research advances in environmentally and socially sustainable operations abstract consumers and governments are pressuring firms to strike a balance between profitability and sustainability however this balance can only be maintained in the long run if the firm can take a holistic approach to sustain the financial flow profit resource flow planet and development flow people for the entire ecosystem comprising poor producers in emerging developing markets global supply chain partners consumers in developed countries and the planet by considering the flows associated with different entities within the ecosystem we classify and summarize recent operations research management science or ms research developments also we identify several gaps for future research in this important area

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

time series analysis applied to construct us natural gas price functions for groups of states the study of natural gas markets took a considerably new direction after the liberalization of the natural gas markets during the early 1990s as a result several problems and research opportunities arose for those studying the natural gas supply chain particularly the marketing operations consequently various studies have been undertaken about the econometrics of natural gas several models have been developed and used for different purposes from descriptive analysis to practical applications such as price and consumption forecasting in this work we address the problem of finding a pooled regression formula relating the monthly figures of price and consumption volumes for each state of the united states during the last twenty years the model thus obtained is used as the basis for the development of two methods aimed at classifying the states into groups sharing a similar price consumption relationship a dendrogram application and an heuristic algorithm the details and further applications of these grouping techniques are discussed along with the ultimate purpose of using this pooled regression model to validate data employed in the stochastic optimization problem studied by the authors

carbon emissions energy consumption and industrial growth in bangladesh empirical evidence from ardl cointegration and granger causality analysis abstract this research aims to examine the empirical cointegration long and short run dynamics and causal relationships between carbon emissions energy consumption and industrial growth in bangladesh over the period of 1972 2011 the ardl bounds testing methodology and granger causality test in an augmented var framework are applied the ardl bounds tests as well as additional cross checking test convincingly confirmed long run cointegration between carbon emissions energy consumption and industrial production in bangladesh the industrial production and energy consumption have significant positive impact on the carbon emissions both in the short and long runs likewise granger causality analysis indicated a unidirectional causation both from industrial production and energy consumption to carbon emissions i e the industrial development or economic development in bangladesh is taking place at the cost of environmental quality

is the long run relationship between economic growth electricity consumption carbon dioxide emissions and financial development in gulf cooperation council countries robust the relationship between carbon dioxide emissions economic growth electricity consumption and financial development in the gulf cooperation council gcc countries is investigated in this study using panel data for the period of 1980 2012 a number of econometric techniques dynamic ordinary least squares dols fully modified ordinary least squares fmols and the dynamic fixed effect model dfe are applied in order to estimate the long run relationship between the variables the long run relationship is found to be robust across these different econometric specifications no significant short run significant relationship was observed electricity consumption and economic growth have a positive long run relationship with carbon dioxide co2 emissions whilst a negative and significant relationship was found between co2 emissions and financial development the findings imply that electricity consumption and economic growth stimulate co2 emissions in gcc countries while financial development reduces it granger causality results reveal that there is a bidirectional causal link between economic growth and co2 emissions and a unidirectional causal link running from electricity consumption to co2 emissions however there is no causal link between financial development and co2 emissions also impulse response and variance decomposition analysis outline forecasted impacts of economic growth and electricity consumption on future co2 emissions

are there diminishing returns to r d abstract semi endogenous models and to some extent also schumpeterian models are based on the assumption of diminishing returns to r d this paper shows that the null hypothesis of constant returns to r d cannot be rejected for the oecd countries

patent quality and research productivity measuring innovation with multiple indicators we analyse the determinants of the decline in research productivity using panel data on manufacturing firms in the us for the period 1980 93 we focus on three factors the level of demand the quality of patents and technological exhaustion we develop an index of patent quality using detailed patent information and show that using multiple indicators substantially reduces the measured variance in quality research productivity at the firm level is inversely related to patent quality and the level of demand as predicted by theory and patent quality is positively associated with the stock market value of firms

firm incentives to promote technological change in pollution control reply abstract the process of technological change in pollution control is broken into three basic steps innovation diffusion and optimal agency response firm incentives to promote these steps are then examined under five regulatory regimes direct controls emission subsidies emission taxes free marketable permits and auctioned marketable permits on a relative basis emission taxes and auctioned permits provide the highest firm incentives to promote technological change at times free permits generate lower incentives direct controls which are common regulatory tools usually provide the lowest relative firm incentives to promote technological change

electricity consumption and economic growth in the gcc countries panel data analysis applying recent advances in panel data analysis we investigate the relationship between electricity consumption and economic growth in the gcc countries using annual data from 1975 to 2012 within a framework which takes into consideration dynamics heterogeneity and cross sectional dependence in the panel we show that the results obtained from using the pmge demeaned pmg amg mge and dfe models indicate a long run equilibrium relationship between electricity consumption and economic growth in order to determine the appropriate model and decide the preferred estimator the hausman test was performed the pmge model emerged as the most efficient of the three estimators also the results obtained revealed a bi directional causality between economic growth and electricity consumption in these countries which supports the feedback hypothesis as a result this implies that if these countries adopt or implement any energy or electricity conservation policies this may have a negative impact on its economic growth

energy consumption carbon dioxide emissions and economic development evaluating alternative and plausible environmental hypothesis for sustainable growth abstract pursuit of excellence in economic development in the midst of damaging the natural environment is a shameless growth the economic impacts on environmental degradation are quite visible in industrialized economies where human health is compromised by rapid economic growth and energy induced emissions this study examines the interrelationship between energy consumption economic growth and carbon dioxide co2 emissions under the six alternative and plausible hypothesis including environmental kuznets curve ekc pollution haven hypothesis phh population based emissions ipat energy led emissions sectoral growth emissions and emissions emancipated human development index ehdi in the context of low and middle income countries high income countries and in aggregated panel over the period of 1975 2015 the results supported the ekc hypothesis ipat hypothesis energy induced emissions and sectoral growth emissions in different regions of the world while phh and ehdi hypothesis does not confirm across regions this study exclusively determines the key socio economic and environmental problems in a large pool of the world economies to understand the need of development policy agenda for sustainable growth

nash profit efficiency a measure of changes in market structures abstract imperfectly competitive markets can be characterized by endogenous prices limited or no competition and the exercise of market power to address the resulting dysfunctionality this study proposes an alternative efficiency measure estimated by the directional distance function ddf with the direction toward nash equilibrium and develops the nash profit efficiency npe and its decomposition which complements the typical profit efficiency measure we model the production possibility set and the price functions of inputs and outputs and then develop the mixed complementarity problem micp we validate the model with an empirical study of the oil and natural gas industry in new york state between 1981 and 1989 the results show that before 1984 firms exploited a less competitive market that between 1984 and 1986 the number of new entrants transformed the market and that after 1986 no firms could exercise market power due to market restructuring deregulation and an unforeseen oil glut based on the results we conclude that the direction toward nash equilibrium can be justified for efficiency estimation in imperfectly competitive markets and that npe is appropriate for investigating changes in market structures

economic growth and transport energy consumption in the latin american and caribbean countries abstract transport is a strategic sector for economic development whilst being one of the most polluting sectors of the economy the latin american and caribbean countries have been consolidated as the region with significantly faster energy consumption growth this paper analyzes how the gdp per capita affects the transport energy consumption testing possible non linear relationships between variables a transport energy consumption function depending on gdp and its squared and cubed value is estimated for 22 lac countries over the period 1990 2014 the results support an n shaped curve while the elasticity values of transport energy consumption with respect to gdp per capita do not show a tendency to decrease in the long term fourteen lac countries show absolute coupling levels at the end of the period while the rest exhibit partial couplings likewise trade openness population density degree of urbanization and structural changes in the economy have positive effects on the transport energy consumption this paper proposes some energy efficiency measures to control the growing energy use and the promotion of biofuels and electric vehicles is also considered necessary to reduce the negative effects of transport energy use

strategic response to pollution taxes in supply chain networks dynamic spatial and organizational dimensions abstract this paper presents a model of the strategic behavior of firms operating in a spatial supply chain network the manufacturing and retailing firms engage in an oligopolistic noncooperative game by sharing customer demand such that a firm s decisions impact the product prices which in turn result in changes in all other firms decisions each firm s payoff is to maximize its own profit and we show that in response to such changes in prices and to exogenous environmental taxes the manufacturing firms may strategically alter a variety of choices such as make buy decisions with respect to intermediate inputs spatial distribution of production product shipment patterns and inventory management environmental tax payment vs recycling decisions and timing of all such choices to sustainably manage the profit and the environmental regulations an important implication is that effects of a tax depends on the oligopolistic game structure with respect to methods we show that this dynamic game can be represented as a set of differential variational inequalities dvis that motivate a computationally efficient nonlinear complementarity ncp approach that enables the full exploitation of above mentioned salient features we also provide a numerical example that confirms the utility of our proposed framework and shows substantial strategic reaction can be expected to a tax on pollution stocks

inconsistency of economic growth and electricity consumption in china a panel var approach abstract china has the largest electricity system in the world which is undergoing a critical market reform based on the panel data in 2000 to 2016 of china this paper tries to explain theinconsistency between electricity consumption and economic growth for example in 2015 gdp growth rate was close to 6 9 but with only 2 9 growth in electricity consumption however in 2018 a 6 6 growth in gdp required an 8 5 electricity growth the results explain the reasons for inconsistency and identify the key factors we find that the increase in inventory fixed capital and industrial electricity consumption will narrow the gap when economy grows faster than electricity consumption and widen the gap on the contrary heterogeneity exists among regions the model and variables seem most convincing in explaining the situation in the western region which is most similar to the full sample of china feedback effect is also observed between electricity consumption and economic growth in most parts of china by granger test the findings provides suggestions for the policy makers in making power planning in an effort to avoid large power shortage or surplus

optimal pricing and advertising in a durable good duopoly abstract this paper analyzes dynamic advertising and pricing policies in a durable good duopoly the proposed infinite horizon model while general enough to capture dynamic price and advertising interactions in a competitive setting also permits closed form solutions we use differential game theory to analyze two different demand specifications linear demand and isoelastic demand for symmetric and asymmetric competitors we find that the optimal price is constant and does not vary with cumulative sales while the optimal advertising is decreasing with cumulative sales comparative statics for the results are presented

financial development and energy consumption in central and eastern european frontier economies this study examines the impact of financial development on energy consumption in a sample of 9 central and eastern european frontier economies several different measures of financial development are examined including bank related variables and stock market variables the empirical results obtained from dynamic panel demand models show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using banking variables like deposit money bank assets to gdp financial system deposits to gdp or liquid liabilities to gdp of the three stock market variables investigated only one stock market turnover has a positive and statistically significant impact on energy consumption both short run and long run elasticities are presented the implications of these results for energy policy are discussed

the nexus of electricity consumption economic growth and co2 emissions in the brics countries abstract this study reexamines the causal link between electricity consumption economic growth and co 2 emissions in the brics countries i e brazil russia india china and south africa for the period 1990 2010 using panel causality analysis accounting for dependency and heterogeneity across countries regarding the electricity gdp nexus the empirical results support evidence on the feedback hypothesis for russia and the conservation hypothesis for south africa however a neutrality hypothesis holds for brazil india and china indicating neither electricity consumption nor economic growth is sensitive to each other in these three countries regarding the gdp co 2 emissions nexus a feedback hypothesis for russia a one way granger causality running from gdp to co 2 emissions in south africa and reverse relationship from co 2 emissions to gdp in brazil is found there is no evidence of granger causality between gdp and co 2 emissions in india and china furthermore electricity consumption is found to granger cause co 2 emissions in india while there is no granger causality between electricity consumption and co 2 emissions in brazil russia china and south africa therefore the differing results for the brics countries imply that policies cannot be uniformly implemented as they will have different effects in each of the brics countries under study

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

are energy conservation policies effective without harming economic growth in the gulf cooperation council countries abstract this study explores the fossil fuels electricity consumption growth of the gross domestic product gdp relationship in the six gulf cooperation council gcc countries for the period 1980 2012 the aim of this study is to examine whether energy conservation policies are appropriate for these countries to reduce their high levels of electricity consumption the autoregressive distributed lag ardl and the toda yamamoto dolado lutkepohl tydl methodologies were employed to investigate this relationship the ardl results revealed that fossil fuels electricity consumption has a long run positive effect on gdp growth in the gcc countries however the tydl granger causality revealed different causality relationships among the countries a bi directional causality was found between fossil fuels electricity consumption and gdp growth in bahrain and the united arab emirates uae while one way causality from fossil fuels electricity consumption to gdp growth was found in oman and qatar on the other hand no causality was concluded between the variables in kuwait and saudi arabia from the results it is clear that energy conservation is not an ideal policy for the bahrain uae oman and qatar because it will have a negative consequence on their output however this policy can be implemented in kuwait and saudi arabia since it will not harm their output

revenue sharing in airline alliances we propose a two stage game theoretic approach to study the operations of an airline alliance in which independent carriers managing different reservation and information systems can collaboratively market and operate codeshare and interline itineraries in the first stage game airlines negotiate fixed proration rates to share the revenues generated by such itineraries in the second stage game airlines operate independent inventory control systems to maximize their own expected revenues we derive a revenue sharing rule that is i an admissible outcome of the first stage negotiation in the sense that no airline coalition has enough incentives to secede from the grand alliance and ii efficient for the second stage game in the sense that the decentralized system can achieve the same revenues as a central planner managing the global alliance network our numerical study shows that the proposed proration rates can lead to a significant increase in revenues with respect to other rules commonly used

the effects of electricity consumption economic growth financial development and foreign direct investment on co2 emissions in kuwait abstract this study examined the empirical effects of economic growth electricity consumption foreign direct investment fdi and financial development on carbon dioxide co2 emissions in kuwait using time series data for the period 1980 2013 to achieve this goal we applied the autoregressive distributed lag ardl bounds testing approach and found that cointegration exists among the series findings indicate that economic growth electricity consumption and fdi stimulate co2 emissions in both the short and long run the vecm granger causality analysis revealed that fdi economic growth and electricity consumption strongly granger cause co2 emissions based on these findings the study recommends that kuwait reduce emissions by expanding its existing carbon capture utilization and storage plants capitalizing on its vast solar and wind energy reducing high subsidies of the residential electricity scheme and aggressively investing in energy research to build expertise for achieving electricity generation efficiency

fuel consumption in road transport a comparative study of china and oecd countries abstract energy conservation and emissions reduction have been the focus of the road transport sector due to its energy intensive and air pollution intensive nature it also embodies the imprints of human technological progress this paper compares the energy consumption of the road transport sector in china and oecd countries we used time series and panel data co integration analysis error correction model and dynamic model to study the impacts of the major influencing factors such as income income structure urbanization price and technological advancement on gasoline and diesel consumption in road transport overall china s fuel consumption is influenced mainly by investment government expenditure and demographic changes such as urbanization while the fuel consumption of oecd countries is mainly driven by household final consumption expenditure in the short run and from a dynamic perspective china s fuel consumption is less influenced by its historical consumption than current influencing factors while that of oecd countries is more affected by historical fuel consumption based on the analysis and findings of this study some policy implications are proposed

co2 emissions energy consumption and economic growth in turkey abstract this paper examines the long run and causal relationship issues between economic growth carbon emissions energy consumption and employment ratio in turkey by using autoregressive distributed lag bounds testing approach of cointegration empirical results for turkey over the period 1968 2005 suggest an evidence of a long run relationship between the variables at 5 significance level in turkey the estimated income elasticity of carbon emissions per capita is 0 606 and the income elasticity of energy consumption per capita is 1 375 results for the existence and direction of granger causality show that neither carbon emissions per capita nor energy consumption per capita cause real gdp per capita but employment ratio causes real gdp per capita in the short run in addition ekc hypothesis at causal framework by using a linear logarithmic model is not valid in turkish case the overall results indicates that energy conservation policies such as rationing energy consumption and controlling carbon dioxide emissions are likely to have no adverse effect on the real output growth of turkey

carbon capture and storage and transboundary pollution a differential game approach abstract we study the strategic behavior of two countries facing transboundary co2 pollution under a differential game setting in our model the reduction of co2 concentration occurs through the carbon capture and storage process rather than through the adoption of cleaner technologies furthermore we first provide the explicit short run dynamics for this dynamic game with symmetric open loop and a special markovian nash strategy then we compare these strategies at the games steady states and along some balanced growth paths our results show that if the initial level of co2 is relatively high state dependent emissions reductions can lead to higher overall environmental quality hence feedback strategy leads to less social waste

the impact of growth energy and financial development on the environment in china a cointegration analysis this article aims to investigate the impact of financial development economic growth and energy consumption on environmental pollution in china from 1953 to 2006 using the autoregressive distributed lag ardl bounds testing procedure the main objective is to examine the long run equilibrium relationship between financial development and environmental pollution the results of the analysis reveal a negative sign for the coefficient of financial development suggesting that financial development in china has not taken place at the expense of environmental pollution on the contrary it is found that financial development has led to a decrease in environmental pollution it is concluded that carbon emissions are mainly determined by income energy consumption and trade openness in the long run moreover the findings confirm the existence of an environmental kuznets curve in the case of china

what triggers environmental management and innovation empirical evidence for germany abstract it is frequently hypothesized that environmental management systems emss may improve firms environmental innovation performance whether this hypothesis is true is as critical for environmental policy as questions pertaining to the relevant incentives for 1 a firm s voluntary adoption of an ems and 2 its environmental innovation behavior based on ample empirical evidence for german manufacturing this paper addresses the simultaneity of these issues on the basis of a recursive bivariate probit model that explores the hypothesis that a facility s decision on innovation activities is correlated with the decision on ems adoption our empirical results indicating that environmental innovation activities are not associated with ems implementation nor any other single policy instrument reflect the perceptions of the survey respondents and hence should be interpreted as correlations rather than causal relationships according to these perceptions innovation behavior seems to be mainly correlated with the stringency of environmental policy

energy efficiency assessment of fixed asset investment projects a case study of a shenzhen combined cycle power plant abstract the assessment of fixed asset investment projects of energy conservation is based on a scientific and systematic approach to analyze the energy production consumption and management and helps to analyze whether the use of energy is in line with the national and local industrial policies and whether the project design meets china s energy saving design outlines and industry standards the level of energy consumption is compared to the domestic and international advanced levels regarding the project energy use and process analysis in all aspects of energy production and energy consumption taking technically feasible economically reasonable and environmentally and socially responsible measures and effective and rational use of energy to reduce consumption and losses and to stop waste while investigating if the project has a certain advanced and rational use of energy this study provides a full consideration of whether there is a scientific and rational use of energy to avoid low level repetition construction to avoid blind expansion trends and to promote the upgrading of industrial structure this paper takes as an example a gas turbine power plant in shenzhen as an assessment case study of the potential energy savings the project is expected to have an annual power supply of 37 89 10 8 kw h and an annual heat supply of 5 43 10 4 gj the consumption of power generation in tons of coal equivalent units is expected to reach 208 g per kw h the comprehensive annual average thermal efficiency is 77 16 and the average heat to power ratio is 40 65 these technical indicators are thought to be one of the best compared to similar level projects in the country

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

pollution accumulation and abatement policy in a supply chain abstract this paper seeks to determine how the double marginalization phenomenon affects the tradeoff between polluting emissions and abatement activities related to pollution accumulation in a supply chain composed of one manufacturer and one retailer the environmental consequence of this inefficiency which emerges in a non cooperative vertical setting governed by a single parameter contract is overlooked in the literature on pollution control in the setup of a two stage game we investigate the impact of double marginalization for non cooperative equilibrium to check whether there are differences between dynamic and strategic effects of double marginalization on pollution accumulation both the open loop and feedback nash equilibria are derived over a finite time horizon with the cooperative solution as a benchmark

emissions trading electricity restructuring and investment in pollution abatement this paper analyzes an emissions trading program that was introduced to reduce smog causing pollution from large stationary sources using variation in state level electricity industry restructuring activity i identify the effect of economic regulation on pollution permit market outcomes there are two main findings first deregulated plants in restructured electricity markets were less likely to adopt more capital intensive environmental compliance options as compared to regulated or publicly owned plants second as a consequence of heterogeneity in electricity market regulations a larger share of the permitted pollution is being emitted in states where air quality problems tend to be more severe jel l51 l94 l98 q53 q58 when the us federal government first began regulating major sources of air pollution in the 1960s the conventional approach to meeting air quality standards involved establishing maxi mum emissions rates or technology based standards for regulated stationary sources however economists have long maintained that an emissions permit market could more efficiently coor dinate pollution abatement activities provided a series of assumptions are met over the past few decades market based cap and trade cat approaches to regulating emissions from industrial point sources have become a centerpiece of environmental regulation in the united states in the theoretical first best permit market equilibrium the total social cost of meeting an emis sions cap is minimized each firm chooses a level of pollution abatement such that its marginal cost of reducing pollution is set equal to the social marginal benefit from emissions reduction in practice preexisting distortions in product markets that are subject to cat regulation may interfere with the emissions permit market s ability to operate efficiently this paper studies the effects of electricity market regulation on permit market outcomes in the context of a major us emissions trading program the nox budget program the recent wave of electricity industry restructuring in the united states has resulted in significant interstate variation in economic regulation consequently facilities in the same cat program face very different economic regu lation and investment incentives in their respective electricity markets whereas rate base regu lated plants are guaranteed to earn a rate of return on prudent investments in pollution abatement equipment deregulated plants operating in restructured electricity markets are offered no such

what percentage of innovations are patented empirical estimates for european firms abstract a 1993 survey on the innovative activities of europe s largest industrial firms obtained useable results on patenting activities for 604 respondents the data are used to calculate the sales weighted propensity rates for 19 industries the propensity rates equal the percentage of innovations for which a patent application is made the propensity rates for product innovations average 35 9 varying between 8 1 in textiles and 79 2 in pharmaceuticals the average for process innovations is 24 8 varying from 8 1 in textiles to 46 8 for precision instruments only four sectors have patent propensity rates for both product and process innovations combined that exceed 50 pharmaceuticals chemicals machinery and precision instruments regression results that control for the effect of industry sector show that patent propensity rates increase with firm size and are higher among firms that find patents to be an important method for preventing competitors from copying both product and process innovations the effect of secrecy is not so straightforward firms that find secrecy to be an important protection method for product innovations are less likely to patent as expected but secrecy has little effect on the propensity to patent process innovations the r d intensity of the firm has no effect on patent propensity rates for both product and process innovations the sector of activity has a strong influence on product patent propensities but very little effect on process patent propensities after controlling for the effect of other factors

economic growth energy consumption financial development international trade and co2 emissions in indonesia this study examines the linkages among economic growth energy consumption financial development trade openness and co2 emissions over the period of 1975q1 2011q4 in the case of indonesia the stationary analysis is performed by using zivot andrews structural break unit root test and the ardl bounds testing approach for a long run relationship between the series in the presence of structural breaks the causal relation between the concerned variable is examined by the vecm granger causality technique and robustness of causal analysis is tested by innovative accounting approach iaa our results confirm that the variables are cointegrated it means that the long run relationship exists in the presence of structural break stemming in the series the empirical findings indicate that economic growth and energy consumption increases co2 emissions while financial development and trade openness compact it the vecm causality analysis has shown the feedback hypothesis between energy consumption and co2 emissions economic growth and co2 emissions are also interrelated i e bidirectional causality financial development granger causes co2 emissions the study opens up a new policy insights to control the environment from degradation by using energy efficient technologies financial development and trade openness can also play their role in improving the environmental quality

the short and long run causality relationship among economic growth energy consumption and financial development evidence from south mediterranean countries smcs abstract this study aims at examining the short run and long run causal link between economic growth energy consumption and financial development by using data set of 6 smcs for the 1995 2015 periods the basic testing procedure requires four steps adf and pp unit root tests bound tests for co integration ardl approach and vecm method the results confirm cointegration between the variables it means that the long run relationship exists the short run causal relationships unidirectional exist at least once for each country except egypt the granger causality results for individual countries give mixed results these results urge for the attention of the policy makers in smcs to design a comprehensive energy conservation policy to minimize the consequences of massive energy consumption on economic growth by adding financial development

green growth planning a multi factor energy input output analysis of the canadian economy abstract incorporating socioeconomic and environmental considerations into energy decisions is necessary when tackling climate change and accelerating green growth in this work we propose a novel extension of the multi factor energy input output model to support evidence informed energy policy making and green growth planning through the introduction of eight different multipliers and two green growth indexes we demonstrate the approach through application at the national scale in canada in particular we quantitatively assess the extent to which changes in final demand impact the domestic and imported primary and renewable energy flows co2 emissions economic expansion and energy job earnings the results point to a potential path of green growth in canada prioritizing activities that generate economic and job growth at minimal environmental pressure i e fewer co2 emissions economic activities that are critical for stimulating green growth in the short to medium run are identified and recommendations are made regarding a longer structural change path for improving the supply chains of other economic activities this work provides insights to decision makers seeking strategies e g policy reforms or targeted public expenditure strategies to accelerate green growth planning on a national scale

a monopolistic and oligopolistic stochastic flow revenue management model this paper studies a one shot inventory replenishment problem with dynamic pricing the customer arrival rate is assumed to follow a geometric brownian motion homogeneous customers have an isoelastic demand function and do not behave strategically we find a closed form optimal pricing policy which utilizes current demand information under this pricing policy the inventory trajectory is deterministic and a retailer sells all inventory we show that dynamic pricing coordinated with the inventory decision achieves significantly higher profits than does static pricing furthermore under oligopolistic competition we establish a weak perfect bayesian equilibrium for the price and inventory replenishment game we find the pricing equilibrium to be cooperative even in a noncooperative environment but that inventory competition results in overstock and damages profits finally we examine the trade off between dynamic pricing and price precommitment and find that flexible pricing is still beneficial provided competition is not too intense

effects of financial development indicators on energy consumption and co2 emission of european east asian and oceania countries the financial crisis is considered a major economic issue and energy consumption and pollution are believed to be one of the most important environmental concerns in the new millennium the review on investigation of the nexus among energy consumption gdp growth financial development and co2 emission has shown no definitive conclusion apart from that the effects of financial development on energy consumption are not yet understood properly thus this article investigates the effects of financial indicator shocks i e credit market and stock market shocks on energy consumption and carbon dioxide co2 emissions and vice versa panel vector auto regression pvar models were employed to investigate the relationships in 13 european and 12 east asia and oceania countries from 1989 to 2011 findings emphasize the important role of co2 emission and energy consumption on explaining each other s deviation with only the degree of effect differing although energy consumption and co2 emission shocks on financial indicators such as private sector credit is not very pronounced in both groups of countries but the strength of energy consumption shock on stock return rate in european countries is greater than east asian and oceania countries conversely shocks to stock return rate influence energy consumption especially in long horizon in case of east asia and oceania countries

industrial demand for natural gas inter industry variation in new york state abstract this study investigates the variability in demand for natural gas by manufacturing industries in new york state the study uses a dynamic model using the three stage least squares method which allows for the calculation of both long and short run elasticities the demand model the price equations for the major natural gas using industries and the estimation results are presented and analysed it differs from previous studies of natural gas demand in that it is done at the sic two digit industry level using state specific data rather than highly aggregated national data

the impact of environmental management on firm performance environmental management has the potential to play a pivotal role in the financial performance of the firm many individuals suggest that profitability is hurt by the higher production costs of environmental management initiatives while others cite anecdotal evidence of increased profitability a theoretical model is proposed that links strong environmental management to improved perceived future financial performance as measured by stock market performance the linkage to firm performance is tested empirically using financial event methodology and archival data of firm level environmental and financial performance significant positive returns were measured for strong environmental management as indicated by environmental performance awards and significant negative returns were measured for weak environmental management as indicated by environmental crises the implicit financial market valuation of these events also was estimated cross sectional analysis of the environmental award events revealed differences for first time awards and between industries first time award announcements were associated with greater increases in market valuation although smaller increases were observed for firms in environmentally dirty industries possibly indicative of market skepticism this linkage between environmental management and financial performance can be used by both researchers and practitioners as one measure of the benefits experienced by industry leaders and as one criterion against which to measure investment alternatives

emission path planning based on dynamic abatement cost curve abstract global climate change is one of the most serious environmental problems that has attracted an unprecedented global attention the scientific community has recognized that human activity is mostly responsible for global climate warming therefore states participating in the united nations framework convention on climate change unfccc have initiated a series of negotiations on how to develop their own emission reduction targets however the realization of these targets is at the expense of economic development to a great extent therefore an abatement plan is necessary to decide how and when to implement emission reduction targets a marginal abatement cost curve macc often used as an important quantitative tool to estimate abatement burden or evaluate abatement performance should be considered carefully in this paper we enrich the traditional macc by introducing the concept of an immediate unit marginal abatement cost to describe its intrinsic incremental abatement difficulty this cost is proved to be agreed with the actual situation in many ways and is therefore very suitable for practical use two factor learning curve are considered in the model which can go some way in improving the performance of the revised macc using a parameterization method the original problem can be converted into a tractable nonlinear programming problem we use an algorithm to search for the approximate global optimal solution the effectiveness and the efficiency of the algorithm are discussed respectively in the results we find that the abatement path distinguishes largely under different abatement targets some plausible reasons and policy advices are given

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

the co2 emissions income nexus evidence from rich countries the paper attempts to test the environment kuznets curve ekc hypothesis for 36 high income countries for the period 1980 2005 the test is based on the suggestion of narayan and narayan 2010 various panel data unit root and co integration tests are applied carbon dioxide co2 emissions and gdp series are integrated of order one and co integrated especially after controlling for cross sectional dependence additionally the blundell bond system generalised methods of moments gmm is employed to conduct a panel causality test in a vector error correction mechanism vecm setting unidirectional causality running from real per capita gdp to per capita co2 emissions is uncovered in both the short run and the long run the empirical analysis based on individual countries provides evidence of an ekc for greece malta oman portugal and the united kingdom however it can be observed that for the whole panel a 1 increase in gdp generates an increase of 0 68 in co2 emissions in the short run and 0 22 in the long run the lower long run income elasticity does not provide evidence of an ekc but does indicate that over time co2 emissions are stabilising in the rich countries

the impact of foresight in a transboundary pollution game abstract we study the impact of foresight in a transboundary pollution game i e the ability of a country to control its emissions taking into account the relationship between current emissions and future levels of pollution and thus on future damages we show that when all countries are myopic i e choose the laisser faire policy their payoffs are smaller than when all countries are farsighted i e non myopic however in the case where one myopic country becomes farsighted we show that the welfare impact of foresight on that country is ambiguous foresight may be welfare reducing for the country that acquires it this is due to the reaction of the other farsighted countries to that country s acquisition of foresight the country that acquires foresight reduces its emissions while the other farsighted countries extend their emissions the overall impact on total emissions is ambiguous moreover our results suggest that incentive mechanisms that involve a very small possibly zero present value of transfers can play an important role in inducing a country to adopt a farsighted behavior and diminishing the number of myopic countries these incentives would compensate the myopic country for the short run losses incurred from the acquisition of foresight and can be reimbursed by that country from the gains from foresight that it enjoys in the long run

emission permit banking pollution abatement and production inventory control of the firm abstract in this paper we present a dynamic model modified with emission permit banking and pollution abatement and investigate the effect of emission permit banking and pollution abatement on the production inventory strategy of the firm after introducing emission permit banking and pollution abatement the cost function consists of the inventory holding and production costs the cost of investment in abatement capital goods and the emission procurement selling cost furthermore the inventory holding costs are linear production costs are non decreasing and convex functions of the production level and the costs of investment in abatement capital goods are increasing and convex functions of the investment level we compare the optimal production inventory strategy before emission permit banking and pollution abatement and thereafter the mathematical investigation is based on the arrow karlin model

dynamics of supply chain networks with corporate social responsibility through integrated environmental decision making in this paper we develop a dynamic framework for the modeling and analysis of supply chain networks with corporate social responsibility through integrated environmental decision making through a multilevel supply chain network we model the multicriteria decision making behavior of the various decision makers manufacturers retailers and consumers which includes the maximization of profit the minimization of emission waste and the minimization of risk we explore the dynamic evolution of the product flows the associated product prices as well as the levels of social responsibility activities on the network until an equilibrium pattern is achieved we provide some qualitative properties of the dynamic trajectories under suitable assumptions and propose a discrete time algorithm which is then applied to track the evolution of the levels of social responsibility activities product flows and prices over time we illustrate the model and computational procedure with several numerical examples

the impact of financial development on energy consumption in emerging economies abstract financial development is often cited as a very important driver of economic growth in emerging economies and it is thus likely that financial development affects energy demand this study uses generalized method of moments estimation techniques to examine the impact of financial development on energy consumption in a sample of emerging countries several different measures of financial development are examined using a panel data set on 22 emerging countries covering the period 1990 2006 the empirical results show a positive and statistically significant relationship between financial development and energy consumption when financial development is measured using stock market variables like stock market capitalization to gdp stock market value traded to gdp and stock market turnover the implications of these results for energy policy are discussed

technological innovation and green growth in the organization for economic cooperation and development economies abstract green growth means improving production and demand based emissions through innovation of green technologies for cleaner production and supply chain this study examines the effect of technological innovation on green growth on twenty eight 28 organization for economic cooperation and development oecd economies for the period 2000 to 2014 with data sourced from oecd library statistics and world bank world development indicators the economies were sub grouped into oceania america asia and europe preliminary tests conducted were cross section dependence test im pesaran and shin unit root tests westerlund cointegration confirmed that the variables are cointegrated using stirpat and ipat models the study found transport related technologies has been beneficial to green growth in the oceania sub region oecd asia s technologies for production and processing of goods have been beneficial to green growth climate change technologies in relation to generation and transmission of energy are detrimental to green growth in the oecd economies but its impact is visible in asia and europe sub panels environmental related budget and taxes have been found worthwhile in the pursuit of green growth from the dominant negative coefficient values findings led to the presentation of some important implications which could be useful for policy makers and industries in the pursuit of green growth globally

incentives for advanced pollution abatement technology at the industry level an evaluation of policy alternatives abstract in this research we evaluate the incentive effects of five environmental policy instruments to promote the development and adoption of advanced pollution abatement technology in a heterogenous industry from most to least incentive the policy instruments can be rank ordered as follows i auctioned permits ii emissions taxes and subsidies iii issued marketable permits iv performance standards including performance standards in this list necessitates the assumption that they are differentiated between heterogeneous firms before the technology adoption in a way which replicates the initial emissions control distribution of the efficient incentive based instruments with the starting point normalized in this fashion the instrument rankings are invariant with respect to the size of firms the size of the industry or the industry s abatement cost structure

does higher economic and financial development lead to environmental degradation evidence from bric countries abstract a vast number of studies addressed the environmental degradation and economic development but not financial development moreover as argued by stern 2004 the rise and fall of the environmental kuznets curve world development 32 1419 1439 they present important econometric weaknesses using standard reduced form modeling approach and controlling for country specific unobserved heterogeneity we investigate the linkage between not only economic development and environmental quality but also the financial development panel data over period 1992 2004 is used we find that both economic and financial development are determinants of the environmental quality in bric economies we show that higher degree of economic and financial development decreases the environmental degradation our analysis suggests that financial liberalization and openness are essential factors for the co 2 reduction the adoption of policies directed to financial openness and liberalization to attract higher levels of r d related foreign direct investment might reduce the environmental degradation in countries under consideration in addition the robustness check trough the inclusion of us and japan does not alter our main findings

the long run and causal analysis of energy growth openness and financial development on carbon emissions in turkey abstract the aim of this paper is to examine the causal relationship between financial development trade economic growth energy consumption and carbon emissions in turkey for the 1960 2007 period the bounds f test for cointegration test yields evidence of a long run relationship between per capita carbon emissions per capita energy consumption per capita real income the square of per capita real income openness and financial development the results show that an increase in foreign trade to gdp ratio results an increase in per capita carbon emissions and financial development variable has no significant effect on per capita carbon emissions in the long run these results also support the validity of ekc hypothesis in the turkish economy it means that the level of co 2 emissions initially increases with income until it reaches its stabilization point then it declines in turkey in addition the paper explores causal relationship between the variables by using error correction based granger causality models

energy consumption carbon emissions and economic growth in china abstract this paper investigates the existence and direction of granger causality between economic growth energy consumption and carbon emissions in china applying a multivariate model of economic growth energy use carbon emissions capital and urban population empirical results for china over the period 1960 2007 suggest a unidirectional granger causality running from gdp to energy consumption and a unidirectional granger causality running from energy consumption to carbon emissions in the long run evidence shows that neither carbon emissions nor energy consumption leads economic growth therefore the government of china can purse conservative energy policy and carbon emissions reduction policy in the long run without impeding economic growth

sectoral effects of a green tax reform in portugal abstract economic downturn coupled with serious and persisting environmental problems require a new regulation system to tackle these problems the portuguese government created the commission for the green tax reform in 2014 following the guidelines of the european union in the sense that fiscal policy should contribute to public budget consolidation and sustainable growth the commission was commissioned to propose a simplification of taxation in order to promote economic competitiveness environmental sustainability and the efficient use of resources the aim of this paper is to present the results from one of the teams that have contributed to the commission for the green tax reform we have followed the european commission guidelines in order to simulate a green tax reform with a static general equilibrium model and aligned to the political context we found that i it is possible to enjoy a positive double dividend ii to achieve improvements in the energy trade balance and energy independence and iii to reduce the energy intensity of the portuguese economy

the demand for electricity and natural gas in the northeastern united states the demand for natural gas and electricity for the residential commercial and industrial sectors was estimated using a combination of the error components model and seemingly unrelated regressions the estimated demand models showed both natural gas and electricity to be price elastic in the long run and price inelastic in the short run in all sectors except the commercial sector in which electricity demand is unresponsive to its own price natural gas had negligible income elasticities in the residential and commercial sectors and a long run income elasticity of 2 86 in the industrial sector electricity had an insignificant income effect in all sectors but the industrial where its long run elasticity was unitary only in the residential demand for natural gas is the cross price elasticity substantial with the price of electricity having a long run cross elasticity of 1 70 fuel oil prices generally had a negative impact probably indicating a large income effect the elasticities of adjustment were higher for natural gas than electricity indicating a faster adjustment to change either in response to greater instability in energy availability or reflecting more alternative fuels or both 16 references 4 tables

analysis on the nexus of economic growth fossil fuel energy consumption co2 emissions and oil price in africa based on a pmg panel ardl approach abstract in this study the causal link amid economic growth fossil fuel energy consumption carbon emissions and oil price was empirically tested from 1990 to 2015 by using a panel of 22 african countries the sample of african countries was divided into two subgroups namely oil exporters and non oil exporters using the pmg panel ardl and panel econometric methods heterogeneity and cross sectional dependence were considered to examine the long and short term dynamic relationships as well as validity of a proposed model findings from the pesaran yamagata homogeneity test pesaran cd test cips and cadf panel unit root tests and westerlund edgerton bootstrap panel cointegration indicated the panel time series data has heterogeneity and cross sectional dependence analysed variables are stationary and cointegrated respectively with respect to the pmg panel ardl estimation method it was evidenced that there exist i a bilateral causal link flanked by fossil fuel energy consumption and economic growth as well as fossil fuel energy consumption and carbon emissions in long and shot terms for all panels ii a unilateral causality from carbon emissions to economic growth in long term and short term for non oil exporters nonetheless a bilateral causal relationship only in long term for oil exporting countries and iii a unilateral cause and effect link from oil prices to economic growth energy consumption fossil fuel and carbon emission across all country groups in long and short terms policy recommendations are further discussed

competition in multiechelon assembly supply chains in this paper we study competition in multiechelon supply chains with an assembly structure firms in the supply chain are grouped into homogenous sectors nodes that contain identical firms with identical production capabilities that all produce exactly one undifferentiated product that may itself be a kit of components each sector may use several inputs to produce its product and these inputs are supplied by different sectors the production process within any sector is taken to be pure assembly in fixed proportions the number of firms in each sector is known the demand curve for the final product is assumed to be linear as are production costs in all sectors competition is modeled via a coordinated successive cournot model in which firms choose production quantities for their downstream market so as to maximize profits given prices for all inputs and all complementary products production quantities for sectors supplying the same successor are coordinated through pricing mechanisms so that complementary products are produced in the right proportions under these assumptions equilibrium prices for any multiechelon assembly network are characterized by a system of linear equations we derive closed form expressions for equilibrium quantities and prices in any two stage system i e a system with multiple input sectors and a single assembly sector we show that any assembly structure can be converted to an equivalent larger structure in which no more than two components are assembled at any node finally large structures can be solved either by direct solution of the characteristic linear equations or through an iterative reduction compression to smaller structures

energy consumption economic growth and carbon emissions challenges faced by an eu candidate member abstract this paper investigates the long run granger causality relationship between economic growth carbon dioxide emissions and energy consumption in turkey controlling for gross fixed capital formation and labor the most interesting result is that carbon emissions seem to granger cause energy consumption but the reverse is not true the lack of a long run causal link between income and emissions may be implying that to reduce carbon emissions turkey does not have to forgo economic growth

swedish business research productivity sweden experienced an increase in the ratio of granted patents to research and development spending r d between 1989 and 1998 a period when r d spending grew rapidly the ratio of patents granted to r d spending research productivity increased by 40 over the period and the ratio of quality adjusted patents to r d exhibited an even more impressive increase of 60 sectors with especially high research productivity and quality adjusted research productivity include low and medium technology manufacturing chemicals and transportation however the growth in quality adjusted research productivity was primarily generated by the high tech pharmaceuticals and electronics industries the service based sectors experienced a significant increase in r d spending over the period but the research productivity decreased less

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

optimal control for transboundary pollution under ecological compensation a stochastic differential game approach abstract to account for previously ignored yet widely observed uncertainty in nature s capability to replenish the natural environment in ways that should inform ideal design of ecological compensation ec regimes this study constructs a stochastic differential game sdg model to analyze transboundary pollution control options between a compensating and compensated region equilibrium strategies in the stochastic two player game inform optimal control theory and reveal a welfare distribution mechanism to form the basis of an improved cooperative game contract a case based numerical example serves to verify the theoretical results and supports three key insights first accounting for various random disturbance factors the probabilistic pollutant stock in stackelberg non cooperative game exceeds that of a cooperative game situation second the ec mechanism provides long term effective incentives only when the marginal losses of environmental damage in the compensating region are more than twice that of the compensated region achieving a pareto optimal equilibrium relies upon the attainment of a dynamic allocation ratio derived from the analysis of a robust welfare allocation mechanism third cross region cooperation reliably outperforms stackelberg non cooperation due to either overwhelming incumbent economic interests or high abatement costs this study illuminates the importance of balancing both parties interests within an ec agreement while reducing uncertainty around unobserved environmental factors during ex ante negotiations

the impact of financial development on carbon emissions an empirical analysis in china given the complexity between china s financial development and carbon emissions this paper uses some econometric techniques including cointegration theory granger causality test variance decomposition etc to explore the influence of financial development on carbon emissions results indicate that first china s financial development acts as an important driver for carbon emissions increase which should be taken into account when carbon emissions demand is projected second the influence of financial intermediation scale on carbon emissions outweighs that of other financial development indicators but its efficiency s influence appears by far weaker although it may cause the change of carbon emissions statistically third china s stock market scale has relatively larger influence on carbon emissions but the influence of its efficiency is very limited this to some extent reflects the relatively lower liquidity in china s stock markets finally among financial development indicators china s fdi exerts the least influence on the change of carbon emissions due to its relatively smaller volume compared with gdp but it is mainly utilized in carbon intensive sectors now therefore with the increase of china s fdi in the future many efforts should be made to adapt its utilizing directions and play its positive role in promoting low carbon development