewable resource consumption may increase and their price decrease an inverted u relation between carbon emissions and income level may follow even without environmental policy

energy consumption economic growth and co2 emissions in middle east and north african countries this article extends the recent findings of liu 2005 ang 2007 apergis et al 2009 and payne 2010 by implementing recent bootstrap panel unit root tests and cointegration techniques to investigate the relationship between carbon dioxide emissions energy consumption and real gdp for 12 middle east and north african countries mena over the period 1981 2005 our results show that in the long run energy consumption has a positive significant impact on co2 emissions more interestingly we show that real gdp exhibits a quadratic relationship with co2 emissions for the region as a whole however although the estimated long run coefficients of income and its square satisfy the ekc hypothesis in most studied countries the turning points are very low in some cases and very high in other cases hence providing poor evidence in support of the ekc hypothesis co2 emission reductions per capita have been achieved in the mena region even while the region exhibited economic growth over the period 1981 2005 the econometric relationships derived in this paper suggest that future reductions in co2 emissions per capita might be achieved at the same time as gdp per capita in the mena region continues to grow

the saving and investment nexus for china evidence from cointegration tests the saving and investment nexus as postulated by feldstein and horioka fh 1980 is revisited the saving investment correlation for china is estimated over the periods 1952 1998 and 1952 1994 the latter culminating in a period of fixed exchange rate regime amongst the key results it is found that saving and investment are correlated for china for both the period of the fixed exchange rate and the entire sample period with high saving investment correlation the results suggest that the chinese economy is in conformity with the fh hypothesis this is a valid outcome for in china capital mobility was fairly restricted over the 1952 1994 period as indicated by the relatively low foreign direct investment