Suchergebnisse

AbstractIn this study, we re‐examined the pollution haven and halo hypotheses in Brazil for approximately five decades (1970–2019) while controlling for the effects of income, renewable energy and natural resource depletion. For clearer insights, the study employed both the conventional autoregressive distributed lag (ARDL) and the enhanced kernel regularized least squares (KRLS) techniques. Notably, the KRLS is a flexible machine learning nonlinear analytical technique that explains the interactions of the regressand and the regressors both at the average and across a range of quantiles. After ascertaining cointegration through the bounds tests and the Bayer–Hanck procedures, the following empirical outcomes emerged: The ARDL result suggests the acceptance of the pollution haven hypothesis in Brazil in both the short and long runs. However, the KRLS technique reveals that foreign direct investment (FDI) could enhance environmental quality (pollution halo) within the 25th quantile of the distributions of CO2 emissions. However, at the 50th and 70th quantiles, the pollution haven hypothesis is rectified. This suggests the adoption of varying policy options to ensure continuous inflows of FDI without compromising environmental quality. Additionally, among the control variables, a U‐shaped environmental Kuznets curve (EKC) structure is revealed from the influence of gross domestic product (GDP); renewable energy ensures a clean environment at all times, while resource rent ensures a clean environment only at the 25th and 50th quantiles of the distributions. Policies that could lead to clean environments in Brazil have been provided.

We re-examine the Pollution Haven and Pollution Halo hypotheses (PHEH and
PHALH) using a quantile-based Bootstrap Fourier Granger causality test, a
method adept at identifying non-linear structural breaks. Our study
encompasses data from China and the G3 countries (Japan, the UK, and the
USA) spanning the period from 1980 to 2020. Our empirical findings reveal
that data from the USA corroborates the PHEH, suggesting a trend where
increased foreign direct investment (FDI) aligns with higher environmental
degradation. In contrast, data from China affirms the PHALH, indicating that
FDI contributes to improved environmental standards. However, data from
Japan and the UK do not conclusively support either hypothesis. These
results have significant implications for governmental policy formulation in
China and the G3 countries, particularly in shaping FDI policies that align
with environmental sustainability goals.

The economic growth is one of the main drivers of pollution. Climate change caused by the increase in emissions has harmful and irreversible effects on economies as a whole. Currently, climate change represents a challenging issue for policymakers. This research intends to contribute to the current debate on the factors that contribute to reducing emissions, supplying empirical evidence of the role of environmental regulation in this process. In detail, this research aims to bridge a gap in the literature by giving special attention to the effects of market-based regulation, regulatory incentive policies for renewables deployment, and foreign direct investment on carbon dioxide emissions. To accomplish this objective, it uses yearly data from 1995 to 2017 for 17 European Union (EU) countries. To control for some possible endogeneity, and to study the short- and the longrun effects individually, an Autoregressive Distributed Lag (ARDL) model was used with a Driscoll-Kraay estimator. The main findings show that environmental regulation is effective in cutting CO2 emissions in the long-run. Additionally, the policies supporting renewable energy sources negatively affect CO2 emissions in both the short- and long-run. The effectiveness of these policies is further demonstrated, with foreign direct investment reducing carbon dioxide emissions, suggesting that the EU is managing to attract high quality and innovative investment. The pollution halo hypothesis was validated for EU countries. ; O crescimento económico é uma das principais causas da poluição. As alterações climáticas causadas pelo aumento das emissões têm efeitos prejudiciais e irreversíveis nas economias como um todo. Atualmente, as alterações climáticas representam um desafio para os formuladores de políticas. Esta pesquisa pretende contribuir para o debate atual sobre os fatores que contribuem para a redução das emissões, fornecendo evidências empíricas do papel da regulação ambiental nesse processo. Em detalhe, esta pesquisa visa preencher uma lacuna na literatura, dando especial atenção aos efeitos da regulação baseada no mercado, políticas regulatórias de incentivo à implementação de energias renováveis e investimento direto estrangeiro nas emissões de dióxido de carbono. Para atingir esse objetivo, foram utilizados dados anuais de 1995 a 2017 para 17 países da União Europeia (UE). Para controlar alguma possível endogeneidade e estudar os efeitos de curto e longo prazo individualmente, o modelo Autoregressive Distributed Lag (ARDL) foi usado com o estimador Driscoll-Kraay. As principais conclusões mostram que a regulação ambiental é eficaz no decréscimo as emissões de CO2 a longo prazo. Além disso, as políticas de apoio às fontes de energia renováveis afetam negativamente as emissões de CO2 no curto e no longo prazo. A eficácia dessas políticas é demonstrada ainda mais, uma vez que o investimento direto estrangeiro reduz as emissões de dióxido de carbono, sugerindo que a UE está a conseguir atrair investimento inovador e de alta qualidade. A hipótese pollution halo foi validada para os países da UE.

AbstractThis work aims to examines the effect of Chinese outward foreign direct investment (CoFDI), renewable energy, and energy intensity on CO2 emissions in 46 Belt and Road Initiative (BRI) nations divided into: Panel A, consisting of 16 European countries, and Panel B, comprising 30 Asian and MENA countries. This analysis used data from 2005 to 2018, applying second-generation econometric techniques. The empirical outcomes, obtained using Driscoll–Kraay methods, confirmed the pollution halo effect in Panel A, suggesting that FDI flows in these countries are environmentally friendly. In contrast, the results indicated a positive impact of CoFDI on CO2e in Panel B, supporting the pollution haven hypothesis that FDI may add to pollution. In addition, the study found an inverted-U-shaped association between per capita income and CO2e, validating the environmental Kuznets curve (EKC) hypothesis in both panels. The findings also revealed that energy intensity positively affects CO2e, whereas renewable energy has a significant negative effect in both panels, while the interaction terms of renewable and energy intensity are heterogenous in both panels. Based on these findings, the study recommends policy makers of these countries to attract clean FDI, particularly in renewable sectors, and shift from fossil fuel-based energy to renewable sources to control pollution by enacting energy-saving initiatives via lowering energy intensity.