Does political stability contribute to environmental sustainability? Evidence from the most politically stable economies
The study evaluates the effect of political risk on CO2 emission in the top 10 most politically stable economies (Australia, Canada, Germany, Finland, Denmark, Norway, Netherlands, New Zealand, Sweden, and Switzerland) from 1991/Q1 and 2019/Q4. To the investigators' understanding, this is the f...
| Main Authors: | , , , , |
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| Format: | Article |
| Language: | English |
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Elsevier
2022-12-01
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| Series: | Heliyon |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S2405844022037677 |
| _version_ | 1828071263162073088 |
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| author | Tomiwa Sunday Adebayo Seyi Saint Akadiri Solomon Eghosa Uhunamure Mehmet Altuntaş Karabo Shale |
| author_facet | Tomiwa Sunday Adebayo Seyi Saint Akadiri Solomon Eghosa Uhunamure Mehmet Altuntaş Karabo Shale |
| author_sort | Tomiwa Sunday Adebayo |
| collection | DOAJ |
| description | The study evaluates the effect of political risk on CO2 emission in the top 10 most politically stable economies (Australia, Canada, Germany, Finland, Denmark, Norway, Netherlands, New Zealand, Sweden, and Switzerland) from 1991/Q1 and 2019/Q4. To the investigators' understanding, this is the first empirical analysis that inspects the effect of political risk on CO2 emissions in the top 10 most politically stable economies. Therefore, the current paper fills a gap in the existing literature. Innovative quantile-on-quantile regression and quantile causality approaches are applied to explore this nexus. The quantile-on-quantile regression results reveal that in the majority of the quantiles, political risk enhances environmental quality for the case of Norway, Sweden, Canada, and Switzerland. Moreover, political risk degrades the quality of the environment in Australia, Germany, and Denmark, while the outcomes were mixed for the rest. Since political stability has encouraged international corporations to invest. As a result, guaranteeing political stability will attract more foreign investment, pressuring the governments of these countries to treat the climate catastrophe more urgently. Moreover, reforms should be aimed at sustaining existing environmental policies related to the green economy, while local and international firms should vigorously pursue investments in renewable energy sources and energy-saving-efficient technologies. |
| first_indexed | 2024-04-11T00:50:40Z |
| format | Article |
| id | doaj.art-f7b536fd05574fe695cedc8190581841 |
| institution | Directory Open Access Journal |
| issn | 2405-8440 |
| language | English |
| last_indexed | 2024-04-11T00:50:40Z |
| publishDate | 2022-12-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Heliyon |
| spelling | doaj.art-f7b536fd05574fe695cedc81905818412023-01-05T08:40:40ZengElsevierHeliyon2405-84402022-12-01812e12479Does political stability contribute to environmental sustainability? Evidence from the most politically stable economiesTomiwa Sunday Adebayo0Seyi Saint Akadiri1Solomon Eghosa Uhunamure2Mehmet Altuntaş3Karabo Shale4Department of Business Administration, Faculty of Economics and Administrative Science, Cyprus International University, Nicosia, North Cyprus, Mersin 10- TurkeyResearch Department, Central Bank of Nigeria, Abuja, NigeriaFaculty of Applied Sciences, Cape Peninsula University of Technology, South Africa; Corresponding author.Faculty of Economics, Administrative and Social Sciences, Department of Economics, Nisantasi University, TurkeyFaculty of Applied Sciences, Cape Peninsula University of Technology, South AfricaThe study evaluates the effect of political risk on CO2 emission in the top 10 most politically stable economies (Australia, Canada, Germany, Finland, Denmark, Norway, Netherlands, New Zealand, Sweden, and Switzerland) from 1991/Q1 and 2019/Q4. To the investigators' understanding, this is the first empirical analysis that inspects the effect of political risk on CO2 emissions in the top 10 most politically stable economies. Therefore, the current paper fills a gap in the existing literature. Innovative quantile-on-quantile regression and quantile causality approaches are applied to explore this nexus. The quantile-on-quantile regression results reveal that in the majority of the quantiles, political risk enhances environmental quality for the case of Norway, Sweden, Canada, and Switzerland. Moreover, political risk degrades the quality of the environment in Australia, Germany, and Denmark, while the outcomes were mixed for the rest. Since political stability has encouraged international corporations to invest. As a result, guaranteeing political stability will attract more foreign investment, pressuring the governments of these countries to treat the climate catastrophe more urgently. Moreover, reforms should be aimed at sustaining existing environmental policies related to the green economy, while local and international firms should vigorously pursue investments in renewable energy sources and energy-saving-efficient technologies.http://www.sciencedirect.com/science/article/pii/S2405844022037677Environmental sustainabilityPolitical stabilityQuantile-on-quantile regressionCarbon emissions |
| spellingShingle | Tomiwa Sunday Adebayo Seyi Saint Akadiri Solomon Eghosa Uhunamure Mehmet Altuntaş Karabo Shale Does political stability contribute to environmental sustainability? Evidence from the most politically stable economies Heliyon Environmental sustainability Political stability Quantile-on-quantile regression Carbon emissions |
| title | Does political stability contribute to environmental sustainability? Evidence from the most politically stable economies |
| title_full | Does political stability contribute to environmental sustainability? Evidence from the most politically stable economies |
| title_fullStr | Does political stability contribute to environmental sustainability? Evidence from the most politically stable economies |
| title_full_unstemmed | Does political stability contribute to environmental sustainability? Evidence from the most politically stable economies |
| title_short | Does political stability contribute to environmental sustainability? Evidence from the most politically stable economies |
| title_sort | does political stability contribute to environmental sustainability evidence from the most politically stable economies |
| topic | Environmental sustainability Political stability Quantile-on-quantile regression Carbon emissions |
| url | http://www.sciencedirect.com/science/article/pii/S2405844022037677 |
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