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1 – 8 of 8Oliver N. Butty, Mehdi Seraj and Hüseyin Özdeşer
This study aims to examine whether energy poverty impacts gender inequality and CO2 emissions in African countries with the biggest economies by gross domestic product (GDP) per…
Abstract
Purpose
This study aims to examine whether energy poverty impacts gender inequality and CO2 emissions in African countries with the biggest economies by gross domestic product (GDP) per capita from 1996 to 2020. Additionally, this study examines the existence of the gender Kuznets curve (GKC) and the environmental Kuznets curve (EKC) theories. Furthermore, it evaluates the connection between economic development and carbon emissions, on the one hand, and economic development and gender inequality on the other.
Design/methodology/approach
This study uses the augmented Dickey–Fuller and Phillip–Perron unit root tests to determine the degree of integration between the variables. It also uses the Pedroni and Fisher–Combine Johansen cointegration tests to assess a long-run relationship between the variables. The authors adopted the pooled mean group (PMG)-autoregressive distributed lag model and used the E-Views 12 software to run the analysis.
Findings
The empirical analysis approves the long-run correlation among the variables used in this study. Increased energy poverty and GDP increase CO2 emissions, whereas income square hurts CO2 emissions. These results are consistent with the EKC hypothesis, which proposes a non-linear relationship between CO2 emissions and economic growth in the studied areas (similar to an inverted U shape). Long-term foreign direct investment (FDI) has a negative correlation with CO2 emissions. On the contrary, energy poverty, GDPsq and FDI find a positive relationship with gender inequality, whereas GDP finds a negative association with gender inequality. The negative relationship between GDPsq and gender inequality establishes a “U”-shaped connection between income and gender inequality. Thus, it supports the hypothesis of the GKC. Therefore, this study proposes that decreasing energy poverty is vital for promoting a clean environment and mitigating gender inequality.
Originality/value
This study supports the hypothesis of the GKC. Therefore, this study proposes that decreasing energy poverty is vital for promoting a clean environment and mitigating gender inequality.
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Fawzia Mohammed Idris, Mehdi Seraj and Hüseyin Özdeşer
Renewable energy is at the forefront of countries’ concerns due to its global economic and environmental impacts. Previous studies have thoroughly examined the impact of renewable…
Abstract
Purpose
Renewable energy is at the forefront of countries’ concerns due to its global economic and environmental impacts. Previous studies have thoroughly examined the impact of renewable energy on overall national income, and this paper aims to shed light on an indicator that has received insufficient attention in research regarding its impact on economic growth, using data from 2000 to 2018.
Design/methodology/approach
This study examines the causal relationship between trade balance, renewable energy consumption and CO2 emissions per capita in Organization for Economic Cooperation and Development (OECD) countries using an auto regression distributed lag model (ARDL) and Johansen Cointegration Test.
Findings
The findings reveal that there is evidence of a long-run and short-run cointegrating relationship and that renewable energy consumption in the long run impacts the trade balance positively and in the short run negatively.
Originality/value
Therefore, bioenergy trade between countries and local investment should be prioritized to increase the trade balance surplus, since many of OECD countries suffer from deficit problems.
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Alhassan Turay, Mehdi Seraj and Hüseyin Özdeşer
The degree of responsiveness of fiscal and monetary policy mechanisms that promote growth and development in Sierra Leone is the subject of this article.
Abstract
Purpose
The degree of responsiveness of fiscal and monetary policy mechanisms that promote growth and development in Sierra Leone is the subject of this article.
Design/methodology/approach
This article uses both the Auto Regressive Distributed Lag (ARDL) model presented by Hashem and Yongcheol (1998) and the Non-Linear Auto Regressive Distributed Lag (NARDL) model by Shin et al. (2014) to analyze annual time-series data in evaluating the asymmetric effect of real gross domestic product (RGDP), inflation, government expenditure and money supply using annual time-series data for 40 observations over the period 1980–2019.
Findings
The augmented Dickey–Fuller unit root test shows that money supply, government spending and consumer price index are integrated at first difference I (1), while RGDP is stationary at level I (0). The results of the NARDL cointegration test indicate that the variables are cointegrated. The study shows that government expenditure is a positive function of both positive and negative changes. Hence, both positive and negative cumulative sum government expenditures improve economic growth but show a relative weak asymmetric effect with the regressand. This study also reveals that inflation is a negative function of both positive and negative changes with asymmetric effect with the dependent variable. This study shows that the positive change of money supply is statistically insignificant in boosting economic growth, while the negative change positively improves economic growth. Conclusively, this article shows that fiscal policy has a greater and more responsive than monetary policy in promoting growth and development in Sierra Leone. The result of the error correction term of the NARDL model shows a high spend of adjustment of 135% from any disequilibrium of GDP imbalance in the economy.
Originality/value
To address the problem of fiscal dominance in Sierra Leone, this study recommends that fiscal and monetary policies should be coordinated simultaneously and to an appropriate extent to achieve the desired outcome in growth and development.
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Fawzia Mohammed Idris, Mehdi Seraj and Huseyin Ozdeser
The purpose of this study is to find funding sources for social health insurance in Sudan to cover vulnerable families.
Abstract
Purpose
The purpose of this study is to find funding sources for social health insurance in Sudan to cover vulnerable families.
Design/methodology/approach
The concept of this paper is to look into the causality relationship between insured and directly paid poor people and their incomes through using the autoregressive distributed lag model (ARDL) and using a survey raw data carried out in 2010 in Sudan.
Findings
The findings show that insured vulnerable people and income-generating activities have a significant positive relationship. The results, on the other hand, show a marginally negative effect on income for those who have directly paid poor people.
Originality/value
Previous research on the position of zakat has focused primarily on its role in poverty alleviation and has given little consideration to its role in social security. This study is characterized by improving the possibility of changing the mechanism of distributing zakat funds in favor of health financing to maximize the benefit.
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Abraham Deka, Hüseyin Özdeşer and Mehdi Seraj
The purpose of this study is to verify all factors that promote renewable energy (RE) consumption. Past studies have shown that financial development (FD) and economic growth (EG…
Abstract
Purpose
The purpose of this study is to verify all factors that promote renewable energy (RE) consumption. Past studies have shown that financial development (FD) and economic growth (EG) are the major drivers toward RE development, while oil prices had mixed outcomes in different regions by different studies.
Design/methodology/approach
Global warming effects have been the major reason of the transition by nations from fossil fuel use to RE sources that are considered as friendly to the environment. This research uses the fixed effects and random effects techniques, to ascertain the factors which impact RE development. The generalized linear model is also used to check the robustness of the Fixed Effects and Random Effects models’ results, while the Kao, Pedroni and Westerlund tests are used to check cointegration in the specified model.
Findings
The major findings of this study show the importance of EG and FD in promoting RE development. Oil prices, inflation rate and public sector credit present a negative effect on RE development, while foreign direct investment does not significantly impact RE development.
Practical implications
This research recommends the use of FD in promoting RE sources, as well as the stabilization of oil prices and consumer prices.
Originality/value
This research is important because it specifies the three proxies of FD, together with foreign direct investment inflation rate, EG and oil prices, in modeling RE. By investigating the impact of oil prices on RE in the emerging seven economies, this research becomes one of the few studies done in this region, as per the authors’ knowhow.
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Mehdi Seraj, Cagay Coskuner and Abdulkareem Alhassan
The use of exchange rate policies to stimulate economic growth (EG) has been the major macroeconomic policy of many economies. Hence, the attention of researchers and policymakers…
Abstract
Purpose
The use of exchange rate policies to stimulate economic growth (EG) has been the major macroeconomic policy of many economies. Hence, the attention of researchers and policymakers was drawn to the effect of undervaluation and/or overvaluation of currencies on sustainable EG. However, less attention has been paid to the importance of quality of economic institutions in shaping the relationship between exchange rate and EG. This study aims to explore the role of institutions of exchange rate and EG in South Africa
Design/methodology/approach
This study, therefore, examines the role of economic institutions in the real exchange rate economic growth nexus by using auto regressive distributed lags model and vector error correction model for causality during the period 1971 to 2018. Also, Bayer and Hank method has applied for cointegration between the variables.
Findings
The findings show that both real exchange rate and economic institutions have a negative effect on EG in both short-run and long-run. This implies that undervaluation has a negative effect on EG in South Africa. Therefore, the study concludes that undervaluation has a negative effect on EG in South Africa particularly when the quality of economic institutions is accounted for. The finding supports the J-curve hypothesis but is contrary to the Rodrik hypothesis. Hence, devaluation is not a desirable exchange rate policy for the South African economy.
Originality/value
The study, therefore, recommends that developing countries like South Africa should focus on other viable exchange rate policies such as rather than undervaluation of currency to enhance EG.
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Ali Raza, Laiba Asif, Turgut Türsoy, Mehdi Seraj and Gül Erkol Bayram
This study aims to determine how changes in macroeconomic indicators and the housing prices index (HPI) are related. These factors can cause short-term and long-term changes in…
Abstract
Purpose
This study aims to determine how changes in macroeconomic indicators and the housing prices index (HPI) are related. These factors can cause short-term and long-term changes in the housing market in Spain.
Design/methodology/approach
The study used cointegrating regression, fully modified ordinary least squares and dynamic ordinary least squares methodologies. The models are trained using quarterly time series data for these parameters from 2010 to 2022. A comprehensive examination is conducted to explore the relationship between macroeconomic issues and fluctuations in the HPI.
Findings
The results indicate statistically significant short-run effects (p < 0.05) of economic growth, inflation, Spanish stock indices, foreign trade and the interest rate on HPI. The inflation variables, Spain’s stock indices, interest rate and monetary rate, have statistically significant long-run effects (p < 0.05) on HPI. The exchange rate, unemployment and money supply have no substantial impact on HPI in Spain.
Originality/value
The study’s findings significantly contribute to increased information concerning the level of investing activity in the Spanish housing sector. After conducting an in-depth study of both the long-run and short-run connections with HPI, the study proved to be highly effective in formulating appropriate policies.
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Minhaj Ali and Dervis Kirikkaleli
In order to achieve sustainable development objectives, safeguard the ecosystem, combat global warming and preserve biodiversity for a more sustainable and secure future, the…
Abstract
Purpose
In order to achieve sustainable development objectives, safeguard the ecosystem, combat global warming and preserve biodiversity for a more sustainable and secure future, the ecological footprint (EF) must be reduced. Therefore, embracing holistic methods, emphasizing renewable energy (RN) and environmental taxes (ET) is crucial. Therefore, the present study aims to capture the effect of ET and RN on EF in Germany.
Design/methodology/approach
To achieve this aim, the novel Fourier-based Autoregressive Distributive Lag (ADL) cointegration and the time and frequency-based connections among the variables are investigated in this work throughout the 1994–2021 time span using the wavelet analytic methods, including wavelet power spectrum (WPS) and wavelet coherence (WC) methods, respectively.
Findings
The study’s results express that (1) RN, ET and EF are cointegrated in the long run; (2) EF and RN have volatility; (3) RN use in Germany prevents environmental deterioration and (4) ET decreases EF.
Practical implications
The research findings imply that Germany needs rigorous environmental restrictions and enforcement of alternate energy sources for energy use plans and sustainable production objectives.
Originality/value
To the best of our knowledge, the effect of RN and ET on EF in Germany has not been comprehensively explored by using newly developed econometrics techniques and a single dataset. Therefore, the study provides important policy implementations for the German government and is also likely to open debate on the concept.
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