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Since developing countries experience economic and environmental sustainability challenges, it is desirable digging into the linkages between economic and environmental parameters. The purpose of this work is to evaluate the existence of the environmental Kuznets curve (EKC) theory (i.e., the inverse U-shape connection between real GDP per capita and per capita carbon dioxide emissions) in the sample of 11 developing countries. By using balanced annual panel data in the period between 1992 and 2014 and two alternative estimation techniques, we explored the potential inverted U-shaped linkage between carbon dioxide emissions and real GDP per capita in the sample of interest. For analysis purposes, Pedroni and Westerlund co-integration techniques are employed. Then, fully modified ordinary least squares, pooled mean group methods are applied for long-run parameter estimations. And, the Dumitrescu-Hurlin causality approach is employed for causal directions. Firstly, this work’s findings provide the supportive evidence to the inverse U-shaped linkage in the long-run, indicating that an increase in real GDP per capita and electricity consumption tends to mitigate long-run carbon dioxide emissions in the developing countries, for the whole sample. Secondly, the country-specific findings suggested the presence of EKC theory for Brazil, China, India, Malaysia, the Russian Federation, Thailand, and Turkey. It implicated that these countries are on the path of attaining environmental sustainability in the long-run. However, Mexico, Philippines, Indonesia, and South Africa failed to lend credence to the EKC theory. It manifested that these countries need to design strategies directed to reduce carbon dioxide emissions from economic activity and electricity generation through efficiency improvement or promotion of renewables. Finally, bidirectional causal links are observed among all the variables of interest. The findings suggest that country-specific targeted action plans should be implemented to ensure the environmental sustainability in the developing world.

Since the developed world’s economic prosperity has been heavily reliant on excessive fossil-based energy consumption, it has posed severe environmental quality challenges. This research attempts to revisit the relationship between income and anthropogenic emissions in the context of the environmental Kuznets curve (EKC) theory by considering electric power consumption, urbanization, and democratic accountability index in the Gulf Cooperation Council (GCC) region. It employs annual frequency panel data from 1990 through 2019 and three alternative advanced econometric estimation techniques. The main findings are as follows: Firstly , the EKC results for the whole sample strongly support the proposition of an inverse U-shaped connection between anthropogenic emissions and affluence in the long run. Secondly , the country-specific results confirm EKC only in Saudi Arabia and Bahrain, while the remaining countries demonstrate a U-shaped connection. Thirdly , the democratic accountability promoted anthropogenic emissions implying that it failed to contribute to environmental protection. It means that democratic setup in the GCC region performs poorly in accomplishing climate change mitigation and Sustainable Development Goals (SDGs). Fourthly , electric power consumption and urbanization impart positive and negative impacts on anthropogenic emission, respectively. These findings are found robust across the fully modified ordinary least square (FMOLS), bias-corrected LSDV (least squares dummy variable) (LSDV), and pooled mean group (PMG) estimators. Finally , Dumitrescu-Hurlin panel causality shows that (i) income and urbanization establish a two-way causality with the anthropogenic emissions. (ii) However, a unidirectional causal connection is revealed from electric power consumption and democratic accountability index to anthropogenic emissions. The findings suggest that the GCC region should prioritize environmental protection and SDGs across the political aims’ recipe since it would direct the region on the path of climate change mitigation.

This paper investigates the dynamic short-term and long-term relationships among real GDP per capita, energy consumption, urbanization, and carbon dioxide emissions within the framework of the environmental Kuznets curve (EKC) hypothesis for Southeastern Europe (SEE) from 1997 to 2014. The evidence highlights an inverted U-shaped nexus between real GDP per capita and carbon dioxide emissions (i.e., the EKC hypothesis is verified in the long-run in the sample as a whole). The short-run estimates provide evidence of inverted U-shaped EKC only for Greece and Moldova. Two-way causal relationship between urbanization and pollutant emission was also established in the short-run, as well as one-way causality flowing from real GDP per capita to pollutant emission. The coefficients with the real GDP per capita and energy consumption are negative and statistically significant in the long-term. These findings indicate the existence of an error correction mechanism that drives the observed variables back to their equilibrium. Moreover, the findings show that the consistent increase in energy consumption has not reduced environmental pressures.

The aim of this paper is to explore the potential link between gross capital formation and CO2 emissions by using the Toda and Yamamoto approach. The annual time-series data were collected for the period 1971-2014. Due to the fact that Kuwait aims to become a major trading hub by 2035, it has made significant efforts to improve the infrastructure. Moreover, Turkey is also making strong efforts to improve the manufacturing sector as well as infrastructure, and represents an important trading hub that links Europe with the Middle East. Thus, Turkey and Kuwait are expected to strengthen their economic ties and expand trade, which was the motivation for comparing the link of interest in these two countries. The study’s findings confirm the bidirectional links between all of the variables of interest not only in the case of Turkey but also in the case of Kuwait, suggesting some important policy implications.

Bu çalışma, potansiyel heterojenliği kontrol ederken, ekonomik özgürlük ve turizm endüstrisi arasındaki dinamik ilişkiyi araştırmaktadır. Yüksek düzeyde ekonomik özgürlük endeksi rapor eden ülkeler, işgücü piyasasının istikrarım artıran daha uygun bir iş ortamına sahip olma eğilimindedir. Sonuç olarak, turizm endüstrisi de dahil olmak üzere farklı sektörlerde daha fazla yatırım çekilebilir. Böylece ekonomik özgürlüğün turizm sektörünün gelişmesine neden olması beklenmektedir. Çalışmada, 2002-2015 dönemi boyunca 87 ülke için dengeli panel verileri toplanarak ilgi bağlantısı incelenmiştir. Metodoloji panel VAR modelini içermektedir. Bu çalışmanın bulguları, ekonomik özgürlükten turizm endüstrisine uzanan tek yönlü bir bağlantı olduğunu göstermektedir. Turizm endüstrisinin önemi göz önüne alındığında, hükümetlerin yabancı turistleri çekmek için önemli bir faktör olduğu için ekonomik özgürlüğü artırmak üzere gerekli değişiklikleri yapmaları gerektiğini önerilmektedir.

The purpose of this research article is to provide the fresh evidence on the link between energy consumption (ENE) and economic growth (GDP) while controlling for the impact of CO2 emissions (CO) in the case of GCC (Gulf Cooperation Council) countries. To conduct the empirical study we have employed the panel VAR methodology in the period 1980-2014. The results suggest that economic growth increases the energy consumption. However, the negative link between CO2 emissions and economic growth is reported, implying the great awareness of the GCC countries on the environmental problems connected with the fossil fuels based energy. Thus, there is a serious incentive in these countries to deal with the potential environmental issues. One of the good alternatives is renewable energy. In addition, the increase in the energy efficiency is considered to be an important task in the future.

This paper aims to explore the nexus between investment, economic freedom and economic growth in the sample of 35 OECD member states in the time span 1996-2015. The empirical methodology relies on the panel VAR model. The findings of trivariate model suggest a significant negative response of GFC to EFI. Investment is however found to respond positively to the improvements in real GDP per capita. With regard to GDP it is found to respond negatively to the GFC as well as EFI. Lastly, economic freedom is found to respond negatively to GFC but positively to GDP. IRFs displaythe response of EFI to GDP to be negative only in the short-run reaching the positive value at the end of the period of interest. Similar conclusion can be drawn for the response of EFI to GFC. GDP is found to have a positive response to the EFI in both, short- and the long-term. Similar conclusion can be drawn for the response of GDP to GFC. GFC positively responds to and to GDP. This paper suggests a necessity for policy makers to support the economic freedom since it has a great potential to contribute to the both, investments andfinal the economic growth of the countries of interest.