The race to zero emissions: Can renewable energy be the path to carbon neutrality?

When taking into account the general terms on which the global green and low-carbon transition takes place, it can be affirmed that the use of clean and renewable energy, including wind, hydro, solar, etc., is an alternative to the traditional energy sources. The renewable energy industry possesses considerable potential, and has recently become the centre of the global energy landscape. Therefore, this article refers to the rolling-window Granger causality test, in order to explore the role of renewable energy (RE) in reducing the greenhouse gas emissions. By studying the interactions that take place between RE consumption and carbon dioxide (CO2) emissions, we find that the negative impact of RE on CO2 indicates that the replacement role of RE has become increasingly prominent, for it to effectively contribute towards the realization of carbon emission reduction. The results in this regard are consistent with the energy-environment model, suggesting that RE has an excellent performance in achieving carbon neutrality. In fact, CO2 usually exhibits a negative effect on RE, which indicates towards the predictability of environmental quality to the development potential of renewable energy. Carbon emission reduction has become a game of interest among the countries around the world. And hence, in relation to these turn of events in the last few decades, RE is now expected to usher in the required acceleration. While eventually it is believed that the green energy competition will reshape the geopolitics of the world.

Energy Consumption and Health Insurance Premiums in China's Provinces: Evidence From Asymmetric Panel Causality Test.

This article employs asymmetric panel causality test to address the causal nexus between energy consumption (EC) and healthcare insurance premiums (IP) for China's different provinces. The empirical results indicate that there exist asymmetric causality runs from positive EC shocks to positive healthcare IPs in Beijing, Hebei, Tianjin, Shanxi, Inner Mongolia, Shaanxi, Gansu, Qinghai, Ningxia, Shandong, Henan, and Anhui. There is no significant link in southern and northeastern provinces mainly because of their industrial structure, high economic development level, strong insurance consciousness, and climate conditions. Therefore, governments should encourage technological innovation and further improve energy efficiency. Meanwhile, we need to optimize EC structure and raise the proportion of renewable energies. The authorities should carry out stricter environmental protection policies and protect people from pollution that comes from fossil fuel burn. The commercial health insurance should be included in the health system and become an important supplement to public health insurance.

Do Health Expenditures Converge Among ASEAN Countries?

This paper aims to determine the existence of convergence in health expenditures among Association for South East Asian Nations (ASEAN) countries. Based on the SPSM procedure and panel KSS unit root test results, the public health expenditures (PUHE) in Indonesia, Lao PDR, Cambodia, the Philippines, and Myanmar are converging, while that of Brunei Darussalam, Malaysia, Vietnam, Singapore, and Thailand are diverging. In addition, the sequences of private health expenditures (PRHE) in ASEAN member states are stationary, which implies convergence. This finding is in accordance with Wagner's law, that is, as nations develop, they are forced to expand public expenditure. Specifically, countries with low levels of PUHE tend to catch up with the high health spending countries. This research has policy implications with regard to the convergence of health expenditure across countries. The government in low- and lower-middle income countries should raise PUHE to provide access to health services for those who are unaffordable individuals.

Testing for multiple bubbles in the copper price: Periodically collapsing behavior.

This study investigates whether multiple bubbles exist in the copper price on the basis of the Generalized Supremum Augmented Dickey-Fuller (GSADF) approach (Phillips et al., 2013). This technique delivers date-stamping strategies for the emergence as well as collapse of explosive bubble episodes and is best suited for practical application to time series. The results reveal that four explosive bubbles are detected over the period of 1980-2019 when copper price deviates from fundamental value. Besides, this finding is in accordance with the asset pricing model (Gürkaynak, 2008), which generally considers both fundamental and bubble components in the presence of asset prices. Based on the empirical results, the multiple emergence and collapse of multiple price bubbles are attributed to speculation, depreciation of the U.S. dollar, an imbalance between supply and demand, and financial crises. Policymakers should actively recognize bubble episodes and monitor their evolution, which could be conducive to achieving the effective stabilization of the international copper price. To reduce excess price fluctuations and explosive copper bubbles, authorities should impose restrictions on excessive speculative behaviors under extreme market conditions.

The asymmetric effect of air quality on cross-industries' stock returns: evidence from China.

This paper offers a perspective for the link between air quality and stock returns in China through quantile Granger causality test. Compared to previous studies, the study makes the following innovations. Given the Chinese government plays an important role in economic development, its industrial policies are regarded as a new indispensable supplement of analysis framework apart from investor mood. Next, due to different reflections from cross-industries for different AQ levels, the industry heterogeneity is further considered. Also, nine industries are chosen as a sample, including environmental protection, wind power equipment, steel, photovoltaic equipment, thermal power, tourism, coal, medical service, and medical equipment. Besides, the quantile Granger causality test is robust to misspecification errors when detecting the potential dependence structure between the variables of air quality and stock returns. The empirical results show that the causal link exists in all industries, except medical service. Meanwhile, this impact presents asymmetrical features that when air quality is unhealthy, it has an influence on stock returns of the remaining eight industries. It can be explained by increasing cortisol level, more stringent environmental protection, and industrial policies. These conclusions have essential implications for market participants due to the fact that air quality generates various influences on the stock market. That is why a sustainable environmental design, strict regulatory framework, and special monitoring activities should be highly regarded in China.