• Energy Research

Abstract As the negative repercussions of environmental devastation, such as global warming and climate change, become more apparent, environmental consciousness is growing across the world, forcing nations to take steps to mitigate the damage. Thus, the current study assesses the effect of green investments, institutional quality, and political stability on air quality in the G-20 countries for the period 2004–2020. The stationarity of the variables was examined with the Pesaran (2007) CADF, the long-term relationship between the variables by Westerlund (2007), the long-run relationship coefficients with the MMQR method proposed by Machado & Silva (2019), and the causality relationship between the variables by Dumitrescu & Hurlin (2012) panel causality. The study findings revealed that green finance investments, institutional quality and political stability increased the air quality, while total output and energy consumption decreased air quality. The panel causality reveals a unidirectional causality from green finance investments, total output, energy consumption and political stability to air quality, and a bidirectional causality between institutional quality and air quality. According to these findings, it has been found that in the long term, green finance investments, total output, energy consumption, political stability, and institutional quality affect air quality. Based on these results, policies implications were proposed.

ABSTRACTThis paper aims to investigate the relationship among green environmental technologies, resource efficiency, population density and ecological footprint in 38 OECD member countries between 2000 and 2019. The Method of Moments Quantile Regression (MMQREG) and Augmented Mean Group (AMG) estimators are used to analyse this relationship. Based on the results, strong evidence of a negative relationship between green environmental technologies, resource efficiency, population density and ecological footprint emerges, suggesting that these factors contribute to environmental improvement in OECD economies. Overall, the findings contribute to a deeper understanding of the complex dynamics among these variables and provide valuable insights for policymakers and stakeholders striving for sustainable environmental management and policy formulation. In this context, countries should develop standard guidelines and best practices on green technologies and resource efficiency, making it easier for sectors to adapt in these areas.

The main objective of this study is to examine the impact of green investment on environmental degradation in developing countries using machine learning-based estimation combined with robustness tests of static and dynamic panel data modeling techniques. The scope of this study covers 30 developing countries for 2009–2019. This study introduces a new index of environmental degradation that uses the entropy method and includes green gas emissions and deforestation. The study addresses trade openness, the quadratic shape of economic growth, and urbanization in the context of the Environmental Kuznets Curve Hypothesis (EKC) and the Ecological Modernization Theory (EMT), in addition to green investment. This study considers the kernel-based regularized least squares (KRLS) approach, the static panel technique Driscoll & Kraay standards error method, and a dynamic panel technique system generalized moment techniques. The empirical findings from the machine learning method show that green investment significantly reduces environmental degradation with a higher coefficient resulting from the static fixed effect estimation. The study also reveals that the main hypotheses, such as EKC and EMT, are confirmed by all estimation techniques. Based on the results, the study recommends that policymakers take pragmatic steps toward green investments and increase the financing of green energy initiatives to combat environmental degradation. © 2024 International Association for Gondwana Research

With the increase in awareness of environmental issues, companies and governments try to review their environmental policies. One of the most important policies for protecting the environment is the use of energy sources, which cause less or no harm to the environment. In this study, we examine the effect of institutional quality and the components of this institutional quality on green investments for G-20 countries. For this purpose, we employ static panel data analysis, as a main analysis, and dynamic panel data analysis as a robustness check. According to the main findings, institutional quality positively affects green investments and military spending reduces green investments. Also, robustness checks indicate that the effect of institutional quality and military expenditure of G20 countries on green investments is robust.

Alors que les répercussions négatives de la dévastation environnementale, telles que le réchauffement climatique et le changement climatique, deviennent de plus en plus évidentes, la conscience environnementale se développe dans le monde entier, obligeant les nations à prendre des mesures pour atténuer les dommages. Ainsi, la présente étude évalue l'effet des investissements verts, de la qualité institutionnelle et de la stabilité politique sur la qualité de l'air dans les pays du G20 pour la période 2004-2020. La stationnarité des variables a été examinée avec le CADF Pesaran (J Appl Econ 22: 265-312, 2007), la relation à long terme entre les variables par Westerlund (Oxf Bull Econ Stat 69(6) : 709-748, 2007), les coefficients de relation à long terme avec la méthode MMQR proposée par Machado et Silva (Econ 213(1) : 145-173, 2019), et la relation de causalité entre les variables par Dumitrescu et Hurlin (Econ Model 29(4) :1450-1460, 2012). Les résultats de l'étude ont révélé que les investissements dans la finance verte, la qualité institutionnelle et la stabilité politique augmentaient la qualité de l'air, tandis que la production totale et la consommation d'énergie diminuaient la qualité de l'air. La causalité du panel révèle une causalité unidirectionnelle des investissements dans la finance verte, de la production totale, de la consommation d'énergie et de la stabilité politique à la qualité de l'air, et une causalité bidirectionnelle entre la qualité institutionnelle et la qualité de l'air. Selon ces résultats, il a été constaté qu'à long terme, les investissements dans la finance verte, la production totale, la consommation d'énergie, la stabilité politique et la qualité des institutions affectent la qualité de l'air. Sur la base de ces résultats, des implications politiques ont été proposées. A medida que las repercusiones negativas de la devastación ambiental, como el calentamiento global y el cambio climático, se hacen más evidentes, la conciencia ambiental está creciendo en todo el mundo, lo que obliga a las naciones a tomar medidas para mitigar el daño. Por lo tanto, el presente estudio evalúa el efecto de las inversiones verdes, la calidad institucional y la estabilidad política en la calidad del aire en los países del G-20 para el período 2004-2020. La estacionariedad de las variables se examinó con el CADF Pesaran (J Appl Econ 22: 265-312, 2007), la relación a largo plazo entre las variables por Westerlund (Oxf Bull Econ Stat 69(6): 709-748, 2007), los coeficientes de relación a largo plazo con el método MMQR propuesto por Machado y Silva (Econ 213(1):145-173, 2019), y la relación de causalidad entre las variables por Dumitrescu y Hurlin (Econ Model 29(4):1450-1460, 2012) causalidad del panel. Los hallazgos del estudio revelaron que las inversiones en finanzas verdes, la calidad institucional y la estabilidad política aumentaron la calidad del aire, mientras que la producción total y el consumo de energía disminuyeron la calidad del aire. La causalidad del panel revela una causalidad unidireccional desde las inversiones en finanzas verdes, la producción total, el consumo de energía y la estabilidad política hasta la calidad del aire, y una causalidad bidireccional entre la calidad institucional y la calidad del aire. De acuerdo con estos hallazgos, se ha encontrado que a largo plazo, las inversiones en finanzas verdes, la producción total, el consumo de energía, la estabilidad política y la calidad institucional afectan la calidad del aire. Con base en estos resultados, se propusieron implicaciones políticas. As the negative repercussions of environmental devastation, such as global warming and climate change, become more apparent, environmental consciousness is growing across the world, forcing nations to take steps to mitigate the damage. Thus, the current study assesses the effect of green investments, institutional quality, and political stability on air quality in the G-20 countries for the period 2004-2020. The stationarity of the variables was examined with the Pesaran (J Appl Econ 22:265-312, 2007) CADF, the long-term relationship between the variables by Westerlund (Oxf Bull Econ Stat 69(6):709-748, 2007), the long-run relationship coefficients with the MMQR method proposed by Machado and Silva (Econ 213(1):145-173, 2019), and the causality relationship between the variables by Dumitrescu and Hurlin (Econ Model 29(4):1450-1460, 2012) panel causality. The study findings revealed that green finance investments, institutional quality and political stability increased the air quality, while total output and energy consumption decreased air quality. The panel causality reveals a unidirectional causality from green finance investments, total output, energy consumption and political stability to air quality, and a bidirectional causality between institutional quality and air quality. According to these findings, it has been found that in the long term, green finance investments, total output, energy consumption, political stability, and institutional quality affect air quality. Based on these results, policies implications were proposed. نظرًا لأن التداعيات السلبية للدمار البيئي، مثل الاحترار العالمي وتغير المناخ، أصبحت أكثر وضوحًا، فإن الوعي البيئي ينمو في جميع أنحاء العالم، مما يجبر الدول على اتخاذ خطوات للتخفيف من الضرر. وبالتالي، تقيّم الدراسة الحالية تأثير الاستثمارات الخضراء والجودة المؤسسية والاستقرار السياسي على جودة الهواء في دول مجموعة العشرين للفترة 2004-2020. تم فحص ثبات المتغيرات مع Pesaran (J Appl Econ 22: 265-312، 2007) CADF، والعلاقة طويلة الأجل بين المتغيرات بواسطة Westerlund (Oxf Bull Econ Stat 69(6): 709-748، 2007)، ومعاملات العلاقة طويلة المدى مع طريقة MMQR التي اقترحها Machado و Silva (Econ 213(1): 145-173، 2019)، والعلاقة السببية بين المتغيرات بواسطة Dumitrescu و Hurlin (Econ Model 29(4): 1450-1460، 2012) لوحة السببية. وكشفت نتائج الدراسة أن استثمارات التمويل الأخضر والجودة المؤسسية والاستقرار السياسي زادت من جودة الهواء، في حين أدى إجمالي الإنتاج واستهلاك الطاقة إلى انخفاض جودة الهواء. تكشف العلاقة السببية للفريق عن علاقة سببية أحادية الاتجاه من استثمارات التمويل الأخضر، وإجمالي الإنتاج، واستهلاك الطاقة والاستقرار السياسي إلى جودة الهواء، والعلاقة السببية ثنائية الاتجاه بين الجودة المؤسسية وجودة الهواء. وفقًا لهذه النتائج، فقد تبين أنه على المدى الطويل، تؤثر استثمارات التمويل الأخضر، والإنتاج الإجمالي، واستهلاك الطاقة، والاستقرار السياسي، والجودة المؤسسية على جودة الهواء. وبناءً على هذه النتائج، تم اقتراح الآثار المترتبة على السياسات.

Abstract A large part of the energy supply required for production in the world consists of non-renewable energy sources such as coal, oil, and natural gas. Due to the serious increases in these energy sources in the world, countries facing the threat of climate change and increasing global warming have had to direct their energy policies to reduce carbon emissions. In this respect, promoting and increasing renewable energy, known as clean, green energy, and environmentally friendly, is an important factor in reducing carbon emissions in nature. In this context, in this study, the effect of green investment on air quality for two country groups was examined. As a result of the analysis, it was determined that the results differed both for the country groups and for the short and long term.

Enerji, ekonominin vazgeçilmezidir ve ekonomik büyüme için önemlidir. İnsanoğlunun hayatta kalması ve ekonomik büyümesi için enerji temel bir gereksinimdir ve enerji modern toplumların temelini oluşturmaktadır. Ekonomik gelişimin can damarı ve sırt kemiğidir. Ticaretin artırılmasında ve büyüme düzeyinin yükseltilmesinde önemli rol oynamaktadır. Literatüre göre büyüme düzeyini artırır. Ekonomik literatürde; ekonomik büyüme, ticaret, enerji ve finansal gelişmeyi içeren dinamik ilişkiler dikkat çekmektedir. Bu bağlamada çalışmanın amacı; E-7 ülkelerinde (Brezilya, Çin, Hindistan, Endonezya, Meksika, Rusya ve Türkiye) finansal gelişme, enerji tüketimi ve ekonomik büyüme arasında saklı bir ilişkinin varlığının 2003-2016 dönemi için incelenmesidir. Bu amaçla Hatemi- J (2011) tarafından geliştirilen saklı eş-bütünleşme analizi ve Hatemi- j (2012) Asimetrik nedensellik analizleri kullanılmıştır. Analiz sonuçlarına göre negatif bileşenler arasında saklı bir eş-bütünleşme ilişkisi tespit edilmiştir. Diğer yandan ekonomik büyüme ve finansal gelişmeden enerji tüketimine doğru tek yönlü bir nedensellik tespit edilmiştir.