Sustainability spillover effects and partnership between East Asia & Pacific versus North America: interactions of social, environment and economy

Abstract

The three sustainability pillars of social, environment and economy were initially introduced by the United Nations in 2002, addressing major global sustainability issues including economic problems, income inequality, environmental pollution and social shortcomings. Comparing East Asia & Pacific with North America, there is a growing concern over economic, political and even social competition as a result of recent development and industrialization that is taking place in Asian countries. This might lead to an unhealthy conflict that favors regional independency as opposed to the current globalization and trade facilitation trend. As a result, this study aims to assess the effects of development in three main pillars of sustainability (social, environment and economy) in the East Asia and Pacific on that of North America and vice versa. To estimate this interactive or spillover effects of sustainable development (or sustainability elasticities), our research employs Econometric methodologies including Simultaneous Equations System, Vector AutoRegressive (VAR) and Granger Causality approaches during 1971–2016. The results show that most of the sustainability elasticities are positive between and inside the two regions, supporting the synergetic character of the sustainability spillover effects and confirming constructive role of globalization and openness in the sustainability progress. Based on the results, this research suggests policy-makers to follow cooperative and flow-based governance rather than the placed-based or regional independent thinking that supports integrated sustainable development benefiting not only the two parties but also the overall global sustainability.

The return volatility and shock transmission patterns of chosen S&P and Dow Jones sustainability indices and their conventional counterpart

“…Remarkably, the S&P400 SUS, S&P500 SUS and S&P50 SUS continue to be net receivers of shocks as they score values of 16.07%, 15.73% and 11.73%, respectively. Whereas the S&P400 remains a net receiver, this result is consistent with (Nodehi et al , 2021). In addition to a major drop in stock indices (Bai et al , 2020), this pandemic has seen a spike in stock market volatility (Ben Amar et al , 2021; Umar et al , 2021; Youssef et al , 2021), resulting in massive investment losses.…”

Fossil fuel price policy and sustainability: energy, environment, health and economy

“…It paves the way for estimating the required prices to decrease the fossil fuels according to the UN mitigation targets as a price policy to change the current trend of fossil fuel consumption and CO 2 production until 2030. These estimations show us how much the price policy affects sustainable development pillars, including economy (Ahmadi et al , 2021; Nodehi et al , 2021), environment (Taghvaee et al , 2021a; Zhao et al , 2021), social (Wang et al , 2020) and health (Dhrifi, 2019) in case of achieving the UN mitigation targets that are further discussed in the following sections. The main contribution of this study is the estimation of a target price for various kinds of fossil fuels in Iran as a tool for decision-makers to manage energy demand.…”

Natural disasters and agricultural trade in China: analyzing the role of transportation, government and diplomacy

“…This country has one of the greatest economies and agriculture in the world, and its large area allows a wide variety of natural disasters. Its concentrated governance system and specific international relations highlight the necessity of exploring the role of government and international ties in moderating the effect of natural disasters on agricultural production and trade (Nodehi et al ., 2022; Wang et al ., 2023).…”