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Öğe Impact of FDI Inflows on poverty reduction in the ASEAN and SAARC economies(MDPI, 2019) Ahmad, Fayyaz; Draz, Muhammad Umar; Su, Lijuan; Öztürk, İlhan; Rauf, Abdul; Ali, ShahidThe aim of this paper is to reinvestigate the impact of foreign direct investment (FDI) inflows on welfare or poverty reduction in the Association of Southeast Asian Nations (ASEAN) and the South Asian Association for Regional Cooperation (SAARC) economies. We used FDI net inflows per capita and the United Nations Development Program's Human Development Index (HDI) as the principal variables ranging from 1990 to 2014. Our analyses confirm the positive and strongly significant relationship between FDI net inflows and poverty reduction in Asia. However, it indicates significant differences between South Asia and Southeast Asia. Generally, we find that FDI has a greater impact on welfare in SAARC countries than in ASEAN countries. Our results hold true for both HDI and real gross domestic product (GDP), and are shown to be robust using both panel and pool model specifications.Öğe Looking for asymmetries and nonlinearities: The nexus between renewable energy and environmental degradation in the Northwestern provinces of China(2020) Öztürk, İlhan; Draz, Muhammad Umar; Ahmad, Fayyaz; Su, Lijuan; Rauf, AbdulRecent industrial surge in the Northwestern provinces of China resulted in substantial energy consumption and adverse effect on the environment. Despite being less established, the Northwestern region of China has strategic importance and the use of renewable energy can potentially promote sustainable development in this region. Considering this aspect, this study aims to investigate the impact of renewable energy on environmental pollution in five Northwestern provinces of China during 1995 e2014. This study uses the Nonlinear Autoregressive Distributed Lag bounds testing approach with the structural break unit root and other specifications tests. The results indicate that renewable energy positive shock has an adverse impact on the CO2 emissions of the Northwestern provinces of China. The effect of renewable energy use varies in five provinces, i.e. it is more significant in Gansu, Qinghai and Xinjiang than in Ningxia and Shaanxi. However, reduction in renewable energy consumption leads to higher level of CO2 emissions and this effect is more significant for Ningxia and Shaanxi in the long run. Furthermore, the positive shockwaves in nonrenewable energy, GDP and transportation are associated with environmental pollution in these provinces both in short run and long run. Nevertheless, the impact of negative shockwaves in nonrenewable energy consumption on environmental pollution is more significant than economic development for all provinces. Our findings suggest that: cutting down fossil fuels use can substantially improve environmental quality in these provinces; depending on the provincial geographies and government strategies, the intensity of positive impact of renewable energy towards CO2 emissions reduction differs among five provinces. Likewise, renewable energy development has abundant potential to increase the economic and ecological sustainability in the Northwestern provinces of China in the long run.Öğe Revisiting the nexus between exchange rate, exports and economic growth: further evidence from Asia(Routledge Journals, Taylor & Francis Ltd, 2022) Zhu, Wei; Ahmad, Fayyaz; Draz, Muhammad Umar; Ozturk, Ilhan; Rehman, AbdulThe economic growth of developing countries has been associated with their exports, and the existing research suggests that exchange rates significantly influence the exports. This study used panel data to investigate the potential nexus of gross domestic product (GDP), exports and exchange rates in Asian countries over the period of 1981-2016. The results portray that nexus between exchange rate and exports holds true for Export-led Growth (ELG) and Growth-led Exports (GLE) hypotheses. This study used the Wald test under Vector Error Correction Model (VECM) with all necessary specifications tests to identify the possible nexus of variables, and applied the fixed effects model along with control variables. The results imply that an undervalued currency enhances exports and has a significant impact on economic growth. Additionally, the results of Fully Modified Ordinary Least Squares (FMOLS) model with financial crises dummy suggested that the estimations are robust. Keeping in view the aforementioned findings, a timely and balanced policy can play a pivotal role in improving the long term nexus of exchange rates, exports and economic growth.Öğe The case of China's fiscal decentralization and eco-efficiency: is it worthwhile or just a bootless errand? (vol 26, pg 89, 2021)(Elsevier, 2022) Ahmad, Fayyaz; Xu, Hui; Draz, Muhammad Umar; Ozturk, Ilhan; Chandio, Abbas Ali; Wang, Yanping; Zhang, Dawei[Abstract Not Available]Öğe The case of China’s fiscal decentralization and eco-efficiency: is it worthwhile or just a bootless errand?(2020) Öztürk, İlhan; Ahmad, Fayyaz; Xua, Hui; Draz, Muhammad Umar; Chandio, Abbas Ali; Wang, Yanping; Zhang, DaweiDuring the last two decades, China has made commendable efforts to control environmental pollution and promote sustainable development. Empowering local governments regarding their budgets is an example of such efforts. Although China’s fiscal decentralization (FD) stimulated inter-regional economic competition, environmental pollution also came along as a byproduct. Considering these dynamics, this study aims to investigate the association between the FD and the eco-efficiency of 99 prefecture-level cities from China’s top ten urban agglomerations from 2003 to 2016. We investigated the issue of crosssectional dependence among the panel variables and, to check the stationary properties of our data, applied the second generation Pesaran and Cross-sectional augmented Im, Pesaran, and Shin unit root tests. Subsequently, to check the possible impact of FD on eco-efficiency, we applied both Difference Generalized Method of Moments (GMM) and System GMM with the help of several control variables. The results indicated that FD improved eco-efficiency for the overall sample cities; however, this impact varied among different regions of China. The regional analyses confirmed that FD improved eco-efficiency in the eastern and central parts of China, whereas the relationship was negative in the western region. Our results also confirm that irrational use of resources for economic development reduces eco-efficiency. However, sustainable economic development has a positive and significant impact on eco-efficiency. The negative impact of foreign direct investment and secondary industry was also more significant than was that of population density. Our study presents important policy implications for both central and local governments in China, which include an increase in decentralization and eco-efficiency practices and control over foreign investments, lead towards environmental pollutionÖğe Tourism and Environmental Pollution: Evidence from the One Belt One Road Provinces of Western China(MDPI, 2018) Ahmad, Fayyaz; Draz, Muhammad Umar; Su, Lijuan; Öztürk, İlhan; Rauf, AbdulThe rapid economic development of China and the industrial shift from its eastern to western provinces have resulted in significant negative impacts on the environment. Recently, tourism has emerged as an alternative for economic and environmental development, but it is a double-edged sword. Without the required measures to protect environment, the opportunity cost of tourism is environmental degradation. The western part of China holds a significant advantage for the development of travel and tourism (T&T), due to One Belt One Road (OBOR), unique ancient culture and spectacular variety of natural scenic spots. This region is among the less explored and less developed, but important, parts of China. Taking this point into consideration, this paper aims to examine the impact of tourism on the environmental pollution of five provinces located in the heart of OBOR over the period of 1991-2016. To explore this link, we used the fully modified ordinary least squares (FMOLS) approach and Gregory-Hansen test for robustness check. We applied the Zivot-Andrews unit root test to deal with structural breaks in data. Our results confirm a negative impact of tourism on environment for Ningxia, Qinghai, Gansu, and Shanxi. However, tourism improves the environmental quality of Xinjiang. The negative impact of energy consumption and GDP growth is significant than tourism. Our findings suggest that the relationship varies for different provinces in the same region depending on the specific provincial features and government policies. Furthermore, tourism development has great potential to improve the economic and environmental sustainability in these provinces.
