Percorrer por autor "Balsalobre-Lorente, Daniel"
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- Fresh validation of the low carbon development hypothesis under the EKC Scheme in Portugal, Italy, Greece and SpainPublication . Balsalobre-Lorente, Daniel; Leitão, Nuno Carlos; Bekun, Festus VictorThe present study is in line with the United Nations Sustainable Development Goals (UN-SDGs) that address pertinent global issues. This study focuses on the need for access to clean and affordable energy consumption, responsible energy consumption, sustainable economic growth, and climate change mitigation. To this end, this paper evaluates the relevance of the renewable energy sector on the environmental Kuznets curve (EKC) framework in Portugal, Italy, Greece, and Spain for the period 1995–2015. As an econometric strategy, we adopt the use of panel data over the highlighted countries. In the first step, we apply the unit root test recommended by Levin, Lin, and Chu in conjunction with ADF-Fisher, and Phillips-Perron for robustness and consistency. We found that the variables used in this study are integrated I (1) in the first difference. In the second step, we apply the Pedroni cointegration test, and Kao Residual cointegration test, and we observe that the variables are cointegrated in the long run. The generalized least squares (GLS), the panel fully modified least squares (FMOLS), ordinary least squares robust (OLS), and panel quantile regression are considered in this research. The econometric results validate the assumption of the environmental Kuznets curve, i.e., and there is a positive correlation between income per capita and a negative effect of squared income per capita on carbon dioxide emissions. In contrast, we observe that renewable energy reduces CO2 emissions. Finally, we also find a direct connection between the urban population and the environmental degradation in the examined blocs. These results show that in Portugal, Italy, Greece, and Spain, more is required to achieve environmental sustainability in the respective countries growth trajectory. Further policy prescriptions are appended in the concluding section of this study.
- The carbon dioxide neutralizing effect of energy innovation on international tourism in EU-5 countries under the prism of the EKC hypothesisPublication . Balsalobre-Lorente, Daniel; Driha, Oana M.; Leitão, Nuno Carlos; Murshed, MuntasirMitigation of carbon dioxide emissions has become an utmost important global agenda, keeping into consideration the associated environmental hardships. As a result, it is important to unearth the factors which can neutralize carbon emissions to transform the world economy into a low-carbon one. Against this backdrop, this study explores the carbon dioxide neutralizing effects of economic growth, international tourism, clean energy promotion, and technological innovation in the context of five European Union (EU-5) nations during the 1990–2015 period. This study's main contribution is in terms of its approach to test the interaction effect between foreign direct investment (FDI) inflows and energy innovation on carbon dioxide emissions. The econometric analysis chronologically involves the employment of unit root, cointegration, causality, and regression methods. Overall, the findings support the inverted-U-shaped economic growth-carbon dioxide emissions nexus to verify the Environmental Kuznets Curve (EKC) hypothesis. Besides, the Pollution Haven Hypothesis in the context of the selected panel is also verified as higher FDI inflows are seen to boost the carbon dioxide emission levels. The results also confirm that energy innovation moderates the harmful effect of air transport (a proxy for international tourism) on carbon dioxide emissions during the developing stage of the tourism industry. On the other hand, renewable energy promotion is found to curb carbon dioxide emissions. These findings suggest that the European governments need to enhance investments in their respective renewable energy sectors and simultaneously ensure the development of clean industries, which can collectively help these nations become carbon-neutral in the future.
- The impact of renewable energy and economic complexity on carbon emissions in BRICS countries under the EKC schemePublication . Leitão, Nuno Carlos; Balsalobre-Lorente, Daniel; Cantos-Cantos, José MaríaEconomic complexity makes it possible to assess the development of the countries, the relations of innovation, and the differentiation of products. The article considers the links between the hypotheses of the Kuznets environmental curve and economic complexity using panel data for the group of BRICS countries (Brazil, Russia, India, China, and South Africa) from 1990 to 2015. As an econometric strategy, this study considered the panel fully modified least squares (FMOLS), panel dynamic least squares (DOLS), fixed effects (FE), and Panel Quantile Regression. The empirical results showed that economic complexity, income per capita, renewable energy, and carbon dioxide emissions are integrated with the first difference when applying the unit root test. The arguments of Pedroni and Kao cointegration tests were also used. According to these results, the variables used in this research are cointegrated in the long run. The results validated the arguments of the EKC hypothesis, i.e., the income per capita and squared income per capita are positively and negatively correlated with CO2 emissions. Moreover, economic complexity and renewable energy aim to improve environmental damage and climate change.
- The influence of economic complexity processes and renewable energy on CO2 emissions of BRICS. What about industry 4.0?Publication . Balsalobre-Lorente, Daniel; Contente dos Santos Parente, Clara; Leitão, Nuno Carlos; Cantos-Cantos, José MaríaThis study analyses the relationship between carbon dioxide emissions per capita, the economic complexity index, renewable energy, and inward foreign direct investment using panel data for the BRICS countries from 1995 to 2020. Empirical results confirm that the environmental Kuznets curve is fulfilled, with a positive but decreasing contribution of economic development on environmental deterioration, to the point that neutrality on CO2 emissions can be achieved in the long term. In addition, the results confirm, in this case, the Pollution Haven Hypothesis, that is, the set of BRICS economies chooses to apply regulations that do not respect the environment. The results of other econometric studies support this study, pointing to long-run cointegration. The unit root tests and the variance inflation test also point to stationarity at the first difference and a lack of multicollinearity, respectively. Finally, given the scarcity of empirical studies, this study adopts an incipient methodology to approximate the impact of the technologies associated with Industry 4.0 on carbon emissions, obtaining evidence that their effect on environmental deterioration is very moderate. In addition, the results suggest that, in the long term, these technologies can contribute to achieving the neutrality of polluting emissions.
- The role of tourism, trade, renewable energy use and carbon dioxide emissions on economic growth:evidence of tourism-led growth hypothesis in EU-28Publication . Balsalobre-Lorente, Daniel; Leitão, Nuno CarlosThe article examines the effects of renewable energy, trade, carbon dioxide emissions and international tourism on economic growth in EU-28, considering panel data for the period 1995-2014. The investigation finds the new determinants of economic growth. The empirical results find support from the panel fully modified least squares (FMOLS), panel dynamic least squares (DOLS) and fixed effects (FE) as estimation techniques. The econometric results are consistent with the existing literature. The variables considered in this study are cointegrated in the first difference, as suggested by the panel unit root test. The present study seeks to advance the knowledge of the growth determinants, paying attention to the effect that both the tourism and energy sector exerts on economic growth for EU-28 countries. The empirical results demonstrate that trade openness, tourism arrivals and renewable energy encourage economic growth. Therefore, according to the econometric results, renewable energy allows improving environmental quality. However, CO2 emissions are positively correlated with economic growth, showing that growth is directly correlated by climate change and greenhouse gas. The results also confirm the tourism-led growth hypothesis (TLGH) for the panel. Finally, the empirical results confirm that trade openness, energy use and international tourism contribute to enhance economic growth. Based on these findings, further insights and policy prescription are offered in the concluding section.Graphical abstract.