Dynamic link between oil prices and exchange rates: A non-linear approach

Xu, Yang; Han, Liyan; Wan, Li; Yin, Libo

doi:10.1016/j.eneco.2019.104488

Cited by 33 publications

(16 citation statements)

References 63 publications

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“…Table 6 shows a positive and significant relationship between natural resource abundance and the ecological footprint, implying that countries with higher natural resource abundance have a higher risk of ecological depletion. This finding supports the argument that the abundance of the natural resources leads to low prices of resources which may in turn hinder the diversification of industries and lead to inefficient resource consumption patterns and severely affect the ecological sustainability (Adom & Adams, 2018; Wang et al, 2019; Xu et al, 2019). This evidence, from ecological perspective, reinforces the natural resource curse suggesting that resource abundance may be a curse for these economies.…”

Section: Resultssupporting

confidence: 82%

“…Research has focused on the impact of globalization to understand how interactions and integration of societies create environmental awareness and promote a sustainable future strategy (Rudolph & Figge, 2017; Xu, Han, Wan, & Yin, 2019). Because it has a great potential theoretically to enable countries to transfer advanced production technologies, and to combat environmental threats in collaboration if it is well managed (Alola, Yalçiner, Alola, & Akadiri, 2019; Dreher, 2006; Shahbaz, Khan, Ali, & Bhattacharya, 2017).…”

Section: Introductionmentioning

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

187

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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: Resultssupporting

confidence: 82%

Section: Introductionmentioning

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

187

View full text Add to dashboard Cite

show abstract

“…We relied on the non-linear autoregressive distributed lag (NARDL) estimation procedure of Shin, Yu, and Greenwood-Nimmo (2014)to reach policy consistent outcomes on the fossil-fuel subsidy-carbon emission relations in Nigeria. Over time, research has established nonlinearity in oil prices (see Khraief, Shahbaz, Mahalik, & Bhattacharya (2021); Xu, Han, Wan, & Yin (2019); Dbouk & Jamali (2018) for some examples), making the adoption of conventional linear estimation procedures indeterminable and inappropriate to reach a plausible outcome on the subject. Unlike the ARDL bound cointegration procedure followed in Dey, and Tareque (2019), the NARDL estimation technique is useful in establishing both short-run and long-run asymmetric co-integrating characteristics the variables.…”

Section: Introductionmentioning

confidence: 99%

Fuel subsidies and carbon emission: evidence from asymmetric modelling

Adekunle

Oseni

2021

Environ Sci Pollut Res

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It is expected that fuel subsidy removal should hinder carbon emissions growth through low energy consumption channels amid higher energy prices. However, outliers in this theoretical disposition make empirical proof of the fuel subsidy-carbon intensity apt and primitive. Despite established fuel subsidy abolishment gains for climate and economic welfare, the relevance, magnitude and policy implications remain dimly. This paper employs the non-linear autoregressive distributed lag (NARDL) estimation procedure to gauge the contemporaneous influence of fuel subsidy for carbon intensity in Nigeria. Findings revealed that fuel subsidy removal inversely relates to Nigeria's carbon emission in the short-run and long run. The study recommends complementary policy option that ensures additional financial savings to the government should be invested in public sector growth that can cushion the effect of relative income loss to the citizenry. The Nigerian government should ensure measures are kept in place to discourage over-consumption of alternative energy (for example, coal) that could also threaten the green economy paradox.

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“…The evolution of energy prices impact other non-energy primary commodities [4], exchange rates [5] and inflation [6], among others. Not only energy prices affect economic activity but are also influenced by it (as [7,8] show for general commodity prices), being one of the main determinants of the real price of commodity shifts in the demand for commodities associated with unexpected fluctuations linked to the business cycle.…”

Section: Introductionmentioning

confidence: 99%

Understanding fluctuations through Multivariate Circulant Singular Spectrum Analysis

Bógalo,

Poncela,

Senra

2020

Preprint

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Multivariate Circulant Singular Spectrum Analysis (M-CiSSA) is a non-parametric automated technique that allows to extract signals of time series at any frequency specified beforehand. It is useful to uncover co-movements at different frequencies and understand their commonalities and specificities. We apply M-CiSSA to understand the main drivers and co-movements of energy commodity prices at trend and cyclical frequencies that are key to assess energy policy at different time horizons. We clearly distinguish the detached behaviour of US natural gas from the rest of energy commodities at both frequencies while coals and Japan natural gas only decouple at the cyclical frequency.

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Dynamic link between oil prices and exchange rates: A non-linear approach

Cited by 33 publications

References 63 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

Fuel subsidies and carbon emission: evidence from asymmetric modelling

Understanding fluctuations through Multivariate Circulant Singular Spectrum Analysis

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