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With regard to environmental degradation in Japan, the world's third-largest economy, limited studies have been performed to illustrate the ecological aspects of the country's core and recent economic policies such as globalization, technological innovation, and renewable energy usage policies. Given this motivation, this research reveals a new perspective on the connection between CO2 emissions and GDP growth, renewable energy, technological innovation and globalization in Japan by employing wavelet statistical tools. The paper employs series of wavelet tools for datasets covering the period from 1990Q1 to 2015Q4. The empirical outcomes demonstrate proof of the interaction between renewable energy use, economic growth, technological innovation, globalization and CO2 emissions in both time and frequency. The empirical results of the wavelet analyses reveal that globalization, GDP growth, and technological innovation increase CO2 emissions in Japan, while renewable energy usage mitigates CO2 in the short and medium terms. The results demonstrate the significance of implementing policies effectively coordinated by the policymakers to curb the significant environmental degradation in Japan. Moreover, Japan should actively support renewable energy development and create a more competitive climate for investment in the renewable energy market.

The present study explores the effect of renewable energy consumption and public-private partnership investment in energy on consumption-based carbon dioxide emissions for India from 1990Q1 and 2015Q4 whilst controlling technology innovation and economic growth. The study employs the Maki cointegration, Bayer-Hanck cointegration, fully modified ordinary least squares, dynamic ordinary least squares, and frequency-domain causality tests to explore these dynamics. The outcomes of the present study reveal that (i) there is a long-run cointegration equation between consumption-based carbon dioxide emissions and its possible determinants; (ii) whilst renewable energy consumption is beneficial for lowering consumption-based carbon dioxide emissions, public-private partnership investment in energy makes a positive contribution to consumption-based carbon dioxide emissions in the long-run; and (iii) public-private partnership investment in energy and renewable energy consumption also significantly causes consumption-based carbon dioxide emissions at different frequency levels in India. The present study recommends that policymakers in India should apply a series of policies to discourage the use of non-renewable energy and raise the share of renewable energy in order to reduce consumption-based carbon dioxide emissions in the country. The present study also recommends that public-private partnership investment in renewable energy should increase to achieve cleaner production processes.

It is globally acceptable that carbon dioxide (CO 2 ) emissions are one of the greenhouse gases are considered the main factor influencing global warming and environmental degradation. The present study focuses on China, the world’s largest carbon emitter. The study aims to capture the time-frequency dependency of economic growth and CO 2 emissions in China for the time period 1950–2016 using a wavelet coherence approach, which allows us to investigate both the long-run and short-run causal links of the estimated variables. In order to capture the long-run and causal linkage between economic growth and CO 2 emissions, the study employs Maki cointegration, wavelet coherence, Toda-Yamamoto causality, Fourier Toda-Yamamoto causality, and nonparametric Granger causality tests. The findings of this study reveal that (i) there is a significant vulnerability between economic growth and CO 2 emissions throughout the 2000s both the short-term and medium-term; (ii) there is long-run cointegration linkage between economic growth and CO 2 emissions in China; (iii) economic growth in China has an important power for predicting CO 2 emissions over the selected study period, especially in the short-term and medium-term; and (iv) it was observed that there is positive correlation between economic growth during the 1980s and 1990s in the short-term only. The outcome of the Toda-Yamamoto causality, Fourier Toda-Yamamoto causality, and nonparametric Granger causality tests underlines that economic growth is a robust policy variable for predicting CO 2 emissions in China.

The main aim of this paper is to explore the role of globalization on ecological footprint in Turkey while controlling energy consumption, economic growth, and trade openness. To achieve this objective, we employ dual adjustment approach. The main novelty of the dual adjustment approach is that the method offers another path to the cointegration analysis by relaxing the implicit assumption of the singular adjustment in cointegration analysis. The findings clearly reveal that (i) in the long run, globalization impacts ecological footprint positively and (ii) trade openness reduces ecological footprint in the short run, while ecological footprint is negatively affected by GDP growth in both the short and the long run. In terms of policy implications, this study suggests that in order to improve the environmental quality, Turkey should adopt such policies that encourage energy consumers to shift toward renewable energy. Moreover, the government should take necessary steps to diversify the overall energy mix toward renewable energy.

Over the last 50 years, urban population of Turkey has grown from 25 to 75%. Urbanization is highly linked with one of the most important global problems which is global warming through accelerating economic growth, energy consumption, and trade openness that are considered to be the main indicators of climate change in environmental literature. The main purpose of the present research is to examine the long-run effect of economic growth, energy consumption, trade openness, and urbanization on environmental degradation and causal link among the indicators under consideration in Turkey by taking into account the moderating role of urbanization over the period of 1960–2016. Aiming to establish robust findings, this study utilized both traditional and modern econometric techniques, including Bayer and Hanck cointegration, Gregory and Hansen cointegration, fully modified ordinary least squares (FMOLS) and dynamic ordinary least square (DOLS), Granger causality, Toda-Yamamoto causality, and Gradual Shift causality tests. The cointegration tests reveal that carbon dioxide (CO 2 ) emissions and economic growth, energy consumption, trade openness, urbanization, and the moderating role of urbanization are cointegrated. The outcomes of the long-run estimators—FMOLS and DOLS—reveals that environmental Kuznets curve (EKC) hypothesis is valid and the existence of moderating role of urbanization on indicators of CO 2 emissions is confirmed for the case of Turkey. Moreover, the causality tests mirror that while energy consumption, trade openness, and urbanization are important for predicting CO 2 emissions, the moderating role of urbanization leads CO 2 emissions in the short run.

This study provides new insight by introducing the role of fiscal decentralization and natural resources rent in affecting CO 2 emissions. For assessing this objective, this paper use panel data from seven highly fiscal decentralized Organization for Economic Cooperation and Development (OECD) countries from 1990 to 2018. For empirical analysis, we use the Westerlund test and cross-sectional autoregressive distributive lag model. In order to ascertain the integration order of variables, the study utilizes the Pesaran second-generation unit-root test. The findings reveal that all the variables are stationary at first difference. The long-run results confirm that fiscal decentralization and natural resources rent improve the atmosphere by reducing CO 2 emissions. Moreover, gross domestic product and total natural resources rent increase, while improvement in institutional quality reduces CO 2 emissions. For policy implication, this study recommends that transferring the power to the local governments will further reduce CO 2 emissions and shift these countries to more environmentally friendly sources.

This study aims to shed some light on the one of the most popular phenomena in the economics and finance literature—nexus between economic growth and financial development—for the case of Greece over 1990Q1 to 2018Q4 within the framework of risk. In other words, this study investigates the causal link between financial risk and economic risk in Greece using wavelet coherence tests while answering the following questions: (i) does financial risk lead to economic risk in Greece and/or does economic risk lead to financial risk in Greece, and (ii) if so, why? The wavelet coherence approach allows the study to capture the long-run and short-run causal linkages among the time series variables since the approach combines time and frequency domain causalities. The findings from wavelet coherence supports the Schumpeter hypothesis since the findings proves that there is unidirectional causality from financial risk to economic risk in Greece (i) between 1995 and 1998; (ii) between 2003 and 2013; (iii) between 2013 and 2017 at different frequency levels. The findings clearly reveal how financial risk is important predictor for economic risk in Greece over the period of 1990–2018.

In this paper, the time–frequency dependency of political risk as well as economic and financial risks is explored in Venezuela using quarterly data from 1984Q1 to 2018Q4. The present study uses the wavelet coherence technique, which allows the investigation of both the long and short-term causal relationships between political risk and economic and financial risks in Venezuela. The findings of this study indicate that: (i) significant vulnerabilities in political risk, economic risk, and financial risk are observed at different time periods and different frequency levels; (ii) political risk has a strong power for explaining economic risk from 1995 to 2005 in the long run, while between 1984 and 2010, economic risk and political risk are positively correlated at different frequency levels; (iii) in the long run, changes in political risk significantly lead to changes in financial risk in Venezuela.

The consequences of global trade on carbon dioxide emissions have been mainly investigated in several empirical papers; however, the consumption-based carbon emissions adjusted for international trade have been lacking in the literature. This empirical research seeks to address this gap by using consumption-based carbon emissions adjusted for trade in the case of Bolivia. Research over the years shows that Bolivia has had a consistent negative trade deficit which suggests that there might be a rise in consumption-based emission in this area in the present and the future. It also indicates that considerable emissions are attributable to the consumption of commodities and services transferred to Bolivia, which is beyond its control. Many studies, however, have delved into the production-based carbon emission for Bolivia. However, the consumption-based carbon emission adjusted for international trade has been missing in the case of Bolivia. Meanwhile, failure to recognize these emissions related to international trade produces an incomplete picture of the emissions triggers and the effectiveness of action to lessen emissions in this area. Hence, this study attempts to fill the gap. The impact of exports and imports are analyzed separately for 1970 to 2018. The empirical analysis confirms a negative effect of exports and GDP on consumption-based carbon emissions. In comparison, imports and globalization demonstrate a favorable impact on consumption-based carbon emissions and show their statistical significance. This study suggests that the Bolivia government should be cautious on policies targeted at increasing growth as this could be harmful to the sustainability of the environment.

The literature analyzing the ecological impacts of financial development (FD) documents mixed results. In addition, very limited researches consider the role of technological innovation in ecological sustainability even though technological innovation is indispensable to achieve technological advancement, which may help in sustainable development and ecological sustainability. Therefore, this work probes the effects of technological innovation, financial development, and economic growth (GDP) on the ecological footprint (EF) controlling urbanization and employing a STIRPAT framework. The analysis of data from West Asia and Middle East nations from 1990 to 2017 revealed cointegration in the model. The long-run coefficients produced by the continuously updated fully modified technique revealed that a 1% upsurge in technological innovation decreases EF by 0.010%. Interestingly, technological innovation is helpful to decrease EF and enhance economic growth in the West Asia and Middle East (WAME) countries. However, a 1% rise in FD boosts the level of EF by 0.0016% inferring that FD stimulates ecological degradation. Likewise, urbanization in the WAME countries raises EF levels and contributes adversely to ecological quality. In addition to this, the study revealed the environmental Kuznets curve hypothesis in the selected countries accounting for technological innovation, FD, and urbanization in the model. The causal analysis provided evidence of unidirectional causality from FD to EF and bidirectional causality between technological innovation and EF. The study recommends more investment in research and development and strong collaboration between the universities and industries to promote the level of technological innovation for both sustainable development and ecological sustainability. In addition, urban sustainability policies are necessary without decreasing the urbanization level.