Education, Financial Development, and Primary Energy Consumption: An Empirical Analysis for BRICS Economies

Sart, Gamze; Özkaya, Mehmet Hilmi; Bayar, Yılmaz

doi:10.3390/su14127377

Cited by 5 publications

(4 citation statements)

References 62 publications

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“…Existing literature shows mixed conclusions on this research. For example, researchers posit that financial development is positively correlated with energy usage, leading to increased CO 2 emissions (Kahouli, 2017; Liu et al, 2018; Sart et al, 2022). Other researchers postulate that energy consumption can be reduced via financial development, reducing CO 2 emissions (Adom et al, 2020; Chiu & Lee, 2020; Nguyen et al, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

Renewable Energy, Urbanization, Financial Development and Environmental Degradation in the ASEAN Countries

Tran

et al. 2023

Environment and Urbanization ASIA

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The ASEAN countries have increasingly become a new economic force in the global economy. Economic growth and development have significantly improved living standards. However, environmental degradation in the region has been significantly deteriorating. This study examines the long-term effects of renewable energy consumption, urbanization and financial development on environmental degradation in ASEAN countries from 1995 to 2020. Various econometric techniques are used, including the fully modified OLS, dynamic OLS, canonical cointegration regression and Ganger’s causality relationship. The empirical results indicate that increased renewable energy consumption and extended urbanization reduce environmental degradation. However, economic growth and financial development lead to increased environmental degradation. Granger’s causality relationship analysis confirms a bidirectional linkage between renewable energy consumption and urbanization, urbanization and financial development, and urbanization and environmental degradation. Financial development and urbanization also have a bidirectional causality relationship with economic growth. Finally, the results confirm a unilateral causality relationship between environmental degradation financial development and urbanization. The governments of the ASEAN countries will need to consider the significant roles of renewable energy usage and urbanization in their policies in achieving sustainable economic growth and development and improving environmental quality.

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Section: Literature Reviewmentioning

confidence: 99%

Renewable Energy, Urbanization, Financial Development and Environmental Degradation in the ASEAN Countries

Tran

et al. 2023

Environment and Urbanization ASIA

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“…Liu, Saleem, et al, 2022); human capital and environment (Ganda, 2022); and human capital, economic growth, investments, energy, and environment (M. Azam, 2019). Others on BRICS (K. Ahmed, 2017;Chien et al, 2021;Ganda, 2021;Haseeb et al, 2018;Ibrahim & Ajide, 2021;Rout et al, 2022;Sampene et al, 2022;Sart et al, 2022;Tamazian et al, 2009;Usman & Makhdum, 2021;Yao et al, 2021) adopted alternate variables in their studies and delivered diverse and mixed findings. Extensive empirical works used various human capital indicators (Bano et al, 2018;Chien et al, 2021;X.…”

Section: Introductionmentioning

confidence: 99%

“…In the context of BRICS economies, most of the comprehensive empirical works investigate the determinants of footprint (Sahoo et al, 2021); economic growth, eco‐innovation, and environment (H. Liu, Alharthi, et al, 2022; S. Liu, Gao, et al, 2022; H. Liu, Khan, et al, 2022; H. Liu, Saleem, et al, 2022); human capital and environment (Ganda, 2022); and human capital, economic growth, investments, energy, and environment (M. Azam, 2019). Others on BRICS (K. Ahmed, 2017; Chien et al, 2021; Ganda, 2021; Haseeb et al, 2018; Ibrahim & Ajide, 2021; Rout et al, 2022; Sampene et al, 2022; Sart et al, 2022; Tamazian et al, 2009; Usman & Makhdum, 2021; Yao et al, 2021) adopted alternate variables in their studies and delivered diverse and mixed findings. Extensive empirical works used various human capital indicators (Bano et al, 2018; Chien et al, 2021; X. Li et al, 2022; Ojekemi et al, 2022; Rafique et al, 2020; Sadiq et al, 2022).…”

Section: Introductionmentioning

confidence: 99%

Unveiling the liaison between human capital, trade openness, and environmental sustainability for BRICS economies: Robust panel‐data estimation

Haseeb

Xia

Saud

et al. 2023

Natural Resources Forum

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Global warming and greenhouse gas emissions pose severe threats to environmental sustainability. A sustainable environment is a prerequisite for long‐term socioeconomic growth and human survival. Green technology is brought about by a country's economic and financial openness, and education provides knowledge to the public and labor, contributing to environmental sustainability. Thus, this research aims to unveil the liaison between human capital, trade openness, and environmental quality for Russia, Brazil, India, China, and South Africa (BRICS) countries from 1998 to 2018. Several econometric methods, including the Driscoll–Kraay standard errors and the Dumitrescu–Hurlin causality approaches, reveal long‐run and causal relationships among the modelled indicators. The Driscoll–Kraay standard error results show that human capital is negatively related to carbon dioxide emissions (CO2 emissions). Imposing high tariffs and excise duties, changing tax structures, discouraging the inflow of polluted commodities, and encouraging green trade can help BRICS combat high environmental pollution. The results show that a one‐point increase in human capital in models 1 and 2 can reduce CO2 emissions by 1.5279 and 0.1538 points, respectively. In contrast, a 1% growth in trade can lead to a rise in CO2 emissions of 0.3731% and 0.2384%, respectively. Similarly, financial development and energy consumption result in high CO2 emissions in the long run. Moreover, a feedback effect of the human capital index on CO2 emissions is discovered. As a result of the findings, the government and responsible authorities should provide financial support and encourage investments in the region's energy‐resourceful and sustainable green projects.

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“…Motivated by the observations of a recent study [3], pertaining to the scant empirical evidence in capital-intensive industries, this research aims to scrutinise the nexus between intangibles and firm performance in the gas and electricity industry. The lately unprecedented surges in electricity and gas tariffs, against a background of the COVID-19 pandemic and the Russo-Ukrainian War, have not only led to a resurgence in academic Energy is widely recognised as one of the most valuable commodities, a sine qua non of all economic activities and a critical input for households' welfare [6]. Drawing on the precepts of the neoliberal ideology, which foregrounded market competition, attempts to privatise and liberalise the energy industry marked the last decades on a planetary scale [25,26].…”

Section: Introductionmentioning

confidence: 99%

Intangibles, Firm Performance, and CEO Characteristics: Spotlight on the EU Electricity and Gas Industry

2022

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The transition from the industrial economy to the knowledge-based economy has changed the status quo, and consequently, intangibles have gained traction in the scientific discourse of recent decades. The paper aims to scrutinise, econometrically, the nexus between intangibles and firm performance and the moderating role of CEO duality and CEO gender. Capital-intensive industries are largely overlooked by previous studies, which prompted us to explore the electricity and gas industry. The analysis is based on a longitudinal dataset of EU-listed companies and employs a quantitative approach to study the causal relationships between intangibles, firm performance, and CEO characteristics. Results demonstrate that intangible assets are a stepping stone to better financial and market performance, which endorses the resource-based view. Today’s social and cultural milieu sees gender diversity in a positive light. Consonant with the upper echelons theory, the study finds that CEO gender positively impacts the intangibles–firm performance relationship. The hypothesised prejudicial effect of CEO duality, postulated by the agency theory, is only partially supported. Managers and policymakers are advised to pay particular attention to intangibles and science-driven projects to augment corporate performance. Creating a diversity-friendly culture is also of paramount importance.

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Education, Financial Development, and Primary Energy Consumption: An Empirical Analysis for BRICS Economies

Cited by 5 publications

References 62 publications

Renewable Energy, Urbanization, Financial Development and Environmental Degradation in the ASEAN Countries

Renewable Energy, Urbanization, Financial Development and Environmental Degradation in the ASEAN Countries

Unveiling the liaison between human capital, trade openness, and environmental sustainability for BRICS economies: Robust panel‐data estimation

Intangibles, Firm Performance, and CEO Characteristics: Spotlight on the EU Electricity and Gas Industry

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