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Browse the failure-mode index

222 real negative results, null findings, and replication failures in Economics, Econometrics and Finance. Search the index →

WASTE indexes published research — it does not host or republish full papers. Each entry is a metadata record compiled from open scholarly databases; the abstract is shown in full only where the paper is openly licensed, otherwise a short excerpt under fair use. Classifications are automated and approximate.

Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Economic Complexity, Environmental Sustainability, and Technological Integration in Saudi Arabia: Analyzing Long-Term Trends

Ihsen Abid, Nesrine Gafsi · 2025 · International Journal of Energy Economics and Policy

The purpose of this research paper is to examine the long-term dynamics between economic growth, technological integration, and environmental sustainability in Saudi Arabia from 1995 to 2023. It aims to identify the impact of key economic, technological, and environmental indicators, including GDP, ICT sector performance, foreign direct investment (FDI), trade, and ecological footprint, on the country’s development trajectory. The research employs a quantitative approach, using VAR-VECM models to analyze time-series data. The study applies Granger causality tests and impulse response functions

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Skill-relatedness and employment growth of firms in times of prosperity and crisis in an oil-dependent region

John-Erik Rørheim, Ron Boschma · 2021 · Environment and Planning A Economy and Space

Many studies have shed light on the positive side of relatedness, but little attention has yet been devoted to possible downsides of relatedness for firm performance in regions. We found in a case study of the oil-dependent Stavanger region in Norway that plants in industries that are skill-related to the dominant oil and gas industry showed lower employment growth than plants in other industries. This was the case both in the boom and the crisis periods, even when controlling for supply linkages to the oil and gas sector. However, we also found that plants skill-related to the oil and gas ind

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Communication of anticancer drug benefits and related uncertainties to patients and clinicians: document analysis of regulated information on prescription drugs in Europe

Courtney Davis, Anita K. Wagner, Maximilian Salcher‐Konrad et al. · 2023 · BMJ

OBJECTIVE: To evaluate the frequency with which relevant and accurate information about the benefits and related uncertainties of anticancer drugs are communicated to patients and clinicians in regulated information sources in Europe. DESIGN: Document content analysis. SETTING: European Medicines Agency. PARTICIPANTS: Anticancer drugs granted a first marketing authorisation by the European Medicines Agency, 2017-19. MAIN OUTCOME MEASURES: Whether written information on a product addressed patients' commonly asked questions about: who and what the drug is used for; how the drug was studied; typ

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Economic Growth, FDI, Tourism, and Agricultural Productivity as Drivers of Environmental Degradation: Testing the EKC Hypothesis in ASEAN Countries

Yuldoshboy Sobirov, Beruniy Artikov, Elbek Khodjaniyazov et al. · 2025 · Sustainability

This study examines the long-run relationship between carbon dioxide (CO2) emissions and key macroeconomic and sectoral drivers in ten ASEAN economies from 1995 to 2023. Employing Driscoll–Kraay standard errors, Prais–Winsten regression, heteroskedastic panel-corrected standard errors, Fully Modified Ordinary Least Squares (FMOLS), Dynamic Ordinary Least Squares (DOLS), and Canonical Cointegrating Regression (CCR) estimators, the analysis accounts for cross-sectional dependence, slope heterogeneity, and endogeneity. Results indicate that GDP exerts a more-than-unitary positive effect on emissi

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Trade-offs and synergies when balancing economic growth and globalization for sustainable development goals achievement

Imre Fertő, Gábor Harangozó · 2025 · Scientific Reports

This study investigates the complex relationships between globalization, economic growth, urbanization, and ecological footprint in the context of advancing the United Nations Sustainable Development Goals (SDGs). Employing a club convergence framework, we evaluate global SDG Index from 2000 to 2023 for 149 countries with 3212 observations, identifying five converging clubs and one non-converging group. Our analysis demonstrates that higher GDP per capita and various dimensions of globalization positively impact SDG outcomes, whereas rapid urbanization and expansive ecological footprints exert

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Green growth dynamics: unraveling the complex role of financial development and natural resources in shaping renewable energy in Sub-Saharan Africa

Alhasan Osman, Mohd Afjal, Majed Alharthi et al. · 2025 · Humanities and Social Sciences Communications

Abstract This study examines the complex interplay between financial development, natural resources, and renewable energy consumption in Sub-Saharan Africa from 2000 to 2020, highlighting the pivotal role of financial strategies in enhancing sustainable energy practices. Employing an array of analytical techniques, including panel-corrected standard errors (PCSE), fixed effects, random effects models, and panel-fixed quantile regression, we delve into the nuanced relationships among these critical variables. The findings reveal that while natural resources and financial development generally e

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

True versus Spurious Long Memory in Cryptocurrencies

Dooruj Rambaccussing, Murat Mazibaş · 2020 · Journal of risk and financial management

We test whether the selected cryptocurrencies exhibit long memory behavior in returns and volatility. We use data on five most traded cryptocurrencies: Bitcoin, Litecoin, Ethereum, Bitcoin Cash, and XRP. Using recent tests of long memory developed against persistent and nonlinear alternatives, this paper finds that long memory is mostly rejected in returns. The tests fail to reject the null hypothesis of long memory in most cases across different volatility proxies and cryptocurrencies. The estimated memory parameters show that volatility is persistent, and when volatility is measured by log r

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Measuring inflation expectations: How the response scale shapes density forecasts

Christoph K. Becker, Peter Duersch, Thomas Eife · 2026 · Quantitative Economics

In density forecasts, respondents are asked to assign probabilities to a response scale with pre‐specified ranges of inflation. In two large‐scale experiments, one conducted in the US and one in Germany, we show how the specifics of the…

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Artificial Intelligence Adoption and Role of Energy Structure, Infrastructure, Financial Inclusions, and Carbon Emissions: Quantile Analysis of E-7 Nations

Shanwen Gu, Adil Javed · 2025 · Sustainability

The E-7 nations face significant challenges in harmonizing artificial intelligence (AI) adoption with sustainable economic and environmental goals. While AI holds transformative potential to revolutionize energy structures, modernize infrastructure, broaden financial inclusion, and reduce carbon emissions, its effective integration is frequently hindered by policy inertia, economic limitations, and long-standing institutional barriers. Using the multi-level perspective (MLP), this study employs the method of moments quantile regression (MMQREG) on panel data from 2004 to 2024 to investigate th

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Adaptive food price forecasting improves public information in times of rapid economic change

Matthew MacLachlan, Michael K. Adjemian, Xiaoli Etienne et al. · 2025 · Nature Communications

The advent of COVID-19 ended an era of stable US retail food prices that followed the world food price crisis of 2010–2012. Pandemic-related disruptions, avian influenza outbreaks, and the Russia-Ukraine war drove 2022 food-at-home…

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

What Is the Cost of Privatization for Workers?

Martin Olsson, Joacim Tå̊g · 2025 · The Journal of Finance

ABSTRACT Privatization of state‐owned enterprises is on the agenda across the globe. Using Swedish data covering two decades, we show that productivity gains and headcount reductions are associated with economic costs for incumbent…

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Navigating Chinese green deals through green investment, green technology, and green energy development: a race for sustainability or greenwashing?

Buhari Doğan, Mohammad Razib Hossain, Rabeh Khalfaoui et al. · 2026 · Financial Innovation

Abstract Drawing from the recent COP28, which espouses a boom in clean energy transition through technological forwardness, and the framework of the SDG, we address critical questions related to green investment, energy investment, and environmental sustainability. We scrutinize whether green technology genuinely leads to green investment and energy investment in China and whether the causal nexus between these variables holds amid an EKC postulation. We use Chinese provincial data from 1998 to 2020 and deploy the quantile moment-based non-parametric regression technique and the newly develope

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Green growth and sustainable energy transitions: evaluating the critical role of technology, resource efficiency, and innovation in Europe’s low-carbon future

Yangfan Lu, Sareer Ahmad, Shaista Noureen et al. · 2025 · Humanities and Social Sciences Communications

Renewable energy, technology, and innovation are central to sustainable development, but their effects vary by country because of institutional and economic differences. Previous studies often ignore these differences. By incorporating…

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Government spending and economic growth dynamics in Somalia: time series evidence from ARDL bounds testing

Bile Abdisalan Nor, Yusniliyana Yusof · 2025 · Discover Sustainability

Abstract Somalia’s economy has faced persistent instability due to shocks from COVID-19, climate-related disasters, and conflict, resulting in stagnant GDP growth (averaging 2% from 2019 to 2023) and declining real GDP per capita (− 0.8% annually). Despite government expenditure rising to 9% of GDP in 2021, its efficiency in driving growth remains uncertain, raising critical questions about fiscal policy effectiveness in fragile states. We aim to investigate the relationship between government expenditure and GDP growth in Somalia from 1991 to 2021 using the ARDL estimation technique. The resu

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Impact of air pollution on life expectancy in Asian developing countries: Does renewable energy adoption matter?

Bo Yang, Fatma Ahmed Hassan, Waqar Ahmad et al. · 2026 · Frontiers in Public Health

Air pollution (AIRP) remains a critical public health and environmental challenge in developing Asia, where rapid industrialization and fossil fuel dependence continue to undermine population health and longevity. This study examines the impact of AIRP on life expectancy (LIFE) and investigates whether renewable energy adoption moderates this relationship. AIRP is proxied by carbon dioxide (CO₂) and nitrous oxide (N₂O) emissions, which capture pollution-intensive energy systems, industrial activity, and agricultural practices that jointly generate health-damaging co-pollutants, particularly in

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Free Movement of Inventors: Open-Border Policy and Innovation in Switzerland

Gabriele Cristelli, Francesco Lissoni · 2026 · Journal of the European Economic Association

Abstract We study the innovation effects of the Agreement on the Free Movement of Persons, signed by Switzerland and the European Union in 1999. We exploit a quasi-experimental setting created by Switzerland’s implementation of the treaty, which initially eased entry restrictions only for commuters from neighboring countries, thereby inducing a large inflow of “cross-border inventors” in regions close to the border. We find that the treaty increased patenting in such regions relative to comparable ones farther away from the border. We find no evidence indicating the displacement of native inve

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Innovation under dual policies: The impact of R&D subsidies and emissions trading on green patenting in Sweden

Jessica Coria, Jūratė Jaraitė · 2025 · Research Policy

This paper examines whether the EU Emissions Trading Scheme (EU ETS) and innovation subsidies interact to enhance green innovation at the firm level. Using staggered difference-in-differences and matched samples, we find no evidence of synergetic effects: firms subject to both the EU ETS and innovation subsidies do not outperform those subject only to subsidies in terms of green patenting outcomes. By contrast, subsidies alone have a clear positive impact on green innovation. Firms receiving subsidies generate more green patents, receive more citations, and develop technologies with greater te

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Risk-Return Analysis of the Biopharmaceutical Industry as Compared to Other Industries

Cedric Popa, Karel Holvoet, Tessa Van Montfort et al. · 2018 · Frontiers in Pharmacology

Background: Profits in the biopharmaceutical industry have been scrutinized in social debate. However, drawing conclusions based on industry profitability only is inappropriate as such an analysis does not account for risks faced by investors. This study aims to measure risks and returns in the biopharmaceutical industry and investigates whether risk-adjusted return on investment in the biopharmaceutical industry is higher than that in other industries. Methods: To enable appropriate comparison, we identified six benchmark industries with characteristics that match those of the biopharmaceutic

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Negative / Null Result ReportEconomics, Econometrics and Finance

Does the SARB respond to oil price movements? Historical evidence from the frequency domain

Goodness C. Aye, Olorato Gadinabokao, Rangan Gupta · 2016 · Energy Sources Part B Economics Planning and Policy

Causality testing procedures in the frequency domain and the time domain are employed to analyses the relationship between oil prices and interest rate in South Africa, covering the time period January 1936–November 2013 . Results show…

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Towards carbon neutrality: asymmetric impact of financial development and digitalization on carbon dioxide emissions in Mediterranean countries

Dhyani Mehta · 2024 · Carbon Research

Abstract The current research investigates the impact of financial development, digitalization, green trade, manufacturing, and national income on carbon dioxide (CO 2 ) emissions of six Mediterranean countries (MEDIT-6). The study uses a nonlinear panel quantile regression model with panel data of MEDIT-6 countries from 1994 to 2022. The study asserts that higher financial development will reduce CO 2 emissions for MEDIT-6 countries, as it provides more financing options to invest in green energy and potentially curb excessive energy consumption which in turn reduces CO 2 emissions. The study

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Evaluating the Interactive and Transformative Role of Innovation, Education, Human Capital and Natural Resources Policies in Protecting and Sustaining Environmental Sustainability

Jing Zeng, Ali Punjwani · 2025 · Sustainability

Achieving environmental sustainability remains a critical challenge for governments worldwide, particularly within the G20 bloc, due to rapid urbanization, resource-intensive industrial activities, and the environmental pressures associated with globalization. Despite various efforts, ecological degradation continues to escalate, necessitating a deeper understanding of the factors influencing environmental sustainability. This study investigates the role of technological innovation (TLI), education (EDU), human capital (HMC), and natural resources (NTS) in shaping ecological sustainability, wh

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Evaluating the effectiveness of green finance mechanisms, digitalization, globalization, and renewable energy consumption in advancing environmental sustainability in G20 countries

Muhammad Asif, Long Yun-rong, Muhammad Azam Zia et al. · 2025 · Energy & Environment

Climate change, caused by the burning of fossil fuels, has emerged as an acute world problem, especially in the Group of Twenty (G20), where CO 2 emissions and other greenhouse gases are accumulating. This research examines how energy…

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Monopsony Makes Firms Not Only Small but Also Unproductive: Why East Germany has Not Converged

Rüdiger Bachmann, Christian Bayer, Heiko Stueber et al. · 2026 · The Review of Economic Studies

Abstract When employers face a trade-off between being large and paying low wages—and in this sense have monopsony power—some productive employers decide against building large business networks, forgo sales, and remain small. These…

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

ETF Resilience to Uncertainty Shocks: A Cross-Asset Nonlinear Analysis of AI and ESG Strategies

Cătălin Gheorghe, Oana Panazan, Hind Alnafisah et al. · 2025 · Risks

This study investigates the asymmetric responses of AI and ESG Exchange Traded Funds (ETFs) to geopolitical and financial uncertainty, with a focus on resilience across market regimes. The NASDAQ-100 and MSCI ESG Leaders indices are used as proxies for thematic ETFs, and their dynamic interlinkages are examined in relation to volatility indicators (VIX, GPR), alternative assets (Bitcoin, Ethereum, gold, oil, natural gas), and safe-haven currencies (CHF, JPY). A daily dataset spanning the 2016–2025 period is analyzed using Quantile-on-Quantile Regression (QQR) and Wavelet Coherence (WCO), enabl

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Exchange Rate Volatility and Its Impact on International Trade: Evidence from Zimbabwe

Iveny Makore, Chisinga Ngonidzashe Chikutuma · 2025 · Journal of risk and financial management

Zimbabwe’s economy has experienced extreme exchange rate fluctuations over the past decades, driven by persistent macroeconomic instability and episodes of hyperinflation. The instability in exchange rates can significantly impact trade balances, inflation rates, and overall economic resilience. Understanding the impact of exchange rate volatility (ERV) on international trade is crucial in such a context. This study investigates the impact of exchange rate volatility (ERV) on international trade in Zimbabwe, addressing a literature gap related to its unique economic challenges and hyperinflati

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

Comprehensive Analysis on Determinants of Bank Profitability in Bangladesh

Saimum Hossain, Faruque Ahmed · 2026 · Dhaka University Journal of Business Studies

The study investigates the relationship between bank profitability and a comprehensive list of bank-specific, industry-specific and macroeconomic variables using unique panel data from 23 Bangladeshi banks with large market shares from…

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

The Dollar during the Great Recession: The Information Channel of U.S. Monetary Policy and the “Flight to Safety”

Vania Stavrakeva, JENNY TANG · 2026 · The Journal of Finance

ABSTRACT Conventional wisdom holds that lowering a home country's interest rate relative to another's will depreciate the domestic currency. We document that, at business‐cycle frequencies, U.S. forward guidance monetary policy easings had…

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Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance

When Do Low-Frequency Measures Really Measure Effective Spreads? Evidence from Equity and Foreign Exchange Markets

Mohammad R. Jahan‐Parvar, Filip Žikeš · 2023 · Review of Financial Studies

Abstract We present evidence that several popular low-frequency measures of effective spread suffer from a volatility-induced bias and that volatility is the primary driver of the variation of these liquidity proxies. Using data for U.S. equities and major foreign exchange rates, we show that the bias arises when the effective spread is small relative to volatility. We document that the bias has become more acute over time and show that volatility-biased measures fail to replicate some well-known results in empirical finance. We conclude by providing guidance on the choice of low-frequency mea

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