Negative / Null Result ReportOpen accessEconomics, Econometrics and Finance
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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Xi Wang, Tao Pei, Ci Song et al. · 2023 · Sustainable Cities and Society
Quantifying the centrality of places and identifying centers constitute the basis for assessing the urban spatial structure, which is essential for sustainable spatial planning. Both the existence and intensity of linkages contribute to…
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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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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Najabat Ali, Md Reza Sultanuzzaman · 2026 · Energies
This study investigates the determinants of green energy penetration in the Next Eleven (N-11) economies over the period 2000–2022, with a particular focus on the roles of foreign direct investment (FDI), green transition, governance quality, industrial growth, and urbanization. The primary objective of the study is to assess how investment flows, structural transformation, and institutional capacity jointly shape the adoption of renewable energy in fast-growing emerging economies. To achieve this goal, the study employs a second-generation panel econometric and machine-learning framework that
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Elma Šatrović, Oluwatoyin Abidemi Somoye, Banji Rildwan Olaleye et al. · 2025 · Frontiers in Environmental Science
This study elucidates how fiscal decentralization affects environmental sustainability, moderating the role of environmental policy stringency in the selected European Union (EU) countries between 1995 and 2020. In addition, economic upturn, import diversification, and environmental protection expenditures are utilized as control variables. The empirical findings of the Method of the Moments Quantile Regression (MMQR) disclosed that the environmental policy stringency and environmental protection expenditures help the EU achieve ecological priorities. In addition, import diversification also s
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Rong Yuan, Tajul Ariffin Masron, Yujie Chen et al. · 2025 · International Journal of Environmental Science and Technology
Abstract The alarming rate of environmental degradation worldwide has prompted a renewed focus on government effectiveness as an essential factor affecting environmental quality. Few studies have demonstrated the role of government effectiveness in environmental degradation under the influence of economic development. Consequently, this study aims to investigate the effect of government effectiveness and how it impacts environmental degradation using panel data from 61 regions from 2007 to 2021 and the generalized method of moments (GMM) estimator. The results show that improving government ef
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Oxana Kirichok, Yuliia Orlovska, G.S. Zhanseitova et al. · 2025 · Environmental Economics
Type of the article: Research ArticleAbstract Global progress toward universal access to affordable, reliable, and clean energy has stalled, with over two billion people still lacking access to clean cooking, and affordability pressures are rising. AI is emerging as an energy-intensive technology and a potential enabler of more equitable energy systems. This paper assesses whether AI vibrancy contributes to advancing energy equity across countries while accounting for differences in economic capacity. The study employs a balanced panel of 36 countries from 2017 to 2023 (252 observations), draw
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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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Sami S. Omar, Wagdi M. S. Khalifa, Tolga Öz · 2025 · Energies
Amid growing environmental concerns and an increasing push for sustainable development, countries in the Middle East and North Africa (MENA) region have taken proactive steps toward green growth, energy transition, and technological innovation. As a result, this study examines the effects of green growth, energy transition, technological innovation, financial inclusion, and urbanization on environmental sustainability in the Middle East and North Africa (MENA) region. Moreover, this study breaks new ground by exposing the hidden environmental costs of financial inclusion, urbanization, and tec
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S Jakubowski, Paweł Kawalec, Przemysław Holko et al. · 2024 · Frontiers in Pharmacology
Objectives: The aim of this study was to characterize the reimbursement policy for orphan drugs (ODs) in Central and Eastern European (CEE) countries in relation to the availability and impact of clinical evidence, health technology assessment (HTA) procedure, selected economic indicators, and the drug type according to indications. Materials and methods: A list of authorized medicines with orphan designation and information about active substance, Anatomical Therapeutic Chemical (ATC) classification, and therapeutic area was extracted from the web-based register of the European Medicines Agen
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Katsiaryna Salavei Bardos, Dev R. Mishra, Hyacinthe Somé · 2025 · Journal of Corporate Finance
In a sample of U.S. firms, we find strong evidence that firms' implied cost of equity is decreasing in a novel proxy of firm-level climate change sentiments of earnings call participants, supporting prior literature that shows investors demand higher returns from their investments in brown firms and lower returns from that in green firms. This effect, however, is particularly pronounced for the firm-years headquartered in the states experiencing higher than median per-capita energy related CO2 emissions, those headquartered in climate related disaster intensive counties and those headquartered
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Novriana Sumarti, Rafki Hidayat · 2013 · arXiv
The Financial Crisis of 2008 is a worldwide financial crisis causing a worldwide economic decline that is the most severe since the 1930s. According to the International Monetary Fund (IMF), the global financial crisis gave impact on USD 3.4 trillion losses from financial institutions around the world between 2007 and 2010. Does the crisis give impact on the returns of the U.S. movie Box Office? It will be answered by doing an analysis on the financial risk model based on Extreme Value Theory (EVT) and calculations of Value at Risk (VaR) and Expected Shortfall (ES). The values of VaR and ES fr
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Agnieszka Kleszcz, Krzysztof Rusek · 2022 · arXiv
Nowadays innovation is one of the main determinants of economic development. Patents are a key measure of innovation output, as patent indicators reflect the inventive performance of countries, technologies and firms. This paper provides new insights on the causal effects of the enlargement of the European Union (EU) by investigating the patents performance within the new EU member states (EU-13). The empirical results based on data collected from the OECD database from 1985-2017 and causal impact using a Bayesian structural time-series model (proposed by Google) point towards a conclusion tha
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Mohammad Hassan Shakil, Arne Johan Pollestad, Khine Kyaw et al. · 2025 · arXiv
With European Union initiatives mandating gender quotas on corporate boards, a key question arises: Is greater board gender diversity (BGD) associated with better emissions performance (EP)? To answer this question, we examine the influence of BGD on EP across a sample of European firms from 2016 to 2022. Using panel regressions, advanced machine learning algorithms, and explainable AI, we reveal a non-linear relationship. Specifically, EP improves with BGD up to an optimal level of approximately 35 %, beyond which further increases in BGD yield no additional improvement in EP. A minimum BGD t
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