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This study examines the empirical link between remittance inflows and India's economic growth, particularly emphasizing the association's asymmetries as the prior studies were neglected. Therefore, it formulated a growth function that assesses the non-linear influence of the remittance inflows on economic growth by endogenizing the gross fixed capital formation, official exchange rate, and export growth. Relying on the annual time series data for India, the work uses the Non-Linear Auto-Regressive Distribution Lag (NARDL) model to expose the non-linear influence of the remittance inflows on economic growth by controlling the gross fixed capital formation, official exchange rate, and export growth for the period ranges from 1975 to 2021. The outcomes show the presence of the long-run relationship among the variables vector. Further, the results indicate an asymmetric impact of remittance inflows on economic growth both in the long run and short run. Moreover, the findings reveal a rise in the remittance inflows leads to an increase in economic growth, whereas a fall in the remittance inflows ends up in a reduction of economic growth. Additionally, the outcomes show a negative and significant impact of gross fixed capital formation and official exchange rate on economic growth in the long run. It also observed an insignificant negative influence of export growth on the specified growth model. [ABSTRACT FROM AUTHOR]

This paper empirically investigates the relative effectiveness of economic globalization, trade openness, and financial openness on income inequality in low-, middle-, and high-income countries for the panel data over the period from 1991 to 2020 by endogenizing economic growth, urbanization, agriculture, industry, and service sectors' value-added as % of GDP as control variables in income inequality function. The results emanating from the panel pooled mean group-autoregressive distributed lag (PMG-ARDL) test provide evidence of a significant long-run relationship among the variables. Interestingly, economic globalization reduces income inequality for high- and middle-income countries and increases it in low-income countries. On the other hand, trade openness reduces income inequality in high- and middle-income countries but increases it for low-income countries. In contrast, financial openness lessens income inequality in low-income countries but increases it for middle- and high-income countries. We find that urbanization increases income inequality in low-, middle- and high-income countries. We also find that economic growth decreases (increases) income inequality in high (middle and low)-income countries. Moreover, it is found that industrial and service sectors' output decrease (increases) income inequality in high (middle and low)-income countries, whereas agricultural output improves (deteriorates) income distribution in middle- and low- (high) income countries. In light of these findings, we suggest that the governments of low-income countries need to focus more on improving the level of globalization and trade openness to improve their economic conditions in long run. Both high- and middle-income countries should also improve their financial openness so that effective utilization of overseas finance will flourish their overall economy. [ABSTRACT FROM AUTHOR]

In this study, we investigate the impact of energy poverty on macroeconomic variables. In particular, this study focuses on the technological threshold-based energy poverty approach due to its merits over other techniques to explore the dynamic link between ecological footprint and energy poverty in sub-Saharan African countries from 1995 to 2018. To do so, this study uses second-generation panel unit root and panel cointegration tests. First, the results derived from the cointegration tests reveal the existence of a long-run relationship among the selected variables. Second, this study applies both the random effect model and fully modified ordinary least squares estimates to calculate the long-run elasticities. The results obtained from the above tests indicate that energy poverty significantly reduces the ecological footprint; however, it does not affect the economic growth in sub-Saharan Africa. Therefore, from a policy perspective, developing countries can target energy poverty as a development indicator for protecting the environment. [ABSTRACT FROM AUTHOR]

The development of renewable energy sources for electricity generation is necessary for sustainable development in India. Thus, the present study examines the effects of renewable and non-renewable electricity generation on economic growth in India during 1991–2019. In this regard, the robust time series econometric tools like autoregressive distributed lag (ARDL) and non-linear autoregressive distributed lag (NARDL) models are applied to the formulated economic growth function in the presence of both renewable and non-renewable electricity generation as key determinants. Moreover, the outcome of ARDL and NARDL models confirms the long-run relationship between the sample variables. Further, the long-run result shows that economic growth is positively affected by renewable and non-renewable electricity generation, according to the ARDL model. At the same time, the finding from NARDL indicates that a negative change in non-renewable electricity generation leads to an increase in economic growth in India. [ABSTRACT FROM AUTHOR]

We empirically examine the effects of overseas aggregate aid and energy aid inflows on renewable and non-renewable electricity production in selected BRICS countries (i.e., Brazil, India, China, and South Africa) from 1995 to 2015. Economic growth, foreign direct investment inflows, and trade openness are control variables in electricity production functions. The results from employing fully modified ordinary least square and dynamic OLS techniques indicate that economic growth, inflows of aggregate aid, energy aid, and foreign direct investment promote renewable electricity production, while trade openness reduces it. We also find that aggregate aid and energy aid inflows reduce the non-renewable electricity production, while economic growth, foreign direct investment inflows, and trade openness promote it. Moreover, our study is unique and adopts different panel estimators, ensuring the robustness of the research findings. Our findings suggest that the BRICS economies' march towards a sustainable environment becomes possible if policymakers, in their climate mitigation policy, encourage greater investments of overseas aggregate aid and energy aid inflows toward renewable electricity production. [ABSTRACT FROM AUTHOR]

For accelerating economic growth, the role of electricity production and consumption is undeniable. Thus, the economic growth aspect of electricity consumption has already been well established in the literature. However, the attainment of sustainable economic growth has become an important concern for most countries; mere focus on electricity consumption on economic growth is not sufficient. As a result, impact of electricity production from various sources on economic growth and environmental quality needs to be explore in detail to give direction towards sustainable economic growth. Hence, this study aims to evaluate the impact of electricity production from various sources on Japan's economic growth and environmental quality, spanning from 1966 to 2014. The study used the ARDL bounds testing approach of cointegration to establish the long-run relationship between the variables under consideration. The outcomes emanated from the bound test show the presence of a long-run relationship among the studied variables. Furthermore, the ARDL-based long-run result indicates that electricity generation from coal is not viable for the economy and environment, whereas electricity production from hydro, natural gas, nuclear, and oil sources is found to be viable since it improves the economy and environmental quality in Japan. The robustness of the long-run results is further confirmed by using the fully modified OLS (FMOLS). Therefore, policy formulation related to electricity generation in Japan has to be taken care of both the economic growth and environmental quality angle. Furthermore, the measures for curbing coal based electricity needs to give profound significance while making electricity policy in Japan. [ABSTRACT FROM AUTHOR]

A plethora of studies reveals that tourism development and structural change contribute to the socioeconomic progress of the countries. However, the effects of tourism development and structural change on environmental quality are yet to be explored in detail. Hence, the present work evaluates the dynamics of tourism development and structural change on emissions of CO2 as an environmental quality, representative by endogenizing economic progress, consumption of energy, and structural break in India. Toward the empirical front, this study relies on quarterly time series data for 1995Q1–2016Q4 within an approach of bounds testing for cointegration due to its simulation capacity for integration order of the study variables. The emanated outcomes reveal the long-term association between the variables of interest. After validating the long-term correspondence among the variables, the ARDL-based long-run results show that tourism development worsens the quality of the environment, whereas transition in the structure of the economy cause for improving the quality of the environment and structural break in the series shows an insignificant role in carbon emissions. Moreover, it is revealed that economic growth improves the quality of the environment, and consumption of energy exhibits a deleterious association with environmental quality. These findings' robustness is confirmed using fully modified/dynamic OLS and canonical cointegrating regression. Therefore, the study suggests that policymakers must ensure a sustainable tourism practice to reap environmental sustainability. Similarly, the government should promote investment in the service sector to maintain a desirable environmental quality. [ABSTRACT FROM AUTHOR]

This study aims to evaluate the impact of economic structure on the Environmental Kuznets Curve (EKC) in India. The present study deviates from the bulk of study in the literature with the incorporation of both aggregated and disaggregated measures of economic development on the environmental degradation function. For the empirical analysis, the study employed the Auto-Regressive Distributed Lag (ARDL) bounds testing approach of cointegration to analyse the long-run and short-run relationship during 1971–2014. Further, the direction of the causality is investigated through the Wald test approach. The results revealed that the conventional EKC hypothesis does not hold in India in both aggregated and disaggregated models since economic growth and its component have a U-shaped impact on the environmental quality in India. However, the effect of population on environmental quality is positive but not significant in the aggregated model. Whereas, in the disaggregated model, it is significantly affecting environmental quality. Hence, it is possible to infer that the population of the country increases, the demand for energy consumption increase tremendously, particularly consumption of fossil fuel like coal, oil, and natural gas, and is also evident from the energy structure coefficient from both models. This increase is due to the scarcity of renewable energy for meeting the needs of people. On the contrary, urbanization reduces environmental degradation, which may be due to improved living conditions in terms of efficient infrastructure and energy efficiency in the urban area leading to a negative relation between urbanization and environmental degradation. [ABSTRACT FROM AUTHOR]

This paper explores the relationship between renewable energy consumption, urbanization, human capital, trade, natural resources, and material footprint for BRICS countries from 1990 to 2016. We apply the cross-sectional dependency test to check the correlation among the cross-section. Then, we use the second-generation panel test like CADF and CIPS to check the stationary in the series. After that, we go for the panel cointegration test, i.e., Pedroni and Westerlund panel cointegration, to know the long-run relationship of the variables. The test results reject the null hypothesis of no cointegration among the variables and accept cointegration. The long-run results indicate that economic growth, natural resources, renewable energy, and urbanization have reduced the environmental quality for BRICS countries in case of material footprint employed to measure environmental degradation. However, foreign trade and human capital improve environmental quality. Based on the empirical results, the study recommended some important policy suggestions to achieve sustainable development in BRICS countries. [ABSTRACT FROM AUTHOR]

The present research paper tries to explore the existence of the environmental Kuznets curve in New Zealand by taking annual time series data from 1970 to 2017. The study also considers other variables like trade openness, financial development, and foreign direct investment. Depending on the nature of the selected variables, the study has utilized the autoregressive distributed lag(ARDL) model to explore the cointegration among the variables. The result verifies the existence of the long-run cointegration among the variables. Further, it confirms the presence of the environmental Kuznets curve. The estimated result also shows that trade openness, financial development, and foreign direct investment improves the environmental quality. Moreover, to verify the environmental Kuznets curve visually, we have plotted the CO2 emissions and economic growth, and the scatter plot exhibits an inverted U–shaped relationship between CO2 emissions and economic growth. The turnaround point of the plot with a single break is in 1987. These findings give a wide range of policies for economic growth and environmental quality in New Zealand. [ABSTRACT FROM AUTHOR]