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Abstract This study investigates the macroeconomic effects of adverse oil price shocks on a small oil-exporting economy — the Azerbaijan economy. We estimate a recursive (near) VAR model by using monthly macroeconomic data from 2006 to 2018. The results indicate the Azerbaijan economy is adversely influenced by an oil price decline. Specifically, we find that a negative oil price shock deteriorates trade balance, causes a currency depreciation, increases inflation and falls economic activity. Furthermore, our findings imply that the oil price-led devaluation shapes the inflationary and recessionary consequences of this shock.

Purpose This study aims to consider environmental sustainability, a global challenge under the preview of sustainable development goals, highlighting the significance of knowledge economy in attaining sustainable aggregate demand behavior globally. For this purpose, 155 countries that have data available from 1995 to 2021 were selected. The purpose of selecting these countries is to test the global responsibility of the knowledge economy to attain environmental sustainability. Design/methodology/approach Results are estimated with the help of panel quantile regression. The empirical existence of aggregate demand-based environmental Kuznets curve (EKC) was tested using non-linear tests. Moreover, principal component analysis has been incorporated to construct the knowledge economy index. Findings U-shaped aggregate demand-based EKC at global level is validated. However, environmental deterioration increases with an additional escalation after US$497.945m in aggregate demand. As a determinant, the knowledge economy is reducing CO2 emissions. The knowledge economy has played a significant role in global responsibility, shifting the EKC downward and extending the CO2 reduction phase for every selected country. Further, urbanization, energy intensity, financial development and trade openness significantly deteriorate the environmental quality. Originality/value This study contains the empirical existence of aggregate demand-based EKC. The role of the knowledge economy is examined through an index which is calculated by using four pillars of the knowledge economy (technology, innovations, education and institutions). This study is based on a combined panel of all the countries for which the data was available.

AbstractRemittances to the Philippines constitute a prominent part of its economy. However, remittances' effects on its environment have not been researched. In this regard, this research examines the direct and indirect impacts of remittance inflows on the Philippines' environmental sustainability for the 1977–2016 period by proposing a multivariate model, and by utilising the augmented ARDL and VECM methods to estimate this model. Our findings indicate that remittance inflows threaten environmental sustainability in the long‐run both directly and indirectly through boosting income and energy (oil) consumption. The results additionally imply that income and energy consumption also increase the ecological footprint of the Philippines in the long‐run. However, economic globalisation's long‐run impact is insignificant, yet its short‐run impact is significantly negative on the country's level of environmental degradation. Additionally, the findings reveal that the feedback hypothesis is valid between income and energy consumption in the long‐run, but the neutrality hypothesis is valid in the short‐run. This research's findings reveal that remittance inflows' impact on the environment is significant, and can occur through direct and various indirect channels, therefore, these inflows should be an integral part of sustainability policies in the Philippines, as ignoring them could cause further environmental decline.

We researched China's climate and sustainable development goal with relevant and susceptible instruments capable of inducing and mitigating carbon emissions. Amidst the contributor to the global carbon emissions, China is caught in between mitigating its carbon emission and aiming towards placing its national contribution of emissions to the acceptable levels of 1.5 °C and below 2 °C. Following the intricacies surrounding China's sustainable development as it contains its economic and environmental performance, we adopt China's data of 1980 and 2018 with different scientific approaches (nonlinear autoregressive distributed lag (NARDL), dynamic ordinary least square test, and bootstrap Granger causality) with different instruments (such as economic growth, financial development, renewable energy, and innovation policies) to research China's sustainable development. For clear exposition and insight into our findings with policies attached, we draw a conclusion from the outcomes of the mentioned approaches. From NARDL and dynamic ordinary least squares (DOLS), we find that economic growth through economic activities is statistically significant in determining the trend (increase) of carbon emissions in China in both periods (short run and long run). However, other selected instruments (financial, renewable, and innovation policies) tend towards controlling and moderating the carbon emissions in China. Thus, China has good prospects to mitigate its carbon emissions if considered tailoring its policies towards favorable instruments. From bootstrap Granger causality, we find similar inferential results that support previous findings thereby confirming the positive implication of the selected instruments to China's sustainable development. Hence, the nexus that is established among the selected instruments clearly show the importance of technological innovation and renewable energy in mitigating carbon emissions.

Sustainable development is one of the issues that many developed and developing countries focus on in the world. The sustainability of human and natural resources is of great importance for securing the world and humanity's common future. In this context, this study aims to evaluate the socio-economic structure of Erzurum with analytical hierarchy process (AHP) and digitized strengths, weaknesses, opportunities and threats analysis considering sustainable development goals (SDGs). The items included in the Agenda 21 report of the United Nations and 17 SDGs determined by the United Nations were taken into consideration in this endeavour. In line with expert opinions, the strengths, weaknesses, opportunities and threats created by the sustainable development goals for Erzurum province were analysed statistically with the AHP. Priority and weighted values of each sub-criterion were calculated. According to this analysis, "the richness of natural, cultural and historical resources for tourism potential" ranks first among the strengths of the province regarding sustainable development goals. Weaknesses include "insufficient investment and entrepreneurial culture". However, "priority region status for development" criterion stands out as the most important opportunity. Threats include "loss of labour force due to migration from agricultural areas" criterion. After the statistical analysis, the quantitative results of made for the best realization of sustainable development for the area were assessed to specify new goals and strategies. Suggestions were offered to define opportunities and strengths, threats and weaknesses with new-build strategies and to make the plans accordingly.

In Turkey, the population living around forest areas is significantly affected by forestry activities. There are 21 thousand forest villages and 7 million forest villagers living in these forest villages within the 22.9 million ha forest area. In other words, one out of every three people living in rural areas is a forest villager. Daily life activities of forest villagers living together with forest areas can cause pressure on forests. GDoFV by various development projects to reduce the impacts of pressures on forest areas of forest villagers have been implemented. This improvement loans are two groups, including for economic and social purposes. GDoFV only makes cost-benefit analysis for social projects. Does not apply any other economic analysis. Water Heating with Solar Energy Systems (Solar Power Plant) project is a project implemented by GDoFV social purposes. The aim of the SPP projects is to reduce the firewood consumption of the forest villagers. This case study aimed to evaluate the economic analysis of SSP projects implemented to reduce the forest villager's consumption of firewood. In the forest villages of the Western Mediterranean Region, 100 forest villages were sampled from 152 forest villages and 629 forest villagers where SPP application was made.

The aim of this paper is to explore the relationship between energy use, economic growth, and environmental pollution in Turkey for the period from 1968 to 2016 by using ARDL bounds test approach. Test findings show that an increase in economic growth and trade openness cause environmental degradation in all models. Although the energy consumption coefficient is positive in all models, it is statistically significant only in the model where the ecological footprint indicator is the dependent variable. Thus, while determining a positive relationship between environmental pollution and economic growth in Turkey, also it can be said that the energy consumption increases ecological footprint. The findings indicate that there is a need to consider not only pollution emissions but also the ecological footprint for environmental degradation. These results raise a number of policy recommendations for Turkey. The existence of an inverted-U shaped relationship between environmental degradation and economic growth actually demonstrate the successful long run sustainable growth in Turkey.

Abstract The transportation sector is one of the main contributors to global greenhouse gas (GHG) emissions. As the efforts towards emission mitigation increase, the expectation from the sector arises equally. In this analysis, the transportation sector of Turkey is studied to shed light on the future based on historical realizations. In this respect, the Logarithmic Mean Divisia Index (LMDI) method is used to assess and reveal the influential factors on CO2 emissions in the sector between 2000 and 2017. The emission intensity of the sector and fuel switching shows promising trends from 2000 through 2010, whereas growing preference for SUVs challenges emission reductions between 2010 and 2017. The results indicate that i) The transportation sector CO2 emissions are mainly driven upwards by economic growth, followed by population and emission intensity effects from 2000 to 2017 ii) The overall impact of transportation intensity shows significant reduction potential iii) Fuel switching incentives and fleet efficiency have a positive effect on emission mitigation from 2000 through 2010. However, this gain is reduced due to the rising popularity of SUVs in the rest of the analysis period. In this respect, CO2 emission mitigation in the transportation sector necessitates 1) careful planning of demand management for freight transportation including master designs production/manufacturing sites, material flows, and demand points coupled with economic activities 2) passenger transportation measures to reduce passenger car travel including zoning for public transit corridors, improved public transportation system 3) well-structured incentives on energy-efficient cars and clean energy technologies such as electric vehicles to convince individuals. Analysis can be generalized on a global scale due to the similar dynamics inherent in the sector.

Abstract This paper investigates the impact of urbanization on energy consumption by applying the Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) in case of Malaysia. The study covers the time period of 1970Q1–2011Q4. The unit root test and the ARDL bounds testing approach have been applied to examine integrating properties and long run relationship in the presence of structural breaks. Our results validated the existence of cointegration and exposed that urbanization is a major contributor in energy consumption. Affluence raises energy demand. Capital stock boosts energy consumption. Trade openness leads to affluence and hence increases energy consumption. The causality analysis finds that urbanization Granger causes energy consumption. The feedback effect is found between energy consumption and affluence and, energy consumption and capital. The bidirectional causality exists between trade openness and energy consumption.