UK's net-zero carbon emissions target: Investigating the potential role of economic growth, financial development, and R&D expenditures based on historical data (1870–2017)

Abstract

Highlights Analysis of the historical determinants of long-run CO 2 emissions in the UK Financial development and energy use increase CO 2 emissions, while R&D expenditures reduce them Environmental effect of economic growth supports the EKC hypothesis Relationship between R&D expenditures and CO 2 emissions is analogues to the EKC A U-shaped relationship is found between financial development and CO 2 emissions

The Race between Man and Machine: Implications of Technology for Growth, Factor Shares, and Employment

“…Lemma A2 then verifies that n * (t) = n > _ n (ρ) . Substituting the market-clearing conditions for capital and labor, (A3) and (A4), into (1), (2), and (3) and then subtracting the costs of intermediates, we obtain net output as F(k, L; n) . (When Assumption 2 holds, F(k, L; n) is given by the CES aggregate in equation (16)).…”

“…This estimate implies that about 60 percent of the 50 million or so jobs added during this 35-year period are associated with the additional employment growth in occupations with new job titles (relative to occupations with no new job titles). 2 We start with a static model in which capital is fixed and technology is exogenous. There are two types of technological changes: automation allows firms to substitute capital for tasks previously performed by labor, while the creation of new tasks enables the replacement of old tasks by new variants in which labor has a higher productivity.…”

“…Automation always reduces the labor share and employment, and may even reduce wages. 3 Conversely, the creation of new tasks 2 The relationship shown in Figure 1 controls for the demographic composition of employment in the occupation in 1980. In online Appendix B, we show that the same relationship holds between the share of new job titles in 1990 (in 2000) and employment growth from 1990 to 2015 (from 2000 to 2015), and that these patterns are present without any controls and when we control for average education in the occupation and the structural changes in the US economy as well.…”

The impact of financial development and geopolitical risk on renewable energy consumption: evidence from emerging markets

“…Some studies argue that renewable energy consumption enhances financial and economic development (Kemmler and Spreng 2007 ; Vasylieva et al 2019 ), whereas other extant literature found that FD spurs REC (Apergis et al 2020 ; Ji and Zhang 2019 ; Qamruzzaman and Jianguo 2020 ). Since developed countries work on zero-carbon emission plan (for example see Shahbaz et al 2020 ), emerging economies still account for a significant portion of GHG emissions worldwide (Apergis and Garzón 2020 ; Chen et al 2020 ). Therefore, we intend to highlight the relationship between FD and REC in emerging countries.…”

Socially responsible investing: from the ethical origins to the sustainable development framework of the European Union

“…For example, economic growth, trade openness and foreign direct investment are generally found to increase environmental degradation (Nasir et al 2019;Pham et al 2020), while financial development and energy use tend to increase CO 2 emissions. On the other hand, R&D expenditures and energy research innovations reduce them (Shahbaz et al, 2019(Shahbaz et al, , 2020Nguyen et al 2021). Nasir et al (2021) find that short-term bidirectional causality prevails between economic growth, energy consumption, industrialization and stock market development with CO 2 emissions.…”