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This study explores the intricate interplay among cleaner energy, environmental policies, fiscal spending, trade and their impacts on green economic growth (GEG), and carbon dioxide emissions (CO2e) in the G-7 countries from 1990 to 2021. It fills a significant gap in the current literature by utilizing advanced second-generation panel data analysis techniques, particularly the cross-sectionally augmented autoregressive distributive lag (CS-ARDL) technique. Primarily, it finds that environmental policy and cleaner energy correlate with reduced CO2e levels, highlighting their crucial role in environmental protection and carbon mitigation. Contrarily, the study reveals a complex effect of fiscal spending, showing that its impact on CO2e varies over short and long-term periods, potentially leading to environmental degradation. Additionally, environmental policy and cleaner energy adoption are linked with a boost in green growth, underlining their significance for sustainable development. The study's results also support the theory that embracing eco-friendly technologies is crucial for sustaining and enhancing environmental quality. Furthermore, panel causality tests provide consistent results, supporting the argument for green growth and environmental sustainability advocacy among policymakers in G-7 countries. These insights offer a holistic understanding of the dynamics influencing environmental outcomes and present a factual rationale for informed policymaking. [ABSTRACT FROM AUTHOR]

This study provides a novel perspective for examining the relationship between economic growth, energy consumption, and carbon dioxide (CO2) emissions by comparing developing countries, particularly those in the South Asian region, with developed regions represented by the G-7 countries. The analysis is based on datasets spanning from 1996 to 2021. We use various analytical methodologies, including panel regression models, simultaneous regression models, and panel autoregressive distributed lag (ARDL) models to provide a comprehensive understanding of these complex relationships. The findings indicate that energy consumption strongly drives economic growth in both G-7 and South Asian countries. Furthermore, CO2 emissions are found to have a positive impact on economic growth in both regions. It is also observed that higher per capita gross domestic product (GDP) encourages greater energy consumption in both regions. Additionally, CO2 emissions positively influence energy consumption in both groups. The findings also highlight that financial development and population growth positively affect energy consumption in South Asian countries. As for CO2 emissions, the results indicate that per capita GDP positively contributes to increased pollution in both regions, coupled with the fact that higher energy consumption aligns with higher CO2 emissions. In G-7 countries, renewable electricity is linked with reduced CO2 emissions. In light of these findings, policymakers are advised to prioritize sustainable economic growth by promoting energy-efficient technologies and renewable energy sources. Furthermore, promoting the use of renewable energy sources can contribute to reducing CO2 emissions and supporting environmental preservation. [ABSTRACT FROM AUTHOR]

Copyright of Efil Journal of Economic Research / Efil Ekonomi Araştırmaları Dergisi is the property of Efil Journal of Economic Research and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Izmir Journal of Economics is the property of Dokuz Eylul University, Faculty of Economics & Administrative Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

[Display omitted] • Empirical evidence of a U-inverted behaviour between economic complexity and the ecological footprint in G-7 countries. • Human development, high innovation processes, and renewable energy consumption reduces the ecological footprint. • The damper effect between human development and innovation processes on economic complexity reduces the global effect on the ecological footprint. The G-7 economies include economically developed countries on a global scale. The high economic complexity and ecological behaviour of these countries have led to increased concern in other countries within the conjuncture. For this reason, this study investigates the impact of economic complexity, human development, high innovation processes, and renewable energy consumption on the ecological footprint, presenting as the main novelty the damper effect that human development and innovation processes exert on economic complexity and the global effect on the ecological footprint. This empirical evidence is analyzed under the validation of a U-inverted EKĆs behaviour between ecological footprint and economic complexity for 1991–2018. Our study follows a second-generation perspective that generates reliable and robust results using Cup-FMOLS, Konya panel bootstrap causality and panel VAR analyses under cross-sectional dependence and slope heterogeneity. The long-run elasticity estimates calculated with the Cup-FMOLS approach suggest that economic complexity, human development, high innovation process and interaction variables reduce the ecological footprint. The unidirectional causality from economic complexity and human development to ecological footprint, as well as from economic complexity and human development to the high innovation process, is part of the Konya bootstrap causality test. In addition, a bidirectional causality linkage is revealed between renewable energy consumption and ecological footprint, human development and high innovation process. In G-7 countries, where economic complexity is higher than in other countries, it is crucial to improve environmental quality to ensure sustainable development. The findings show that sustainable development in G-7 countries can be accelerated by improving renewable energy sources, R&D investments and social dimension. [ABSTRACT FROM AUTHOR]

The focus areas for COP-27 include fast-tracking our worldwide evolution to decarbonization in the energy industry and clean energy as the stockholder's effort to restrict global warming to 1.5 °C (2.7 °F) above the levels of pre-industrial. After this COP-27 summit, most of the developing countries will provoke challenges in accomplishing their targets of a carbon neutrality and sustainable economy with the minimum possible greenhouse gas (GHG) emissions. In this regard, the G-7 countries, despite prosperous cautiously, have not prospered in certifying ecological welfare in tandem. Nevertheless, these economies cannot endure their green growth attainments without instantaneously safeguarding their ecological features. To do this, green technologies and environmental taxes are vital apparatuses that can assist in accomplishing carbon neutrality objectives. Consequently, the current study investigates the influence of green technologies, environmental taxes, natural resources, renewable, and fossil fuel energy on GHG emissions in G-7 nations from 1994 to 2020. After confirming the cross-sectional dependency issue, this study uses a battery of second-generation panel methods to estimate the empirical findings. The estimated evidences discovered that green technologies, environmental taxes, and renewable protect environmental quality in the long run. However, natural resources and fossil fuel energy increase the GHG emissions levels. Furthermore, this study suggests that G-7 economies should be more focus on green technologies, imposing environmental taxes eco-innovation related developments, and promote renewable energy projects through the sustainable alteration of their consumption and production processes. [ABSTRACT FROM AUTHOR]

This study employs panel data from 1990 to 2020 for the G-7 countries (Canada, France, Germany, Italy, Japan, the UK, and the USA) and employs the examination of heterogeneous slope coefficients and cross-sectional dependence tests as preliminary steps before conducting cointegration analysis and second-generation unit-root tests. This study employs the method of movement quantile regression (MMQR) to analyze long-run and short-run relationships. The findings from the MMQR model indicate that economic growth and imports have a negative impact on consumption-based CO2 (CCO2) emissions, which worsens at higher quantiles. On the other hand, exports, energy efficiency, and renewable energy output (REO) have a positive effect on mitigating CCO2 emissions, with this effect becoming more pronounced at higher quantiles. Furthermore, the robustness of the results was confirmed through rigorous checks using quantile regression with optimized Markov Chain Monte Carlo techniques, which is a reliable non-parametric approach. These checks consistently demonstrated a significant impact on CCO2 emissions, thus validating the findings obtained from MMQR. Based on the outcomes, this study recommends that each G-7 nations should make efforts to regulate their CCO2 emissions by adopting measures that foster ecological equilibrium. Moreover, fostering export-driven sectors, exploring innovative strategies for REO, and improving energy efficiency are crucial measures for effectively tackling CCO2 emissions within the G-7 countries. The study highlights that renewable energy output (REO) and energy efficiency effectively mitigate CCO2 emissions at higher quantiles, suggesting the importance of policy measures supporting their development. Additionally, policies targeting import reduction, export promotion, and carbon pricing mechanisms emerge as strategies to curb emissions and foster sustainable development. [ABSTRACT FROM AUTHOR]

The foremost purpose of the study is to establish a point that an economy of G-7 countries has an abundance of resources to tackle the environmental changes that occur in the world, but these countries are still behind the line because in this modern era, environmental performance changes their shape, dimension, and nature very frequently and create a huge impact on globalization of world economy. To fill this gap, we use green investment, institutional quality, and economic growth on environmental performance for this, we use four proxies for green investment and three proxies for greenhouse gas, and we also use six proxies of institutional quality to do this using period of 1997 to 2021. Moreover, we have used the panel nonlinear autoregressive distributed lag method to evaluate the long-run and short-run asymmetric effects of green investment, institutional quality, and economic growth on greenhouse gas emissions. The findings of the study affirm that the positive change of green investment has a positive and significant relationship with environmental performance, while the negative change of green investment has a significant and positive influence with environmental performance in the long run. Furthermore, the outcomes demonstrate that the positive shock of institutional quality has a positive and significant relationship with environmental performance, while the negative shock of intuitional quality has a significant and positive association with environmental performance in the long run, whereas positive change in economic growth has a positive and significant with the environmental performance, while the negative change of economic growth has a positive effect with environmental performance in the long run. This study finds future precautions that institutional quality has to perform exceptionally and shows results very rapidly, while green investment with economic growth has also made a deadly combination to control greenhouse gas emission, so the role of G-7 countries is pretty clear and straight. Furthermore, it is suggested that governments and policymakers take a proactive stance to promote resource acquisition and investment across all industries. To reduce gas emissions, public interest might also be complementary to private ones. So, economic policymakers, specifically in G-7 countries, should consider strategies that support sustainable economic growth. [ABSTRACT FROM AUTHOR]

This study deals with the asymmetric effect of economic policy uncertainty and political stability on carbon dioxide (CO2) emissions considering also energy consumption and economic growth. In this context, the study investigates G-7 countries, which make up an important part of the world economy. Also, the study uses yearly data between 1997 and 2021 as the most available intersection data for all countries included. Besides, this study applies a novel nonlinear approach as quantile-on-quantile regression (QQR) as the base model, and quantile regression (QR) is used for robustness. The empirical results present that (i) economic policy uncertainty has a decreasing effect on CO2 emissions in Italy, Japan, and the United States of America (USA), whereas it has a mixed effect in Canada, France, Germany, and the United Kingdom (UK); (ii) political stability also has a mixed effect on CO2 emissions; (iii) energy consumption has an accelerating effect on CO2 emissions while the power of effect changes at quantiles; (iv) economic growth has generally an increasing effect on CO2 emissions, whereas it has a decreasing effect at lower quantiles in Japan, at middle quantiles in France and Germany, and at higher quantiles in Italy; and (v) the QR results support the robustness of QQR findings. Thus, the empirical results highlight that G-7 countries should consider the asymmetric and quantile-based varying effects of the economic policy uncertainty, political stability, and economic growth to reach their carbon neutrality targets. [ABSTRACT FROM AUTHOR]

With the exemption of Canada, the G‐7 countries have largely flourished at the detriment of their ecological sustainability bearing in mind that these countries' have remained ecologically deficit for several decades. Given the potential effect of environmental degradation associated with the trend of ecological deficit of these countries, this study attempts to understand the contribution of renewable energy dimensions through the measure of renewable energy efficiency and renewable energy use alongside evaluating the role of the four main aspects of economic freedom. By using empirical tools, the findings revealed that renewable energy aspects contribute to environmental sustainability among the countries through a significant mitigation of their ecological footprint. Importantly, the aspects of economic freedom, that is, government size, legal system and property rights, freedom to trade internationally, and regulation hampers environmental sustainability by increasing the countries ecological footprint. The elasticity of impact of this dimension of economic freedom is in the range of 0.19–0.21 at 1% statistically significant level. However, population of these countries does not show a detrimental effect, rather the finding revealed that population improves environmental quality by a statistically significant degree. Given these revelations, there are deducible policy take home from this study. [ABSTRACT FROM AUTHOR]

Copyright of Erciyes Akademi is the property of Erciyes Universitesi Sosyal Bilimler Dergisi and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

[Display omitted] • Probed multifaceted natural resources for sustainable industrial development (SID). • Applied econometric estimations through a novel Panel quantile regression strategy. • Coal, forest, and overall resources impede SID, while natural gas does the reverse. • Green energy transformation promotes SID through direct and moderation effects. • Technological, financial, and economic progress support SID. Climate change is the most phenomenal challenge to humanity, and its roots are intervened with unsustainable industrialization, exercising overexploitation of natural resources. Therefore, the departure from non-renewable to renewables has become inevitable, though thought-provoking. In this respect, we explore how green energy transformation moderates the impacts of multifaceted natural resources on sustainable industrial development in the presence of other covariates involving technological progress, financial development, and economic progress. We compiled data from Group of Seven (G-7) members over the 1995−2018 period and applied panel quantile regression (PQREG) to capture the effects across varying levels of quantiles of sustainable industrial development. Results revealed a positive role of natural gas rents, while coal, forest, and total natural resource rents contributed adverse implications for sustainable industrial development. However, the green energy transformation proved to be the game changer because it not only directly induced sustainable industrial development improvement but also turned the unfavorable effects of coal, forest, and total natural resources into favorable ones by interacting with those multifaceted natural resources. Technological, financial, and economic progress supported sustainable industrial development in G-7 nations, particularly in members with existing middle and upper scales of sustainable industrial development. These findings are robust enough when subjected to different estimation tools. In light of these outcomes, the interaction between green energy transformation and natural resource policy is inevitably critical to attaining natural resource efficiency for sustainable industrial development. Therefore, it is imperative to establish a close policy coordination between advancing green energy technology and allocating natural resource revenue to achieve sustainable development goals (SDGs), with a particular emphasis on SDG-7 and SDG-13. [ABSTRACT FROM AUTHOR]

Air transportation has a deep impact on environmental degradation due to the higher fossil fuel consumption. On the other hand, this industry also embraces the highest innovation that may alter its environmental consequences. However, there is a dearth of empirical evidence that explores the impact of air transportation and eco-innovation on environmental quality. Therefore, this study is a pioneering attempt to examine the role of air-transportation and eco-innovation in reducing environmental degradation in G7 countries using annual data from 1990 to 2019. In doing so, we employed various advance econometric approaches to handle issues arises from panel data such as Pesaran (2007) and Bai and Carrion-I-Silvestre (2009) used to examine the presence of unit root, cross-sectional dependency checked through Pesaran (2015) test, and for parameters heterogeneity through Pesaran and Yamagata (2008). Moreover, the Westerlund and Edgerton (2008) test and Cross Sectional Augmented ARDL were employed to analyse the long run and short run association among variables. The overall results show that air transportation and eco-innovation play an important role in abating environmental deterioration. Air transportation is negatively correlated with carbon emission and PM2.5 exposure (air quality) due to the improved technical structure of aircraft engines and the use of mixed ration or alternative aviation fuels. These results provide valuable suggestions for all stakeholders. [ABSTRACT FROM AUTHOR]

The G-7 economies comprise a few of the global, mainly economically developed countries. On the other hand, in conjunction with these high economic development performances, the ecological behaviors in G-7 anions have concurrently provoked to elevate deep apprehensions among the stakeholders. Therefore, the present research aims to empirically investigate the environmental influences of nuclear energy, industrialization, fossil fuel energy, and foreign direct investment (FDI) in the G-7 nations between 1991 and 2018. After checking the cross-sectional dependency, this study employed the first-generation ((full modified ordinary least square (FMOLS), dynamic ordinary least square (DOLS)) and second-generation (Driscoll and Kraay (D-K), feasible generalized least square (FGLS)) approaches for robust and reliable findings. The findings explore that nuclear energy production is ineffective in curbing the figure of ecological footprints in the long-run. Moreover, the industrialization process and fossil fuel energy consumption reduce environmental quality in the G-7 economies. More to the point, the empirical findings recommend that these nations can renovate their industrial production procedures in an eco-friendly behavior they can experience an unsoiled deployment of the energy transition. Similarly, the FDI also degrades environmental eminence in the long-run. This validates the pollution haven hypothesis in the G-7 countries. Based on these results, this study suggests the G-7 nations should reduce the production of nuclear energy levels, the transition from fossil fuels to renewable energy production in the industrial sector, reduce fossil fuel-based foreign investment, and assimilate ecological welfare strategies within their development planning. [ABSTRACT FROM AUTHOR]

Copyright of Journal of Abant Social Sciences / Abant Sosyal Bilimler Dergisi is the property of Journal of Abant Social Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

[Display omitted] • Impact of environmental policy stringency, natural resources rent, and technological innovation on CO 2 emissions. • Environmental policy stringency has negative impact on CO 2 emissions. • Natural resources rent increases the CO 2 emissions. • Interaction term of environmental policy stringency and natural resources rent reduces the CO 2 emissions. Natural resource management is indispensable keeping in view their positive economic impacts as well as their detrimental environmental consequences. To achieve certain SDGs, it is inevitable to manage natural resources through effective policies that help to inhibit adverse environmental impacts. Based on this approach, the current empirical analysis aims to probe whether environmental policy stringency intensifies, meagres, and/or halts the abysmal environmental impact of natural resources in G-7 countries (United Kingdom, United States, Canada, Italy, France, Japan, and Germany) for the period from 1990 to 2020. To that end, we rely on the second-generation panel data approaches and panel quantile regression. The outcomes reveal that natural resources increase carbon dioxide emission whereas the synergy of natural resources and environmental policy stringency plunges emissions across the quantiles. These findings suggest adoption of a strict environmental policy for attaining the targets of SGD-08 (economic growth), SDG-09 (innovations), SDG-11 (sustainable cities), SDG-12 (responsible consumption of natural resources), and SDG-13 (climate action). [ABSTRACT FROM AUTHOR]

The present study aims to examine the effect of energy productivity, international trade, especially by treating exports and imports distinctly with technological innovation and gross domestic product on Consumption-based Carbon emissions for G-7 countries over the period of 1996–2017. This study employed cross-section dependence and slope heterogeneity for evaluating the order of unit root. The cross-sectionally augmented autoregressive distributed lags model (CS-ARDL) is used for evaluating long and short-run relationships among variables; and an augmented mean group and a common correlated mean group test to check for robustness. The findings confirm cointegration relationships with structural breaks (e.g., the 2001 mild recession; the 2008 global financial crisis; the 2011 stock market decline; and the 2014 exports decline in Italy, France, the United Kingdom and Japan) among consumption based carbon emission, energy productivity, exports, imports, gross domestic product, and technological innovation. Further, energy productivity, exports and technological innovation are inversely related to consumption based carbon emission while imports and gross domestic product are positively associated with consumption-based carbon emissions for G-7 countries. The findings recommend the promotion of technological innovation and cleaner production for curbing consumption-based carbon emissions. [ABSTRACT FROM AUTHOR]

This study focused on examining the relationship among energy prices, financial development, foreign direct investments and economic growth on energy consumption for G-7 countries covered the 1980-2018 data period. We take into energy use as a dependent variable to project countries energy consumption and also financial development is measured by using BankDindex and BondDindex variables, for economic growth GDP per capita, net inflows for foreign direct investment and Brent crude oil price for energy prices. It has been applied the panel quantile regression model which is a new robust econometric method and two models are established. The empirical findings suggest that diverse variables have a clearly heterogeneous effect on energy use. An increase in both energy prices and foreign direct investments increases energy consumption. In Model 1, the effect of financial development on low energy consumption levels is lower, while the effect of the Banking sector is higher in countries with medium and high energy consumption. In Model 2, the Bond sector has a high impact in countries with low energy consumption but is meaningless. It has a positive and significant effect at levels with medium and high energy consumption. The impact of the banking sector on energy consumption is three times greater than the debt sector. In addition, the banking sector has a significant effect on the quantiles of low EC. We found another results for policymakers, to use financial development role in the economic growth process. [ABSTRACT FROM AUTHOR]

The G-7 economies comprise a few of the global, mainly economically developed countries. On the other hand, in conjunction with these high economic development performances, the ecological behaviors in G-7 anions have concurrently provoked to elevate deep apprehensions among the stakeholders. Therefore, the present research aims to empirically investigate the environmental influences of nuclear energy, industrialization, fossil fuel energy, and foreign direct investment (FDI) in the G-7 nations between 1991 and 2018. After checking the cross-sectional dependency, this study employed the first-generation ((full modified ordinary least square (FMOLS), dynamic ordinary least square (DOLS)) and second-generation (Driscoll and Kraay (D-K), feasible generalized least square (FGLS)) approaches for robust and reliable findings. The findings explore that nuclear energy production is ineffective in curbing the figure of ecological footprints in the long-run. Moreover, the industrialization process and fossil fuel energy consumption reduce environmental quality in the G-7 economies. More to the point, the empirical findings recommend that these nations can renovate their industrial production procedures in an eco-friendly behavior they can experience an unsoiled deployment of the energy transition. Similarly, the FDI also degrades environmental eminence in the long-run. This validates the pollution haven hypothesis in the G-7 countries. Based on these results, this study suggests the G-7 nations should reduce the production of nuclear energy levels, the transition from fossil fuels to renewable energy production in the industrial sector, reduce fossil fuel-based foreign investment, and assimilate ecological welfare strategies within their development planning.

The structural change is largely proliferated to adjust the momentous growth in tourism and energy demand, which is regulated by sound financial and business oriented measures in order to sustained economic profit. The objective of the study is to examine the impact of financial factors and business regulatory measures on energy and tourism demand in a group of seven (G‐7) countries, by using a consistent time series data from 1995–2015. The results of panel fixed effect regression confirm that financial and business regulatory measures increase energy and tourism demand. The panel causality results confirmed the unidirectional relationship running from finance to tourism and from energy to business regulatory measures that establish the finance‐led tourism growth and energy‐led business regulation hypothesis, while there is feedback relationship between energy and tourism, and energy and finance, which encourages the implementation of energy expansionary policies for long‐run sustained finance and international tourism across countries. [ABSTRACT FROM AUTHOR]

This paper re-investigates the time-varying impacts of economic growth on carbon emissions in the G-7 countries over a long history. In doing so, the historical data spanning the period from the 1800s to 2010 (as constructed) for each country is examined using the time-varying cointegration and bootstrap-rolling window estimation approach. Unlike the previous environmental Kuznets curve (EKC) studies, using this methodology gives us avenue to detect more than one, two, or more turning points for the economic growth-carbon emissions nexus. The empirical findings show that the nexus between economic growth and carbon emission seems over a long history to be M-shaped for Canada and the UK; N-shaped for France; inverted N-shaped for Germany; and inverted M-shaped (W-shaped) for Italy, Japan, and the USA. In addition, the possible validity of EKC hypothesis is examined for both the pre-1973 and post-1973 sub-periods. Based on this investigation, we found that an inverted U-shaped is confirmed only for the pre-1973 period in France, Italy, and the USA. These empirical evidences provide new insights to policy makers to improve environmental quality using economic growth as an economic tool for the long run by observing changes in the environmental impact of this growth from year to year. [ABSTRACT FROM AUTHOR]

Copyright of Electronic Turkish Studies is the property of Electronic Turkish Studies and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This paper examines the long run relationship between economic freedoms and income inequality in G-7 countries over the 2000–2015 period. The World Economic Freedom Index (EFW) that created by the Fraser Institute is one of the methods of measuring economic freedoms in a country. The EFW consists of five sub-indices: size of the government, legal system and property rights, sound money, freedom to trade internationaly and regulations. According to the results of this study, EFW increases income inequality in G-7 countries. However, all of the areas of economic freedom do not affect income inequality in the same direction. While freedoms in government size and legal system areas has increased the income inequality; freedoms in free trade to internationally, sound money and regulation areas reduce income inequality. [ABSTRACT FROM AUTHOR]

The study examined the long-run and causal relationship between international tourism receipts (ITR), social distribution, FDI inflows, and carbon (CO2) emissions to verify the different alternative and plausible hypotheses, i.e., environmental Kuznets curve (EKC) hypothesis, "pollution haven" hypothesis (PHH), and "resource efficiency" (REF) hypothesis, in a panel of Group of Seven (G-7) countries for the period of 1995–2015. The study employed panel random effect (RE) regression and panel causality test for robust inferences. The results show that ITR and FDI inflows increase CO2 emissions to verify PHH while government education expenditures (GEE) decrease CO2 emissions to substantiate the REF hypothesis across countries. The results validate the inverted U-shaped EKC relationship between CO2 emissions and economic growth (EG) with the turning point of US$30,900. In addition, GEE increase ITR while healthcare expenditures (HEXP) decrease ITR, which partially supported the REF hypothesis in a panel of countries. The impact of income inequality (INEQ) on ITR is positive at current time period while at later stages INEQ declines ITR that supported an inverted U-shaped relationship between them. The causality estimates confirm the bidirectional relationship between ITR and EG, while there is unidirectional casualty running from (i) ITR, EG, FDI inflows, and GEE to CO2 emissions, (ii) FDI inflows to ITR, (iii) GEE to EG, (iv) EG to social expenditures, (v) income inequality to health expenditures, (vi) social expenditures (SEXP) to ITR, and (vii) INEQ to ITR. There is no causal relationship found between ITR and EG during the study time period. The findings endorse the need for efficient resource spending, sustainable tourism (STR), and rational income distribution to improve environmental sustainability agenda in a panel of G-7 countries. [ABSTRACT FROM AUTHOR]

Copyright of Kastamonu University Journal of Economics & Administrative Sciences Faculty / Kastamonu Üniversitesi Iktisadi ve Idari Bilimler Fakültesi Dergisi is the property of Kastamonu University and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The aim of the article. Investment in stock market requires taking risk. Investors typically buy several stocks to create a portfolio which targets to maximize the return while keeping a certain level of risk. In today’s information-rich financial markets, one of the main challenges for individual investors in particular is to allocate the scarce sources appropriately within the wide range of investment alternatives that grouping the multiple assets based on their similar characteristics would be useful to take it out. In this paper, stock markets of the Group of 7 (G-7) countries consisting of France, United Kingdom, Germany, Italy, United States, Canada and Japan are examined over the period of 2011 and 2016 and some hierarchical clustering methods are applied on key indices namely, CAC 40 (France), FTSE 100 (UK), DAX (Germany), FTSE MIB (Italy), S&P TSX Composite (Canada), S&P 500 (USA), NIKKEI 225 (Japan) to identify the groups based on risk and return characteristics. The results of the analysis. Cluster analysis is an innovative and a very useful method to help make sense of data. In this paper, we investigated the Group of 7’s stock markets over the period of 2011 and 2016. The single linkage, complete linkage, average linkage, centroid and Ward’s hierarchical clustering methods are performed on widely followed stock market indices namely, CAC 40 (France), FTSE 100 (UK), DAX (Germany), FTSE MIB (Italy), S&P TSX Composite (Canada), S&P 500 (USA), NIKKEI 225 (Japan) to identify the groups based on risk and return characteristics. Conclusions and directions of further researches. Although, the differences exist at some stages, the all performed dendrograms, in this study, demonstrated that CAC 40 is merged with DAX whereas S&P 500 is merged with S&P/TSK Composite at the first stages. At the last stage, NIKKEI 225 is merged with the group of CAC 40, DAX, FTSE 100, S&P 500, S&P/TSK Composite and FTSE MIB for the studied period. Additionally, the k-means clustering is performed on means and standard deviations of daily returns. The analysis showed that CAC 40, DAX and NIKKEI 225 form a group; FTSE 100, S&P 500 and S&P TSK Composite form another group, and finally FTSE MIB itself form a group during the examined period. When twostep clustering is performed for k=3, CAC 40 and FTSE MIB form one group; DAX, NIKKEI 225 and S&P 500 form another group, and FTSE 100 and S&P TSK Composite form the third group for the related period. Results partly showed similarity by the study of [8] since the dendrograms which was obtained through the average linkage method.

This paper examines the impact of biomass energy consumption on CO2 emissions and the environmental Kuznets curve (EKC) hypothesis in G-7 countries. We also incorporate capitalization, financial development, and globalization measures (economic, social, and political) as additional determinants of CO2 emissions. This study covers the period of 1980–2014. We apply the generalized method of moments (GMM) for empirical analysis. The empirical results reveal that biomass energy consumption contributes to CO2 emissions. The EKC hypothesis is valid in G-7 countries. Capitalization is inversely linked with CO2 emissions. Financial development deteriorates environmental quality. Foreign direct investment (FDI) and trade openness improve environmental quality. Globalization increases CO2 emissions. Institutional quality improves environmental quality through effective economic and environmental policies. Urbanization impedes environmental quality. These results provide new insights for policy makers in designing comprehensive environmental policy by considering biomass energy as an economic tool for sustainable economic development and to improve environmental quality. [ABSTRACT FROM AUTHOR]

The importance of renewable energy consumption increasing day by day due to the current global economic costs of environmental pollution. This increasing importance also expose itself in the environmental economics literature. Especially during the last decade, the studies on environmental economics aimed to specify the long run determinants of renewable energy consumption. Conform with this tendency in the literature, the main purpose of this study is to investigate the long run relationship between financial development and renewable energy consumption for G-7 countries during 1991-2011. According to the empirical results of this study, there is a long run relationship exists between the renewable energy consumption, real gross domestic product (GDP), primary energy consumption, oil prices and financial development. The long run elasticity results of this study indicates that primary energy consumption, oil prices and financial development has a positive impact on renewable energy consumption. However, economic growth hasn't got any statistically significant impact on renewable energy consumption in the long run. PMG estimator findings reveal that renewable energy demand increases due to and increase in financial development. The empirical findings of this study shows that financial development is one the important triggers for the long run demand of environmental friendly energy sources. According these findings, to reach the goals of sustainable development, policy makers should design subsidy and tax policies that increase renewable energy demand of listed companies in financial system and they also should increase the public-private collaborative investment opportunities by legal regulations that supports the financial intermediation activities. [ABSTRACT FROM AUTHOR]

This paper aims to analyze the time-varying effects of renewable energy consumption on economic growth and vice versa for the G-7 countries. To this end, the historical decomposition method with bootstrap is utilized. The findings show that the effect of economic growth on renewable energy consumption is highly time-varying and strongly positive during the whole analysis period for Germany, Italy and the United States. Although the result is usually analogous in most periods for Canada, France, Japan and the United Kingdom, the contribution of economic growth on renewable energy consumption is reversed in some periods. Additionally, the effect of renewable energy consumption on economic growth shows remarkable time-variations for all the G-7 countries, but does not produce a consistent direction of effect over the entire analysis period. For Germany, Italy and the United Kingdom, renewable energy consumption appears to be a driving force for economic growth during nearly in the whole time period after early 1990s. [ABSTRACT FROM AUTHOR]

The quadrilateral relationship between information and communications technology (ICT), patent applications, research and development expenditures and specific growth factors examine to formulate the broad-based growth policies in the context of Group of seven (G-7) countries, over the period of 1995-2013. The ICT variables are explained by internet users, mobile cellular subscriptions and high-technology exports; while research and development (R&D) variables include R&D expenditures and researchers in R&D. Patent data is used to evaluate the amount of innovation undertaken in the G-7 countries and it comprises residential patent applicants and non-residential patent applicants. Finally, the study used three growth factors including GDP per capita, foreign direct investment (FDI) inflows and GDP per unit use of energy for appraising the growth reforms in the G-7 countries. The results show that there is a significant and positive relationship between high-technology exports and growth factors, while there is a negative relationship between residential patent applicants and per capita GDP (and FDI inflows). Non-residential patent applicants' increases GDP per capita while it decreases energy efficiency. Residential patent applicants' significantly increases energy efficiency in the region. There is a negative relationship between R&D expenditures and GDP per capita (and energy efficiency), while researchers involved in R&D activities significantly enlarge the per capita GDP and energy efficiency in the G-7 countries. The results of variance decomposition analysis confirmed the importance of ICT over the next 10 years period. The study concludes that R&D expenditures and innovation required strong policy vista in order to amplify the growth factors in the region. [ABSTRACT FROM AUTHOR]

This study aims to examine the relationship between energy consumption (i.e., oil, natural gas, and coal) and economic growth in G-7 countries. For this purpose, the annual data from 1970 to 2013 is investigated using with panel bootstrap causality approach that allows cross-sectional dependency and heterogeneity among countries. The results reveal that the oil consumption causes economic growth in Germany, Italy, Japan, and the United States; economic growth causes oil consumption in Germany and the United Kingdom; natural gas consumption causes economic growth in Italy, Japan, the United States, and the United Kingdom; economic growth causes natural gas consumption in Germany; coal consumption causes economic growth in Canada; and economic growth causes coal consumption in the United States. [ABSTRACT FROM AUTHOR]

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In this study, it is aimed to investigate the relationship between research and development (R&D) expenditures, foreign direct investment and economic growth over the period 1996-2011 in the sample of G-7 countries. In the empirical part of the study, Pedroni and Kao Cointegration Tests, Panel Granger Causality have been employed. It has been observed that the series are cointegrated in the long-run. As a result of the causality analysis, it is concluded that there is a unidirectional causality runs from foreign direct investments to R&D expenditures and to economic growth, there is a unidirectional causality runs from economic growth to R&D expenditures. [ABSTRACT FROM AUTHOR]

Investment in stock market requires taking risk. Investors typically buy several stocks to create a portfolio which targets to maximize the return while keeping a certain level of risk. In today’s information-rich financial markets, one of the main challenges for individual investors in particular is to allocate the scarce sources appropriately within the wide range of investment alternatives that grouping the multiple assets based on their similar characteristics would be useful to take it out. In this paper, stock markets of the Group of 7 (G-7) countries consisting of France, United Kingdom, Germany, Italy, United States, Canada and Japan are examined over the period of 2011 and 2016 and some hierarchical clustering methods are applied on key indices namely, CAC 40 (France), FTSE 100 (UK), DAX (Germany), FTSE MIB (Italy), S&P TSX Composite (Canada), S&P 500 (USA), NIKKEI 225 (Japan) to identify the groups based on risk and return characteristics. [ABSTRACT FROM AUTHOR]

• Examining COVID impact on dividends and share repurchases in the G-7 countries. • The scale of adjustments and the choice of payout channels vary across countries. • Corporate cash holdings helped mitigate the negative impacts of COVID on payout adjustments, but the impact was weaker for European firms. • Proposing that payout restrictions tied to COVID relief programs provided by governments may have contributed to differences across countries. This paper examines the impact of the COVID-19 pandemic on the adjustments of dividends and share repurchases of publicly listed firms in the G-7 countries. Firms in the United Kingdom, Germany, France, and Italy experienced a widespread cut in dividends, while firms in the United States and Canada cut cash payout more via share repurchases, with Japanese firms in between. Corporate cash holdings helped mitigate the negative impact of COVID on payout adjustments, but the impact was less significant for European firms. [ABSTRACT FROM AUTHOR]