The Dynamic Nexus Between International Tourism and Environmental Degradation in Top Twenty Tourist Destinations: New Insights From Quantile-on-Quantile Approach.

Tourism is one of the important factors that can affect the environmental and economic situation of any economy. This study investigates the relationship between tourist arrivals and CO2 emission in the top 20 tourist destinations using data from quarterly observations from 1995 to 2018. A unique technique via quantile-on-quantile regression and Granger causality in quantiles was used. In particular, how the quantiles of tourist arrivals impact quantiles of CO2 emission was analyzed. The empirical results suggest a combination of both positive and negative effects of tourist arrivals and CO2 emission in most tourist destinations. Predominantly, at both high and low tails, in the USA, Spain, Hong Kong, and Austria, tourist arrival has a positive effect on CO2 emission, whereas in the case of Canada, France, Germany, Mexico, and Malaysia, the association was negative. On the other hand, China, Greece, Russia, Japan, Italy, South Korea, Thailand, and Turkey have both positive and negative effects of tourism on CO2 emissions at low and high tails. Tourism can be an important factor while formulating policy for environmental and climate aspects.

How ICT and globalization interact with the environment: a case of the Chinese economy.

An era of rapid changes in the technological and economic aspects of developing and developed countries can have detrimental extortions on the environment around the world. From the perspective of globalization, the rapid development and growth can reroute to enhance the interaction between people, organizations, and countries across the globe including China through the usage of information and communication technology which in turn contributes to the economic growth of one side, whereas on the other side, it affects the environmental quality. Referring to this aspect, this study is focused to inspect the link between information and communication technology, and globalization with the facets of degradation in the environment that as CO2 emission and ecological footprint by keeping the view of economic growth prospects as well via using the EKC hypothesis. In our study, time-series data was employed from 1987 to 2020 for China using the Dynamic ARDL approach. Grounded on the findings of the study, economic growth from the sight of GDP fallouts in rising the emission of CO2 and EFP in the short and long run whereas GDP sqr cause decrease in the CO2 emission and EFP. Thus, this authorizes the presence of inverted U-shaped existence among GDP sqr, CO2 emission, and EFP. Therefore, this provides provision for the EKC hypothesis in China. Furthermore, ICT and globalization cause a decline in the emission of CO2 and EFP in the short and long run respectively. In combatting challenges linked to the environment, globalization, as well as ICT, is seen as a crucial factor based on the pieces of evidence in our study while the policy implications are also proposed in the paper.

The role of natural resources, renewable energy, and globalization in testing EKC Theory in BRICS countries: Method of Moments Quantile.

This paper aims to validate the EKC hypothesis for BRICS countries, in the presence of natural resources, renewable energy, and globalization factors. FMOLS, DOLS, Method of Moments Quantile Regression (MMQR), and heterogeneous panel causality tests have been applied on the BRICS panel from 1990 to 2014. According to FMOLS and DOLS techniques, the EKC hypothesis does exist in BRICS countries in the presence of alternative energy resources and globalization, whereas quantile level analysis does not support globalization as a significant factor for environmental degradation. Quantile regression validates the EKC hypothesis with a direct association of natural resources and inverse association of renewable energy with environmental degradation. Heterogeneous panel causality also confirms the bidirectional Granger causality between all the variables and CO2, except globalization, which means that panel causality is endorsing the results of MMQR. Thus, it is recommended to encourage the usage of renewable energy resources in BRICS countries.

Nonlinearity in the relationship between COVID-19 cases and carbon damages: controlling financial development, green energy, and R&D expenditures for shared prosperity.

The world faces a high alert of coronavirus disease 2019 (COVID-19), leading to a million deaths and could become infected to reach a billion numbers. A sizeable amount of scholarly work has been available on different aspects of social-economic and environmental factors. At the same time, many of these studies found the linear (direct) causation between the stated factors. In many cases, the direct relationship is not apparent. The world is unsure about the possible determining factors of the COVID-19 pandemic, which need to be known through conducting nonlinearity (indirect) relationships, which caused the pandemic crisis. The study examined the nonlinear relationship between COVID-19 cases and carbon damages, managing financial development, renewable energy consumption, and innovative capability in a cross section of 65 countries. The results show that inbound foreign direct investment first increases and later decreases because of the increasing coronavirus cases. Further, the rise and fall in the research and development expenditures and population density exhibits increasing coronavirus cases across countries. The continued economic growth initial decreases later increase by adopting standardized operating procedures to contain coronavirus disease. The inter-temporal relationship shows that green energy source and carbon damages would likely influence the coronavirus cases with a variance of 17.127% and 5.440%, respectively, over a time horizon. The policymakers should be carefully designing sustainable healthcare policies, as the cost of carbon emissions leads to severe healthcare issues, which are likely to get exposed to contagious diseases, including COVID-19. The sustainable policy instruments, including renewable fuels in industrial production, advancement in cleaner production technologies, the imposition of carbon taxes on dirty production, and environmental certifications, are a few possible remedies that achieve healthcare sustainability agenda globally.

How precious metal and energy resources interact with clean energy stocks? Fresh insight from the novel ARDL technique.

To boost the stability of economic and financial aspects along with the apprehensions for sustainability, it is important to promote the development of clean energy stocks around the globe. In the current research, the researchers have examined the impact of oil prices, coal prices, natural gas prices, and gold prices on clean energy stock using the autoregressive distribution lag (ARDL) approach from the year 2011 to the year 2020. The result of daily data analysis specifies that in the long as well as in the short run, gold prices, oil prices, and coal prices have a positive and significant effect on clean energy stock. On the other side, natural gas prices in the long as well as in the short run have a negative and significant effect on clean energy stock. So, the empirical analysis of our study is of interest to investors at an institutional level who aim at detecting the risk associated with the clean energy market through proper financial modeling. Besides, this study opens up a new domain to sustain financial as well as economic prospects by protecting the environment through clean energy stock as the investment in clean energy stocks results in producing a substantial effect on the economy and the environment as well.

The impact of coal combustion, nitrous oxide emissions, and traffic emissions on COVID-19 cases: a Markov-switching approach.

The severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) spread to more than 200 countries with a current case fatality ratio (CFR) of more than 2% globally. The concentration of air pollutants is considered a critical factor responsible for transmitting coronavirus disease among the masses. The photochemical process and coal combustions create respiratory disorders that lead to coronavirus disease. Based on the crucial fact, the study evaluated the impact of nitrous oxide (N2O) emissions, coal combustion, and traffic emissions on COVID-19 cases in a panel of 39 most affected countries of the world. These three air pollution factors are considered to form a lethal smog that negatively affects the patient's respiratory system, leading to increased susceptibility to coronavirus worldwide. The study used the Markov two-step switching regime regression model for obtaining parameter estimates. In contrast, an innovation accounting matrix is used to assess smog factors' intensity on possibly increasing coronavirus cases over time. The results show that N2O emissions, coal combustion, and traffic emissions increase COVID-19 cases in regime-1. On the other hand, N2O emissions significantly increase coronavirus cases in regime-2. The innovation accounting matrix shows that N2O emissions would likely have a more significant share of increasing coronavirus cases with a variance of 33.902%, followed by coal combustion (i.e., 6.643%) and traffic emissions (i.e., 2.008%) over the time horizon. The study concludes that air quality levels should be maintained through stringent environmental policies, such as carbon pricing, sustainable urban planning, green technology advancement, renewable fuels, and pollution less accessible vehicles. All these measures would likely decrease coronavirus cases worldwide.

Moving towards sustainability: how do natural resources, financial development, and economic growth interact with the ecological footprint in Malaysia? A dynamic ARDL approach.

Without enhancing the quality of the environment, the goals of sustainable development remain unachievable. In order to minimize the damage to the planet, sustainable practices need to be considered. This study is conducted to identify some of the drivers behind the increasing sustainability issues and tried to investigate the impact of natural resources, financial development, and economic growth on the ecological footprint in Malaysia from the year 1980-2019 by utilizing the dynamic simulated autoregressive distribution lag approach. It was identified that financial development, economic growth, and natural resources are the determinants behind the upsurge of the ecological footprint as all three show a positive and significant effect on ecological footprint. However, in the long run, the presence of the Environmental Kuznets Curve hypothesis was also validated in Malaysia. Therefore, it is recommended to increase awareness among the public regarding the adoption of sustainable practices in everyday life and to use green technologies that offer maximum efficiency and minimum damage to the environment in commercial and domestic activities. Finally, based on the research results, a comprehensive policy framework was proposed which could allow the Malaysian economy to attain the objectives of Sustainable Development Goals (SDGs) 7, 8, and 13.

Does globalization affect the green economy and environment? The relationship between energy consumption, carbon dioxide emissions, and economic growth.

This study analyzes the relationship between globalization, energy consumption, and economic growth among selected South Asian countries to promote the green economy and environment. This study also finds causal association between energy growth and nexus of CO2 emissions and employed the premises of the EKC framework. The study used annual time series analysis, starting from 1985 to 2019. The data set has been collected from the World Development Indicator (WDI). The result of a fully modified ordinary least square (FMOLS) method describes a significantly worse quality environment in the South Asian region. The individual country as Bangladesh shows a positively significant impact on the CO2 emissions and destroys the level of environment regarding non-renewable energy and globalization index. However, negative and positive growth levels (GDP) and square of GDP confirm the EKC hypothesis in this region. This study has identified the causality between GDP growth and carbon emission and found bidirectional causality between economic growth and energy use.

Striving towards environmental sustainability: how natural resources, human capital, financial development, and economic growth interact with ecological footprint in China.

On the economic side, China has attained rapid development; yet, the ecological aspects pose threats to its sustainable development. The nexus between economic growth, natural resources, human capital, and financial development has an important inference for the environment, and therefore, this endeavor examines the influence of said variables on the ecological footprint in China via adopting the novel dynamic simulated ARDL approach by utilizing the data from 1985 to 2018. The outcomes of the analysis confirm that natural resources and financial development have a considerable positive short- and long-run relation with the ecological footprint. Besides, this depicts that natural resources and financial development lead to an upsurge in ecological footprint in China. Furthermore, human capital also upsurges the negative influence on the environment. Economic growth also upsurges the ecological footprint; however, the outcomes also yielded an interesting insight lending credence to the existence of the environmental Kuznets curve in China. So, it is important to offer awareness sessions to the community as well as to human resources working in different sectors regarding the significance of sustainability by giving training related to the reduction of the excessive consumption of scarce resources. Moreover, a watchful deliberation must be given while implementing strategies about sustainability concerning the specified factors and their potential impact on ecological footprints so that the targets of Sustainable Development Goals 7, 8, and 13 could be accomplished by the Chinese economy.

A step towards environmental mitigation: Do tourism, renewable energy and institutions really matter? A QARDL approach.

Adverse changes in environmental conditions due to unprecedented industrialization have been attracting the attention of policymakers, researchers, and activists. For developing nations like Pakistan, sustainability issues become even more severe because of unplanned growth and lack of resources. In this study, we have applied the QARDL model to analyze the impact of renewable energy, institutional quality, tourism, and GDP on the ecological footprint in Pakistan from 1995 to 2017. The results of this study suggest that increased utilization of renewable energy and tourism improve the environment in Pakistan, whereas institutional quality and GDP are positive and significant at all quantiles, revealing that upsurge in GDP and institutional quality are directly related to environmental conditions at all the quantiles. These results also validate the presence of the Environmental Kuznets Curve in Pakistan. The government of Pakistan can play a notable part in attaining sustainability by efficient management of the environment through promoting sustainable tourism, utilization of renewable energy, and enhancement of institutional quality.

The role of financial development, R&D expenditure, globalization and institutional quality in energy consumption in India: New evidence from the QARDL approach.

The aim of this research is to explore the association between financial development, research and development (R&D) expenditures, globalization, institutional quality, and energy consumption in India by using the quarterly data of 1995-2018. Quantile Autoregressive Distributed Lag (QARDL) approach is employed to examine the relationship. An application of the QARDL approach suggests that the R&D, financial development, globalization, and institutional quality significantly influence energy utilization in India. R&D and institutional quality have a negative effect on energy utilization which shows that due to the increase in the quality of institutions and R&D in the country, energy utilization is likely to decrease. However, globalization and financial performance have a positive influence on energy which depicts that due to the increase in financial performance and globalization in India the energy consumption is likely to increase. According to the outcomes of this research, India should make a policy to ease the penalties of energy utilization by monitoring resource transfer by means of globalization and by implementing energy conversation procedures through the advancement of the financial sector.

Caring for the environment: How human capital, natural resources, and economic growth interact with environmental degradation in Pakistan? A dynamic ARDL approach.

Sustainability concerns are increasing globally. Besides, in Pakistan, these concerns are increasing day by day due to lack of education as well as redundancy among human capital, depletion of natural resources and economic growth can lead to pose severe threats to the environment. To address this concern, this study examines the phenomena that in what way natural resources, human capital, and economic growth affect two important indicators i.e., ecological footprint and carbon emission in Pakistan from 1985 to 2018 by using the dynamic autoregressive distribution lag (DARDL) approach. The outcomes of the analysis indicate that in the long run human capital and natural resource has a negative link with carbon emission whereas economic growth has a positive link with carbon emission. On the other side, in the short run, human capital and economic growth have a positive link with carbon emission while natural resources have a negative link with carbon emission. Moreover, in the long and short-run human capital and economic growth has a positive link with ecological footprint whereas natural resources have a negative link with the ecological footprint. However, the results of this study also revealed the presence of the environmental Kuznets curve (EKC) in Pakistan. Moreover, creating awareness among the citizens together with governmental regulatory pressures might help in solving the problems related to the environment resulting in preserving the sustainability of future generations in Pakistan.

The step towards environmental mitigation in Pakistan: do transportation services, urbanization, and financial development matter?

This study is a scholarly effort to broaden the existing literature on the impact of transportation services, urbanization, and financial development on ecological footprints in Pakistan. Data used in this study covers the period of 39 years from 1980 to 2018. This study adopted the QARDL model to tackle the non-linear association of variables and test their long-run stability across the different quantiles. The findings of this study indicated a significant negative association of transportation services and financial development with ecological footprints in Pakistan at almost all quantiles whereas, the urban population was found to be positively associated with the ecological footprint in Pakistan. Results also justify the existence of the EKC hypothesis in the scenario of Pakistan. Policymakers are advised to frame strategies for investors to invest more in eco-friendly projects to curtail the ecological footprints in Pakistan. Minimizing the dependency of the transportation sector on fossil fuel, and increased use of energy-efficient appliances in the urban population would be beneficial to control the negative influence on ecological footprints in Pakistan.

The asymmetric effect of tourism, financial development, and globalization on ecological footprint in Turkey.

With the growing interest among researchers in analyzing the ecological footprint of any country, this study focuses on new dimensions to analyze the long-run and short-run asymmetric impact of tourism, financial development, and globalization on ecological footprint in Turkey by using Quantile Autoregressive Distributed Lag model for the period from 1986 to 2018. Further, the EKC hypothesis was also tested. The results show that tourism, globalization, and financial development are positively and significantly associated with the EFP. This means that the increase in these variables will further increase the ecological footprint in Turkey. The U-shaped EKC curve was found to be valid in Turkey. The results also depict nonlinear and asymmetric association among most of the variables. Hence, based on the results, further research directions and practical implications can be suggested.

The asymmetric role of freight and passenger transportation in testing EKC in the US economy: evidence from QARDL approach.

This study examines the association between transportation services (i.e., passenger and freight) and carbon emissions concerning the US economy. The monthly data for this study were collected for the period from 2000 M1 to 2019 M8. In this study, QARDL econometric approach as discussed by Cho et al. (2015) has been used to tests the relationship between transportation services and CO2 emissions. Due to the chaotic and nonlinear behavior of our concerning variables, it was quite difficult to gauge the principle properties of their variations. Therefore, we relied on QARDL, which has been missing in previous researches. By utilizing the QARDL method, this research assesses the long-term stability of the nexus across the quantiles to provide an econometric framework that is more flexible than the traditional ones. In particular, the authors have analyzed how the quantiles of transportation (i.e., passenger and freight) influence the quantiles of CO2 emissions (environmental degradation). The empirical evidence revealed the negative significant relationship of both the transportation system (i.e., passenger and freight) with carbon emissions; however, this relationship holds at low quantiles of freight transport, whereas the same relationship has been observed at the majority of quantiles of passenger transport. So, this depicts that the transportation system of the USA helps to reduce CO2 emissions. Therefore, to maintain this situation, the government shall introduce more technologies that are fuel-efficient and promote clean consumption, thus reducing CO2 emissions, boosting economic growth, and making green transportation services.

The dynamic nonlinear influence of ICT, financial development, and institutional quality on CO2 emission in Pakistan: new insights from QARDL approach.

This novel research is an argumentative subject which was needed to be addressed and to fill this gap, the author examined the effect of financial development, information and communication technology, and institutional quality on CO2 emission in Pakistan by using quantile autoregressive distributed lag (QARDL) model. The data were obtained for the period from 1995Q1 to 2018Q4. In the long run, GDP and institutional quality have a positive impact on CO2 emission when this emission is already high, which shows that if the GDP and institutional quality increases, the CO2 emission also increases. Moreover, financial development and ICT has a negative impact on CO2 emission irrespective of emission level that whether it is high or low in the country, which shows that if financial enhancement and ICT increases, carbon emission decreases. The study also supported the EKC hypothesis in Pakistan.