Asymmetric openness-environment nexus in most open OIC countries: new evidence from quantile-on-quantile (QQ) estimation.

Trade openness continues to have the potential to influence many parts of today's society, including religion, transportation, lifestyle, language, and international relations; however, its ability to impact environmental quality is the primary issue for environmental policy guidelines. In response to an increasing interest in finding the dynamic association between trade openness and environmental quality, the current study explores the trade openness- environmental quality nexus in the ten most open Organization of Islamic Cooperation (OIC) countries for the years 1991 to 2018. By taking CO2 emissions and ecological footprint as environmental indicators, a novel methodology "quantile-on-quantile (QQ)" is used to indicate how different quantiles of trade openness asymmetrically affect the quantiles of environmental indicators by providing an adequate pattern to comprehend the overall dependence structure. A negative openness-CO2 emissions association is dominant in seven out of ten selected OIC countries (i.e., Suriname, Malaysia, Jordan, UAE, Libya, Brunei, and Qatar). On the other hand, a positive impact of trade openness on ecological footprint is dominant in eight out of ten selected OIC countries (i.e., Oman, Jordan, UAE, Libya, Bahrain, Brunei, Qatar, and Kuwait). The outcomes indicate that the asymmetric strength of openness-induced environmental quality differs with countries at both upper and bottom quantiles of data distribution that need specific attention in contending trade and environment policies in OIC countries.

Financial inclusion-environmental degradation nexus in OIC countries: new evidence from environmental Kuznets curve using DCCE approach.

The disastrous consequences of climate change for human life and environmental sustainability have drawn worldwide attention. Increased global warming is attributed to anthropogenic greenhouse gas (GHG) emissions, biodiversity loss, and deforestation due to industrial output and huge consumption of fossil fuels. Financial inclusion can be acted as an adaptation or a mitigation measure for environmental degradation. This study analyzed the impact of financial inclusion on environmental degradation in OIC countries for the period 2004-2018. A novel approach, "Dynamic Common Correlated Effects (DCCE)" is used to tackle the problem of heterogeneity and cross-sectional dependence (CSD). Various GHG emissions along with deforestation and ecological footprint are used as indicators of environmental degradation. Long-run estimation confirms that financial inclusion is positively and significantly linked with CO2 emission, CH4 emission, and deforestation while negatively correlated with ecological footprint and N2O emission in overall and higher-income OIC economies. An inverted U-shaped environmental Kuznets curve (EKC) is validated when ecological footprint, CO2, and CH4 are used in all panels of OIC countries. An inverted U-shaped EKC is also observed for deforestation in lower-income and overall OIC countries. In the case of N2O emission, however, a U-shaped EKC appears in lower-income and overall OIC countries. It is suggested that the governments of OIC countries should continue to have easy access to financial services and maintain sustainable use of forests and biocapacity management to address environmental challenges.

Trade-environment nexus in OIC countries: fresh insights from environmental Kuznets curve using GHG emissions and ecological footprint.

Being closely correlated with income and economic growth, trade openness impacts the environmental quality through different means. The study analyzes the robustness of the environmental Kuznets curve (EKC) hypothesis in OIC countries by examining the extent to which trade openness influence environmental quality through different environmental indicators for the period 1991 to 2018. A new methodology dynamic common correlated effects (DCCE) is applied to resolve the issue of cross-sectional dependence (CSD). We have used greenhouse gas (GHG) emissions, carbon dioxide (CO2), methane (CH4) and nitrous oxide (N2O) along with ecological footprint as indicators of environmental quality. Results of DCCE estimation identify a negative association of trade openness with CO2, N2O, and CH4, while the positive relationship with the ecological footprint in overall OIC countries and higher income OIC countries. On the other hand, trade openness has a positive association with all environmental indicators in lower income OIC countries. Our findings confirm that inverted-U-shaped EKC exists in all groups of OIC countries when CO2, CH4, and ecological footprint are used as environmental indicators. However, a U-shaped EKC exists in overall OIC countries and lower income OIC countries when N2O is used. Eventually, it is recommended that if OIC countries continue trade openness policies and energy sector reforms and maintain sustainable use of biocapacity; then, they will be able to combat environmental issues with the increase in income.

Dynamic common correlated effects of trade openness, FDI, and institutional performance on environmental quality: evidence from OIC countries.

The study aims to address the dynamic common correlated effects of trade openness, FDI, and institutional performance on environmental quality in OIC countries. Mostly, pollutants like CO2 and SO2 emissions are considered as the environmental indicators. However, for this study, we have selected ecological footprint as the indicator of environmental quality. The new econometric approach Dynamic Common Correlated Effects (DCCE) by Chudik and Pesaran (2015) has been used to measure the cross-sectional dependence among cross-sectional units. Results confirm that previous techniques for long panel data, like MG and PMG, give ambiguous outcomes in the presence of cross-sectional dependence. According to DCCE estimation, trade openness, FDI, and urbanization have a positive and significant relationship with ecological footprint while a significant and negative association is found between institutional performance and ecological footprint. The OIC countries must encourage green technology, clean production, and improved institutions for sustainable development and better environmental quality.

Assessing the impacts of globalization and gender parity on economic growth: empirical evidence from OIC countries.

The contemporary debate on globalization and gender equality has a strong impact on economic growth. The present study analyzes the impacts of globalization and gender parity on economic growth in the Organization of Islamic Cooperation (OIC) 47 member countries for the period (1991-2017), using System GMM panel data technique. The results of system GMM have also been empirically estimated by making two groups (viz., low-income and high-income OIC member countries from the World Bank data classification, 2019) to examine the robustness of globalization and gender parity on economic growth. The results reveal that there is a negative impact of globalization on economic growth in the overall sample of OIC countries. When estimated by decomposing low-income countries and high-income countries, globalization has a significantly positive impact on economic growth in the case of high-income OIC countries, whereas globalization slashes GDP in the case of low-income OIC countries. The study finds that there is a positive impact of gender parity (ratio of female to male labor force work participation) on economic growth. Moreover, foreign remittances, government expenditures, capital formation, and human capital are also becoming the causes of a significant increase in economic growth in OIC member countries.

Assessing the comparative advantage of broiler production in Peninsular Malaysia using policy analysis matrix.

Broiler meat is the largest and cheapest protein source in Malaysia. Using the policy analysis matrix (PAM), this study examines the comparative advantage of broiler production in Peninsular Malaysia. Three hundred and ten farms in Peninsular Malaysia were involved in a field survey. The results of the domestic resource cost (DRC) show that Malaysia has a comparative advantage in all scales of broiler production. Sensitivity analysis indicates that the changes in input prices have a significant effect on comparative advantage. Nonetheless, the industry should reduce its dependence on corn-based feed, which is expensive and has an unstable price, to increase competitiveness in further securing its comparative advantage.