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This study explores the effects of renewable and nonrenewable energy demand on export product diversification, economic growth, natural resources, human capital, and trade in GCC (Gulf Cooperation Council) countries using data of six countries from 1990 to 2019. The empirical analysis integrates the panel unit root tests (IPS and CIPS), panel quantile regression, and fully modified OLS models. The empirical results confirm that there exists a significant negative relationship between renewable energy and export diversification; signifying that diversification of products will reduce renewable energy. Similarly, when compared to the square of export product diversification, it shows a positive and significant correlation. The empirical findings highlighted the presence of Kuznets's hypothesis between export product diversification, renewable, and non-renewable energy consumption. Furthermore, the findings suggest that natural resources and economic growth may increase overall energy consumption in GCC countries. It implies an important policy suggestion that encouraging export diversification will reduce GCC countries' reliance on oil to meet energy demand. [ABSTRACT FROM AUTHOR]

Different from previous studies which examine the relationship between either separate parameters or drivers of economic development and ecological sustainability, this study employs the productive capacity index to provide a holistic understanding into the ecological impacts of improving the productive sources of a nation. It also considers the increasingly importance role of green financial policy in lessening the ecological degradation under an uncertain economic and political environment. We adopt advanced panel quantile regression to three samples of 34 high-, 17 upper middle-, and 17 lower middle-income countries from 2000 to 2018. The empirical results show the existence of N-shaped, inverted N-shaped, and U-shaped relationship between productive capacity and ecological footprint in high-, upper middle-, and lower middle-income country groups, respectively. Meanwhile, green financial policy is found to generate beneficial effect on the quality of the ecology in all panels. Uncertainty reduces ecological degradation in high- and upper middle-income countries but intensifies ecological ruin in lower middle-income countries. This complicated relationship between variables of interest warns policymakers to adopt suitable economic and political policies that can deal with both severe ecological degradation and raising uncertainty. Finding the presence of the Environmental Kuznets Curve (EKC) at different levels of development and the presence of the turnaround points within the sample ranges also validates the EKC hypothesis to be a policy benchmarking tool for developing effective environmental policies at the global level. This study outcomes have been utilized to develop Sustainable Development Goals oriented policy framework. • We employ productive capacity index for ecological impact assessment. • We adopt advanced panel quantile regression. • Our study is on high-, upper middle-, 17 lower middle-income countries. • Study is done from 2000 to 2018. • Results show different productive capacity-ecological footprint associations. [ABSTRACT FROM AUTHOR]

The nexus between economic growth and energy consumption has been exhaustively explored, yet the empirical evidence and the theoretical points of view remain at odds. This study contextualises and capitalises on this discrepancy and examines the connection between non-renewable and renewable energy consumption and economic growth, considering the moderating impact of economic complexity, trade openness, FDI and institutional quality. We use a panel quantile regression model and data from 32 European countries in the period 1995–2014. Our key results show that economic complexity, renewable energy consumption, trade openness, FDI and institutional quality enhance economic growth. The results for non-renewable energy consumption showed both a positive and a negative impact in different quantiles, indicating that the consumption of renewable energy is in fact more effective for economic growth than the use of non-renewables. Our findings have far-reaching implications for stakeholders and policymakers working on sustainable economic growth and energy policy with a view to meeting the commitments made under the Paris Agreement (COP21). • Economic complexity contributes to economic growth. • Trade openness, foreign direct investment and institutional quality enhance economic growth. • Renewable energy is more suitable for economic growth than non-renewable. • To honour Paris Agreement (COP21), renewable energy consumption should be encouraged. [ABSTRACT FROM AUTHOR]

This study contributes to the environment-growth nexus literature by examining corruption's effect on environmental quality in 17 Middle East and North Africa (MENA) countries between 1984 and 2018. We use four different indicators of environmental degradation (ecological footprint, carbon dioxide emissions, greenhouse gas emissions, and carbon emission intensity) to gain a comprehensive view of the relationship. This study's methodological value added is the application of the method of moments quantile regression, which enables us to account for different relationships between the independent variables and environmental quality at different levels of environmental degradation. The results indicate that corruption worsens environmental quality based on three of the four indicators of environmental degradation, while the impact appears to become less severe at higher levels of environmental deterioration. The results also indicate that traditional mean-based panel data estimation methods provide an incomplete picture of the factors behind environmental problems: The explanatory variables' impacts tend to vary at different levels of environmental quality, and the impact's sign can even change when moving from the lowest to the highest environmental degradation quantiles. Overall, the results highlight the importance of curbing corruption to enable enforcement of more stringent environmental regulations. [Display omitted] • The effect of corruption on environmental degradation is investigated. • We used the Method of Moment Quantile Estimations. • Corruption worsens environmental quality in the MENA region. • Corruption increases ecological footprint, GHG emission and carbon emission intensity. [ABSTRACT FROM AUTHOR]