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Öğe Dynamics between disaggregates of governance and stock market performance in selected South Asia countries(2020) Öztürk, İlhan; Ahmed, Khalid; Khan, BareerahThis study explores the dynamics between disaggregated factors of governance and stock market development for the panel of selected South Asian countries (i.e., Bangladesh, India, Pakistan and Sri Lanka). Using newly developed data for disaggregates of governance with annual frequency between 1996 and 2014, this study pioneers in South Asian context. Doing so, this study incorporates dynamic panel data technique pool mean group estimation for robust and policy oriented outcomes. The empirical results show that three indicators of governance (control of corruption, accountability and rule of law) have a positive and statistically significant impact on stock market development. The results of long-run estimations are homogenous across the countries but, the short-run estimates, and the speed of adjustment towards the long-run equilibrium are found to be heterogeneous. It could be due to volatility effect of governance in each cross section country. From the policy perspective, the study concludes that the institutional quality and governance are the significant factors on market capitalization in the panel countries. The institutional factors (i.e., control of corruption, accountability and rule of law) support stock market development through high market capitalization, strengthens investor's confidence for long term investment in the countries.Öğe Emission intensive growth and trade in the era of the Association of Southeast Asian Nations (ASEAN) integration: An empirical investigation from ASEAN-8(ELSEVIER SCI LTD, 2017) Ahmed, Khalid; Bhattacharya, Mita; Shaikh, Zahid; Ramzan, Muhammad; Öztürk, İlhanThis paper attempts to shed some light on the energy consumption and associated emissions linking recent trade integration for eight economies in the ASEAN region: Brunei Darussalam, Cambodia, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. Considering the heterogeneity across the panel of countries, a long-run relationship is established between output, energy, trade, and emissions over a period of three decades. The role of transportation is considered in this respect. The overall findings indicate that the environmental consequences of economic growth are alarming for most of the countries in the panel, and non-renewable energy consumption is the key contributing factor towards environmental deterioration in the ASEAN region. Of the eight, it is further established that five economies from the region (Cambodia, Indonesia, Malaysia, Thailand and Vietnam) predominantly engage in emission-intensive trade and an increase in future energy demand and environmental degradation is projected for these countries. We suggest that the implementation of economic and trade policies in future should align with the energy sector. In this respect, renewable energy sources will play a greater role in sustainable growth and development across the countries.Öğe Modelling trade and climate change policy: a strategic framework for global environmental negotiators(Iwa Publıshıng, 2016) Ahmed, Khalid; Ahmed, Naveed; Shahbaz, Muhammad; Öztürk, İlhan; Long, WeiIn the past, failure of trade-climate talks might have created negative signs, but international trade actually induces more participation and helps to attain joint agreement. Carbon permit trading has a key role to play in the abatement process. Participation in global multilateral negotiations and a country's self-interest with respect to entering an abatement process depends upon either the scale of climate change damage or the punishment level that affects its economy. Thus, this study assumes N good cases for countries that have substantial emission levels. We analyse the change in utility function through a business-as-usual scenario for both group and individual country levels. The model designed in this study examines the data on emissions and gross domestic product (GDP) for selected developing and developed countries and the rest of the world. The data calibrations are similar to the previous studies. However, this study extends the model to a strategic level at which countries can choose coalition partners to undertake abatement for mutual benefits, considering the terms of trade. The results possess strong trade-environment policy options and help them to reach certain multilateral agreement.Öğe Retraction Note: Effect of trade on ecological quality: a case of D-8 countries(Environmental Science and Pollution Research, (2019), 26, (35935-35944), 10.1007/s11356-019-06520-0)(Springer, 2024) Ahmed, Khalid; Ozturk, Ilhan; Ghumro, Ikhtiar Ali; Mukesh, PirihThe Publisher has retracted this article in agreement with the Editor-in-Chief. An investigation by the publisher found a number of articles, including this one, with a number of concerns, including but not limited to compromised peer review process, inappropriate or irrelevant references, containing nonstandard phrases or not being in scope of the journal. Based on the investigation's findings the publisher, in consultation with the Editor-in-Chief therefore no longer has confidence in the results and conclusions of this article. Author Khalid Ahmed stated on behalf of all authors that they disagree with the retraction. © Springer-Verlag GmbH Germany, part of Springer Nature 2024.Öğe The emission abatement policy paradox in Australia: evidence from energy-emission nexus(Sprınger Heıdelberg, 2016) Ahmed, Khalid; Öztürk, İlhanThis paper attempts to investigate the emissions embodied in Australia's economic growth and disaggregate primary energy sources used for electricity production. Using time series data over the period of 1990-2012, the ARDL bounds test approach to cointegration technique is applied to test the long-run association among the underlying variables. The regression results validate the long-run equilibrium relationship among all vectors and confirm that CO2 emissions, economic growth, and disaggregate primary energy consumption impact each other in the long-run path. Afterwards, the long- and short-run analyses are conducted using error correction model. The results show that economic growth, coal, oil, gas, and hydro energy sources have positive and statistically significant impact on CO2 emissions both in long and short run, with an exception of renewables which has negative impact only in the long run. The results conclude that Australia faces wide gap between emission abatement policies and targets. The country still relies on emission intensive fossil fuels (i.e., coal and oil) to meet the indigenous electricity demand.Öğe What drives carbon dioxide emissions in the long-run? Evidence from selected South Asian countries(PERGAMON-ELSEVIER SCIENCE LTD, 2017) Ahmed, Khalid; Rehman, Mujeeb Ur; Öztürk, İlhanThis study empirically investigates the relationship between CO2 emission and four of its potentially contributing factors (i.e., energy consumption, income, trade openness and population) using time series data from 1971 to 2013 on five selected economies of South Asia. After confirming that all the series are stationary using unit root test process, the study incorporates three different and advance panel cointegration tests i.e. Pedroni- Kao- and Johansen-Fisher-panel cointegration. All the panel cointegration tests confirm that all the variables cointegrated. The long-run association between the variables is checked using FMOLS-grouped and individual cross-section country in the panel. The FMOLS grouped results show that energy consumption, trade openness and population increases environmental degradation in the panel countries with exception of income which has negative impact and sounds the existence of Environmental Kuznet curve between income and emission. The innovative accounting approach using variance decomposition test and impulse response function is applied to examine the causality amongst the underlined vectors. The results show that there is bidirectional causality between energy consumption and trade openness and uni-directional causality running from energy consumption, trade openness and population to CO2 emission. The results enumerate that the energy consumption and population density will increase in long-run and foresee further environmental degradation in the region.Öğe What new technology means for the energy demand in China? A sustainable development perspective(SPRINGER HEIDELBERG, 2018) Ahmed, Khalid; Öztürk, İlhanThis paper explores the direct impact of new technology on the energy intensity in China. The autoregressive distributed lag (ARDL) bounds test approach to cointegration is utilised over the extended period of 1985-2013. The variables found cointegrated and confirm the long-run association among all the underlying vectors. Furthermore, the results of long- and short-run analysis reveal that new technology spurs energy intensity in China. A 1% increase in technological innovation boosts energy intensity by 0.4% and 0.03% in the long and short run, respectively. The findings suggest that the establishment of smart grids and solar energy parks followed by the reforms in energy sector is yet to achieve plausible efficiency in China. The existing investment and innovation policy reforms are insufficient to assist the energy sector to cope up with the country's exceptional economic growth trend. Unlike other studies, this paper accommodates structural break in the series. During sensitivity analysis, the model is found stable. Hence, the findings possess important policy implications for China and open up new discussion in the field.
