世界経済・社会統計 = World development indicators

Digitalization and energy: How does internet development affect China's energy consumption?

Achieving carbon neutral requires a comprehensive understanding of the effect of different key factors on carbon emissions. To this end, this study investigates the effect of trade openness, human capital, renewable energy and natural resource rent on carbon emissions within the framework of the environmental Kuznets curve (EKC) hypothesis. Second-generation econometric tests, Generalized Method of Moments and Fully Modified Ordinary Least Squares estimator were developed based on the aggregated dataset of 208 countries from 1990 to 2018. The results show that (i) the EKC hypothesis is validated when the effects of trade openness, human capital, renewable energy consumption, and natural resource rents are considered. The relationship between income level and carbon emissions shows an "inverted U-shaped" curve at the global level. Besides, the real GDP per capita corresponding to the EKC turning point is 19,203$. (ii) Renewable energy consumption and human capital have heterogeneous effects on carbon emissions in before- and after-EKC turning points. Specifically, renewable energy consumption has a better emission reduction effect for countries before the EKC turning point, with effects of -0.4334 and -0.1598, respectively; human capital has a better emission reduction effect for countries after the EKC turning point, with effects of -0.6311 and -0.3398, respectively.(iii) the mitigation effect of trade openness on carbon emissions is only effective in countries with weak decoupling after EKC turning points, with a mitigating effect of -0.0615. However, natural resource rents increase carbon emissions in most countries. 

Revisiting the environmental kuznets curve hypothesis in 208 counties: The roles of trade openness, human capital, renewable energy and natural resource rent.

Examining the impact of ICT, human capital and carbon emissions: Evidence from the ASEAN economies

By blending seminal literature on non-spatial stochastic frontier models with key contributions to spatial econometrics we develop a spatial autoregressive (SAR) sto- chastic frontier model for panel data. The specification of the SAR frontier allows efficiency to vary over time and across the cross-sections. Efficiency is calculated from a composed error structure by assuming a half-normal distribution for inefficiency. The spatial frontier is estimated using maximum likelihood methods taking into account the endogenous SAR variable. We apply our spatial estimator to an aggregate production frontier for 41 European countries over the period 1990-2011. In the application section, the fitted SAR stochastic frontier specification is used to discuss, among other things, the asymmetry between efficiency spillovers to and from a country.

A Spatial Autoregressive Stochastic Frontier Model for Panel Data with Asymmetric Efficiency Spillovers

This study examines the effects of human capital formation and Internet penetration on economic growth. The Internet encourages economic growth by providing innovative applications and opportunitie...

Internet penetration, human capital and economic growth in the ASEAN economies: evidence from a translog production function

This study investigates the role of financial and institutional development on economic growth in the Association of Southeast Asian Nations (ASEAN) economies from 1995 to 2017 using a dynamic panel estimator. Financial development is instrumental in promoting economic growth; however, the effect of financial institutions and financial markets can differ. In recent years, the ASEAN economies have launched financial and institutional integration initiatives towards the goal of an integrated ASEAN Economic Community, which can have a profound impact on economic growth. The estimated results show that financial institutions are positive and significant towards economic growth, while financial markets are insignificant. Equally important, institutional quality plays a significant and positive role in economic growth. More interestingly, the study finds that institutional development is complementary to financial institutions and markets. Member states should emphasise on further financial integration across the ASEAN economies, allowing for the development of financial institutions and markets alongside improvements in institutional quality to increase the effectiveness of financial development.

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Examining the relationship between finance, institutions and economic growth: evidence from the ASEAN economies

This study examines the effects of public health and education expenditures on economic growth using a panel dataset of Chinese provinces from 1996 to 2015. Provincial and local governments in Chin...

Spatial spillover effects of public health and education expenditures on economic growth: evidence from China’s provinces

This study re-examines the impact of financial structure on economic growth for 24 advanced OECD countries from 1980 to 2017 using dynamic panel estimators. Previous literature suggests that financial development can promote economic growth; however, recent literature has expressed skepticism toward the finance-growth nexus. This paper employs financial development indices that capture the multidimensional nature of finance, which considers the accessibility, depth and efficiency of financial markets and institutions, as well as alternative financial development measures such as financial globalisation. The results show that financial markets and financial institutions promote economic growth; however, the effect of financial markets on growth is weaker. Interestingly, the results indicate an inverse U-shaped relationship between overall financial development and economic growth. Equally important, financial globalisation is also positive and significant to growth and indicates a nonlinear relationship. However, the impact of external finance from financial globalisation is weaker compared with overall financial development. Policy implications are discussed.

Hazwan Haini

Papers

Examining the impact of ICT, human capital and carbon emissions: Evidence from the ASEAN economies

Internet penetration, human capital and economic growth in the ASEAN economies: evidence from a translog production function

Examining the relationship between finance, institutions and economic growth: evidence from the ASEAN economies

Spatial spillover effects of public health and education expenditures on economic growth: evidence from China’s provinces

Re-examining the effect of financial markets and institutions on economic growth: evidence from the OECD countries