Browsing by Author "Alam, Naushad"

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An Empirical Examination of the Environmental Sustainability-Influencing Mechanisms of Renewable Energy
(Springer, 2023-11-24) Yang, Qiming; Alam, Naushad; Alam, Mohammad Mahtab; Khudoykulov, Khurshid; Khan, Samiha; Murshed, Muntasir
Recognizing the environmental development-related commitments made by the Next Eleven countries at 26th Conference of Parties (COP26), this study scrutinizes the repercussions accompanying good democratic governance, renewable energy transition, economic growth, and the ratification of the Kyoto Protocol on carbon emission figures of these emerging nations. In this regard, the period of analysis considered spans from 1990 to 2018 while the econometric analyses involve application of both parametric and non-parametric panel data estimators. Among the key findings, firstly, the outcomes from the parametric estimation methods verify that establishing better democratic governance and undergoing renewable energy transition, both independently and jointly, curb carbon emission levels, while higher economic growth and the signing of the Kyoto Protocol are responsible for boosting emissions the Next Eleven countries. Secondly, the findings derived using the non-parametric methods reveal a great deal of heterogeneity when compared with the results obtained from the parametric analysis. Notably, better democratic governance is seen to reduce carbon emissions in less and moderately polluted. Next Eleven nations, while renewable energy transition curbs emissions only in the moderately and highly polluted ones. Additionally, these variables jointly inhibit emissions only in the Next Eleven nations that are moderately polluted. Besides, better democratic governance is observed to mediate the renewable energy transition-carbon emissions nexus only for the less-polluted Next Eleven nations, while the environmental impacts of economic growth and the signing of the Kyoto Protocol vary across different emission quantiles. Accordingly, relevant policies are recommended for helping the Next Eleven countries to comply with their pledges made at the COP26.
Can Financial Globalization and Good Governance Help Turning Emerging Economies Carbon Neutral? Evidence From Members of the BRICS-T
(Springer, 2023-01-05) Hashmi, Nazia Iqbal; Alam, Naushad; Jahanger, Atif; Yasin, Iftikhar; Murshed, Muntasir; Khudoykulov, Khurshid
Since turning carbon neutral is regarded as a major macroeconomic agenda worldwide, this study examines whether financial globalization and good governance can help Brazil, Russia, India, China, South Africa, and Turkey in achieving carbon neutrality. Considering the period of analysis from 2000 to 2020 and utilizing robust econometric methods, it is observed that the environmental consequences vary across different components of financial globalization. In particular, the results validate the pollution haven hypothesis by confirming the carbon emission-boosting effect of de facto financial globalization indicators. In contrast, the pollution halo effect hypothesis is verified by the finding of the carbon emission-abating effect of de jure financial globalization indicators. Besides, promoting good governance is evidenced to impose carbon emission-mitigating impact in the long-run. The findings also authenticate the existence of the Environmental Kuznets Curve (EKC) hypothesis for the emerging countries of concern. Finally, for both the short and long runs, it is found that the non-renewable to renewable energy transition contributes to lower discharges of carbon dioxide, while urbanization results in the amplification of the carbon emission figures. Considering these critically important findings, it is necessary for these countries to impose restrictions on the influx of unclean foreign direct investment, facilitate and ease the investment process for foreign investors for investing in environment-friendly projects, promote good governance, and adopt green economic growth and sustainable urbanization policies by developing their respective renewable energy sectors.
Drivers of Green Growth in the Kingdom of Saudi Arabia
(Springer, 2022-11-03) Abro, Asif Ali; Alam, Naushad; Murshed, Muntasir; Mahmood, Haider; Musah, Mohammed; Rahman, A K M Atiqur
The Kingdom of Saudi Arabia has recently declared its vision of turning carbon neutral by 2060. This declaration has motivated policymakers in this Arab nation to design policies that can green economic activities in Saudi Arabia so that environmentally sustainable growth can be ensured. Against this backdrop, this study models the independent and joint effects of financial development, globalization, and energy efficiency rates on green growth of the Saudi Arabian economy. In this regard, green growth in the Kingdom of Saudi Arabia is proxied by the difference between the nation’s annual per capita growth rates of gross domestic product and carbon dioxide emission. Utilizing data from 1972 to 2018 and controlling for structural break-induced problems found in the data, the findings from the regression and causality analyses confirm the green growth–inhibiting impacts of financial development and trade globalization. In contrast, greater financial globalization is evidenced to drive green growth in the Kingdom of Saudi Arabia. Furthermore, more efficient uses of energy resources are found to not only directly boost green growth but also partially neutralize the long-run green growth–dampening impacts associated with the development of the financial sector. In addition, financial development and trade globalization are observed to jointly inhibit green growth attainment both in the short and long run. In line with these important findings, it is recommended that the government of Saudi Arabia conceptualizes new green growth policies so that the nation’s annual per capita economic growth rate outpaces its annual per capita growth rate of carbon dioxide emissions.
Pathways Towards Environmental Sustainability
(Daffodil International University, 2022-02-10) Chishti, Muhammad Zubair; Alam, Naushad; Murshed, Muntasir; Rehman, Abdul; Balsalobre‑Lorente, Daniel
The traditional literature has explored various factors including, but not limited to, trade openness, financial development, energy consumption, foreign direct investment, globalization, and per capita income that significantly contribute to carbon emissions. However, the current study identifies aggregate domestic consumption spending as a novel driver of carbon dioxide, employing the data for the period of 1973-2018 in Pakistan. To this end, we develop the theoretical framework to illustrate the link between aggregate domestic consumption spending and carbon dioxide emissions and deploy autoregressive distributed lag (ARDL), asymmetric ARDL, and the threshold non-linear ARDL (NARDL) techniques. The results of the ARDL method suggest that only in the short run, aggregate domestic consumption spending significantly affects carbon dioxide emissions. Furthermore, the findings of the NARDL approach reveal that the positive and negative shocks significantly deteriorate and ameliorate the environmental quality by increasing and decreasing the pollution, respectively, in the short and long run. Even though the outcome of the threshold NARDL technique supports the results of the aforementioned approaches, the novelty of the current study is to find out the threshold in aggregate domestic consumption spending, which carries a significant role in determining the carbon emissions in both periods. Besides, we infer that fossil fuels energy and trade openness also degrade the Pakistani climate by boosting atmospheric pollution. Additionally, the application of the asymmetric Granger causality test validates the results by asserting the casual relationship between aggregate domestic consumption spending and carbon dioxide emissions. Based on the results, we suggest the authorities to start to promote the deployment of green products publicly to obtain green and sustainable development.
The Marginal Effects of Economic Growth, Financial Development, and Low-Carbon Energy Use on Carbon Footprints in Oman
(Daffodil International University, 22-06-07) Alam, Naushad; Hashmi, Nazia Iqbal; Jamil, Syed Ahsan; Murshed, Muntasir; Mahmood, Haider; Alam, Shabbir
Oman is committed to turning carbon neutral by 2040 whereby identifying the environmental sustainability-stimulating factors has become a critically important agenda for the nation. Against this backdrop, this study attempts to evaluate the marginal effects of economic growth, financial development, and low-carbon energy use on Oman's carbon footprint levels using quarterly frequency data spanning from 1984Q1 to 2018Q4. Controlling for structural break concerns in the data, the results from the empirical analysis verify the carbon footprint-related environmental Kuznets curve hypothesis for Oman in the long-run. In this regard, the threshold level of per capita real GDP level of Oman is predicted at around US $23,500 which is below the average and maximum per capita real GDP level of Oman during the period considered in this study. Besides, the development of the financial sector and scaling up consumption of low-carbon energy resources are evidenced to boost and curb Oman's short- and long-run carbon footprint figures, respectively. More importantly, the joint carbon footprint-mitigating impact of financial development and low-carbon energy use is also unearthed from the findings. In line with these major findings, a couple of relevant policy interventions are suggested to help Oman accomplish its 2040 carbon-neutrality agenda.