Energy and Environmental Strategies in the Era of Globalization (Green Energy and Technology)

This book provides readers with cutting-edge techniques that can be applied to energy and environmental economics. Further, it highlights the effects that both globalization and economic growth have on the environment. In addition to offering a broader perspective on the relationship between environmental pollution, energy consumption and economic growth, the book studies the relationship between economic growth and environmental damage by drawing on the theoretical hypothesis of the Environmental Kuznets Curve. The book presents new econometric techniques and innovative approaches to the study of the energy economy. Accordingly, it can be used to help analyse the current state of the energy economy, the environment and globalization, and can serve as a theoretical reference manual for doctoral students and academics seeking new analytical techniques. Chapter "How Total Factor Productivity Drives Long-Run Energy Consumption in Saudi Arabia" is available open access under a Creative Commons Attribution 4.0 International License via link.springer.com Contents 6 The Long-Term Effect of Economic Growth, Energy Innovation, Energy Use on Environmental Quality 8 1 Introduction 9 2 Literature Review 10 3 Empirical Model 13 4 Discussion of Results 25 5 Conclusions and Policy Implications 35 References 36 Investigating the Trans-boundary of Air Pollution Between the BRICS and Its Neighboring Countries: An Empirical Analysis 42 1 Introduction 42 2 Data and Methodology 48 3 Empirical Results 55 4 Discussion of Results 63 5 Conclusion and Policy Implications 64 References 65 Testing the Environmental Kuznets Curve Hypothesis: The Role of Deforestation 67 1 Introduction 68 2 Data, Model Specification, and Methodology 77 2.1 Panel Unit Root Tests 78 2.2 Panel Cointegration Test 78 2.3 Estimating the Cointegration Relationship with Weighted FMOLS 79 2.4 Panel Granger Causality Tests 80 2.5 Cross-Sectional Dependence Test 80 3 Empirical Results 81 4 Conclusion 84 References 85 Rediscovering the EKC Hypothesis on the High and Low Globalized OECD Countries 90 1 Introduction 91 2 Debate 93 2.1 Decomposition: Efficiency Index 93 2.2 Environmental Kuznets Curve 94 3 Data and Methodology 96 3.1 Data 97 3.2 Methodology 101 4 Results 108 5 Discussion 111 6 Conclusion 114 References 114 Financial Development and Environmental Degradation in Emerging Economies 120 1 Introduction 120 2 Literature Review 121 3 Empirical Strategy 124 3.1 Model and Data 124 3.2 Methodology 125 4 Institutional Background 128 5 Empirical Results 130 6 Conclusions and Policy Implications 134 References 135 Implications of Environmental Convergence: Continental Evidence Based on Ecological Footprint 138 1 Introduction 139 2 Data, Methodology and Application Results 143 3 Empirical Facts Underpinning the Panel Estimation Outputs 152 4 Conclusion and Policy Recommendations 161 References 167 Impact of Trade Inequality on Environmental Quality: A Global Assessment 171 1 Introduction 171 2 Literature Review 174 2.1 Globalization and CO2 Emissions 174 2.2 Trade and CO2 Emissions 174 3 Empirical Model and Data 175 4 Results and Discussion 178 5 Conclusion 192 Appendix 193 References 196 How Total Factor Productivity Drives Long-Run Energy Consumption in Saudi Arabia 199 1 Introduction 200 2 Literature Review 201 3 Theoretical Framework 203 3.1 TFP Calculation 203 3.2 Energy Consumption Modeling 204 4 Econometric Methodology 205 5 Data 206 6 Empirical Analysis 208 6.1 The Unit Root Test Results 208 6.2 The Results from the Cointegration Tests and Long-Run Estimations 210 6.3 Constructing TFP Series 212 7 An Empirical Analysis of Energy Consumption 213 7.1 The Results from ARDL Method 213 7.2 The Results from the Johansen Method 214 8 Discussion 216 8.1 Unit Root and Cointegration 216 8.2 Production Function, TFP Calculation, and Growth Accounting 217 8.3 Energy Consumption and TFP 219 9 Conclusions and Policy Insights 221 References 221 Ecological Innovation Efforts and Performances: An Empirical Analysis 225 1 Introduction 225 2 Theoretical Background 227 2.1 Definition and Types of Eco-innovation 227 2.2 Economics Approaches to Eco-innovation 230 2.3 Literature Review 231 2.4 Eco-innovation Policies in European Union 237 3 Empirical Analysis 240 3.1 Methodology and Data 240 3.2 Results 244 4 Conclusions 250 References 252 Globalization and CO2 Emissions: Addressing an Old Question with New Techniques 255 1 Introduction 256 2 Literature Review 257 3 Econometric Methodology 259 4 Empirical Results 262 5 Concluding Remarks 269 Appendix 271 References 271 The Role of Energy Innovation and Corruption in Carbon Emissions: Evidence Based on the EKC Hypothesis 275 1 Introduction 276 2 Literature Review 277 3 Empirical Model 282 4 Empirical Approach 285 5 Empirical Results 291 6 Conclusion and Policy Implications 301 Appendix 302 References 303 Energy Efficiency in Europe; Stochastic-Convergent and Non-Convergent Countries 309 1 Introduction 310 2 Energy Efficiency in Europe 311 3 Literature Review 313 4 Data and Methodology 321 4.1 Data 322 4.2 Methodology 322 5 Empirical Analysis and Results 327 5.1 Panel Unit Root Tests 327 5.2 Time Series Unit Root Results for Individual Countries 328 5.3 Club Convergence 328 6 Discussion 329 7 Conclusion 332 References 333 European Commission’s Energy and Climate Policy Framework 338 1 Introduction 338 2 The Energy Efficiency Directive 339 3 Literature Review 342 4 Descriptive Statistics 344 5 Data and Empirical Methodology 352 5.1 Data 352 5.2 Empirical Methodology 352 6 Method of Estimations and Empirical Results 353 6.1 Method of Estimations 353 6.2 Empirical Results 354 7 Discussion and Policy Implications 360 References 361 Does Technological Progress Provide a Win–Win Situation in Energy Consumption? The Case of Ghana 365 1 Introduction 365 2 Method and Data 369 2.1 Empirical Model 369 2.2 Empirical and Econometric Strategy 370 2.3 Data and Variable Description 372 3 Discussion of Results 372 3.1 Preliminary Test of the Data 372 3.2 Long-Run Estimates—Actual Energy Consumption 373 3.3 Long-Run Estimates—Potential Energy Consumption 379 3.4 Diagnostics 381 4 Closing Remarks 383 References 385 Asian Energy and Environmental Challenges in Era of Globalization: The Case of LNG 388 1 Introduction 389 2 Recent Trends in the LNG Industry 389 2.1 The Global LNG Market 391 2.2 Asia-Pacific Market 394 3 Trade—Pricing of LNG and Contracts 397 3.1 The LNG Pricing 398 3.2 The Different Asian Markets for LNG 400 3.3 LNG Contracts 401 4 Globalization 407 4.1 Definition of Globalization 408 4.2 Reasons of Globalization 408 4.3 Towards Establishing an LNG Hub in Asia? 409 4.4 Gas Price Convergence Within Regions: True or False? 409 4.5 The Gas Market Is Globalizing 412 5 Environmental Aspects of LNG 414 5.1 Natural Gas, Energy of the Twenty-First Century? 414 5.2 Natural Gas/LNG as a Bridge Fuel? 416 5.3 LNG and Its Comparative Environmental Advantages 417 5.4 The Role of LNG in the Energy Mix 417 5.5 Environmental Risks and Popular Concerns Related to Shale Gas 423 6 Concluding Remarks 424 Appendices 432 References 437 Front Matter ....Pages i-vi The Long-Term Effect of Economic Growth, Energy Innovation, Energy Use on Environmental Quality (Daniel Balsalobre-Lorente, Agustín Álvarez-Herranz, Muhammad Shahbaz)....Pages 1-34 Investigating the Trans-boundary of Air Pollution Between the BRICS and Its Neighboring Countries: An Empirical Analysis (Ilhan Ozturk, Usama Al-Mulali)....Pages 35-59 Testing the Environmental Kuznets Curve Hypothesis: The Role of Deforestation (Korhan K. Gokmenoglu, Godwin Oluseye Olasehinde-Williams, Nigar Taspinar)....Pages 61-83 Rediscovering the EKC Hypothesis on the High and Low Globalized OECD Countries (Patrícia Alexandra Leal, António Cardoso Marques)....Pages 85-114 Financial Development and Environmental Degradation in Emerging Economies (Mehmet Akif Destek)....Pages 115-132 Implications of Environmental Convergence: Continental Evidence Based on Ecological Footprint (Faik Bilgili, Recep Ulucak, Emrah Koçak)....Pages 133-165 Impact of Trade Inequality on Environmental Quality: A Global Assessment (Avik Sinha)....Pages 167-194 How Total Factor Productivity Drives Long-Run Energy Consumption in Saudi Arabia (Fakhri J. Hasanov, Brantley Liddle, Jeyhun I. Mikayilov, Carlo Andrea Bollino)....Pages 195-220 Ecological Innovation Efforts and Performances: An Empirical Analysis (Ferit Kula, Fatma Ünlü)....Pages 221-250 Globalization and CO2 Emissions: Addressing an Old Question with New Techniques (Victor Troster, Muhammad Shahbaz)....Pages 251-270 The Role of Energy Innovation and Corruption in Carbon Emissions: Evidence Based on the EKC Hypothesis (Daniel Balsalobre-Lorente, Muhammad Shahbaz, Charbel Jose Chiappetta Jabbour, Oana M. Driha)....Pages 271-304 Energy Efficiency in Europe; Stochastic-Convergent and Non-Convergent Countries (Angeliki Menegaki, Aviral K. Tiwari)....Pages 305-333 European Commission’s Energy and Climate Policy Framework (Michael L. Polemis, Panagiotis Fotis)....Pages 335-361 Does Technological Progress Provide a Win–Win Situation in Energy Consumption? The Case of Ghana (Philip Kofi Adom, Paul Adjei Kwakwa)....Pages 363-385 Asian Energy and Environmental Challenges in Era of Globalization: The Case of LNG (Sofiane Oudjida)....Pages 387-439