Search

The main objective of this paper is to look at how environmental degradation in the form of climate change and air pollution affect international tourism for five countries such as Brazil, Russia, India, China, and South Africa (BRICS) over the years 1990-2019. Other independent variables include information and communication technology (ICT) and democracy. We also look at the role of environmental regulation to see the validity of porter hypothesis in the tourism sector. To achieve this objective, we apply a novel method of moments quantile regression approach as well as a robust causality technique. The result shows that at lower and medium quantile, CO 2 emission has positive impact on tourism while at higher quantile, CO 2 emission has negative but insignificant effect on tourism in BRICS countries. The result for PM2.5 is uniform across all the quantiles, showing the negative effect on tourism. ICT and human capital positively affect the tourism while democracy has negative impact on the tourism sector of the BRICS nations. The result also validated the Porter hypothesis for tourism sector. We conclude that tourism industry stakeholders and the environmental policymakers must work together to integrate tourism policies with BRICS countries' environmental conservation policies as part of the transition to sustainable tourism industry., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Environmental sustainability concerns are growing worldwide. Many recent studies have focused on key indicators of CO2 emissions, but less consideration has been given to human capital. This study examines the impact of human capital on CO2 emissions in Brazil, Russia, India, China, and South Africa (BRICS) economies from 1991 to 2019 using a nonlinear panel autoregressive distributed lag approach. Findings show that positive change in education has reduced CO2 emissions, while a negative change in education has increased CO2 emissions in the long run in a group of BRICS. Regarding economy-wise analysis, a positive change in education reduces CO2 emissions in Russia, China, and South Africa in the long run, but a negative change in education has an increasing impact on CO2 emissions in Brazil and China. The results of robustness are also maintained in group and economy-wise empirical analysis. Policymakers should develop the education sector infrastructure in order to support the decrease of CO2 emissions., (© 2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

With rapid economic growth, BRICS is facing enormous burdens of carbon emission and severe issues of income inequality. However, behind this economic success, the BRICS economies also face few thoughtful challenges to improve environmental quality by catching up the sustainable development goals. Consequently, the existing empirical research is concerned with the dynamic links between income inequality and CO 2 emissions by using the novel nonlinear ARDL approach, but small attention has been paid to the BRICS in literature. Therefore, we observed that a negative and positive change in income inequality has positive effect on CO 2 emissions in Russia and South Africa in the long run, although a positive change in income inequality has positive effects on CO 2 emissions in Brazil, Russia, and China, while a negative change in income inequality has negative effect on CO 2 emissions in India, Brazil, and Russia in the short run. Hence, the findings value specific attention from policymakers in BRICS economies., (© 2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Since developing countries experience economic and environmental sustainability challenges, it is desirable digging into the linkages between economic and environmental parameters. The purpose of this work is to evaluate the existence of the environmental Kuznets curve (EKC) theory (i.e., the inverse U-shape connection between real GDP per capita and per capita carbon dioxide emissions) in the sample of 11 developing countries. By using balanced annual panel data in the period between 1992 and 2014 and two alternative estimation techniques, we explored the potential inverted U-shaped linkage between carbon dioxide emissions and real GDP per capita in the sample of interest. For analysis purposes, Pedroni and Westerlund co-integration techniques are employed. Then, fully modified ordinary least squares, pooled mean group methods are applied for long-run parameter estimations. And, the Dumitrescu-Hurlin causality approach is employed for causal directions. Firstly, this work's findings provide the supportive evidence to the inverse U-shaped linkage in the long-run, indicating that an increase in real GDP per capita and electricity consumption tends to mitigate long-run carbon dioxide emissions in the developing countries, for the whole sample. Secondly, the country-specific findings suggested the presence of EKC theory for Brazil, China, India, Malaysia, the Russian Federation, Thailand, and Turkey. It implicated that these countries are on the path of attaining environmental sustainability in the long-run. However, Mexico, Philippines, Indonesia, and South Africa failed to lend credence to the EKC theory. It manifested that these countries need to design strategies directed to reduce carbon dioxide emissions from economic activity and electricity generation through efficiency improvement or promotion of renewables. Finally, bidirectional causal links are observed among all the variables of interest. The findings suggest that country-specific targeted action plans should be implemented to ensure the environmental sustainability in the developing world.

For examining the short-run and long-run asymmetric effect of oil prices on stock prices, recent literature uses standard nonlinear autoregressive distributed lag model. However, this model decomposes oil price series into partial sum of positive and negative changes only and fails to examine the effect of extreme changes in the oil price series on stock prices. This study, therefore, extends the existing literature by focusing on the emerging seven countries, i.e., Brazil, India, Russia, China, Mexico, Indonesia, and Turkey, and uses multiple threshold nonlinear ARDL model. This extended model helps to examine the asymmetric effect of extremely small to extremely large changes in the oil price series on stock prices. The estimates from standard nonlinear ARDL model indicate that, in the short run, oil prices significantly and asymmetrically affect stock prices in the context of Russia, Indonesia, and India only, whereas in the long run, insignificant effect is found for all sample countries. On the contrary, multiple threshold nonlinear ARDL model supports asymmetric effect in long run and short run for all sample countries where this effect is stronger in short run. Moreover, all diagnostic tests indicate that this extended model enjoys a better fit and is more stable than the traditional models. The findings, based on this model, provide deeper insights on the relationship between oil prices and stock prices and can be used for investors, policymakers, and other stakeholders.

This study investigates the effect of financial development and economic growth on ecological footprint by including non-renewable energy consumption and trade openness as additional determinants. For this purpose, annual data of 10 countries with the highest ecological footprint (China, the USA, India, Japan, Brazil, Indonesia, Mexico, Korea, Turkey, and the UK) for the period 1992-2017 is used. The Westerlund and Edgerton (2007) Panel LM bootstrap test results reveal that there is cointegration between the variables. Additionally, the results obtained from the Common Correlated Effects (CCE) coefficient estimator show that financial development, economic growth, and non-renewable energy consumption negatively affect environmental quality by increasing ecological footprint. On other hand, the effect of trade openness on ecological footprint is found to be statistically insignificant. In addition, according to the panel causality test results, a unidirectional causality from financial development to ecological footprint is found while bidirectional causality between economic growth and ecological footprint exists. Therefore, it would be beneficial for policymakers in such countries to direct financial resources to green energy production and consumption and to encourage projects and practices., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

Among the environmental economics research issues, the issue of convergence has received quite a lot of attention, which is also known as stationary analysis. In this research strand, whether shocks to the time series variable are permanent or temporary is tested via the unit root tests. In this study, based on the theory and empirical works of stochastic convergence, we evaluate the convergence for the BASIC member countries, including Brazil, South Africa, India, and China. We use a variety of methodologies to see whether the convergence of ecological footprint holds for these countries or not. We first use the wavelet decomposition technique to decompose the series into the short run, middle run, and long run, and then we run several unit root tests to confirm the stationarity property of the series. The methodologies implemented in this study allow us to apply econometric tests to the original series as well as to the decomposed series. The results of panel CIPS test demonstrate that the null hypothesis of unit root could be rejected for the short run but not for the middle and long run, implying that long-lasting impact might prevail due to any shocks to the ecological footprint in the middle and long run. The results for individual countries varied., (© 2023. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This study examines links between Morgan and Stanley capital Investment (MSCI), foreign direct investment (FDI), renewable energy, urbanization, and trade openness on environmental degradation in (Brazil, Russia, India, China, South Africa) BRICS countries. In this study, generalized method of moment (GMM) estimation is applied on a data set ranging from 1993 to 2018. Results illustrate that stock market index price (MSCI) has negative relationship on CO 2 emissions in India, China, Russia, and South Africa and has positive relationship in Brazil. One possible reason for this is strong environmental regulations and their enforcement by Brazilian government. The study also finds that trade openness, FDI, and urbanization have a significant positive relationship on environmental degradation. The impact of stock market development on environmental degradation varies among BRICS countries. Our outcomes have significant policy implications. For example, the policy makers have to initiate effective strategies to promote the renewable energy sources to meet the increasing demand for energy by replacing the use of conventional energy such as coal, gas, and oil. This will help to reduce the CO 2 emissions from fossil fuel and ensure sustainable stock market development in the BRICS nations. BRICS countries who have taken the initiative and formulated policies for businesses to conserve the environment play a positive role compared to those who do not.

In this paper, the BASIC (Brazil, South Africa, India, and China) countries, which play an increasingly significant role in combating climate change, are selected as the research objects. First, we investigate the driving factors of the evolution of carbon emissions in the BASIC group from 2000 to 2016. Second, we use the Monte Carlo simulation to analyze the potential evolution trend of carbon emissions in the benchmark scenario, optimization scenario, and enhanced scenario in the BASIC group from 2017 to 2030 to judge whether the countries can achieve their own autonomous contribution goals. Third, we evaluate whether the BASIC INDC can provide practical support for making the global temperature control goals described in the Paris Agreement. The results show that first, the contribution rate of the energy consumption structure and population size to the carbon emissions of the BASIC are low, and the contributions of R&D efficiency, R&D intensity, and investment intensity to the carbon emission change in the BASIC group are more prominent. Second, under the benchmark scenario, Brazil, South Africa, India, and China from the difference between the complete INDC targets respectively is 265.50 Mt, 207.86 Mt, 1034.70 Mt, and 4660.82 Mt. Under the optimization scenario, China could meet the INDC goals. The gap between Brazil, South Africa, and India is 60.06 Mt, 9.50 Mt, and 413.74 Mt, respectively. Under the enhanced scenario, China and South Africa could meet the INDC target, while Brazil and India are 15.69 Mt and 228.28 Mt away from the INDC target, respectively. Third, although the INDC goals of Brazil and India can achieve the carbon reduction allocated under the 2 °C targets, the INDC targets submitted by the BASIC are not enough to reach the carbon reduction allocated under the global 1.5 °C destination; Brazil, South Africa, India, and China's gap is 64.14 Mt, 246.15 Mt, 236.84 Mt, 3399.64 Mt, respectively. Fourth, Brazil, South Africa, and China should increase its R&D on energy-saving and emission reduction technologies, and India should develop reasonable population policies and green economic development policies.

This paper provides an assessment of energy density and energy efficiency and creates an important indicator of environmental performance. This article applied two mathematical models and econometric techniques to obtain detailed and specific results. The DEA and the non-normative account aggregation mean a collective aggregation to form a mathematical aggregation tool to create an environmental index for the BRICS countries (Brazil, Russia, India, China, and South Africa) based on available data from 2011 to 2016. The advantage of the proposed approach is to manage the irregularities of the data and follow the desired properties of the index number. The current paper is relevant for the broad scope of construction, the environmental index, and the evolution of the rankings of countries based on multiple indicators. Our results indicate that Brazil and Russia have the highest values of the Environmental Performance Index, which range between 67.44 and 60.70, respectively. India has a minimum value of 30.57 of the environmental index. The analysis shows that Brazil, Russia, and South Africa have the best scores and that these countries have the best results, while China and India also have the best results. This study can help form a valuable political tool for the development and development of the country's politics.

Every year the concern from environmental pollution increases as it affects human health. In the current paper, it is analyzed the evolution of the air quality in different cities on international level related to the reduction in mobility trend due to the emergence of the pandemic. The air pollution is studied in order to achieve healthier cities in the future and create an awareness for the citizens. The COVID-19 pandemic situation was declared during the first months of 2020 and has shown (indirectly) the effects that restrictions on human activity and road traffic have on atmospheric pollutant values. This pandemic condition derived, in most cases, in mobility restrictions in order to decrease the spread of the virus through the density of population in different places and, as a result of these restrictions, pollutant presence decreased equally. This article analyzes some of the largest cities around the world, such as Tsuen Wan district in Hong Kong (China), Los Angeles (USA), London (UK), São Paulo (Brazil), Bangalore (India), Johannesburg (South Africa), and Sydney (Australia) in order to check the different mobility restriction policies established in each location, and how those restrictions led to decrease the levels of some pollutant particles such as NO 2 in the atmosphere. This should serve as a focus of awareness of the city and political interests of how it affects human activity, and those measures should be taken to reduce pollutants., (© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

The role of government size and digitization in the process of environmental quality is a matter of considerable debate in the field of environmental economics. BRICS economies have suffered from environmental pollution. This paper scrutinizes that how CO 2 emissions respond to government size and digitization in BRICS economies. Empirical estimates of the ARDL approach show that government size has a positive impact on CO 2 in Brazil, India, and China, while negative impact on CO 2 in Russia in the long run. The long-run estimates reveal a negative and significant effect of digitization on CO 2 in Brazil, India, and China. Education and e-learning activities have a favorable and crucial role played in environmental quality in Brazil, India, and China. Based on these findings, BRICS authorities should improve the efficiency of government expenditures and invest more in digitization to improve the quality of the environment., (© 2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This paper scrutinizes the asymmetric impact of education and education expenditure on clean energy consumption and CO2 emissions in the BRICS economies using annual data for the period 1991-2019. The analysis employs a nonlinear autoregressive distributed lag (ARDL) framework. Findings unfold that a positive change in education contributes to increasing clean energy consumption in Brazil, Russia, India, and China. This finding implies that a negative change in education contributes to reducing clean energy consumption in Brazil, Russia, and India in the long run. Nonetheless, a positive change in education expenditure increased the clean energy consumption in Brazil, Russia, and India, while it has decreased in South Africa. On the dark side, a negative change in education expenditure degrades clean energy consumption in India, China, and South Africa in the long run. The asymmetric empirical results of CO2 emissions are mixed, economy-specific, and vary across group countries in the long run. We find that the education and education expenditure has long-run asymmetric effects in BRICS industries. Thus empirical findings give us robust policy implications for BRICS economies., (© 2021. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.)

This paper illustrates the direct and indirect effects of democracy on CO 2 emissions in the BRICS countries (Brazil, Russia, India, China, and South Africa) from 1992 to 2018. In view of the distribution heterogeneity of CO 2 emissions, the panel quantile regression model is especially used to explore the nexus among different variables. Furthermore, in order to predict the trends of CO 2 emissions in different countries, we also estimate the kernel density function of CO 2 emissions in the BRICS countries by the quantile-fitted values. The results indicate that the direct impact of democracy on carbon dioxide emissions is significantly negative and great at high-emission countries. Although the indirect effect of democracy is positive in China and negative in Brazil and South Africa, the total effect of democracy on CO 2 emissions remains negative in all BRICS countries. The estimation of kernel density function shows that the distribution of CO 2 emissions in each country is gradually concentrated. Moreover, there is an environmental Kuznets curve depicting the linkage of urbanization and carbon dioxide emissions in Brazil and South Africa. These findings further highlight that the impact of democracy on high-emission and low-emission countries should be taken into account in policymaking to achieve sustainable developments.

In this paper, we investigated the association between CO 2 emissions, remittances, income, energy use, and foreign direct investment (FDI) through panel cointegration analysis, common correlated effect mean group (CCEMG), fully modified least squares (FM-LS) estimates, and panel causality test for the Brazil, Russia, India, China, and South Africa (BRICS) economies over 1986-2016. The empirical outcomes of CCEMG and FM-LS clarified that remittance inflows into BRICS region are contributing to environmental degradation. Similarly, results in the case of Brazil, Russia, and China supported the remittances-led emission hypothesis. On the other hand, different results have been reached in India, thus the remittances; inflows have dictated that they are helping to combat CO 2 emission. Furthermore, FDI has a positive and significant sign for BRICS economies. This relationship narrated that the FDI inflows to this region increase the CO 2 emission, hence obeying the pollution haven hypothesis. Finally, energy use also supports the energy-led emanation phenomenon in BRICS panel and alongside the countries. The panel causality test confirms the bidirectional linkage between remittances and CO 2 emissions.

The related literature reveal that the papers on environmental pollution do not sufficiently analyse the cement production which is an important determinant of air pollution and health problems by using econometric methods. To fill this gap, this paper aims to examine the relationship between cement production, air pollution, mortality rate, and economic growth by employing MS Bayesian Vector Autoregressive (MScBVAR) and Markov Switching Bayesian Granger causality (MScBGC) approaches from 1960 to 2017 for China, Brazil, India, Turkey and the USA. MSIA(2)-BVAR(1) model for China, MSIAH(2)-BVAR(3) models for India, MSIAH(3)-BVAR(2) for Brazil, and MSIAH(3)-BVAR(1) for Turkey, and MSIAH(2)-BVAR(2) for the USA were selected. The MScBGC results revealed that the cement production is granger cause of mortality rate, air pollution, and economic growth in all regimes for China, India, Brazil, Turkey, and the USA.

In a neo-classical aggregate production and Stochastic Impacts by Regression on Population, Affluence and Technology (STIRPAT) modeling framework, the paper attempts to explore the relationship between disaggregated energy consumption, economic growth, and carbon dioxide emissions in case of five emerging market economies-Brazil, Russia, China, India, and South Africa (BRICS) over the period 1992 to 2016. The study applied the robust unit root, cointegration, and long-run elasticity estimation methods like Pooled Mean Group and differenced panel generalized method of moments for empirical exercise. Having detected the panel heterogeneity and cross-sectional dependence, the cointegration tests documented the evidence of a long-run association among the variables. In the long-run, capital, labor, and non-renewable energy consumption are found to affect the economic growth positively. On the contrary, the impact of renewable energy consumption on the economic growth is found be positive but statistically insignificant. Moreover, population, per-capita income, and non-renewable energy consumption are found to increase the emissions whereas renewable energy consumption decreases them. Therefore, along with a proper emissions controls, BRICS countries should design and implement effective support policies so as to ensure the economic growth along with environmental sustainability.

This paper empirically examines the effects of urbanization and income inequality on CO 2 emissions in the BRICS economies (i.e., Brazil, Russia, India, China, and South Africa) during the periods 1994-2013. The method we used is the panel quantile regression, which takes into account the unobserved individual heterogeneity and distributional heterogeneity. Our empirical results indicate that urbanization has a significant and negative impact on carbon emissions, except in the 80 th , 90 th , and 95 th quantiles. We also quantitatively investigate the direct and indirect effect of urbanization on carbon emissions, and the results show that we may underestimate urbanization's effect on carbon emissions if we ignore its indirect effect. In addition, in middle- and high-emission countries, income inequality has a significant and positive impact on carbon emissions. The results of our study indicate that in the BRICS economies, there is an inverted U-shaped environmental Kuznets curve (EKC) between the GDP per capita and carbon emissions. The conclusions of this study have important policy implications for policymakers. Policymakers should try to narrow the income gap between the rich and the poor to improve environmental quality; the BRICS economies can speed up urbanization to reduce carbon emissions, but they must improve energy efficiency and use clean energy to the greatest extent in the process.