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Öğe Domestic material consumption and greenhouse gas emissions in the EU-28 countries: Implications for environmental sustainability targets(WILEY, 111 RIVER ST, HOBOKEN 07030-5774, NJ, 2021) Alola, Andrew Adewale; Akadiri, Seyi Saint; Usman, OjonugwaIn spite of the achievements of the European Union (EU) member countries with respect to the sustainable development goals (SDGs) 2030 targets, the member countries have reportedly under-performed in a specific drive towards the SDG 12 (Sustainable Consumption and Production [SCP]). In advancing evidence to this insight, the current study examines the role of domestic material consumption, income and renewable energy utilisation in the panel of the EU-28 environmental sustainability targets. In specific, we find that domestic material consumption worsens the bloc's environmental quality in both the immediate and long term. Although an increase in per capita income level aids environmental sustainability in the long term, the short-run effect shows that per capita income growth triggers greenhouse gas emissions. The study further reveals that while cleaner energy development (renewables) improves the countries' environmental sustainability in both the short and long run, the level of real income is yet detrimental to environmental quality. Moreover, consumption of domestic materials, the share of renewable energy utilisation and real income contribute to greenhouse gas emissions in countries like Czech Republic, Lithuania and Malta. Thus, this study suggests country-specific policies that primarily target domestic consumption and cleaner energy development to achieve environmental sustainability targets among the EU member states.Öğe Effects of domestic material consumption, renewable energy, and financial development on environmental sustainability in the EU-28: Evidence from a GMM panel-VAR(PERGAMON-ELSEVIER SCIENCE LTD, THE BOULEVARD, LANGFORD LANE, KIDLINGTON, OXFORD OX5 1GB, ENGLAND, 2022) Usman, Ojonugwa; Alola, Andrew Adewale; Akadiri, Seyi SaintDespite the high commitments of the European Union (EU) member countries toward achieving the sustainable development goals (SDGs), on average, the region has reportedly under performed in the area of ensuring sustainable production and consumption. This paper uses the Generalized Method of Moments (GMM) estimation of panel vector autoregressive (PVAR) with impulse response functions (IMFs) to assess the effects of domestic material consumption, renewable energy, financial development, and greenhouse gas emissions on environmental quality in the EU-28 countries based on the panel data for the period 2000:Q1e2017:Q4. The empirical results reveal that the shocks to domestic material consumption, renewable energy, economic growth, financial development, and greenhouse gas emissions affect the drives towards a sustainable environment. Particularly, the shocks to renewable energy and financial development improve environmental quality, while the shocks to domestic material consumption and greenhouse gas emission deteriorate environment quality. The shock to economic growth improves environmental quality up to the 4th horizon after which it begins to deteriorate environment quality. Furthermore, the panel causality results indicate bidirectional causality between greenhouse gas emissions and the rest of the variables except renewable energy, which is unidirectional. The causality between economic growth and renewable energy, economic growth and financial development, and financial development and renewable energy has a feedback effect while a unidirectional causality flows from economic growth to domestic material consumption. These findings have implications for sustainable production and consumption.Öğe Energy mix outlook and the EKC hypothesis in BRICS countries: a perspective of economic freedom vs. economic growth(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2021) Akadiri, Seyi Saint; Alola, Andrew Adewale; Usman, OjonugwaThis study attempts to unveil an additional dimension to economic freedom within the framework of the environmental Kuznet curve (EKC) hypothesis using the panel data for BRICS (Brazil, Russia, India, China, and South Africa) economies over the period 1995–2018. Firstly, the study found that the EKC hypothesis is valid only in the long run for the panel countries. Secondly, we found that economic freedom mimics the pattern of economic output. Thus, when economic freedom is employed in lieu of economic growth, the EKC hypothesis is also validated only in the long run. Importantly, when both economic freedom and output are employed alongside, they produce the same carbon mitigation effect in each of the short-run and long-run periods. Thirdly, the country-specific evidence of the role of economic freedom and output in environmental quality is not less of a Ushaped relationship in the short run. Lastly, the impact of the bloc’s energy mix (coal, natural gas, and oil energy utilization) on environmental quality is undesirable in both the short and long run; only in South Africa natural gas has the potential to mitigate carbon emissions. Overall, the study offers relevant policy measures for attaining Sustainable Development Goals (SDGs) target to combat climate change and its impacts.Öğe Modeling tourism and fear nexus in G4 countries(ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD, 2-4 PARK SQUARE, MILTON PARK, ABINGDON OX14 4RN, OXON, ENGLAND, 2021) Alola, Andrew Adewale; Uzuner, Gizem; Akadiri, Seyi SaintIn this paper, we examine whether there is a causal relationship between migration-related fear and tourism. To achieve the objective, a lagaugmented vector autoregressive (LA-VAR) model that generates country-specific causality test results is employed. The period covered extends from 1995Q1 to 2016Q4. To control for omitted variable bias, we include real gross domestic product per capita as an additional variable. Empirical results provide evidence of one-way causality running from migration-related fear to tourism, and neutrality hypothesis is confirmed in the relationship between migration-related fear and economic growth, and between tourism and economic growth. Although the study confirms the fear-induced tourism hypothesis, it however further submits that other determinants such as exchange rates and real gross domestic product are much more important than fear in determining the number of arrivals at a destination.Öğe Natural gas consumption-economic output and environmental sustainability target in China: an N-shaped hypothesis inference(SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY, 2021) Etokakpan, Mfonobong Udom; Akadiri, Seyi Saint; Alola, Andrew AdewaleOn one divide, energy types have been linked with the varying degree of environmental damage. Another perspective argued on the severity of the damaged base on per capita and/or population consumption pattern. As such, this study investigates the nexus of per capita natural gas consumption-carbon dioxide emissions and per capita income-carbon dioxide emissions in the case of the People of the Republic of China. This study objectively expanded to illustrate whether the N-shaped environmental Kuznets curve hypothesis holds in the case of China or not. The employed autoregressive distributed lag bound testing approach incorporated additional explanatory variables (urbanization) within the N-shaped EKC hypothesis over the period 1971–2018. Importantly, the results show an evidence of inverted N-shaped EKC relationship. In addition, the study posits a positive relationship between natural gas consumption and carbon dioxide emissions and between urbanization and carbon dioxide emissions. Thus, the study proposes renewable energy development and decongestion of the urban centers as a means of controlling global warming.Öğe Trilemma of pandemic‑related health emergency, economic policy uncertainty and partisan confict in the United States: A time‑varying analysis evidence(SPRINGERNATURE, CAMPUS, 4 CRINAN ST, LONDON, N1 9XW, ENGLAND, 2022) Akadiri, Seyi Saint; Alola, Andrew Adewale; Ajmi, Ahdi NoomenThe events in the year 2020, especially the ravaging coronavirus (COVID19) pandemic has further exposed the vulnerability and connectedness associated with human health and the global economy. In the United States, amid the COVID-19 pandemic, the recent political polarization, especially the sharp divide between the Republican and Democrat party has further demonstrated the heightened partisan confict in the country. From this basis, the current study examines the time-varying Granger causality between pandemic-related health emergency, partisan confict, and economic policy uncertainty (EPU) in the United States over period January 1996 to June 2020. While there is an evidence of common time-varying Granger causality between August 2005 and September 2006 from pandemic-related health emergency to partisan, the evidence of Granger causality from partisan confict to pandemic is common in the period of January to May 2009. In addition, the Granger causality between partisan confict and EPU is obviously common between February and May 2020. As a policy concern, we are of the opinion that mechanism toward difusing the heightened political divide in the United States is essential and be pursued for the country’s economic and health sector challenges.