Exchange rate volatility and India-US commodity trade: evidence of the third country effect.

The relationship between trade flows and exchange rate uncertainty is still being debated in academic circles while examining the effects of exchange rate uncertainty on India's bilateral trade flows, prior research disregard the "third-county" effect. This study investigates the effect of third-country risk on the amount of India-US commodity trade using time series data for 79 Indian commodity export and 81 Indian commodity import businesses. The results show that the volume of trade in a select few industries is considerably impacted by third-country risk in terms of dollar/yen and rupee/yen. According to the findings, rupee-dollar volatility affects 15 exporting industries in the short run and 9 industries in the long run. Similarly, the third country effect demonstrates that Rupee-Yen volatility affects 9 Indian exporting industries both in the short and long run. The results show that rupee-dollar volatility tends to have a short-term impact on 25 importing industries and a long-term impact on 15 sectors. Similar to this, the third country effect demonstrates that Rupee-Yen volatility tends to have an impact on 9 Indian importing industries over the short and long term.

An approach to the pollution haven and pollution halo hypotheses in Asian countries.

Present climate change consists of global warming that is caused by the emission of greenhouse gases, generally carbon dioxide. The study examines the pollution haven, pollution halo, and environmental Kuznets curve for a number of Asian countries during the period of 1985 to 2020. Outcomes suggest that urbanization, gross domestic product per capita, energy consumption, and foreign direct investment inflow have positive effects, while gross domestic product square, foreign direct investment square, and tourism have negative effects on emissions of carbon dioxide. Furthermore, findings support the validity of the environmental Kuznets curve, pollution haven, and pollution halo hypothesis for the selected Asian countries. We also find robust results of rationality of the environmental Kuznets curve hypothesis for Pakistan, Bangladesh, India, China, Indonesia, Korea, Japan, Malaysia, Vietnam, and Singapore; of pollution haven hypothesis for Bangladesh, China, Indonesia, Japan, Pakistan, and Singapore; and of pollution halo hypothesis for Bangladesh, China, Indonesia, Japan, Pakistan, and Singapore.

Nexus between biomass energy and economic growth: evidence from the next eleven countries.

In recent years, biomass energy tends to be one of the important sources of renewable energy in the world. The main objective of current research is to evaluate the impact of biomass energy on the economic growth of NEXT-11 economies. The data used in "the study is based on panel data of NEXT-11 covering the period 1990 to 2019. The included variables are GDP, biomass energy (BE) school enrollment gross ratio (SEGR; trade openness (TO; population growth (PG; and CO2 emission (CO2)." For estimation, this study applied the fully modified ordinary least square (FMOLS) and dynamic ordinary least square (DOLS) approaches. The results of FMOLS and DOLS analysis indicate a statistically significant and positive relationship among all the variables in our sample of nations. According to the findings, an increase in biomass energy use tends to positively affect economic growth. To meet the challenge of global warming, these countries need to increase their technical development and inventions as well as they need to improve biomass energy use.

Dynamic reflections of multidimensional health poverty in Pakistan.

The recent methodological development has entirely shifted the identification of poor in the multidimensional spectrum; thereby addressing the multiple health spheres. The present research primarily examines the dynamics of multidimensional health poverty on the basis of HIES & PSLM nationwide survey data from 2013-14 to 2018-19. The study employed Alkire & Foster Alkire, S (2007) Multidimensional Poverty Index to estimate the seven distinct dimensions of health aspects to identify the poor. The results of health poverty demonstrate a declining trend over time at national, provincial and regional level in Pakistan. Interestingly, the regional statistics indicated the poverty as a rural phenomenon of Pakistan. Comparative measures of provinces reveal that Baluchistan has been a severe victim of health poverty at overall as well as regional level during the study period. The population decomposition elaborates that individuals residing in two most populated provinces Punjab & Sindh, were the major contributor to overall profile of health poverty. Findings of dimensional decomposition exposes that five key dimensions i.e. use of health services, quality of health services, maternal health, child health and malnutrition have contributed to the overall profile of multidimensional health poverty.

An asymmetric analysis of the role of exports and imports in consumption-based carbon emissions in the G7 economies: evidence from nonlinear panel autoregressive distributed lag model.

A genuine concern faced by the present world is global warming. Millions of human and animal lives are at risk due to global warming. Therefore, the subject has gained enormous attention from research and academia around the world. Literature shows that the primary cause of global climate change or global warming is carbon (CO2) emissions. Hence, the role of a reliable carbon emission measurement is important for devising a relevant climate policy to deal with environmental problems. Based on trade-adjusted statistics of carbon emissions, a relevant climate policy response can be provided. Unlike the previous studies, this study examines the asymmetric impact of international trade on consumption-based carbon emissions from 1990 to 2017 in the G7 economies. To get empirical estimates, the study applies second-generation co-integration technique and nonlinear panel autoregressive distributive lag (NPARDL) model for estimating the relevant coefficients. The empirical results show that positive growth of exports significantly decreases consumption-based carbon emissions both in the short and long run, whereas the impact of negative growth of exports is insignificant. For imports, the results show that, over time, positive growth of imports significantly increases consumption-based carbon emissions in the long run, while the impact of negative growth of imports is insignificant. Finally, it is recommended for the policymakers to target the export industries for relevant policy interventions, which are less polluting and can generate other economic benefits as well.

Globalization, financial development, and environmental sustainability: evidence from heterogenous income groups of Asia.

This study examines the effects of energy use, financial development, and globalization on carbon dioxide emissions for Asian countries comprising the panel data over the period 1990-2017. To account for cross-sectional dependence, Pesaran cross-sectional dependence test is used. The second-generation tests are used to determine the stationarity level of the variables. Furthermore, the Westerlund panel cointegration test confirms cointegration among the variables. For long-run association, fully modified ordinary least squares approach is used. The study also used Dumitrescu and Hurlin's (Econ Model 29:1450-1460, 2012) panel causality test to explore the causal relationship among the variables. The results suggest that financial development contributes to carbon emissions, whereas globalization helps to mitigate emissions. As financial development deteriorates environmental quality, therefore, the government should monitor the disbursement of loans for research and development, green financing, and efficient products that reduce resource consumption and improves environmental quality. Financial development should not compromise environmental quality and endanger sustainability. Such findings show that both renewable energy industries and financial development in the Asian economies are not meeting the maturity level in terms of leading to changes in environmental quality. Furthermore, Asian countries should promote globalization to support the inflow of green technologies to enhance environmental quality.

Exploring the asymmetries between trade and consumption-based carbon emissions: evidence from NPARDL approach.

Global warming is one of the most serious environmental problems that the world faces today. Millions of human lives are at risk, hence the subject has gained enormous attention within academia and the research arena. Literature shows that the primary cause of global climate change or global warming is carbon (CO2) emissions. In the literature, a number of studies have investigated the factors affecting the overall level of carbon emission. However, in recent years, consumption-based carbon emissions have occupied the center stage in research related to international trade and environmental concerns. The recently emerged idea of carbon emissions based on consumption differs from conventional accounting (i.e., carbon emissions based on production) in that it highlights the importance of international trade in national carbon emissions. Unlike the previous studies that examined the symmetric effect of international trade on consumption-based carbon emission, the present study examines the asymmetric effect of international trade on consumption-based carbon emissions of emerging economies. To get empirical estimates, the study applies a Nonlinear Panel Autoregressive Distributive Lag (NPARDL) approach. The estimates show that both in the short and long run, a positive shock in exports significantly reduces consumption-based carbon emissions in developing economies. Whereas, a negative shock in exports has an insignificant impact on carbon emissions. For imports, the results show that, over time, positive shocks in imports significantly increase consumption-based carbon emissions, while the impact of negative shocks is insignificant. Finally, it is recommended for the policymakers to target the export industries for relevant policy interventions, which are less polluting but crucial for economic growth.

Do technological innovations promote green growth in the European Union?

The present study aims to investigate the impact of climate change technologies on green growth for a panel of overall European economies, Eastern, and Western European economies over 2000 to 2017. The study estimates the STIRPAT (stochastic impacts by regression on population, affluence, and technology) and IPAT (human impact, population, affluence, and technology) models with a particulate focus to address the issue of cross-sectional dependence and cross-sectional heterogeneity in the model by using Westerlund cointegration approach and fully modified ordinary least square (FMOLS) approach. After confirming the cointegration relationship, the findings indicate that in the case of IPAT model, energy-related climate change technology contributes towards green growth, while in case of STRIPAT model, environment-related budget tends to have favorable impact on green growth. However, other variables, such as transport and production-related climate change technologies along with energy consumption, tend to have negative impact on green growth. The findings are almost robust concerning Eastern and Western Europe. The findings indicate that renewable energy is pro-growth and thus the authorities concerned need to promote and encourage the use of renewable energy. In this regard, the role of public-private-partnership is important as well as policymakers need to allocate environment-related specific budget and extend exemption in taxes on the use of environment-friendly technologies. Renewable energy programs ensure an improved return on green growth, although costly to implement. Attention needs to be focused on technologies related to wind power, solar electricity, biogas for electricity and heat generation, and biofuels for transport from low initial levels. Thus, policymakers should focus on the positive impact of environmental regulations. Polluting industries should be taxed to adopt clean technologies and clean industries should be supported with tax exemption as an incentive. Moreover, the research and development (R&D) budget should be increased.

Analyzing the linkage among CO2 emissions, economic growth, tourism, and energy consumption in the Asian economies.

The study empirically explores the long-run dynamic influence of output, tourism, energy use, trade, financial development, and urbanization on CO2 emissions in the framework of EKC for Asian economies for the time period 1995-2017. In this study, we tackle cross-sectional dependence problem and use CADF and CIPS unit root tests in contrast to conventional unit root tests. Moreover, we employ LM bootstrap panel co-integration test. The results of DOLS show that GDP and GDP squares have opposite signs which shows inverted u-shaped hypothesis between GDP growth and carbon emissions. We find an evidence of EKC proposition in case of Asian economies. Tourism has a vital role in increasing environment degradation of Asian economies as magnitude of coefficient is 0.132. Moreover, energy use, urbanization, trade, and financial development have direct and a profound impact on environmental degradation. The empirical results thus point to the fact that tourism, trade openness, and urbanization have contributed to the environmental degradation in the Asian region. Hence, the counties of the region should harness renewable energy sources along with environment-friendly technologies to support the tourism at a sustainable level that may be conducive to economic growth and environmental quality as well.

Analyzing extended STIRPAT model of urbanization and CO2 emissions in Asian countries.

CO2 emissions tend to increase more rapidly in underdeveloped economies as compared to developed countries mainly in China, India, and Asia. One of the aspects that accounts for the increasing CO2 emissions is urbanization (UR) and it is increasing all over the world particularly in Asian and African regions. The present study examines the impact of energy use and UR on carbon emissions over the period 1995 to 2018 while using the extended STIRPAT model for Asian countries. Panel co-integration techniques and Granger causality test are applied on selected variables. FMOLS and DOLS methods are also applied to check for robustness. Findings confirm the presence of long-run co-integration among variables. The outcomes propose that energy consumption and UR have positive impact on CO2 emissions and output. Outcomes also reveal that financial development (FD) has negative effect on emissions of CO2 but positive effect on economic growth. Results of Granger causality technique indicate that long-run causality association exists among emissions of CO2, economic growth, and UR. In the short run (SR), bidirectional causal relationship has been found between trade openness and FD.

Economic growth, financial development, and trade in nexuses of CO2 emissions for Southeast Asia.

In energy economics literature, we found few studies on the association between environmental quality energy consumption and financial development. The current study is an attempt to contribute in literature by examining the link between carbon dioxide (CO2) emissions, financial development, energy consumption, and economic growth, in South East Asian economies for the period 1980-2017 using annual time series data. For empirical analysis, Bound tests for cointegration and error correction approach are used. The estimated results confirm that financial development has positive impact on environmental quality. On the other hand, in the long run, the rise in energy consumption economic growth and trade openness is unfavorable for environment quality. Our results confirm U-shaped relationship between economic growth and environmental quality that is a proof of environmental Kuznets curve (EKC). Additionally, the government needs to design different modes of energy consumption to solve the problem of environmental degradation. Moreover, the major conclusion extends new insight for authority to make a comprehensive trade and financial policies to improve environmental quality.

Revealing the environmental pollution in nexus of aviation transportation in SAARC region.

The environmental degradation has put serious concern among the nations at global level, yet contented measures are still lagged behind the prospective outcomes. This study is aimed at analyzing the existence of "aviation transportation Kuznets curve" together with "environmental Kuznets curve" in perspective of greenhouse gas (GHG) emissions for the SAARC region during 1980 to 2018. The panel unit root test summary applied to panel data indicates the first difference order while panel fisher cointegration shows long-run association among the considered variables. The econometric results by fully modified least square (FMOLS) validate the existence of "inverted U-shaped" Kuznets curve for environment as (EKC) and aviation transported carriage (ATC) while "U shaped" aviation transported passenger (ATP) is observed in context to greenhouse gas (GHG). In addition, the dynamic ordinary least square (DOLS) exhibits "inverted U shaped" for aviation transportation while GDP has an increasing trend of "U-shaped" curve. The pairwise Dumitrescu-Hurlin panel causality shows unidirectional association from economic growth, trade openness, and aviation sector to greenhouse gas (GHG) emissions. Therefore, it is an urgent need of the hour for the SAARC region to consider the sustainability of the environment by key sector. This analysis suggests that SAARC nations must focus on exploiting renewable energy means along with implementing fuel-saving traveler and merchandise expertise that thoroughly cuts the diesel fuel.