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Öğe Assessment of the influence of institutions and globalization on environmental pollution for open and closed economies(Springer Science and Business Media B.V., 2024) Gyamfi, Bright A.; Agozie, Divine Q.; Ali, Ernest B.; Bekun, Festus V.; Asongu, Simplice A.As the environmental sustainability effectiveness of various political systems is taken into consideration, it is doubtful as to whether the presumption of the overall efficiency of democracy can be sustained in global governance architecture. The effectiveness of autocracies and democracies (i.e., governance indicators are compared in the present study) with reference to strengths and weaknesses in environmental objectives. This analysis explores the effect of autocracy, democracy, as well as the trend of globalization on CO2 emissions for open and closed economies from 1990 to 2020. Crucial indicators such as economic growth, renewable energy and non-renewable energy are controlled for while examining the roles of economic expansion on the disaggregated energy consumption portfolios for both open and closed economies. The empirical analysis revealed some insightful results. First, for the open economies, with the exception of non-renewable energy which shows a positive significant impact on emissions, all variables show a negative effect on emissions. Furthermore, the closed economies result indicate that, apart from renewable energy which has a negative relationship with emissions, all the variables including the interaction terms have a positive relation with emissions. However, an inverted U-shaped environmental Kuznets curve hypothesis was validated for both economies. © The Author(s) 2024.Öğe Can information and communication technology and institutional quality help mitigate climate change in E7 economies? An environmental Kuznets curve extension(Springer Science and Business Media Deutschland GmbH, 2022) Gyamfi, Bright Akwasi; Ampomah, Asiedu B.; Bekun, Festus V.; Asongu, Simplice A.Understanding the role of information communication and technology (ICT) in environmental issues stemming from extensive energy consumption and carbon dioxide emission in the process of economic development is worthwhile both from policy and scholarly fronts. Motivated on this premise, the study contributes to the rising studies associated with the roles of economic growth, institutional quality and information and communication technology (ICT) have on CO2 emission in the framework of the 21st Conference of the Parties (COP21) on climate convention in Paris. Obtaining data from the emerging industrialized seven (E7) economies (China, India, Indonesia, Russia, Mexico, Brazil and Turkey) covering annual frequency from 1995 to 2016 for our analysis achieved significant outcome. From the empirical analysis, economic globalization and renewable energy consumption both reduce CO2 emissions while ICT, institutional quality and fossil fuel contribute to the degradation of the environment. This study affirms the presence of an environmental Kuznets curve (EKC) phenomenon which shows an invented U-shaped curve within the E7 economies. On the causality front, both income and its square have a feedback causal relationship with carbon emissions while economic globalization, institutional quality, ICT and clean energy all have a one-way directional causal relationship with CO2 emissions. Conclusively, the need to reduce environmental degradation activities should be pursued by the blocs such as tree planting activities to mitigate the effect of deforestation. Furthermore, the bloc should shift from the use of fossil-fuel and leverage on ICT to enhance the use of clean energy which is environmentally friendly. © 2022, The Author(s).Öğe On the nexus between real income, renewable energy consumption, and environmental sustainability on life expectancy for BRICS-T countries: Accessing evidence from quantile regression(Wiley, 2023) Dam, Mehmet M.; Kaya, Funda; Bekun, Festus V.This study is aimed at establishing the impact of real income, renewable energy consumption, and carbon dioxide (CO2) emission on life expectancy for annual frequency data from 1990 to 2019 for BRICS-T (Brazil, Russia, India, China, South Africa, and Turkiye) economies. In addition, the effects of real income, renewable energy consumption, and life expectancy on CO2 emissions are given by establishing a second model. To this end, different econometric approaches such as fixed effects model, random effects model, panel quantile regression, and the Dumitrescu and Hurlin panel causality test were used. We found in our empirical evidence that renewable energy consumption and real income positively affect life expectancy. At the same time, it was seen that real income has a positive effect on CO2 emissions, but renewable energy consumption has a negative effect. According to the panel quantile regression analysis results, while the effect of income on life expectancy is similar to other estimation results, that of renewable energy consumption is different. However, the effect of renewable energy consumption and real income on CO2 emissions is similar to other estimation results. The findings of the study show that policy makers need to promote renewable energy in order to extend life expectancy which is an important determinant of economic growth.Öğe Prospect of trade and innovation in renewable energy deployment: A comparative analysis between BRICS and MINT Countries(Pergamon-Elsevier Science Ltd, 2024) Ofori, Elvis K.; Bekun, Festus V.; Gyamfi, Bright Akwasi; Ali, Ernest B.; Onifade, Stephen T.; Asongu, Simplice A.The current study explores the impact of technological innovation and trade openness on clean energy while accounting for economic growth, access to electricity, pollution, industrial restructuring, and urbanization using data from 1990 to 2020 for both the MINT and BRICS economies. A series of tests were performed for a robust analysis using second generation econometrics approaches before proceeding to investigate the long-run linkages between renewable energy and the duo of innovation and trade using the Prais-Winsten regression model with panel-corrected standard errors (PCSE). The Driscoll-Kraay standard errors test was applied for robustness checks. The results, firstly confirm the presence of heterogeneity, cross-sectional dependence, and cointegration among the selected variables. Secondly, technological innovation as a renewable energy determinant demonstrated negative elasticities in both BRICS countries and the full sample, but a positive elasticity in the MINT countries. Thirdly, concerning trade liberalisation, negative elasticities were obtained for the full sample and MINT countries, while the elasticities were positive for the BRICS bloc. Fourthly, the roles of economic growth and environmental pollution reveal a negative impact on renewable energy consumption for all samples while urbanisation and industrial restructuring promote renewable energy developments only in the BRICS bloc. Policy implications are discussed.