Perceived uncertainty as a key driver of household saving

Levenko, Natalia

doi:10.1016/j.iref.2019.10.005

Cited by 28 publications

(9 citation statements)

References 42 publications

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“…Sagi et al (2021) argued that EPU has an influence on Carbon dioxide emissions thru the direct policies of the government that may enhance or impede environmental damages. While Das et al (2019) explained EPU as a factor of stock market, Xu et al (2020) analyzed business innovation, and Levenko (2020) addresses uncertainty as determinant of savings. Climatic fluctuations are essential in economic analysis and policy advice, according to the recent climate scientific research (Golub et al 2017;Workman et al 2020).…”

Section: Economic Policy Uncertainty and Environment Qualitymentioning

confidence: 99%

Environmental concerns of financial inclusion and economic policy uncertainty in the era of globalization: evidence from low & high globalized OECD economies

Ullah

Ali

Shah

et al. 2022

Environ Sci Pollut Res

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Environmental consequences of financial aspects, policy uncertainties and rapid globalization is the topic of intense debate in present years. However, this study contribute to existing literature in an innovative way. We classified the 33 OECD economies in two group’s lower globalized economies (LGE) and highly globalized economies (HGE), based on their level of globalization. Considering the cross-sectional dependency and slope heterogeneity in the data this study employed the Augmented Mean Group method to estimate the influence of financial inclusion, economic policy uncertainty and globalization on the environment quality of both groups for the period 1996–2019. The results revealed a negative significant impact of financial inclusion, while a positive significant impact of economic policy uncertainty on CO2 emissions in both groups, LGE and HGE. However the globalization estimated to have positive impact on CO2 emission in LGE’s, in HGE’s it is significantly impeding the CO2 emission. The interaction of globalization with financial inclusion and economic policy uncertainty respectively found negative and positive to effect the CO2 in both LGE’s and HGE’s. The study suggests that, LGE’s are need to prepare for economic globalization, move toward adopting energy-efficient technology and promote trade in less-polluting products in order to sustain their environment quality. The outcomes of this study are robust by employing different model specifications.

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Section: Economic Policy Uncertainty and Environment Qualitymentioning

confidence: 99%

Environmental concerns of financial inclusion and economic policy uncertainty in the era of globalization: evidence from low & high globalized OECD economies

Ullah

Ali

Shah

et al. 2022

Environ Sci Pollut Res

View full text Add to dashboard Cite

show abstract

“…economic growth (Baker et al 2016) and at micro level, i.e. corporate investments (Akron et al 2020, Gulen andIon 2015) , corporate innovation (He et al 2020, Xu 2020), household consumption (Aaberge et al 2017, Levenko 2020) and stock market (Arouri et al 2016, Das et al 2019. In all, uncertainty reshapes the environment in which the economic entities operate.…”

Section: Theoretical Background and Hypothesismentioning

confidence: 99%

How Does Economic Policy Uncertainty Affect CO2 Emissions? A Regional Analysis in China

Liu

Zhang

2021

Preprint

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More recently, the COVID-19 pandemic outbreak has created massive economic policy uncertainty (EPU). EPU and its economic fallout have been a hot topic of study, however, the impact of EPU on CO2 emissions has been seldom addressed to date. This paper investigates the direct impact of the EPU on CO2 emissions and indirect effect via the environmental regulation at the national and regional levels using the panel data model and provincial panel data from 2003 to 2017 in China. The empirical results show that the central region is the most special one, which all explanatory variables except energy consumption are all non-significant even at the 10% level. For other samples, there is a significant positive correlation between EPU and CO2 emissions, whether in the national or regional level. Additionally, environmental regulation alone can achieve the purpose of curtailing carbon emissions. However, when the EPU is taken into consideration, environmental regulation exerts a significantly positive effect on CO2 emissions, leading to unintended increase in emissions. Moreover, the Environmental Kuznets Curve (EKC) hypothesis was confirmed in the national and eastern samples, while CO2 emissions increase monotonically as economic level grows for western datasets. Based on the overall findings, some policy implications were put forward.

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“…Today, as the worldwide politics and economics changes, especially the pandemic outbreak of the COVID-19 has created massive economic uncertainty (Baker et al 2020 ; Jordà et al 2020 ), the importance of the EPU becomes increasingly visible. EPU has a dampening impact both at the macro-level, i.e., economic growth (Baker et al 2013a ; Baker et al 2016 ; Baker et al 2020 ), and at the micro-level, i.e., corporate investments (Akron et al 2020 ; Gulen and Ion 2016 ), corporate innovation (He et al 2020 ; Xu 2020 ), household consumption (Aaberge et al 2017 ; Levenko 2020 ), and stock market (Arouri et al 2016 ; Das et al 2019 ). In all, uncertainty reshapes the environment in which the economic entities operate.…”

Section: Introductionmentioning

confidence: 99%

How does economic policy uncertainty affect CO2 emissions? A regional analysis in China

Liu

Zhang

2021

Environ Sci Pollut Res

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More recently, the COVID-19 pandemic outbreak has created massive economic policy uncertainty (EPU). EPU and its economic fallout have been a hot topic of study; however, the impact of EPU on CO 2 emissions has been seldom addressed to date. This paper investigates the effects of the EPU on CO 2 emissions. It elucidates the role of EPU in moderating the environmental regulation-CO 2 emissions nexus at the national and regional levels using the panel data model and provincial panel data from 2003 to 2017 in China. The main empirical results are as follows. The EPU has a negative impact on carbon emissions; however, this relationship is non-significant even at the 10% level in the central and western region datasets. Environmental regulation positively increases the CO 2 emissions implying that the green paradox occurs in the whole and western regions datasets. From the perspective of the moderating effect of uncertainty, EPU exerts a positive impact upon the environmental regulation-CO 2 emissions nexus in the whole and western region datasets. The moderating effect is not significant in the eastern and central regions. The results demonstrate that the re-examination of the EKC hypothesis is inconclusive. Kuznets relationship between economic growth and CO 2 emissions for the national, eastern, and central samples was confirmed. In contrast, CO 2 emissions monotonically rise as GDP grows for western datasets. Based on the overall findings, some policy implications were put forward. We recommend that the local government should consider EPU to improve the institutional environment. Further, different regions should implement various environmental policies according to regional conditions maximizing the emission reduction potential.

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Perceived uncertainty as a key driver of household saving

Cited by 28 publications

References 42 publications

Environmental concerns of financial inclusion and economic policy uncertainty in the era of globalization: evidence from low & high globalized OECD economies

Environmental concerns of financial inclusion and economic policy uncertainty in the era of globalization: evidence from low & high globalized OECD economies

How Does Economic Policy Uncertainty Affect CO2 Emissions? A Regional Analysis in China

How does economic policy uncertainty affect CO2 emissions? A regional analysis in China

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