Yazar "Shahbaz, Muhammad" seçeneğine göre listele

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    Discerning the role of renewable energy and energy efficiency in finding the path to cleaner consumption and production patterns: New insights from developing economies
    (Elsevier, 2022) Shahbaz, Muhammad; Nwani, Chinazaekpere; Bekun, Festus Victor; Gyamfi, Bright Akwasi; Agozie, Divine Q.
    This study provides empirical evidence on the relationship between energy efficiency and production-and -consumption based carbon emissions by assessing the impact of population size, income, and clean energy on the carbon dioxide (CO2) emissions function. Method of Moments Quantile Regression (MM-QR) and Augmented Mean Group (AMG) estimators are applied to observe long-term associations between the variables, and Dumitrescu-Hurlin (DH) Ganger causality test is used to identify the direction of causality. Findings reveal that, across all specifications, energy intensity and population size have positive (increasing) impact on both estimates of CO2 emissions while renewable energy use has a negatively significant impact and stronger on consumption -based estimates. The presence of an inverted U-shaped curve in the relationship between per capita income and CO2 emissions, as predicted by the Environment Kuznets curve (EKC) hypothesis, only exists when CO2 emissions are calculated based on production pattern. Further empirical analysis based on DH causality tests show a bidirectional causality between energy intensity and production-based CO2 emissions, population size and consumption-based CO2 emissions, per capita income and consumption-based CO2 emissions, and energy in-tensity and renewable energy use. In addition, a unidirectional causality runs from per capita income to production-based CO2 emissions, and from energy intensity and renewable energy use to consumption-based CO2 emissions. This analysis outlines a paradigm for the formulation of a green development strategy in developing economies via energy and environmental resources.
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    Toward the fourth industrial revolution among E7 economies: Assessment of the combined impact of institutional quality, bank funding, and foreign direct investment
    (SAGE Publications Inc., 2022) Shahbaz, Muhammad; Gyamfi, Bright A.; Bekun, Festus Victor; Agozie, Divine Q.
    Background: Technological innovation and its paradigm, that is, the Fourth Industrial Revolution-4IR, have shown strong impact on income levels of adopters across the globe. To this end, this analysis examines the impact of bank funding and institutional quality on technological advancement. Objectives: This study adds additional variables such as high-technology exports and foreign direct investment (FDI) as control variable. Our study period spans from 2000 to 2018 on an annual frequency for E7 economies (Brazil, Indonesia, Mexico, India, Turkey, Russia, and China). Research Design: This study leverages on cross-sectional ARDL, Augmented Mean Group (AMG), and Common Correlated Effects Mean Group Estimates (CCEMG) estimation techniques to examine long-run relationship between the outlined variables. Subjects: Empirical findings show that institution quality, bank finance, income, high-technology exports, and foreign direct investments exert a positive effect on advancements in technology. Furthermore, the interaction between bank finance and institution quality on technological advancement is also positive and statistically significant. Based on the findings, it is concluded that large-scale funding is crucial for businesses to leverage revolutionary technology. Likewise, access to large capital sources if made easier encourages technology affordance as well as innovation and operational excellence. Thus, economies with established legal and financial systems stand to offer businesses such security, which encourages business innovation. Conclusions: Consequently, E7 economies ought to improve their financial and legal systems to boost financial security, creativity, and competitiveness of businesses.