Endorsing sustainable development in BRICS: The role of technological innovation and renewable energy consumption, and natural resources in limiting carbon emission.

Unleashing the dynamic impact of tourism industry on energy consumption, economic output, and environmental quality in China: A way forward towards environmental sustainability

The present study investigates the effect of institution quality, technological innovation, and financial development on environment quality using 37 OECD nations from 1998 to 2018. The cross-sectional dependence (CD) and Lagrange multiplier (LM) techniques are used to measure the cross-sectional dependence. The second-generation panel unit root tests and panel cointegration tests are applied to examine the unit-root properties and long-run association existence between variables. Finally, we employed the two-step (SYS-GMM) methodology to estimate the coefficient values. The findings showed that financial development has a positive effect on selected carbon (CO2) emission dimensions. When the moderating term is introduced, it was identified that institutional quality and technology innovation conditioning effects are crucial between financial development and CO2 emission. Our evidence-based study provides significant results for technology innovation and institutional quality moderating role in reducing CO2 emissions in OECD economies. Our findings are also robust to alternative measures, which could be useful for policymakers to formulate long-term and short-term strategies and policies for a better sustainable environment. 

/pdf/the-nexus-of-financial-development-technological-innovation-m1iruwvh.pdf

The nexus of financial development, technological innovation, institutional quality, and environmental quality: evidence from OECD economies

Do coal efficiency, climate policy uncertainty and green energy consumption promote environmental sustainability in the United States? An application of novel wavelet tools

Environmental quality and energy transition prospects for G-7 economies: The prominence of environment-related ICT innovations, financial and human development.

Environmental consequences of financial aspects, policy uncertainties and rapid globalization is the topic of intense debate in present years. However, this study contribute to existing literature in an innovative way. We classified the 33 OECD economies in two group's lower globalized economies (LGE) and highly globalized economies (HGE), based on their level of globalization. Considering the cross-sectional dependency and slope heterogeneity in the data this study employed the Augmented Mean Group method to estimate the influence of financial inclusion, economic policy uncertainty and globalization on the environment quality of both groups for the period 1996-2019. The results revealed a negative significant impact of financial inclusion, while a positive significant impact of economic policy uncertainty on CO2 emissions in both groups, LGE and HGE. However the globalization estimated to have positive impact on CO2 emission in LGE's, in HGE's it is significantly impeding the CO2 emission. The interaction of globalization with financial inclusion and economic policy uncertainty respectively found negative and positive to effect the CO2 in both LGE's and HGE's. The study suggests that, LGE's are need to prepare for economic globalization, move toward adopting energy-efficient technology and promote trade in less-polluting products in order to sustain their environment quality. The outcomes of this study are robust by employing different model specifications. 

/pdf/environmental-concerns-of-financial-inclusion-and-economic-3fhf1sa8.pdf

Environmental concerns of financial inclusion and economic policy uncertainty in the era of globalization: evidence from low & high globalized OECD economies

A study on the moderating role of national absorptive capacity between institutional quality and FDI inflow: evidence from developing countries

Does energy conversion contribute to economic development in emerging and growth leading economies (EAGLE’s): evidence from panel ARDL approach

Given the lack of strong institutional framework and relatively unstable political situation in developing countries, it is very essential to come up with a different and suitable monetary policy for those countries A longstanding macroeconomic issue is how monetary policy affects the real economy Asset price channel is one of the most important channels of monetary transmission mechanism In this study, we explored the asset price channel of monetary transmission mechanism in a developing country’s setup We carried out our analysis in the framework of Vector Auto Regression while taking account of all the limitations of time series data Our benchmark model accounts for simultaneity and interdependence among variables We tested for both short and long term relationships Our data set contains quarterly data for twenty years We applied Johansen Co integration test, Vector Error Correction Model and Granger causality We came across some puzzling and alarming results  Our analysis reveals that stock prices have a negative long run relationship with investment and output while it is generally expected that a tight monetary policy is linked with decrease in prices  This kind of puzzling results should be taken into consideration by the central bank Further, the analysis of the long term relationship between investment and other variables reveal that there is negative long run relationship between investment and interest rate; therefore, the central bank should be cautious while taking monetary policy actions Interest rate is not causing any of the variables included in the asset price channel which means that interest rate is a weak policy tool as for as its effect in the asset price channel is concerned Keywords : Asset price channel, monetary transmission mechanism, money supply, stock prices, economic policies

/pdf/monetary-policy-and-asset-price-channel-recommendations-for-4d0zxt7do1.pdf

Monetary Policy and Asset Price Channel: Recommendations for the Policy Makers of Developing Countries

This study examines the relationship of economic growth with civilian and military portions of government expenditure for two neighboring countries and nuclear powers; India and Pakistan. Considering the rough bilateral relationship between the two countries, the paper also seeks to determine the existence of arms race between them. For this purpose, Johansen cointegration and Granger causality tests are applied while taking account of the limitations of time series data.  Our cointegration results indicate a positive impact of military spending on economic growth for India and a negative impact for Pakistan. In case of government civilian expenditure and economic growth, the relationship is statistically insignificant for Pakistan while it is negative and significant for India. The Granger causality results show lack of any causal relationship of economic growth with government and military spending for Pakistan. In case of India, economic growth is Granger caused by government as well as military expenditure. Bidirectional causality is found between defense spending of India and defense spending of Pakistan. Keywords: Government expenditure, Military expenditure, Economic Growth, Arms race, Cointegration, Granger causality

/pdf/arms-race-economic-growth-and-government-military-and-non-2439lx5kzg.pdf

Arms Race, Economic Growth, and Government (Military and Non Military) Expenditure: Empirical Investigation for India and Pakistan

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