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  1. Book ; Online: A Macroeconometric Model for Saudi Arabia

    Hasanov, Fakhri J / Joutz, Frederick L / Mikayilov, Jeyhun I / Javid, Muhammad

    A Case Study on the World's Largest Oil Exporter

    (SpringerBriefs in Economics)

    2023  

    Series title SpringerBriefs in Economics
    Keywords Econometrics ; Macroeconomics ; Environmental economics ; Energy technology & engineering ; Saudi Arabia ; Macroeconometric model ; Equilibrium correction modeling ; Autometrics ; General-to-specific modeling strategy ; Energy price reform ; Saudi Vision 2030
    Language English
    Size 1 electronic resource (169 pages)
    Publisher Springer Nature
    Publishing place Cham
    Document type Book ; Online
    Note English
    HBZ-ID HT030379650
    ISBN 9783031122750 ; 3031122755
    Database ZB MED Catalogue: Medicine, Health, Nutrition, Environment, Agriculture

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  2. Book ; Online: A Macroeconometric Model for Saudi Arabia

    Hasanov, Fakhri J. / Joutz, Frederick L. / Mikayilov, Jeyhun I. / Javid, Muhammad

    A Case Study on the World’s Largest Oil Exporter

    (SpringerBriefs in Economics)

    2023  

    Author's details by Fakhri J. Hasanov, Frederick L. Joutz, Jeyhun I. Mikayilov, Muhammad Javid
    Series title SpringerBriefs in Economics
    Keywords Econometrics ; Macroeconomics ; Power resources ; Environmental economics ; Energy policy ; Energy and state
    Subject code 330.015195
    Language English
    Size 1 Online-Ressource (XI, 169 p. 16 illus., 14 illus. in color)
    Edition 1st ed. 2023
    Publisher Springer International Publishing ; Imprint: Springer
    Publishing place Cham
    Document type Book ; Online
    HBZ-ID HT021680309
    ISBN 978-3-031-12275-0 ; 9783031122743 ; 9783031122767 ; 3-031-12275-5 ; 3031122747 ; 3031122763
    DOI 10.1007/978-3-031-12275-0
    Database ZB MED Catalogue: Medicine, Health, Nutrition, Environment, Agriculture

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  3. Article ; Online: Could financial development eliminate energy poverty through renewable energy in Poland?

    Mukhtarov, Shahriyar / Mikayilov, Jeyhun I.

    Energy Policy. 2023 Nov., v. 182 p.113747-

    2023  

    Abstract: To evaluate the success of the realized policies we need to investigate the historical relationships and assess the impacts of different drivers on the indicator being explored. In this regard, considering the undeniable importance of the transition to ... ...

    Abstract To evaluate the success of the realized policies we need to investigate the historical relationships and assess the impacts of different drivers on the indicator being explored. In this regard, considering the undeniable importance of the transition to renewable energy this work empirically explores the behavior of renewable energy consumption in conjunction with its drivers in the case of Poland. Since one of the main difficulties in front of this transition is financing the projects targeting the successful transition, the study explores the impact of financial development on renewable energy consumption. Having a better idea of the relationship between financial development and renewable energy may provide a potential solution for addressing Poland's energy poverty and attaining the country's renewable energy goals. Utilizing different estimation techniques as a robustness check, we found that financial development and economic growth both are in favor of the transition toward renewable energy consumption. These findings allow concluding that the ongoing policy set-up and circumstances driving the economic growth path are recommended options to follow for achieving better well-being and environmentally friendly economic and social development. Moreover, by increasing investment in renewable energy projects, financial institutions can help Poland's citizens have better access to modern energy services and reduce their dependence on fossil fuels.
    Keywords economic development ; energy ; energy policy ; energy poverty ; renewable energy sources ; Poland ; Renewable energy consumption ; Financial development ; Economic growth ; Autometrics
    Language English
    Dates of publication 2023-11
    Publishing place Elsevier Ltd
    Document type Article ; Online
    ISSN 0301-4215
    DOI 10.1016/j.enpol.2023.113747
    Database NAL-Catalogue (AGRICOLA)

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  4. Article ; Online: Estimating different order polynomial logarithmic environmental Kuznets curves.

    Hasanov, Fakhri J / Hunt, Lester C / Mikayilov, Jeyhun I

    Environmental science and pollution research international

    2021  Volume 28, Issue 31, Page(s) 41965–41987

    Abstract: This paper contributes to the environmental literature by (i) demonstrating that the estimated coefficients and the statistical significance of the non-leading terms in quadratic, cubic, and quartic logarithmic environmental Kuznets curve (EKC) ... ...

    Abstract This paper contributes to the environmental literature by (i) demonstrating that the estimated coefficients and the statistical significance of the non-leading terms in quadratic, cubic, and quartic logarithmic environmental Kuznets curve (EKC) specifications are arbitrary and should therefore not be used to choose the preferred specification and (ii) detailing a proposed general-to-specific type methodology for choosing the appropriate specifications when attempting to estimate higher-order polynomials such as cubic and quartic logarithmic EKC relationships. Testing for the existence and shape of the well-known EKC phenomenon is a hot topic in the environmental economics literature. The conventional approach widely employs quadratic and cubic specifications and more recently also the quartic specification, where the variables are in logarithmic form. However, it is important that researchers understand whether the estimated EKC coefficients, turning points, and elasticities are statistically acceptable, economically interpretable, and comparable. In addition, it is vital that researchers have a clear structured non-arbitrary methodology for determining the preferred specification and hence shape of the estimated EKC. We therefore show mathematically and empirically the arbitrary nature of estimated non-leading coefficients in quadratic, cubic, and quartic logarithmic EKC specifications, being dependent upon the units of measurement chosen for the independent variables (e.g. dependent upon a rescaling of the variables such as moving from $m to $bn). Consequently, the practice followed in many previously papers, whereby the estimates of the non-leading terms are used in the decision to choose the preferred specification of an estimated EKC relationship, is incorrect and should not be followed since it potentially could lead to misleading conclusions. Instead, it should be based upon the sign and statistical significance of the estimated coefficients of the leading terms, the location of turning point(s), and the sign and statistical significance of the estimated elasticities. Furthermore, we suggest that researchers should follow a proposed general-to-specific type methodology for choosing the appropriate order of polynomials when attempting to estimate higher-order polynomial logarithmic EKCs.
    MeSH term(s) Algorithms ; Carbon Dioxide ; Economic Development ; Humans
    Chemical Substances Carbon Dioxide (142M471B3J)
    Language English
    Publishing date 2021-04-01
    Publishing country Germany
    Document type Journal Article
    ZDB-ID 1178791-0
    ISSN 1614-7499 ; 0944-1344
    ISSN (online) 1614-7499
    ISSN 0944-1344
    DOI 10.1007/s11356-021-13463-y
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  5. Article ; Online: Forecasting 2030 CO2 reduction targets for Russia as a major emitter using different estimation scenarios

    Gurbanov, Sarvar / Mikayilov, Jeyhun I. / Mukhtarov, Shahriyar / Yagubov, Sakit

    2023  

    Abstract: This study firstly analyzes the impact of energy intensities and income on CO2 emissions in Russia, applying different estimation methods to the data period from 1990 to 2020. In addition, the study forecasts CO2 emissions considering 2030 targets under ... ...

    Abstract This study firstly analyzes the impact of energy intensities and income on CO2 emissions in Russia, applying different estimation methods to the data period from 1990 to 2020. In addition, the study forecasts CO2 emissions considering 2030 targets under different assumptions and assesses the achievability of the set target. The estimation results concluded that the GDP and fossil fuel intensities of GDP have a statistically positive impact on CO2 emissions. Also, we found that the forecasted value for 2030, for the business-as-usual case, is 1750 MtCO2, with 95% confidence interval values of 1703 MtCO2 and 1796 MtCO2. This result shows that Russia needs to undergo substantial policy interventions to achieve its targets to reduce CO2 emissions. As the fifth biggest emitter, Russia missing its emissions targets will have undesirable implications for the rest of the world. Based on the projection results, the paper discusses some potential policy interventions.
    Keywords ddc:330 ; O52 ; O13 ; CO2 emissions ; Russia
    Language English
    Publisher London: Taylor & Francis
    Publishing country de
    Document type Article ; Online
    Database BASE - Bielefeld Academic Search Engine (life sciences selection)

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  6. Article: Higher oil prices, are they good or bad for renewable energy consumption: The case of Iran?

    Mukhtarov, Shahriyar / Mikayilov, Jeyhun I. / Maharramov, Shahin / Aliyev, Javid / Suleymanov, Elchin

    Renewable energy. 2022 Mar., v. 186

    2022  

    Abstract: The transition to renewable energy is key for sustainable development. Therefore, one of the sustainable development goals (SDG) of United Nations (UN) is to shift towards clean energy. However, in many resource-rich countries several factors can stand ... ...

    Abstract The transition to renewable energy is key for sustainable development. Therefore, one of the sustainable development goals (SDG) of United Nations (UN) is to shift towards clean energy. However, in many resource-rich countries several factors can stand as barriers towards the transition process. In this regard, this paper examines the influence of higher oil price, CO₂ emissions, and income on renewable energy consumption in Iran from 1980 to 2019, employing General to Specific (Gets) modeling approach. Estimation results indicated that oil price and CO₂ emissions both have statistically significant and negative impact on renewable energy consumption. The negative influence of higher oil prices on renewable energy consumption may be interpreted as sign of satisfaction coming from higher oil prices, which postpones the transition from traditional energy sources to renewable for Iran. Furthermore, we concluded that income does not have a statistically significant influence on renewable energy use. The paper discusses alternative policies to promote renewable energy consumption.
    Keywords carbon dioxide ; clean energy ; energy ; income ; oils ; prices ; renewable energy sources ; sustainable development ; Iran
    Language English
    Dates of publication 2022-03
    Size p. 411-419.
    Publishing place Elsevier Ltd
    Document type Article
    ZDB-ID 2001449-1
    ISSN 1879-0682 ; 0960-1481
    ISSN (online) 1879-0682
    ISSN 0960-1481
    DOI 10.1016/j.renene.2021.12.135
    Database NAL-Catalogue (AGRICOLA)

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  7. Article: The FDI-CO₂ nexus from the sustainable development perspective: the case of Azerbaijan

    Mukhtarov, Shahriyar / Aliyev, Shahriyar / Mikayilov, Jeyhun I / Ismayilov, Altay / Rzayev, Anar

    international journal of sustainable development and world ecology. 2021 Apr. 03, v. 28, no. 3

    2021  

    Abstract: The current study explores the effect of Foreign Direct Investment (FDI) on CO₂ emissions in Azerbaijan utilizing time series data spanning from 1996 to 2013. The structural time series modeling (STSM) approach is employed in empirical estimations. The ... ...

    Abstract The current study explores the effect of Foreign Direct Investment (FDI) on CO₂ emissions in Azerbaijan utilizing time series data spanning from 1996 to 2013. The structural time series modeling (STSM) approach is employed in empirical estimations. The STSM framework allows parameters to evolve over time. Estimation results show that the coefficients of FDI and income are time-varying. The impact of FDI is positive before 2006 and negative after that year, while the income elasticity is positive for the entire period. The estimated income elasticity allows to conclude that the EKC phenomenon does not hold for the case of Azerbaijan. The different effects of FDI on CO₂ emissions, possible explanations and related policy implications are discussed.
    Keywords carbon dioxide ; ecology ; foreign direct investment ; income ; income elasticities ; issues and policy ; sustainable development ; time series analysis ; Azerbaijan
    Language English
    Dates of publication 2021-0403
    Size p. 246-254.
    Publishing place Taylor & Francis
    Document type Article
    Note NAL-AP-2-clean
    ISSN 1745-2627
    DOI 10.1080/13504509.2020.1804479
    Database NAL-Catalogue (AGRICOLA)

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  8. Article: Estimating different order polynomial logarithmic environmental Kuznets curves

    Hasanov, Fakhri J. / Hunt, Lester C. / Mikayilov, Jeyhun I.

    Environmental science and pollution research. 2021 Aug., v. 28, no. 31

    2021  

    Abstract: This paper contributes to the environmental literature by (i) demonstrating that the estimated coefficients and the statistical significance of the non-leading terms in quadratic, cubic, and quartic logarithmic environmental Kuznets curve (EKC) ... ...

    Abstract This paper contributes to the environmental literature by (i) demonstrating that the estimated coefficients and the statistical significance of the non-leading terms in quadratic, cubic, and quartic logarithmic environmental Kuznets curve (EKC) specifications are arbitrary and should therefore not be used to choose the preferred specification and (ii) detailing a proposed general-to-specific type methodology for choosing the appropriate specifications when attempting to estimate higher-order polynomials such as cubic and quartic logarithmic EKC relationships. Testing for the existence and shape of the well-known EKC phenomenon is a hot topic in the environmental economics literature. The conventional approach widely employs quadratic and cubic specifications and more recently also the quartic specification, where the variables are in logarithmic form. However, it is important that researchers understand whether the estimated EKC coefficients, turning points, and elasticities are statistically acceptable, economically interpretable, and comparable. In addition, it is vital that researchers have a clear structured non-arbitrary methodology for determining the preferred specification and hence shape of the estimated EKC. We therefore show mathematically and empirically the arbitrary nature of estimated non-leading coefficients in quadratic, cubic, and quartic logarithmic EKC specifications, being dependent upon the units of measurement chosen for the independent variables (e.g. dependent upon a rescaling of the variables such as moving from $m to $bn). Consequently, the practice followed in many previously papers, whereby the estimates of the non-leading terms are used in the decision to choose the preferred specification of an estimated EKC relationship, is incorrect and should not be followed since it potentially could lead to misleading conclusions. Instead, it should be based upon the sign and statistical significance of the estimated coefficients of the leading terms, the location of turning point(s), and the sign and statistical significance of the estimated elasticities. Furthermore, we suggest that researchers should follow a proposed general-to-specific type methodology for choosing the appropriate order of polynomials when attempting to estimate higher-order polynomial logarithmic EKCs.
    Keywords environmental Kuznets curve ; pollution ; research
    Language English
    Dates of publication 2021-08
    Size p. 41965-41987.
    Publishing place Springer Berlin Heidelberg
    Document type Article
    ZDB-ID 1178791-0
    ISSN 1614-7499 ; 0944-1344
    ISSN (online) 1614-7499
    ISSN 0944-1344
    DOI 10.1007/s11356-021-13463-y
    Database NAL-Catalogue (AGRICOLA)

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  9. Article: Decoupling of CO2 emissions and GDP: A time-varying cointegration approach

    Mikayilov, Jeyhun I / Hasanov, Fakhri J / Galeotti, Marzio

    Ecological indicators. 2018 Dec., v. 95

    2018  

    Abstract: The relationship between CO2 emissions, the main gas responsible for global warming, and economic growth is among the most studied themes of environmental economics. Reducing overall emissions while keeping a high pace of economic development is at the ... ...

    Abstract The relationship between CO2 emissions, the main gas responsible for global warming, and economic growth is among the most studied themes of environmental economics. Reducing overall emissions while keeping a high pace of economic development is at the heart of the sustainable development concept. When emissions grow less rapidly than GDP environmental economists speak of relative decoupling; if emissions even decrease relative to the pace of economic growth, then decoupling is absolute. Assessing these options requires an empirical analysis of the emissions-GDP relationship. The study of this nexus has special importance for developed countries, given their historical responsibility towards global warming. At the same time, in the last decades, the same countries have been at the forefront of the fight against climate change in terms of emissions-reduction efforts. By applying cutting-edge econometric techniques, this paper aims to investigate the decoupling options, if any, for a group of European economies which can be considered as pioneers in pursuing the sustainable development goals. This question gains further importance considering that some recent studies have found positive GDP elasticities of emissions for certain developed countries, which may be seen as a cause of concern for the sustainable development path of such countries. Unlike the bulk of the literature, in this paper, we allow the income elasticity of emissions – a critical indicator for the study of decoupling – to vary over time. The reason is that the elasticity might change through the time due to the factors affecting the main drivers of the CO2 emissions. We use a time-varying coefficients cointegration approach to investigate the CO2 emissions-GDP relationship for 12 Western European countries over a long time period ranging from 1861 to 2015. Our main finding is that the income elasticity of CO2 emissions is positive in all investigated countries. In addition, we find evidence in favor of relative decoupling in 8 out of the 12 European countries. This is in line with the fact that the selected European countries have shown more determination in adopting carbon reduction policies before and after the Kyoto protocol period and toward the Paris agreement compared to other leading economies such as China, United States, and Russia. For the remaining 4 cases, the income elasticity of CO2 emissions is in excess of unity. This can be considered as a call for policymakers to take quick and relevant measures to mitigate emissions level without harming the economic development.
    Keywords carbon ; carbon dioxide ; developed countries ; economists ; empirical research ; environmental economics ; environmental indicators ; global warming ; greenhouse gas emissions ; income elasticities ; issues and policy ; protocols ; sustainable development ; China ; Russia ; United States ; Western European region
    Language English
    Dates of publication 2018-12
    Size p. 615-628.
    Publishing place Elsevier Ltd
    Document type Article
    ZDB-ID 2036774-0
    ISSN 1872-7034 ; 1470-160X
    ISSN (online) 1872-7034
    ISSN 1470-160X
    DOI 10.1016/j.ecolind.2018.07.051
    Database NAL-Catalogue (AGRICOLA)

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  10. Article: The impact of economic growth on CO2 emissions in Azerbaijan

    Mikayilov, Jeyhun I / Galeotti, Marzio / Hasanov, Fakhri J

    Journal of cleaner production. 2018 Oct. 01, v. 197

    2018  

    Abstract: This paper investigates the relationship between the economic growth and CO2 emissions in Azerbaijan. A cointegration analysis is conducted over the period 1992–2013. For getting more robust results, Johansen, ARDLBT, DOLS, FMOLS and CCR methods are ... ...

    Abstract This paper investigates the relationship between the economic growth and CO2 emissions in Azerbaijan. A cointegration analysis is conducted over the period 1992–2013. For getting more robust results, Johansen, ARDLBT, DOLS, FMOLS and CCR methods are employed to explore cointegration and estimate long-run coefficients. We use cubic, quadratic and linear specifications and conclude that the last one is an adequate representation for the impact of the economic growth on CO2 emissions in Azerbaijan. The results from the different cointegration methods are consistent with each other and show that the economic growth has a positive and statistically significant impact on the emissions in the long-run implying that the EKC hypothesis does not hold for Azerbaijan. The income elasticity of CO2 emissions, using different methods, is found to be between 0.7 and 0.8. Moreover, we find that any short-run imbalance can be adjusted towards the long-run equilibrium path within less than one year. The paper concludes that measures to increase energy efficiency, carbon pricing instruments in production and international-domestic trade activities, and nationwide social awareness programs to instruct about the negative consequences of pollution can be considered as relevant environmental policies aimed at reducing carbon emissions.
    Keywords carbon ; carbon dioxide ; carbon markets ; economic development ; energy efficiency ; environmental policy ; greenhouse gas emissions ; income elasticities ; pollution ; time series analysis ; trade ; Azerbaijan
    Language English
    Dates of publication 2018-1001
    Size p. 1558-1572.
    Publishing place Elsevier Ltd
    Document type Article
    ISSN 0959-6526
    DOI 10.1016/j.jclepro.2018.06.269
    Database NAL-Catalogue (AGRICOLA)

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