Investigating the impact of import, export, and innovation on carbon emission: evidence from Belt and Road Initiative countries.

Carbon emissions are a major cause of global climate change. The public is aware that the world must rapidly reduce its windows to avoid the worst effects of climate change. But how this responsibility is distributed between regions, countries, and individuals has become a recurring element of debate in international debates. Most countries are willing to adopt new policies to tackle the global problem of carbon emission. Since China is a real model and the first country of initiating the goal of carbon neutrality, this study aimed to compare the different impacts of export, import, and innovation on carbon emission in 29 selected countries with the Belt and Road Initiative from 2008 to 2019. STIRPAT modeling, cross-sectional analysis, and integrated testing were used to analyze the obtained data. The results show that exports and imports have a negative effect on carbon emission, and population size and energy efficiency increase carbon emission since most countries under the BRI are developing countries, and they tend to emit greatly due to various factors. However, the adoption of green energy via innovation has a significant impact on carbon emissions. In addition, the adoption of modern technologies via innovation reduces carbon emission by increasing energy efficiency. We recommended a set of policies that can efficiently reduce the emission of carbon to achieve an eco-friendly environment in the selected countries. It is important to promote environmental sustainability and the development of professional enterprises in certain countries.

The impact of low-carbon city pilot policy on green total-factor productivity in China's cities.

Whether the low-carbon city construction can coordinate urban economy and environment has attracted increasing attention in recent years. In this study, the impact of low-carbon city pilot (LCCP) policy on urban green total-factor productivity is systematically examined theoretically and empirically. Specifically, the biennial Malmquist-Luenberger (BML) index is adopted to measure urban green productivity. Then, propensity score matching-difference-in-differences (PSM-DID) and spatial DID model are used to quantitatively identify the local and spatial spillover effect of the LCCP policy on urban green productivity during 2004-2018 in China. The results show that (1) The LCCP policy can significantly promote urban green productivity, as confirmed through a series of robustness tests. (2) For transmission mechanism, the LCCP policy can enhance urban green productivity through energy consumption reduction and technological innovation but not through industrial structure optimization. (3) With regard to heterogeneity, cities with better transportation infrastructure, stricter environmental regulation and higher urbanization level, as well as non-resource-based cities have more significantly positive effects of the LCCP policy on urban green productivity. (4) The LCCP policy mainly relies on technological progress rather than technical efficiency improvement to drive urban green productivity. (5) The LCCP policy's effect on urban green productivity has significant positive spatial spillover feature, which can significantly promote green productivity in both pilot cities and their neighboring cities. Our findings can provide valuable insights for low-carbon city construction to promote urban sustainable development in China.

Green finance, fintech and environmental protection: Evidence from China.

This paper is one of the first to offer a comprehensive analysis of the impact of green finance related policies in China, utilizing text analysis and panel data from 290 cities between 2011 and 2018. Employing the Semi-parametric Difference-in-Differences (SDID) we show that overall China's green finance related policies have led to a significant reduction in industrial gas emissions in the review period. Additionally, we found that Fintech development contributes to the depletion of sulphur dioxide emissions and has a positive impact on environmental protection investment initiatives. China is poised to be a global leader in green finance policy implementation and regulators need to accelerate the formulation of green finance products and enhance the capacity of financial institutions to offer green credit. While minimizing the systemic risk fintech poses, policy makers should encourage fintechs to actively participate in environmental protection initiatives that promote green consumption.

Evaluating the environmental effects of economic openness: evidence from SAARC countries.

This study investigates the possible environmental effects of economic openness, such as economic growth, foreign direct investment (FDI) inflows, and trade liberalization in South Asian Association for Regional Cooperation (SAARC) countries. The study employed panel autoregressive lag distribution (ARDL) model to evaluate the environmental effects of economic openness; causality test was also conducted to confirm short- and long-run causality among the variables under discussion. The results show that trade, FDI, capital, and economic growth in the long run have a positive correlation with environmental degradation in SAARC countries while FDI, capital, and trade inflows have a negative relation with CO2 emissions in the short run. Furthermore, economic growth by creating new job opportunities improved emissions also in the short run. FDI, trade, capital, and GDP have long-run causality with CO2 emissions. Bidirectional causality was found between GDP and CO2 emissions, unidirectional causality was also running from FDI inflows to economic growth, unidirectional causality running from capital to FDI and trade to capital. Finally, trade and economic growth also have unidirectional causality in the short run. This study concludes, therefore, that SAARC countries should invest in green energy and promote green trade liberalization.

How does natural resource dependence affect public education spending?

The "resource curse" phenomenon has been the subject of extensive research, with its causes and transmission mechanisms primarily examined from the perspectives of economic development and rent seeking. Education is a major factor contributing to economically sustainable development, owing to its potential for improving cognition and skill levels and thereby enhancing worker productivity. The crowding-out or crowding-in effect of natural resource dependence on public education spending has been identified as one of the key mechanisms of the resource curse or blessing. Using panel data from 31 Chinese provinces, this empirical study revealed a positive correlation between natural resource dependence and public education expenditure, demonstrating the impact of the crowding-in effect, exerted by natural resource dependence, on public education expenditure. Abundant natural resources can provide funds for education expenditure. The sample was further divided into eastern and central and western regions. The results indicate that the crowding-out effect of natural resource dependence only affects public education expenditure in the Eastern region, while the crowding-in effect of natural resource dependence on public education expenditure in the central and western regions. Research shows that the regional differences of crowding-out or crowding-in effect are very obvious, so the government should adopt transfer payment to promote balanced regional development. Better economic and social policies will help to translate wealth from natural resources into economic growth. Thus, a "resource blessing" may emerge to replace the "resource curse." Fairly distributed and higher quality education will enhance human capital, thereby promoting economic growth from its current resource-driven pattern to a knowledge-driven pattern.