The intersection of economic development,energy dynamics,environmental policy,and environmental sustainability presents complex challenges for European Union(EU)countries.This study investigatedthe impact of environme...The intersection of economic development,energy dynamics,environmental policy,and environmental sustainability presents complex challenges for European Union(EU)countries.This study investigatedthe impact of environmental taxes,hydroelectricity consumption,economic globalization,and gross domestic product(GDP)on the load capacity factor(LCF)in the 10 EU member countries(including Austria,Finland,France,Germany,Italy,Poland,Portugal,Slovakia,Spain,and Sweden)using data from 1995 to 2020.To ensure the reliability and validity of the data,this study applied several advanced econometric tests,including the Pesaran and Yamagata slopeheterogeneitytest,Pesaran cross-sectional dependence(CSD)test,second-generation unit root test,and Westerlund cointegration test.The data showed important statistical issues such as slope heterogeneityacross panels,CSD,mixed-orderunit root structures,and long-run associations between variables.To address these issues,we applied an augmented mean group(AMG)model as the main regression approach,andusedthe pooled mean group-autoregressive distributed lag(PMG-ARDL)method to check the robustness.Specifically,the AMG results indicate that a 1.000%rise in hydroelectricity consumptionresults in a 0.048% rise in the LCF,while a 1.000% increase in environmental taxes leads toa 0.175% increase in the LCF.Contrary to this,a 1.000% increase in economic globalization results in a 0.370% decrease in the LCF,and a 1.000% increase in GDP leads toa 0.850% decrease in the LCF.Environmental taxes have a more beneficial impact on the environment,and GDP has the most detrimental effect.The findings provide empirical evidence on the role of environmental taxes,hydroelectricity consumption,economic globalization,and GDP in driving the LCF.Additionally,the findings provide valuable information to policy-makers,academicians,and stakeholders shaping energy and environmental policies in the 10 EU member countries.展开更多
Historically,geopolitical risk(GPR)has posed significant challenges to international economic,social,and political frameworks.This study investigated how internal GPR in the selected five Southeast Asian countries(Ind...Historically,geopolitical risk(GPR)has posed significant challenges to international economic,social,and political frameworks.This study investigated how internal GPR in the selected five Southeast Asian countries(Indonesia,South Korea,Malaysia,the Philippines,and Thailand)influences foreign direct investment(FDI)during 1996-2019.The stationarity of the data was assessed using the Augmented Dickey-Fuller(ADF)unit root test,which shows that the data became stationary after the first difference.The Kao,Pedroni,and Westerlund cointegration tests were employed to examine long-term cointegration among the selected variables(FDI,GPR index(GPRI),gross domestic product(GDP),inflation,interest rate,and trade openness(TOP)).The results indicated that these variables have a long-term cointegration.Consequently,regression analysis using the Pooled Ordinary Least Squares(OLS)regression,fixed effect,random effect,Arellano-Bond dynamic panel-data estimation,and system generalized moment method(GMM)revealed that GPRI and TOP negatively impacted FDI in the selected five Southeast Asian countries.At the same time,GDP,inflation,and interest rate positively influenced FDI in these countries.Because FDI is crucial to shaping a country’s macroeconomic structure,this study recommends that governments and central banks of the selected five Southeast Asian countries should implement policies and strategies to encourage foreign investments.展开更多
文摘The intersection of economic development,energy dynamics,environmental policy,and environmental sustainability presents complex challenges for European Union(EU)countries.This study investigatedthe impact of environmental taxes,hydroelectricity consumption,economic globalization,and gross domestic product(GDP)on the load capacity factor(LCF)in the 10 EU member countries(including Austria,Finland,France,Germany,Italy,Poland,Portugal,Slovakia,Spain,and Sweden)using data from 1995 to 2020.To ensure the reliability and validity of the data,this study applied several advanced econometric tests,including the Pesaran and Yamagata slopeheterogeneitytest,Pesaran cross-sectional dependence(CSD)test,second-generation unit root test,and Westerlund cointegration test.The data showed important statistical issues such as slope heterogeneityacross panels,CSD,mixed-orderunit root structures,and long-run associations between variables.To address these issues,we applied an augmented mean group(AMG)model as the main regression approach,andusedthe pooled mean group-autoregressive distributed lag(PMG-ARDL)method to check the robustness.Specifically,the AMG results indicate that a 1.000%rise in hydroelectricity consumptionresults in a 0.048% rise in the LCF,while a 1.000% increase in environmental taxes leads toa 0.175% increase in the LCF.Contrary to this,a 1.000% increase in economic globalization results in a 0.370% decrease in the LCF,and a 1.000% increase in GDP leads toa 0.850% decrease in the LCF.Environmental taxes have a more beneficial impact on the environment,and GDP has the most detrimental effect.The findings provide empirical evidence on the role of environmental taxes,hydroelectricity consumption,economic globalization,and GDP in driving the LCF.Additionally,the findings provide valuable information to policy-makers,academicians,and stakeholders shaping energy and environmental policies in the 10 EU member countries.
文摘Historically,geopolitical risk(GPR)has posed significant challenges to international economic,social,and political frameworks.This study investigated how internal GPR in the selected five Southeast Asian countries(Indonesia,South Korea,Malaysia,the Philippines,and Thailand)influences foreign direct investment(FDI)during 1996-2019.The stationarity of the data was assessed using the Augmented Dickey-Fuller(ADF)unit root test,which shows that the data became stationary after the first difference.The Kao,Pedroni,and Westerlund cointegration tests were employed to examine long-term cointegration among the selected variables(FDI,GPR index(GPRI),gross domestic product(GDP),inflation,interest rate,and trade openness(TOP)).The results indicated that these variables have a long-term cointegration.Consequently,regression analysis using the Pooled Ordinary Least Squares(OLS)regression,fixed effect,random effect,Arellano-Bond dynamic panel-data estimation,and system generalized moment method(GMM)revealed that GPRI and TOP negatively impacted FDI in the selected five Southeast Asian countries.At the same time,GDP,inflation,and interest rate positively influenced FDI in these countries.Because FDI is crucial to shaping a country’s macroeconomic structure,this study recommends that governments and central banks of the selected five Southeast Asian countries should implement policies and strategies to encourage foreign investments.
