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Article
Publication date: 12 July 2022

Samet Gunay, Selma Kurtishi-Kastrati and Kristina Krsteska

This study aims to explore the impact of regional green economies and communities on global sustainability. This study attempts to show if the empirical results align with the…

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Abstract

Purpose

This study aims to explore the impact of regional green economies and communities on global sustainability. This study attempts to show if the empirical results align with the regional sustainable development policy and practices.

Design/methodology/approach

Empirical analyses are conducted through time-varying correlations, structural break tests and volatility modeling. As a public health indicator, the community variable is proxied by the daily COVID-19 cases.

Findings

According to the results, the US green economy and global sustainability relationship exhibit a greater variety than that of Europe and Asia regions. Volatility modeling reveals that green economies are significant variables for each region in accounting for the changes in global sustainability. Europe and Asia have the highest and lowest effects in this interaction, respectively. The results are consistent with the carbon emission statistics of the regions studied and the government’s efforts to promote sustainable development. Furthermore, this study supports the efforts of the European Union to tackle climate and environmental issues, as well as create a resource-efficient economy and truly prosperous society.

Originality/value

This study presents empirical findings concerning global sustainability by providing evidence from three regions. The outcomes on the extent of regional contribution to global sustainability may lead the policymakers to develop new strategies in the management of turmoil periods such as a pandemic.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 17 no. 6
Type: Research Article
ISSN: 1750-6204

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Article
Publication date: 30 December 2020

Samet Gunay, Gökberk Can and Murat Ocak

This study aims to examine the effect of the COVID-19 pandemic in comparison to the global financial crisis (GFC) on the gross domestic product (GDP) growth rate of China.

1984

Abstract

Purpose

This study aims to examine the effect of the COVID-19 pandemic in comparison to the global financial crisis (GFC) on the gross domestic product (GDP) growth rate of China.

Design/methodology/approach

Empirical analyses are conducted through alternative methods such as ordinary least squares, Markov regime switching (MRS) and mixed data sampling (MIDAS) regressions. The flexibility of MIDAS regression enables us to use different variables with quarterly (GDP), monthly (export sales and foreign-exchange reserves) and daily frequencies (foreign exchange rates and Brent oil price).

Findings

The results indicate that the COVID-19 pandemic has had a considerable negative effect on China’s GDP growth, while the dummy variables used for the GFC are found to be insignificant. Further, the forecast accuracy test statistics exhibited a superior performance from MIDAS regression compared to the alternative models, such as MRS regression analysis. According to the forecast results, the authors expect a recovery in China’s economic growth in the second quarter of 2020.

Originality/value

This is one of the earliest studies to examine the effect of the COVID-19 pandemic on the Chinese economy, and to compare the impact of COVID-19 with the GFC. The authors provide further evidence regarding the performance of MIDAS regression analysis vs alternative methods. Findings obtained shed light on policymakers, corporations and households to update their consumption, saving and investment decisions in the chaotic environment of this pandemic.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 14 no. 1
Type: Research Article
ISSN: 1754-4408

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