Does the environmental <scp>K</scp>uznets curve exist between globalization and energy consumption? <scp>G</scp>lobal evidence from the cross‐correlation method

Shahbaz, Muhammad; Mahalik, Mantu Kumar; Shahzad, Syed Jawad Hussain; Hammoudeh, Shawkat

doi:10.1002/ijfe.1678

Cited by 56 publications

(25 citation statements)

References 32 publications

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“…These interaction terms will provide information on how resource abundance and dependence affect ecological footprint under the influence of globalization. As discussed in Shahbaz, Mahalik, et al (2019a) and Badeeb et al (2017), we consider both the abundance and dependence in our study. It is particularly important to overcome the shortcomings of previous studies based on a single measure namely natural resource dependence.…”

Section: Data Model and Methodologymentioning

confidence: 99%

“…Another major drawback from the literature is that empirical studies have ignored the association between natural resource rents (abundance/dependence) and environmental sustainability, and how this linkage is affected by globalization. From a theoretical perspective, it is well established that globalization affects environmental degradation through the scale effect, the technique effect, and the composite effect (Shahbaz, Mahalik, Shahzad, & Hammoudeh, 2019a). First, it is argued that any form of globalization will lead to relative decreases in environmental degradation through trade openness encourage the import of energy‐efficient technology from developed countries, which in turn reduces the pollution level in the extraction of natural resources in SSA.…”

Section: Previous Studiesmentioning

confidence: 99%

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The role of natural resources abundance and dependence in achieving environmental sustainability: Evidence from resource‐based economies

Erdoğan

Çakar

Ulucak

et al. 2020

Sustainable Development

190

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Proper use and efficient management of natural resources are critical to shaping a sustainable future in many resource‐rich countries in Africa. It is also well‐known that globalization creates a great awareness for sustainable resource extraction and provides cleaner production technology transfers to underdeveloped countries and enables them to establish a sustainable development pattern. However, evidence on the role of globalization in reducing the environmental impacts of natural resources in resource‐based economies is relatively scant. This study investigates sustainable future strategies by examining the role of natural resources, globalization, human capital, and urbanization in shaping the ecological footprint that is a broader indicator of environmental sustainability. To this end, Sub‐Saharan African countries—endowed with a rich natural resource base ranging from arable land, forest, freshwater, marine resources, oil, natural gas, minerals, and wildlife—are analyzed through advanced estimation techniques. Empirical results show that both resource dependence and abundance complicate to design a sustainable future by increasing the pressure on the environment. Similarly, urbanization deteriorates ecological conditions in Sub‐Saharan African countries. However, globalization and human capital seem the main sources of a cleaner and sustainable environment. The findings of the study shed new light on the main role of globalization in providing cleaner practices to reverse the negative influence of natural resource dependence and/or abundance on environmental quality.

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Section: Data Model and Methodologymentioning

confidence: 99%

Section: Previous Studiesmentioning

confidence: 99%

The role of natural resources abundance and dependence in achieving environmental sustainability: Evidence from resource‐based economies

Erdoğan

Çakar

Ulucak

et al. 2020

Sustainable Development

190

View full text Add to dashboard Cite

show abstract

“…Therefore, it is important to highlight the role of financial development while discussing the efficient use of energy and improving economic growth. Moreover, most of the studies discussed in the literature have checked the inverted‐U‐shaped relationship using environmental Kuznet's curve (EKC) hypothesis (for extensive literature see Ahmed & Long, 2013; Ahmed, Shahbaz, & Kyophilavong, 2016; Shahbaz, Mahalik, Shahzad, & Hammoudeh, 2019).…”

Section: Literature Reviewmentioning

confidence: 99%

Does financial development spur environmental and energy‐related innovation in Brazil?

Ahmed

Jahanzeb

2020

Int. J Fin Econ

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There is a well‐established set of literature on the energy‐growth‐finance nexus, especially for emerging economies; however, we identify two key gaps and address them in this study. First, the applied macroeconometrics literature suggests that macroeconomics time‐series possesses a potential structural break(s) if not identified, which may result in large estimation errors. Second, although assessing the impact of financial development, the role of market capitalization and innovation have been ignored. Therefore, this study fills these gaps and incorporates the role of technological innovation and market capitalization on energy demand and carbon dioxide emissions in the presence of financial development, gross domestic product (GDP) and exports. Using extended time‐series data over the period of 1980–2014 for Brazil, this study utilizes a structural break unit root test prior to autoregressive distributed lag (ARDL) model to test the long‐run equilibrium relationship amongst all the underlying variables. The ARDL results found that all of the vectors are cointegrated. Furthermore, long‐run estimates validate the environmental Kuznet's curve (EKC) hypothesis for Brazil and conclude that exports are the key driver of CO2 emissions and energy demand in the country. However, financial development, market capitalization and technological innovation reduce the intensity of both the energy demand and emissions in the country. Causal analysis suggests that the exports increase financial development and innovation and in return, financial development and technological innovation decrease CO2 emissions in the country. The results are robust and useful for policy control use.

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“…For the purpose of this analysis, we follow the recent methodological postulate by Narayan et al [82] which says that positive lag cross-correlations, CC E t G t (k<0)>0, and negative future cross-correlations, CC E t G t (k>0)<0, means that the value of the environmental index, E t , will decline with an increase in the economic index G t . Shahbaz et al [83] use this procedure to examine the link between globalization and energy consumption. Table 7 presents the results for the cross-correlations results for Poland in the examined period.…”

Section: Drawing and Discussing The Policy Implicationsmentioning

confidence: 99%

Assessing the Green Growth Trajectory through Resource and Impact Decoupling Indices: The Case of Poland

Kampas¹,

Rozakis²,

Faber³

et al. 2021

Pol. J. Environ. Stud.

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This paper uses the most appropriate measures and data sources to map the likely growth delinking of Polish economy for the period 1990-2016. Evidences of green growth exist and were assessed both qualitatively and quantitatively. This paper also examines the likely policy implications by means of cross-correlation analysis. The results indicate that Poland can be conceptualized as a successful paradigm prescribed by the ecological modernization theory since growth is not associated with human pressure on natural resources and does not produce detrimental environmental impacts.

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Does the environmental Kuznets curve exist between globalization and energy consumption? Global evidence from the cross‐correlation method

Cited by 56 publications

References 32 publications

The role of natural resources abundance and dependence in achieving environmental sustainability: Evidence from resource‐based economies

The role of natural resources abundance and dependence in achieving environmental sustainability: Evidence from resource‐based economies

Does financial development spur environmental and energy‐related innovation in Brazil?

Assessing the Green Growth Trajectory through Resource and Impact Decoupling Indices: The Case of Poland

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