• Energy Research

This research aims to look into the effect of COVID-19 on emerging stock markets in seven of the Association of Southeast Asian Nations' (ASEAN-7) member countries from March 21, 2020 to April 31, 2020. This paper uses a ST-HAR-type Bayesian posterior model and it highlights the stock market of this ongoing crisis, such as, COVID-19 outbreak in all countries and related industries. The empirical results shown a clear evidence of a transition during COVID-19 crisis regime, also crisis intensity and timing differences. The most negatively impacted industries were health care and consumer services due to the Covid-19 drug-race and international travel restrictions. More so, study results estimated that only a small number of sectors are affected by COVID-19 fear including health care, consumer services, utilities, and technology, significance at the 1%, 5%, and 10%, that measure current volatility's reliance on weekly and monthly variables. Secondly, it is found that there is almost no chance that the COVID-19 pandemic would positively affect the stock market performance in all the countries, mainly Indonesia and Singapore were the countries most affected. Thirdly, results shown that Thailand's stock market output has dropped by 15%. Results shows that COVID-19 fear causes an eventual reason of public attention towards stock market volatility. The study presented comprehensive way forwards to stabilize movement of ASEAN equity market's volatility index and guided the policy implications to key stakeholders that can better help to mitigate drastic impacts of COVID-19 fear on the performance of equity markets.

Recently, there has been a high level of energy demand worldwide, which has piqued regulators and researchers’ interest in producing efficient energy. Therefore, this research investigates the impact of multiple energy demands on China's energy efficiency (renewable energy production). The researchers use secondary data extracted from World Development Indicators for the period 1986 to 2019. They use time series analysis techniques, such as the ADF test for stationarity, the ARDL model to evaluate the association between the variables, and the Granger causality test to evaluate the directional nexus amongst the variables. The findings show that multiple energy demands have a positive association with energy efficiency in China. Several implications and recommendations are made by the study to facilitate future research and regulation.

This study examines the correlation between oil price fluctuation and absolute business development in Pakistan. Our study focusses on three economic sectors, agriculture and livestock, manufacturing and electricity production and transportation from 1980 to 2018 using the autoregressive distributed lag, with linear regression to evaluate the (time series or panel) data (please elaborate the frequency of data as well either it is daily, weekly, monthly, quarterly or yearly data). Our findings reveal negative impact of oil price on the economic development overall, and manufacturing, electricity production and livestock sectors individually; while, there is positive relationship observed with communication and transport sectors. There is need for policymaker’s attention on highly oil-dependent sectors to run their operations. Empirical findings suggest a 30% shortage of oil supply responsible for the highest fluctuated structure of oil pricing, which suddenly increases the projected welfare loss through a 40% reduction in gross domestic product. This study suggests that the country should maintain a minimum 100-day strategic petroleum reserves to hedge any adverse effect of oil price fluctuation on economic and social welfare losses.

There is a shred of evidence of environmental degradation in the form of carbon emissions to behave differently when tested with different macroeconomic variables. This paper aims to examine the long-run and short-run association between natural resource rent, financial development, and urbanization on carbon emission from the context of the USA during 1995-2015 with the help of a contemporary and innovative approach named quantile autoregressive distributed lagged model (QARDL). The stated approach is applied due to the fact that non-linearity is observed for the study variables. The findings indicated that the higher financial development (0.304), natural resource rent (0.102), and urbanization (0.489) have a positive impact on the environmental degradation in the region of USA during long-run estimation in the stated quantiles of the study. This would indicate that higher financial development, urbanization, and natural resources are putting more environmental pressure on the economy of the USA. Similarly, the findings under short-run estimation confirm that past and lagged values of carbon emission, financial development, natural resource rent, and urbanization are significantly determining the current values of the carbon emission. For this reason, it is suggested that the government requires some immediate steps of the USA to control the harmful effect of such financial development, more urbanization, and higher natural resource rent as well. This would indicate the reflection of some green strategies in all three explanatory variables to generate some fruitful environmental outcomes.

Le lien entre la croissance économique (GE) et les émissions de carbone a été examiné de manière approfondie, en particulier dans le CO2 basé sur la consommation. Cependant, le rôle du capital humain, de l'énergie verte et de la croissance économique durable dans la détermination des émissions de carbone n'a pas encore été exploré spécifiquement pour les économies émergentes. Cette étude visait à examiner l'impact de l'indice de capital humain, de l'énergie verte, de l'EG en termes de PIB et du carré du PIB sur les émissions de carbone à long et à court terme avec l'aide de CS-ARDL. Les données pour les variables de l'étude ont été collectées de 1995 à 2018. Les résultats de l'étude ont confirmé qu'il existe une CSD, une co-intégration et une hétérogénéité des pentes entre les variables de l'étude. En revanche, la production via CS-ARDL a indiqué que la principale raison de l'augmentation des émissions de carbone dans les économies ciblées est la croissance économique selon une estimation à long terme et à court terme. En outre, le rôle de l'indice de l'énergie verte et du capital humain est également constructif dans la réduction de la dégradation de l'environnement pour les estimations à long et à court terme. Enfin, certaines implications politiques sont également convainquées à la fin de la recherche. El nexo entre el crecimiento económico (GE) y las emisiones de carbono se ha examinado exhaustivamente, específicamente en el CO2 basado en el consumo. Sin embargo, el papel del capital humano, la energía verde y el crecimiento económico sostenible en la determinación de las emisiones de carbono aún no se ha explorado específicamente en las economías emergentes. Este estudio tuvo como objetivo examinar el impacto del índice de capital humano, la energía verde, el EG en términos de PIB y el cuadrado del PIB en las emisiones de carbono a largo y corto plazo con la ayuda de CS-ARDL. Los datos para las variables del estudio se recopilaron de 1995 a 2018. Los hallazgos del estudio confirmaron que existe CSD, cointegración y heterogeneidad de pendiente entre las variables del estudio. Por el contrario, la producción a través de CS-ARDL indicó que la razón principal para una mayor emisión de carbono en las economías objetivo es el crecimiento económico según la estimación a largo y corto plazo. Además, el papel de la energía verde y el índice de capital humano también es constructivo para reducir la degradación ambiental tanto para la estimación a largo como a corto plazo. Finalmente, algunas implicaciones políticas también se reúnen al final de la investigación. The nexus between economic growth (EG) and carbon emission has been examined extensively, specifically in consumption-based CO2. However, the role of human capital, green energy, and sustainable economic growth in determining the carbon emission is yet to be explored specifically from emerging economies. This study aimed to examine the impact of human capital index, green energy, EG in terms of GDP, and square of GDP on carbon emission for long-short run with the help of CS-ARDL. The data for study variables was collected from 1995 to 2018. The study findings confirmed that there exists CSD, cointegration, and slope heterogeneity among the study variables. In contrast, the output through CS-ARDL indicated that the main reason for higher carbon emission in the targeted economies are economic growth under long-short run estimation. Additionally, the role of green energy and human capital index is also constructive in lowering the environmental degradation for both long-run and short-run estimation. Finally, some policy implications are also convassed at the end of the research. تم فحص العلاقة بين النمو الاقتصادي (EG) وانبعاثات الكربون على نطاق واسع، وتحديداً في ثاني أكسيد الكربون القائم على الاستهلاك. ومع ذلك، لم يتم بعد استكشاف دور رأس المال البشري والطاقة الخضراء والنمو الاقتصادي المستدام في تحديد انبعاثات الكربون على وجه التحديد من الاقتصادات الناشئة. تهدف هذه الدراسة إلى دراسة تأثير مؤشر رأس المال البشري، والطاقة الخضراء، و EG من حيث الناتج المحلي الإجمالي، ومربع الناتج المحلي الإجمالي على انبعاثات الكربون على المدى الطويل بمساعدة CS - ARDL. تم جمع بيانات متغيرات الدراسة من عام 1995 إلى عام 2018. أكدت نتائج الدراسة أن هناك اختلاط وتكامل مشترك وعدم تجانس منحدر بين متغيرات الدراسة. وعلى النقيض من ذلك، أشار الناتج من خلال CS - ARDL إلى أن السبب الرئيسي لارتفاع انبعاثات الكربون في الاقتصادات المستهدفة هو النمو الاقتصادي في ظل التقديرات طويلة الأجل. بالإضافة إلى ذلك، فإن دور الطاقة الخضراء ومؤشر رأس المال البشري بناء أيضًا في تقليل التدهور البيئي لكل من التقديرات طويلة الأجل وقصيرة الأجل. أخيرًا، يتم أيضًا استيعاب بعض الآثار المترتبة على السياسة في نهاية البحث.