Linking clean energy consumption, globalization, and financial development to the ecological footprint in a developing country: Insights from the novel dynamic ARDL simulation techniques.

Developing countries have been facing economic difficulties for over three and a half decades due to numerous factors, including fossil fuel consumption and dwindling biocapacity. It is necessary to pinpoint the factors that may be culpable for poor environmental quality leading to a rising ecological footprint (EFP). This study explores the effect of clean energy, financial development (FDV), and globalization on the EFP in a developing country using the novel dynamic ARDL simulation techniques and the bootstrap causality test. The findings suggest that green energy has no meaningful impact on the EFP. Globalization and FDV significantly reduce the EFP by 0.25% and 0.08%, respectively. Besides, the findings confirm the existence of the EKC hypothesis. Furthermore, the causality results affirm a unidirectional causality from globalization and FDV to EFP, while economic growth drives globalization. Also, a one-way causality flows from globalization to FDV, just as FDV Granger causes green energy. In line with the findings, the study recommends that public policies focus on funding environmental-friendly technologies and green innovations. The funding must be on recently developed energy-saving technologies that can ensure complementarity between increased economic growth and environmental deterioration.

Can clean energy and technology address environmental sustainability in G7 under the pre-set of human development?

Climate change presents challenges for both industrialized and developing nations, primarily due to insufficient pollution control. Increased fossil fuel usage escalates pollution levels, emphasizing the need to integrate more renewable energy into the energy mix, particularly to reduce carbon emissions. Consequently, public investment in renewable energy becomes pivotal to enhance the necessary technology for green energy production. Human development and technological progress play a crucial role in advancing green energy and ensuring environmental sustainability. This study addresses whether clean energy and technology can foster ecological sustainability in the G7 while considering human development. Findings emphasize the significance of public investments in renewable energy projects, technical innovation, and human development. Such investments are essential for augmenting renewable energy shares and lowering carbon emissions in the long run. The study proposes relevant policies to help G7 nations achieve United Nations Sustainable Development Goals related to green energy transition (SDG-7), environmental sustainability (SDG-13), and innovation (SDG-9). In essence, prioritizing renewable energy investment and innovation is imperative for sustainable development.

Forecasting oil, coal, and natural gas prices in the pre-and post-COVID scenarios: Contextual evidence from India using time series forecasting tools.

Stock market price prediction is considered a critically important issue for designing future investments and consumption plans. Besides, given the fact that the COVID-19 pandemic has adversely impacted stock markets worldwide, especially over the past two years, investment decisions have become more challenging for risky. Hence, we propose a two-phase framework for forecasting prices of oil, coal, and natural gas in India, both for pre-and post-COVID-19 scenarios. Notably, the Autoregressive Integrated Moving Average, Simple Exponential Smoothing, and K- Nearest Neighbor approaches are utilized for analyses using data from January 2020 to May 2022. Besides, the various outcomes from the analytical exercises are matched with root mean squared error and mean absolute and percentage errors. Overall, the empirical outcomes show that the Autoregressive Integrated Moving Average method is appropriate for predicting India's oil, coal, and natural gas prices. Moreover, the predictive precision of oil, coal, and natural gas in the pre-COVID-19 period seems to be better than in that the post-COVID-19 stage. Additionally, prices of these energy resources are forecasted to increase through the year 2025. Finally, in line with the findings, significant policy recommendations are made.