Asymmetric Impact of International Trade on Consumption-Based Carbon Emissions in MINT Nations

Adebayo, Tomiwa Sunday; Awosusi, Abraham Ayobamiji; Rjoub, Husam; Panait, Mirela; Popescu, Constanța

doi:10.3390/en14206581

Cited by 24 publications

(21 citation statements)

References 69 publications

(108 reference statements)

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“…Most countries around the globe rely significantly on non-renewable energy sources like coal, natural gases, and crude oil to satisfy the increasing energy need. The heavy dependence on fossil fuels has indeed intensified environmental problems (Adebayo et al, 2021a;Akinsola et al, 2021;Zhang et al, 2021). Anthropogenic greenhouse gas emissions (GHGs) have risen from the preindustrial period and are presently at their highest level.…”

Section: Introductionmentioning

confidence: 99%

Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

Ramzan

Awosusi

et al. 2021

Front. Environ. Sci.

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111

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The association between economic complexity (sophisticated economic structure) and carbon emissions has major implications for environmental sustainability. In addition, globalization can be an important tool for attaining environmental sustainability and it may also moderate the association between economic complexity and carbon emissions. Thus, this research examines the effects of economic complexity, economic growth, renewable energy, and globalization on CO2 emissions in the top 10 energy transition economies where renewable energy and globalization have greatly increased over the last 3 decades. Furthermore, this study also evaluates the joint effect of globalization and economic complexity on carbon emissions. Keeping in view the presence of slope heterogeneity and cross-sectional dependence in the data, this research utilized second-generation unit root tests (CIPS and CADF), Westerlund cointegration approach, and CS-ARDL and CCEMG long-run estimators over the period of 1990–2018. The results affirmed the presence of cointegration among the considered variable. Long-run findings revealed that globalization, renewable energy, and economic complexity decrease carbon emissions. Conversely, economic growth increases carbon emissions. Moreover, the joint impact of economic complexity and globalization stimulates environmental sustainability. Based on these findings, the government of these groups of economies should continue to expand the usage of renewable energy. They should also promote interaction with the rest of the world by adopting the policy of opening up.

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Section: Introductionmentioning

confidence: 99%

Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

Ramzan

Awosusi

et al. 2021

Front. Environ. Sci.

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111

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“…It is anticipated that an increase in FD would decrease ED, i.e., β 5 = ∂ normalED ∂ normalFD <0. Following studies of Awosusi et al 58 and Mahmood et al, 59 UZN is incorporated into the model. UZN is anticipated to have a positive impact on ED, i.e., β 6 = ∂ normalED ∂ normalUZN >0.…”

Section: Methodsmentioning

confidence: 99%

Does the export-to-import ratio affect environmental sustainability? Evidence from BRICS countries

Rahman

Halim

2022

Energy & Environment

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The study aims to examine the effects of trade balance, economic growth, green field investment, energy use, financial development, and urbanization on environmental sustainability in BRICS countries. This study proceeds to estimate the long-term association using the fully modified ordinary least square (FMOLS) and the dynamic ordinary least square (DOLS) panel estimation methods for the years 1991–2020. This empirical study finds that the ratio of exports to imports has a negative effect on environmental degradation. This indicates that increasing the trade balance eventually leads to environmental sustainability, which finally improves living standards and environmental conditions in the BRICS countries. The findings further show that green field investment and financial development substantially improve environmental sustainability, but energy use, urbanization, and economic growth desperately negatively affect environmental sustainability. Additionally, this research finds a unidirectional relationship of environmental sustainability with trade balance, green field investment, energy use, urbanization, and economic growth rate. This study states how BRICS countries can be protected through trade balance controlling environmental degradation. Thus, this research provides improved orientations to the policymakers of BRICS countries to design policy in favor of the environment.

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“…The study found that income growth in these countries increases carbon emissions based on consumption. Additionally, Safi, Chen, et al (2021) analyzed the nexus between expansion in the economy and consumption‐based CO 2 E and concluded that in E‐7 countries, economic growth increases consumption‐based CO 2 E. According to Adebayo et al (2021), there is a correlation between growth and CO 2 E in Mexico, Indonesia, Nigeria, and Turkey (MINT) economies.…”

Section: Synopsis Of Related Literaturementioning

confidence: 99%

Consumption‐based CO₂ emissions in Denmark: The role of financial stability and energy productivity

Oyebanji

Kırıkkaleli

Ayobamiji³

2023

Integr Envir Assess & Manag

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Climate change can be mitigated and policies can be catalyzed with the aid of financial institutions. By maintaining and strengthening financial stability, the financial sector's resilience could help mitigate climate‐related risks and uncertainties. Hence, an empirical investigation on the effect of financial stability on consumption‐based CO2 emissions (CCO2E) in Denmark is long overdue. This study investigates the financial risk‐emissions relationship in the presence of energy productivity, energy consumption, and economic growth in Denmark. Furthermore, by adopting an asymmetric approach to analyze the time series data for the period between 1995 and 2018, this study helps bridge this major gap in the literature. By adopting the nonlinear autoregressive distributed lag approach (NARDL), we discovered that the positive variation in financial stability causes a reduction in CCO2E, but the neutral connection was reported between the negative shock in financial stability and CCO2E. The positive shock in economic growth and energy consumption intensifies CCO2E; however, a neutral interaction exists between the negative shock in economic growth and CCO2E. The negative shock in energy consumption has a positive effect on CCO2E, indicating a mitigating implication on environmental degradation. In addition, a positive shock in energy productivity enhances environmental quality, while a negative shock in energy productivity increases environmental degradation. In light of the results, we suggest some robust policies for Denmark and other smaller but wealthy nations. Moreover, in order to develop sustainable finance markets, policymakers in Denmark need to mobilize both public and private finance while maintaining a balance with other economic needs of the nation. The country must also identify and understand potential avenues for scaling up private financing for mitigating climate risk. Integr Environ Assess Manag 2023;00:1–10. © 2023 SETAC

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Asymmetric Impact of International Trade on Consumption-Based Carbon Emissions in MINT Nations

Cited by 24 publications

References 69 publications

Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

Does the export-to-import ratio affect environmental sustainability? Evidence from BRICS countries

Consumption‐based CO₂ emissions in Denmark: The role of financial stability and energy productivity

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Asymmetric Impact of International Trade on Consumption-Based Carbon Emissions in MINT Nations

Cited by 24 publications

References 69 publications

Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

Does the export-to-import ratio affect environmental sustainability? Evidence from BRICS countries

Consumption‐based CO2 emissions in Denmark: The role of financial stability and energy productivity

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Product

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Consumption‐based CO₂ emissions in Denmark: The role of financial stability and energy productivity