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    How the price dynamics of energy resources and precious metals interact with conventional and Islamic Stocks: Fresh insight from dynamic ARDL approach
    (Elsevier Sci Ltd, 2022) Godil, Danish Iqbal; Sarwat, Salman; Khan, Muhammad Kamran; Ashraf, Muhammad Sajjad; Sharif, Arshian; Ozturk, Ilhan
    Y The study aims to determine the short and long run relationships, and impulsive response effect of energy resources and precious metals on conventional and Islamic stocks through the Dynamic stimulated autoregressive distributed lag error correction model. Monthly time series data from Jun 2002 to Sep 2019 of Dow Jones Conventional and Islamic Stock indices, and commodity prices of gold, silver, platinum, crude oil, gasoline, and natural gas are analyzed. In the case of conventional stocks, results suggest that gasoline and platinum prices have a significant positive impact, whereas gold prices have a significant negative impact in the long run. As far as Islamic stocks are concerned, energy resources prices are found to be insignificant, however, among precious metals, platinum has a significant positive effect, and gold has a negative effect in the long run. Hence, we can infer that energy resources are affecting conventional and Islamic indices differently in the long run, but the impact of precious metal prices on both the indices is the same. Whereas short-run effect and impulse responses of energy resources as well as precious metals are found to be similar on both the indices. The outcomes of this endeavor are substantial for investors, portfolio managers, and policymakers with respect to their investments in conventional and Islamic stock markets.
  • Küçük Resim
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    Revisiting the role of renewable and non-renewable energy consumption on Turkey’s ecological footprint: Evidence from Quantile ARDL approach
    (2020) Öztürk, İlhan; Sharif, Arshian; Tuzemenc, Ozge Baris; Uzuner, Gizem; Sinha, Avik
    The current study re-investigates the impact of renewable and non-renewable energy consumption on Turkey’s ecological footprint. This study applies Quantile Autoregressive Lagged (QARDL) approach for the period of 1965Q1-2017Q4. We further apply Granger-causality in Quantiles to check the causal relationship among the variables. The results of QARDL show that error correction parameter is statistically significant with the expected negative sign for all quantiles which confirm an existence of significant reversion to the long-term equilibrium connection between the related variables and ecological footprint in Turkey. In particular, the outcomes suggested that renewable energy decrease ecological footprint in long-run on each quantile. However, the results of economic growth and non-renewable energy impact positively to ecological footprint in long-short run period at all quantiles. Finally, we tested the Environmental Kuznets Curve (EKC) hypothesis and the results of QARDL confirmed the EKC in Turkey. Furthermore, the findings of causal investigation from Granger-causality in quantiles evident the presence of a bi-directional causal relationship between renewable energy consumption, energy consumption and economic growth with ecological footprint in the Turkish economy.
  • Küçük Resim
    Öğe
    The dynamic relationship of renewable and nonrenewable energy consumption with carbon emission: A global study with the application of heterogeneous panel estimations
    (PERGAMON-ELSEVIER SCIENCE LTD, 2019) Sharif, Arshian; Raza, Syed Ali; Öztürk, İlhan; Afshan, Sahar
    This present study explores the relationship of renewable and non-renewable energy consumption with carbon emission by using panel data of 74 nations from 1990 to 2015. In doing as so, we apply the second-generation econometrics of panel data to examines the cross-section independence and control the heterogeneity between cross-sections. The CIPS unit root test, Westerlund (2007) bootstrap cointegration, Pedroni co-integration, FMOLS and heterogeneous panel causality techniques have been applied. The outcomes affirm that all variables are integrated over the long-run. The results also show that the nonrenewable energy consumption has a positive effect on environmental degradation whereas; renewable energy has a negative impact on environmental degradation and help to reduce environmental hazards. Similarly, financial development also has a negative and significant impact on environmental degradation. Furthermore, the Kuznets hypothesis are also tested and found its existence. This study provides valuable policy implications for the government and the policy makers.
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    The role of financial development, R&D expenditure, globalization and institutional quality in energy consumption in India: New evidence from the QARDL approach
    (Academic Press Ltd- Elsevier Science Ltd, 2021) Godil, Danish Iqbal; Sharif, Arshian; Ali, Muhammad Iftikhar; Ozturk, Ilhan; Usman, Rimsha
    The aim of this research is to explore the association between financial development, research and development (R&D) expenditures, globalization, institutional quality, and energy consumption in India by using the quarterly data of 1995-2018. Quantile Autoregressive Distributed Lag (QARDL) approach is employed to examine the relationship. An application of the QARDL approach suggests that the R&D, financial development, globalization, and institutional quality significantly influence energy utilization in India. R&D and institutional quality have a negative effect on energy utilization which shows that due to the increase in the quality of institutions and R&D in the country, energy utilization is likely to decrease. However, globalization and financial performance have a positive influence on energy which depicts that due to the increase in financial performance and globalization in India the energy consumption is likely to increase. According to the outcomes of this research, India should make a policy to ease the penalties of energy utilization by monitoring resource transfer by means of globalization and conversation the advancement of the financial sector.
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    The role of renewable energy and urbanization towards greenhouse gas emission in top Asian countries: Evidence from advance panel estimations
    (Pergamon-Elsevier Science Ltd, 2022) Chien, Fengsheng; Hsu, Ching-Chi; Ozturk, Ilhan; Sharif, Arshian; Sadiq, Muhammad
    The increasing greenhouse gas (GHG) emission and environmental degradation (ED) is a serious concern for the various economies, and a similar issue is observed in Asia. This paper investigated the role of clean energy from renewable sources, urbanization, and economic growth in determining the level of GHG emissions from 1995 to 2018 for ten Asian States through a cross-sectional autoregressive distributed lagged (CS-ARDL) model. Meanwhile, the current research also examined the cross-sectional dependence, unit root properties, and co-integration between the study variables. The study findings confirmed that clean energy and GDP(2) played their constructive role in reducing GHG emissions in the natural environment or targeted economies. In contrast, urbanization and economic growth caused more GHG emissions both in the long and short run. Furthermore, the robust check through augmented mean group (AMG) and common correlated effect means group (CCEMG) also confirmed that clean energy and GDP(2) have a good sign for lowering ED compared to GDP and urbanization. The study findings could support policymakers, specifically in the field of energy economics and environmental sustainability. Therefore, it is highly recommended that some strong policy implications are needed to reduce environmental issues through controlling the negative impact of economic growth and urbanization. This study contributes in the literature of GHG emission with respect to economic growth, urbanization and clean energy and guided the regulators while formulating policies related to control the GHG emission. (c) 2021 Elsevier Ltd. All rights reserved.