References
- Adewuyi, A. O. 2016. “Effects of Public and Private Expenditures on Environmental Pollution: A Dynamic Heterogeneous Panel Data Analysis.” Renewable and Sustainable Energy Reviews 65: 489–506. doi:https://doi.org/10.1016/j.rser.2016.06.090.
- Al-Mulali, U., C. Weng-Wai, L. Sheau-Ting, and A. H. Mohammed. 2015. “Investigating the Environmental Kuznets Curve (EKC) Hypothesis by Utilizing the Ecological Footprint as an Indicator of Environmental Degradation.” Ecological Indicators 48: 315–323. doi:https://doi.org/10.1016/j.ecolind.2014.08.029.
- Aydin, M., and U. K. Pata. 2020. “Are Shocks to Disaggregated Renewable Energy Consumption Permanent or Temporary for the USA? Wavelet Based Unit Root Test with Smooth Structural Shifts.” Energy 207: 118245. doi:https://doi.org/10.1016/j.energy.2020.118245.
- Balaguer, J., and M. Cantavella. 2016. “Estimating the Environmental Kuznets Curve for Spain by Considering Fuel oil Prices (1874–2011).” Ecological Indicators 60: 853–859. doi:https://doi.org/10.1016/j.ecolind.2015.08.006.
- Balsalobre-Lorente, D., N. C. Leitão, and F. V. Bekun. 2021. “Fresh Validation of the low Carbon Development Hypothesis Under the EKC Scheme in Portugal, Italy, Greece and Spain.” Energies 14 (1): 250. doi:https://doi.org/10.3390/en14010250.
- Balsalobre-Lorente, D., M. Shahbaz, D. Roubaud, and S. Farhani. 2018. “How Economic Growth, Renewable Electricity and Natural Resources Contribute to CO2 Emissions?” Energy Policy 113: 356–367. doi:https://doi.org/10.1016/j.enpol.2017.10.050.
- Balsalobre-Lorente, D., A. Sinha, O. M. Driha, and M. S. Mubarik. 2021. “Assessing the Impacts of Ageing and Natural Resource Extraction on Carbon Emissions: A Proposed Policy Framework for European Economies.” Journal of Cleaner Production 296: 126470. doi:https://doi.org/10.1016/j.jclepro.2021.126470.
- Becker, R., W. Enders, and J. Lee. 2006. “A Stationarity Test in the Presence of an Unknown Number of Smooth Breaks.” Journal of Time Series Analysis 27 (3): 381–409. doi:https://doi.org/10.1111/j.1467-9892.2006.00478.x.
- Bernauer, T., and V. Koubi. 2006. “States as Providers of Public Goods: How Does Government Size Affect Environmental Quality?” Available at SSRN 900487.
- Bernauer, T., and V. Koubi. 2013. “Are Bigger Governments Better Providers of Public Goods? Evidence from Air Pollution.” Public Choice 156 (3): 593–609. doi:https://doi.org/10.1007/s11127-012-9916-1.
- Bolt, J., R. Inklaar, H. de Jong, and J. van Zanden. 2018. “Rebasing’ Maddison': New Income Comparisons and the Shape of Long-Run Economic Development (No. GD-174).” Groningen Growth and Development Centre, University of Groningen. https://www.rug.nl/ggdc/html_publications/memorandum/gd174.pdf.
- BP. 2020. “BP Statistical Review of World Energy 2019.” https://www.bp.com/content/dam/bp/business-sites/en/global/corporate/xlsx/energy-economics/statistical-review/bp-stats-review-2020-all-data.xlsx.
- Breitung, J., and B. Candelon. 2006. “Testing for Short- and Long-run Causality: A Frequency-Domain Approach.” Journal of Econometrics 132 (2): 363–378. doi:https://doi.org/10.1016/j.jeconom.2005.02.004.
- Calbick, K. S., and T. Gunton. 2014. “Differences among OECD Countries’ GHG Emissions: Causes and Policy Implications.” Energy Policy 67: 895–902. doi:https://doi.org/10.1016/j.enpol.2013.12.030.
- CDIAC. 2018. “Carbon Dioxide Information Analysis Center. Global, Regional, and National Annual Time Series.” https://cdiac.ess-dive.lbl.gov/trends/emis/overview_2014.html.
- Chishti, M. Z., M. Ahmad, A. Rehman, and M. K. Khan. 2021. “Mitigations Pathways Towards Sustainable Development: Assessing the Influence of Fiscal and Monetary Policies on Carbon Emissions in BRICS Economies.” Journal of Cleaner Production, 126035. doi:https://doi.org/10.1016/j.jclepro.2021.126035.
- Churchill, S. A., J. Inekwe, K. Ivanovski, and R. Smyth. 2018. “The Environmental Kuznets Curve in the OECD: 1870–2014.” Energy Economics 75: 389–399. doi:https://doi.org/10.1016/j.eneco.2018.09.004.
- Churchill, S. A., J. Inekwe, R. Smyth, and X. Zhang. 2019. “R&D Intensity and Carbon Emissions in the G7: 1870–2014.” Energy Economics 80: 30–37. doi:https://doi.org/10.1016/j.eneco.2018.12.020.
- Destek, M. A., M. Shahbaz, I. Okumus, S. Hammoudeh, and A. Sinha. 2020. “The Relationship between Economic Growth and Carbon Emissions in G-7 Countries: Evidence from Time-Varying Parameters with a Long History.” Environmental Science and Pollution Research 27: 29100–29117. doi:https://doi.org/10.1007/s11356-020-09189-y.
- Dickey, D. A., and W. A. Fuller. 1981. “Likelihood Ratio Statistics for Autoregressive Time Series with a Unit Root.” Econometrica: Journal of the Econometric Society 49 (4): 1057–1072. doi:https://doi.org/10.2307/1912517.
- Dolado, J. J., and H. Lütkepohl. 1996. “Making Wald Tests Work for Cointegrated VAR Systems.” Econometric Reviews 15 (4): 369–386. doi:https://doi.org/10.1080/07474939608800362.
- Eroglu, B. A., and B. Soybilgen. 2018. “On the Performance of Wavelet Based Unit Root Tests.” Journal of Risk and Financial Management 11 (3): 47. doi:https://doi.org/10.3390/jrfm11030047.
- Fullerton, D., and S. R. Kim. 2008. “Environmental Investment and Policy with Distortionary Taxes, and Endogenous Growth.” Journal of Environmental Economics and Management 56 (2): 141–154. doi:https://doi.org/10.1016/j.jeem.2008.02.001.
- Geweke, J. 1982. “Measurement of Linear Dependence and Feedback between Multiple Time Series.” Journal of the American Statistical Association 77 (378): 304–313.
- Granger, C. W. 1969. “Investigating Causal Relations by Econometric Models and Cross-Spectral Methods.” Econometrica: Journal of the Econometric Society 37 (3): 424–438. doi:https://doi.org/10.2307/1912791.
- Grossman, G. M., and A. B. Krueger. 1991. “Environmental impacts of a North American free trade agreement.” (No. w3914). National Breau of Economic Research.
- Hacker, R. S., and A. Hatemi-J. 2006. “Tests for Causality between Integrated Variables Using Asymptotic and Bootstrap Distributions: Theory and Application.” Applied Economics 38 (13): 1489–1500. doi:https://doi.org/10.1080/00036840500405763.
- Hajko, V., M. Sebri, M. Al-Saidi, and D. Balsalobre-Lorente. 2018. “The Energy-Growth Nexus: History, Development, and New Challenges.” In The Economics and Econometrics of the Energy-Growth Nexus, 1–46. Academic Press. doi:https://doi.org/10.1016/B978-0-12-812746-9.00001-8.
- Halkos, G. E., and E. A. Paizanos. 2013. “The Effect of Government Expenditure on the Environment: An Empirical Investigation.” Ecological Economics 91: 48–56. doi:https://doi.org/10.1016/j.ecolecon.2013.04.002.
- Halkos, G. E., and E. A. Paizanos. 2016. “The Effects of Fiscal Policy on CO2 Emissions: Evidence from the U.S.A..” Energy Policy 88: 317–328. doi:https://doi.org/10.1016/j.enpol.2015.10.035.
- Halkos, G. E., and E. A. Paizanos. 2017. “The Channels of the Effect of Government Expenditure on the Environment: Evidence Using Dynamic Panel Data.” Journal of Environmental Planning and Management 60 (1): 135–157. doi:https://doi.org/10.1080/09640568.2016.1145107.
- Hatemi-J, A. 2003. “A new Method to Choose Optimal lag Order in Stable and Unstable VAR Models.” Applied Economics Letters 10 (3): 135–137. doi:https://doi.org/10.1080/1350485022000041050.
- Hatemi-J, A. 2012. “Asymmetric Causality Tests with an Application.” Empirical Economics 43 (1): 447–456. doi:https://doi.org/10.1007/s00181-011-0484-x.
- Hosoya, Y. 1991. “The Decomposition and Measurement of the Interdependency between Second-Order Stationary Processes.” Probability Theory and Related Fields 88 (4): 429–444. doi:https://doi.org/10.1007/BF01192551.
- Hua, Y., R. Xie, and Y. Su. 2018. “Fiscal Spending and Air Pollution in Chinese Cities: Identifying Composition and Technique Effects.” China Economic Review 47: 156–169. doi:https://doi.org/10.1016/j.chieco.2017.09.007.
- Huang, J. T. 2018. “Sulfur Dioxide (SO2) Emissions and Government Spending on Environmental Protection in China - Evidence from Spatial Econometric Analysis.” Journal of Cleaner Production 175: 431–441. doi:https://doi.org/10.1016/j.jclepro.2017.12.001.
- Isik, C., M. Ahmad, U. K. Pata, S. Ongan, M. Radulescu, F. F. Adedoyin, E. Bayraktaroglu, S. Aydin, and A. Ongan. 2020. “An Evaluation of the Tourism-Induced Environmental Kuznets Curve (T-EKC) Hypothesis: Evidence from G7 Countries.” Sustainability 12 (21): 9150. doi:https://doi.org/10.3390/su12219150.
- Islam, A. M., and R. E. Lopez. 2015. “Government Spending and Air Pollution in the US.” International Review of Environmental and Resource Economics 8: 139–189. doi:https://doi.org/10.1561/101.00000068.
- Jorda, O., M. Schularick, and A. M. Taylor. 2017. “Macrofinancial History and the New Business Cycle Facts.” NBER Macroeconomics Annual 31 (1): 213–263. doi:https://doi.org/10.1086/690241.
- Katircioglu, S., and S. Katircioglu. 2018. “Testing the Role of Fiscal Policy in the Environmental Degradation: The Case of Turkey.” Environmental Science and Pollution Research 25 (6): 5616–5630. doi:https://doi.org/10.1007/s11356-017-0906-1.
- Le, H. P., and I. Ozturk. 2020. “The Impacts of Globalization, Financial Development, Government Expenditures, and Institutional Quality on CO2 Emissions in the Presence of Environmental Kuznets Curve.” Environmental Science and Pollution Research 27: 22680–22697. doi:https://doi.org/10.1007/s11356-020-08812-2.
- Liu, Y., L. Han, Z. Yin, and K. Luo. 2017. “A Competitive Carbon Emissions Scheme with Hybrid Fiscal Incentives: The Evidence from a Taxi Industry.” Energy Policy 102: 414–422. doi:https://doi.org/10.1016/j.enpol.2016.12.038.
- Liu, S., and P. Molenaar. 2016. “Testing for Granger Causality in the Frequency Domain: A Phase Resampling Method.” Multivariate Behavioral Research 51 (1): 53–66. doi:https://doi.org/10.1080/00273171.2015.1100528.
- Lopez, R., G. I. Galinato, and A. Islam. 2011. “Fiscal Spending and the Environment: Theory and Empirics.” Journal of Environmental Economics and Management 62 (2): 180–198. doi:https://doi.org/10.1016/j.jeem.2011.03.001.
- Lopez, R., and A. Palacios. 2014. “Why Has Europe Become Environmentally Cleaner? Decomposing the Roles of Fiscal, Trade and Environmental Policies.” Environmental and Resource Economics 58 (1): 91–108. doi:https://doi.org/10.1007/s10640-013-9692-5.
- Mohammed Saud, M. A., P. Guo, I. U. Haq, G. Pan, and A. Khan. 2019. “Do Government Expenditure and Financial Development Impede Environmental Degradation in Venezuela?” PLoS ONE 14 (1): e0210255. doi:https://doi.org/10.1371/journal.pone.0210255.
- Moshiri, S., and A. Daneshmand. 2020. “How Effective Is Government Spending on Environmental Protection in a Developing Country?” Journal of Economic Studies 47 (4): 789–803. doi:https://doi.org/10.1108/JES-12-2018-0458.
- Nasir, M. A., N. P. Canh, and T. N. L. Le. 2021. “Environmental Degradation & Role of Financialisation, Economic Development, Industrialisation and Trade Liberalisation.” Journal of Environmental Management 277: 111471. doi:https://doi.org/10.1016/j.jenvman.2020.111471.
- Nasir, M. A., T. L. D. Huynh, and H. T. X. Tram. 2019. “Role of Financial Development, Economic Growth & Foreign Direct Investment in Driving Climate Change: A Case of Emerging ASEAN.” Journal of Environmental Management 242: 131–141. doi:https://doi.org/10.1016/j.jenvman.2019.03.112.
- Nguyen, D. K., T. L. D. Huynh, and M. A. Nasir. 2021. “Carbon Emissions Determinants and Forecasting: Evidence from G6 Countries.” Journal of Environmental Management 285: 111988. doi:https://doi.org/10.1016/j.jenvman.2021.111988.
- Pata, U. K. 2018. “The Influence of Coal and Noncarbohydrate Energy Consumption on CO2 Emissions: Revisiting the Environmental Kuznets Curve Hypothesis for Turkey.” Energy 160: 1115–1123. doi:https://doi.org/10.1016/j.energy.2018.07.095.
- Pata, U. K., and A. E. Caglar. 2021. “Investigating the EKC Hypothesis with Renewable Energy Consumption, Human Capital, Globalization and Trade Openness for China: Evidence from Augmented ARDL Approach with a Structural Break.” Energy 216: 119220. doi:https://doi.org/10.1016/j.energy.2020.119220.
- Pata, U. K., and V. Yilanci. 2020. “Financial Development, Globalization and Ecological Footprint in G7: Further Evidence from Threshold Cointegration and Fractional Frequency Causality Tests.” Environmental and Ecological Statistics 27 (4): 803–825. doi:https://doi.org/10.1007/s10651-020-00467-z.
- Perron, P. 1989. “The Great Crash, the oil Price Shock, and the Unit Root Hypothesis.” Econometrica: Journal of the Econometric Society 57 (6): 1361–1401. doi:https://doi.org/10.2307/1913712.
- Pham, N. M., T. L. D. Huynh, and M. A. Nasir. 2020. “Environmental Consequences of Population, Affluence and Technological Progress for European Countries: A Malthusian View.” Journal of Environmental Management 260: 110143. doi:https://doi.org/10.1016/j.jenvman.2020.110143.
- Phillips, P. C., S. Shi, and J. Yu. 2015. “Testing for Multiple Bubbles: Historical Episodes of Exuberance and Collapse in the S&P 500.” International Economic Review 56 (4): 1043–1078. doi:https://doi.org/10.1111/iere.12132.
- Piaggio, M., E. Padilla, and C. Román. 2017. “The Long-Term Relationship Between CO2 Emissions and Economic Activity in a Small Open Economy: Uruguay 1882–2010.” Energy Economics 65: 271–282. doi:https://doi.org/10.1016/j.eneco.2017.04.014.
- Raza, S. A., and N. Shah. 2018. “Testing Environmental Kuznets Curve Hypothesis in G7 Countries: The Role of Renewable Energy Consumption and Trade.” Environmental Science and Pollution Research 25 (27): 26965–26977. doi:https://doi.org/10.1007/s11356-018-2673-z.
- Shahbaz, M., M. A. Nasir, E. Hille, and M. K. Mahalik. 2020. “UK’s Net-Zero Carbon Emissions Target: Investigating the Potential Role of Economic Growth, Financial Development, and R&D Expenditures Based on Historical Data (1870–2017).” Technological Forecasting and Social Change 161: 120255. doi:https://doi.org/10.1016/j.techfore.2020.120255.
- Shahbaz, M., M. A. Nasir, and D. Roubaud. 2018. “Environmental Degradation in France: The Effects of FDI, Financial Development, and Energy Innovations.” Energy Economics 74: 843–857. doi:https://doi.org/10.1016/j.eneco.2018.07.020.
- Shahbaz, M., M. Shafiullah, V. G. Papavassiliou, and S. Hammoudeh. 2017. “The CO2–Growth Nexus Revisited: A Nonparametric Analysis for the G7 Economies Over Nearly Two Centuries.” Energy Economics 65: 183–193. doi:https://doi.org/10.1016/j.eneco.2017.05.007.
- Shahbaz, M., and A. Sinha. 2019. “Environmental Kuznets Curve for CO2 Emissions: A Literature Survey.” Journal of Economic Studies 46 (1): 106–168. doi:https://doi.org/10.1108/JES-09-2017-0249.
- Shukla, P. R., J. Skea, E. Calvo Buendia, V. Masson-Delmotte, H.-O. Pörtner, D. C. Roberts, P. Zhai, et al. 2019. Climate Change and Land: An IPCC Special Report on Climate Change, Desertification, Land Degradation, Sustainable Land Management, Food Security, and Greenhouse Gas Fluxes in Terrestrial Ecosystems. Geneva, Switzerland: IPCC.
- Stokes, P. A., and P. L. Purdon. 2017. “A Study of Problems Encountered in Granger Causality Analysis from a Neuroscience Perspective.” Proceedings of the National Academy of Sciences 114 (34): E7063–E7072. doi:https://doi.org/10.1073/pnas.1704663114.
- Toda, H. Y., and T. Yamamoto. 1995. “Statistical Inference in Vector Autoregressions with Possibly Integrated Processes.” Journal of Econometrics 66 (1-2): 225–250. doi:https://doi.org/10.1016/0304-4076(94)01616-8.
- Uddin, M. M., V. Mishra, and R. Smyth. 2020. “Income Inequality and CO2 Emissions in the G7, 1870–2014: Evidence from non-Parametric Modelling.” Energy Economics 88: 104780. doi:https://doi.org/10.1016/j.eneco.2020.104780.
- World Bank. 2020. “World Development Indicators Online Database.” https://databank.worldbank.org/source/world-development-indicators.
- World Health Organization. 2014. “Quantitative Risk Assessment of the Effects of Climate Change on Selected Causes of Death, 2030s and 2050s.” https://apps.who.int/iris/bitstream/handle/10665/134014/9789241507691_eng.pdf.
- Yao, Y., K. Ivanovski, J. Inekwe, and R. Smyth. 2020. “Human Capital and CO2 Emissions in the Long run.” Energy Economics 91: 104907. doi:https://doi.org/10.1016/j.eneco.2020.104907.
- Yazgan, M. E., and H. Ozkan. 2015. “Detecting Structural Changes Using Wavelets.” Finance Research Letters 12: 23–37. doi:https://doi.org/10.1016/j.frl.2014.12.003.
- Youssef, A. B., S. Boubaker, and A. Omri. 2020. “Financial Development and Macroeconomic Sustainability: Modeling Based on a Modified Environmental Kuznets Curve.” Climatic Change 163 (2): 767–785. doi:https://doi.org/10.1007/s10584-020-02914-z.
- Zaidi, S. A. H., M. W. Zafar, M. Shahbaz, and F. Hou. 2019. “Dynamic Linkages between Globalization, Financial Development and Carbon Emissions: Evidence from Asia Pacific Economic Cooperation Countries.” Journal of Cleaner Production 228: 533–543. doi:https://doi.org/10.1016/j.jclepro.2019.04.210.
- Zhang, Q., S. Zhang, Z. Ding, and Y. Hao. 2017. “Does Government Expenditure Affect Environmental Quality? Empirical Evidence Using Chinese City-Level Data.” Journal of Cleaner Production 161: 143–152. doi:https://doi.org/10.1016/j.jclepro.2017.05.096.
- Zivot, E., and D. W. K. Andrews. 1992. “Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis.” Journal of Business & Economic Statistics 10 (3): 25–44. doi:https://doi.org/10.1198/073500102753410372.