Towards sustainable competitiveness: How does financial development affect dynamic energy efficiency in Belt &amp; Road economies?

Mills, Ebenezer Fiifi Emire Atta; Dong, Jie; Liu, Yiling; Baafi, Mavis Agyapomah; Li, Bing; Zeng, Kailin

doi:10.1016/j.spc.2021.01.027

Cited by 47 publications

(16 citation statements)

References 51 publications

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“…First, it can help expand business manufacturing processes, which eventually leads to more carbon emissions. Second, it can facilities the attraction of FDI, which may result in more pollution if the host nation has inadequate environmental regulations [59,60]. Therefore, the next hypothesis is valid: Hypothesis 4 (H4): Financial development influences dynamic ecological efficiency in Africa.…”

Section: Index Selection Of Contextual Variablesmentioning

confidence: 99%

“…(4) Trade: Farhani et al [61] and Atta Mills et al [59] suggested that the overexploitation of natural resources resulting from trade impedes environmental efficiency. However, Shahbaz and Lean [62] argued that trade offers host countries the advantage to international markets, leading to competition among nations and importing cleaner technologies to reduce CO 2 emissions.…”

Section: Index Selection Of Contextual Variablesmentioning

confidence: 99%

“…Borozan [66], Atta Mills et al [59], and Luo et al [53] suggested that the Tobit regression should be adopted to perform further robustness tests to confirm the credibility of the initial regression estimates. Therefore, this study employs the Tobit regression technique as a further robustness check tool.…”

Section: Robustness Test Via Tobit Regression Modelmentioning

confidence: 99%

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Towards Ecological Sustainability: Assessing Dynamic Total-Factor Ecology Efficiency in Africa

Amowine

Boamah

et al. 2021

IJERPH

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Ecological footprint (EF) and human development index (HDI) are two critical indicators for assessing sustainable development worldwide. Past studies in Africa have ignored dynamic sustainable total-factor ecological efficiency (DSTFEE) assessment. This present study proffers a novel dynamic sustainable total-factor ecological efficiency (DSTFEE) that comprehensively assesses the ecological efficiency among 44 sampled African economies from 2010 to 2016. Our study incorporates EF and HDI in the model. Second, the study evaluates regional DSTFEE heterogeneity efficiency as well as the technological gap efficiency in Africa. Further, projection analysis is done to offer a viable solution path to address the inefficient African countries. Third, the study investigates the determinants of ecological efficiency using the bootstrap truncation regression technique. The results from the implemented models are as follows: first, the DSTFEE for the 44 sampled African countries is very low (0.403), indicating enormous potential for improvement. Second, the heterogeneity of DSTFEE across the five Africa regional blocs is evident. The southern bloc had the highest efficiency score, followed by the northern, central, western, and eastern regions. The technology gap ratio also reveals a massive gap among the five Africa regional blocs. Third, the bootstrap truncation regression results established a U-shape nexus between growth and DSTFEE in Africa. REC and trade openness is positively corrected to DSTFEE for African countries. In contrast, financial development, foreign direct investment (FDI), and urbanization impede dynamic ecological efficiency in Africa. The study’s results equip African countries with adequate knowledge of their ecological efficiency situation and provide them a viable path to improve environmental efficiency, thereby boosting their ecological sustainability.

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Section: Index Selection Of Contextual Variablesmentioning

confidence: 99%

Section: Index Selection Of Contextual Variablesmentioning

confidence: 99%

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Towards Ecological Sustainability: Assessing Dynamic Total-Factor Ecology Efficiency in Africa

Amowine

Boamah

et al. 2021

IJERPH

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“…Based on the panel data of 33 BRI countries for the period of 2000-2016, Liu et al [38] suggested that the overall energy efficiency of these countries was continually falling, and the average energy efficiency of the BRI countries has declined since 2013. By applying the data envelopment analysis (DEA) method, Atta Mills et al [39] found that the overall energy efficiency of 58 BRI countries is relatively lower than other countries, and only 7 West Asian and North African countries are energy efficient. For the panel data of 90 BRI countries for the period of 1990-2017, Ahmad et al [40] found that there exists a bidirectional causality among finance development, trade openness, and energy consumption with carbon emissions.…”

Section: Literature Reviewmentioning

confidence: 99%

Heterogeneous Effects of the Belt and Road Initiative on Energy Efficiency in Participating Countries

Shi

2021

Energies

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The Belt and Road investment involves a large number of renewable energy projects, but whether the energy efficiency is linked to the Belt and Road Initiative (BRI) cooperation has yet to be established in the literature. This research attempts to close this gap by looking at how the BRI affects the energy efficiency of participating nations after the fact through a counterfactual analysis. Based on the Difference-in-Difference-in-Difference (DDD) and quantile DID methods for the panel dataset covering 178 nations and areas for the period of 2002 to 2018, we explored the impacts of BRI on energy efficiency vary by different energy efficiency quantiles, resource endowments, and income levels. First, the positive effects of BRI are significant in medium-and high-energy efficiency quantiles but are not significant in low-energy efficiency quantiles for up to 30%. Second, the BRI tends to increase more energy efficiencies in resource-rich BRI countries than those in resource-poor BRI countries. Third, the BRI tends to increase more energy efficiencies in low-income BRI countries than those in high-income BRI countries. The findings can assist BRI countries in improving energy efficiency and sustainable development capacity under the initiative, thus resolving the increasing anxieties in climate change and environmental pollution in this area.

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“…Competitiveness of an economy is also affected by other business-related factors, such as reliability and trustworthiness of undertakings, quality of their production, demand for their products, energy efficiency [14], the ability of undertakings to respond flexibly to the required changes etc., which are often difficult to quantify. The level of development of small and medium entrepreneurship directly determines the degree of development of the country's economy as a whole [15].…”

Section: Economic Growthmentioning

confidence: 99%

Assessment of the competitiveness of countries as a tool to increase the sustainability of their socio-economic development

et al. 2021

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The competitiveness of individual economies belongs to the issues frequently discussed among experts as it is closely connected with and reflects the economic situation in different countries. The focus of the present article is the survey of the development of competitiveness of selected economies and the subsequent comparison thereof. In order to further specify this focus, we concentrated on the economies of the Russian Federation and Germany. These economies are regarded as strong and efficient global economies that put emphasis on continuous growth. The economy of the Slovak Republic was selected as the secondary focus of the article as it is an open economy cooperating with major economic players, including the countries representing the subject of this article. The key criterion for the evaluation of the development was the Global Competitiveness Index and the monitored period was 2008-2017. The article contains two basic parts; the first part represents a theoretical framework of the discussed topic and the second part provides the comparison and confrontation of competitiveness in the selected economies. The final part of the article contains the identification of potential weaknesses and strengths of the evaluated economies.

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Towards sustainable competitiveness: How does financial development affect dynamic energy efficiency in Belt & Road economies?

Cited by 47 publications

References 51 publications

Towards Ecological Sustainability: Assessing Dynamic Total-Factor Ecology Efficiency in Africa

Towards Ecological Sustainability: Assessing Dynamic Total-Factor Ecology Efficiency in Africa

Heterogeneous Effects of the Belt and Road Initiative on Energy Efficiency in Participating Countries

Assessment of the competitiveness of countries as a tool to increase the sustainability of their socio-economic development

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