- Via G. Chiabrera 199
00145, Rome (RM)
Italy
Cosimo Magazzino
Roma Tre University, Rome, Italy, Political Sciences, Faculty Member
- Cosimo Magazzino was born in Grottaglie (Italy) in 1980. He obtained his BA in Public Administration and his Ph.D. in... moreCosimo Magazzino was born in Grottaglie (Italy) in 1980. He obtained his BA in Public Administration and his Ph.D. in Political Science at Roma Tre University (Rome, Italy).
POSITIONS
He is currently a Professor of Economic Policy, European Economic Policy, and Environmental and Energy Economics in the Department of Political Science, Roma Tre University (Italy); Econometrics for Financial Markets in the MEMOTEF Department, Sapienza-University of Rome (Italy); Environmental and Tourism Economics, "Niccolò Cusano" University (Italy). He is a member of the Ph.D. Council on Political Science, Roma Tre University (Italy).
He coordinated the Ministry of Economy and Finance (MEF) Research program “Quality of public finances and impact on potential output”.
TEACHING
He has taught and/or is teaching Development Economics, Econometrics, Econometrics for Financial Markets, Economic Policy, European Economic Policy, Environmental and Energy Economics, Environmental and Land Economics, Economics of Globalization, Economics and Development Policy, Health Economics, Introductory Econometrics, Mathematics for Social Sciences, and STATA Laboratory in: the undergraduate and graduate programs in the Department of Political Science, Roma Tre University (Italy); MEMOTEF Department, Sapienza-University of Rome (Italy); "Niccolò Cusano" University; (Italy) Faculty of Economics, University of International Studies of Rome-UNINT (Italy); School of Political Sciences and Trade Union Relations, University of International Studies of Rome-UNINT (Italy); Department of Economics, Management and Business Law, University of Bari (Italy); the Ph.D. Council on Government of the Enterprise, Administration and Society in the International Dimension, University of Teramo (Italy); Environmental Science Research Division-ESRD, University of Reading (UK); Faculty of Economics and Business Administration, West University of Timisoara (Romania); Zeppelin University (Germany).
SCIENTIFIC RESPONSIBILITIES
Associate Editor: Frontiers in Environmental Science; International Journal of Climate Change Strategies and Management; Management of Environmental Quality; International Journal of the Energy-Growth Nexus.
Review Editor: Environmental Economics and Management.
Guest Editor: Advances in Environmental and Engineering Research; Agriculture; AIMS Environmental Science; Financial Innovation; Frontiers in Environmental Science; International Journal of the Energy-Growth Nexus; Journal of Risk and Financial Management; Research in Transportation Economics; Sustainability.
Board Editor: Advances in Environmental and Engineering Research; Asian Journal of Economics and Empirical Research; Business and Economic Research; Centre for Research on Islamic Banking & Finance and Business; Economic Research Guardian; Energies; Energy, Sustainability and Society; Environmental Economics and Management; Frontiers in Environmental Science; Future Business Journal; Global Journal of Social Science Research; Hitit Journal of Social Sciences; International Journal of Climate Change Strategies and Management; International Journal of Banking, Economics and Finance; International Journal of Economics and Finance; International Journal of Financial Research; International Journal of Petroleum Technology; International Journal of the Energy-Growth Nexus; Journal of Energy and Environmental Policy; Management of Environmental Quality.
RESEARCH INTERESTS
His research interests include: public finance; energy econometrics; environmental Kuznets curve; time series econometrics; panel data models; Machine Learning experiments; Artificial Neural Network analyses; environmental sustainability; circular economy; waste management; transportation infrastructure; agricultural economics.
RESEARCH PROJECTS OF NATIONAL INTEREST (PRIN)
– 2015: Participant to the PRIN “Riqualificazione del parco edilizio esistente in ottica nZEB (nearly Zero Energy Buildings): costruzione di un network nazionale per la ricerca” (Principal investigator: Livio De Santoli, Sapienza-University of Rome).
PROJECTS FUNDED BY RESEARCH INSTITUTIONS/FOUNDATIONS
– 2012-15: Coordinator of the research project “Quality of public finances and impact on potential output”, Ministry of Economy and Finance (MEF), Italy.edit
Research Interests:
Il volume raccoglie alcuni saggi di politica economica dedicati a Gian Cesare Romagnoli e presentati nella Giornata in suo onore all’Università Roma Tre. Tra i temi affrontati: la contabilità economica italiana ed europea; la politica... more
Il volume raccoglie alcuni saggi di politica economica dedicati a Gian Cesare Romagnoli e presentati nella Giornata in suo onore all’Università Roma Tre. Tra i temi affrontati: la contabilità economica italiana ed europea; la politica economica dell’ambiente; una trattazione metodologica e applicata del ciclo economico, del commercio internazionale, della sostenibilità fiscale del debito pubblico e dello stato del benessere per l’infanzia; la politica dei trasporti e la politica economica regionale.
Research Interests:
Il volume raccoglie i risultati di una ricerca del CREI di Roma Tre, su “Legge di Stabilità e politica economica europea” svolta da Lilia Cavallari, Stefano D’Addona, Rama Dasi Mariani, Francesco Forte, Marilena Giannetti, Valerio... more
Il volume raccoglie i risultati di una ricerca del CREI di Roma Tre, su “Legge di Stabilità e politica economica europea” svolta da Lilia Cavallari, Stefano D’Addona, Rama Dasi Mariani, Francesco Forte, Marilena Giannetti, Valerio Intraligi, Stefano Lepore, Cosimo Magazzino, Olga Marzovilla, Marco Mele, Paolo Naticchioni, Gian Cesare Romagnoli e Gaetana Trupiano. La Legge di stabilità per il 2015 segnala un cambio di stagione importante, anche se non è risolutiva di per sé in termini di spinta alla crescita e alla riduzione del debito pubblico. La novità sostanziale è data da una riduzione consistente del cuneo fiscale come parte di una nuova politica industriale basata soprattutto sulle riforme strutturali che il Paese attende da anni. Essa si accompagna al Jobs Act da cui si attende una ripresa della crescita. Le risorse aggiuntive prodotte dalla più rapida crescita saranno destinate ad addolcire l’onere dell’aggiustamento fiscale per famiglie e imprese. La Legge di Stabilità trova un soddisfacente punto di incontro tra austerity e crescita e si collega alle politiche di exit strategy dalla crisi economica che beneficeranno della riduzione degli spread attesa anche dal Quantitative Easing. Con questo scopo, la ricerca ha guardato agli effetti delle politiche fiscale e monetaria europee e alle tendenze del mercato del lavoro in presenza di cambiamento tecnologico. L’approccio seguito dal governo Renzi è stato quello di impegnarsi sulle riforme istituzionali e strutturali richieste dalla nuova governance europea piuttosto che invocare l’unione politica, per la quale mancano ancora i presupposti, come panacea del debito pubblico. In questa temperie storica, la domanda di unione politica è maggiore dell’offerta e ciò costringe i paesi che la domandano a pagare prezzi più alti in termini di quadro macroeconomico. L’auspicio espresso dalla ricerca effettuata dal CREI nell’anno precedente, che il nuovo governo potesse trarre utili elementi di riflessione dai suoi risultati, anche sul profilo redistributivo di un welfare meno universalistico, ha trovato un parziale riscontro.
Research Interests:
Il volume, che raccoglie i risultati di una ricerca del CREI di Roma Tre, ha avuto come riferimento la Legge di Stabilità per il 2014 e le sue novità sostanziali: una lieve riduzione del cuneo fiscale e la sostituzione dell’IMU con... more
Il volume, che raccoglie i risultati di una ricerca del CREI di Roma
Tre, ha avuto come riferimento la Legge di Stabilità per il 2014 e le
sue novità sostanziali: una lieve riduzione del cuneo fiscale e la sostituzione
dell’IMU con altre imposte sugli immobili. La Legge di
Stabilità 2014 manca di consistenza oltre che di una visione strategica
ed è perciò inadeguata a invertire le aspettative di continuazione
della recessione, in corso dal 2008. Per una politica economica
che doveva affrontare questi gravi problemi, dopo il superamento
dell’emergenza finanziaria da parte del Governo Monti, con il contributo
della BCE, la finanza pubblica italiana poteva fornire con difficoltà
nuove risorse provenienti da un aumento della imposizione
data l’alta pressione fiscale raggiunta. Per questa ragione, si è auspicato
che il Governo Letta guardasse con maggiore interesse a
una ricomposizione della spesa pubblica, con le risorse che potevano
essere rese disponibili dall’aumento dell’IVA e dal processo di
spending review, al fine di consentire una riduzione consistente del
cuneo fiscale come parte di una nuova politica industriale basata soprattutto
sulle riforme strutturali che il Paese attende da anni. Con
questo scopo, la ricerca ha guardato anche alle dimensioni del governo
nel periodo post-unitario. L’auspicio espresso dalla ricerca effettuata
dal CREI nell’anno precedente, che il nuovo Governo Letta
potesse trarre utili elementi di riflessione dai suoi risultati, anche sul
profilo redistributivo, è rimasto disatteso nell’attuale contesto politico
caratterizzato da una politica economica esile e da una finanza
pubblica pesante.
Tre, ha avuto come riferimento la Legge di Stabilità per il 2014 e le
sue novità sostanziali: una lieve riduzione del cuneo fiscale e la sostituzione
dell’IMU con altre imposte sugli immobili. La Legge di
Stabilità 2014 manca di consistenza oltre che di una visione strategica
ed è perciò inadeguata a invertire le aspettative di continuazione
della recessione, in corso dal 2008. Per una politica economica
che doveva affrontare questi gravi problemi, dopo il superamento
dell’emergenza finanziaria da parte del Governo Monti, con il contributo
della BCE, la finanza pubblica italiana poteva fornire con difficoltà
nuove risorse provenienti da un aumento della imposizione
data l’alta pressione fiscale raggiunta. Per questa ragione, si è auspicato
che il Governo Letta guardasse con maggiore interesse a
una ricomposizione della spesa pubblica, con le risorse che potevano
essere rese disponibili dall’aumento dell’IVA e dal processo di
spending review, al fine di consentire una riduzione consistente del
cuneo fiscale come parte di una nuova politica industriale basata soprattutto
sulle riforme strutturali che il Paese attende da anni. Con
questo scopo, la ricerca ha guardato anche alle dimensioni del governo
nel periodo post-unitario. L’auspicio espresso dalla ricerca effettuata
dal CREI nell’anno precedente, che il nuovo Governo Letta
potesse trarre utili elementi di riflessione dai suoi risultati, anche sul
profilo redistributivo, è rimasto disatteso nell’attuale contesto politico
caratterizzato da una politica economica esile e da una finanza
pubblica pesante.
Research Interests:
Il volume raccoglie i risultati di una ricerca del CREI dell’Università Roma Tre sulla “Legge di Stabilità e la politica economica in Italia” svolta da Carmela D’Apice, Maurizio Franzini, Cosimo Magazzino, Salvatore Monni, Alessandro... more
Il volume raccoglie i risultati di una ricerca del CREI dell’Università
Roma Tre sulla “Legge di Stabilità e la politica economica in Italia” svolta
da Carmela D’Apice, Maurizio Franzini, Cosimo Magazzino, Salvatore
Monni, Alessandro Petretto, Gian Cesare Romagnoli e Gaetana Trupiano.
La Legge di Stabilità ha sostituito la Legge Finanziaria dal 2010, all’inizio
della crisi dei debiti sovrani europei. Nel 2011 il governo di Mario
Monti ha dovuto affrontare sfide molto difficili: uno spread tra Bund tedeschi
e Btp italiani decennali oltre i 500 punti base, il terzo rapporto
debito pubblico/Pil del mondo, i vincoli di finanza pubblica dettati dalla
nuova governance europea, la pressione da parte delle agenzie di rating
su titoli di stato e sistema bancario, una crisi di produttività ultra-decennale,
un’evasione fiscale endemica e una instabilità politica di fondo.
La stella polare dell’esecutivo è stata quella di raccogliere la dura
sfida del consolidamento dei conti pubblici nonostante una recessione
persistente e una disoccupazione giovanile inaccettabile. Ma gli strumenti
scelti per cercare di conseguire gli obiettivi sembrano essere stati,
almeno in parte, mal selezionati e discutibili in termini redistributivi.
Inoltre, l’austerità voluta dall’esecutivo è stata restrittiva perché si è
quasi totalmente concentrata sul versante delle entrate, mentre il contributo
al risanamento dei conti pubblici avrebbe dovuto agire su entrambi
i fronti, aprendo la strada a un’austerità espansiva, con la riduzione
del cuneo fiscale. Anche nella Legge di Stabilità per il 2013, le
semplificazioni, le liberalizzazioni, le privatizzazioni, una minore tassazione
del lavoro, una riforma delle relazioni finanziarie intergovernative,
l’abbandono dell’universalismo delle prestazioni, sono rimasti sullo
sfondo. L’auspicio è che il nuovo governo possa trarre utili elementi di
riflessione da questa ricerca.
Roma Tre sulla “Legge di Stabilità e la politica economica in Italia” svolta
da Carmela D’Apice, Maurizio Franzini, Cosimo Magazzino, Salvatore
Monni, Alessandro Petretto, Gian Cesare Romagnoli e Gaetana Trupiano.
La Legge di Stabilità ha sostituito la Legge Finanziaria dal 2010, all’inizio
della crisi dei debiti sovrani europei. Nel 2011 il governo di Mario
Monti ha dovuto affrontare sfide molto difficili: uno spread tra Bund tedeschi
e Btp italiani decennali oltre i 500 punti base, il terzo rapporto
debito pubblico/Pil del mondo, i vincoli di finanza pubblica dettati dalla
nuova governance europea, la pressione da parte delle agenzie di rating
su titoli di stato e sistema bancario, una crisi di produttività ultra-decennale,
un’evasione fiscale endemica e una instabilità politica di fondo.
La stella polare dell’esecutivo è stata quella di raccogliere la dura
sfida del consolidamento dei conti pubblici nonostante una recessione
persistente e una disoccupazione giovanile inaccettabile. Ma gli strumenti
scelti per cercare di conseguire gli obiettivi sembrano essere stati,
almeno in parte, mal selezionati e discutibili in termini redistributivi.
Inoltre, l’austerità voluta dall’esecutivo è stata restrittiva perché si è
quasi totalmente concentrata sul versante delle entrate, mentre il contributo
al risanamento dei conti pubblici avrebbe dovuto agire su entrambi
i fronti, aprendo la strada a un’austerità espansiva, con la riduzione
del cuneo fiscale. Anche nella Legge di Stabilità per il 2013, le
semplificazioni, le liberalizzazioni, le privatizzazioni, una minore tassazione
del lavoro, una riforma delle relazioni finanziarie intergovernative,
l’abbandono dell’universalismo delle prestazioni, sono rimasti sullo
sfondo. L’auspicio è che il nuovo governo possa trarre utili elementi di
riflessione da questa ricerca.
Questo volume analizza le politiche, soprattutto in campo economico- finanziario, attuate dagli esecutivi britannici guidati da Margaret H. Thatcher nel corso degli anni Ottanta del XX secolo. Al fine di comprendere meglio le scelte... more
Questo volume analizza le politiche, soprattutto in campo economico-
finanziario, attuate dagli esecutivi britannici guidati da Margaret
H. Thatcher nel corso degli anni Ottanta del XX secolo. Al fine di
comprendere meglio le scelte governative e le reazioni degli agenti
economici, viene offerto un inquadramento storico, politico e sociale
del Regno Unito anche in chiave comparatistica.
Il volume costituisce, sia per gli addetti ai lavori che per il grande
pubblico, un utile strumento di comprensione di un decennio di
grandi cambiamenti e di una figura controversa sulla quale pochi
sono stati i contributi scientifici, soprattutto in lingua italiana. L’analisi
assume un interesse particolare in questi anni giacché l’affermarsi
del paradigma del “conservatorismo liberale” – la cui validità
viene messa in dubbio dalla crisi economica e finanziaria mondiale
in atto – trova le sue radici proprio nel periodo che dagli studiosi è
stato indicato come “il decennio della Thatcher e di Reagan”.
finanziario, attuate dagli esecutivi britannici guidati da Margaret
H. Thatcher nel corso degli anni Ottanta del XX secolo. Al fine di
comprendere meglio le scelte governative e le reazioni degli agenti
economici, viene offerto un inquadramento storico, politico e sociale
del Regno Unito anche in chiave comparatistica.
Il volume costituisce, sia per gli addetti ai lavori che per il grande
pubblico, un utile strumento di comprensione di un decennio di
grandi cambiamenti e di una figura controversa sulla quale pochi
sono stati i contributi scientifici, soprattutto in lingua italiana. L’analisi
assume un interesse particolare in questi anni giacché l’affermarsi
del paradigma del “conservatorismo liberale” – la cui validità
viene messa in dubbio dalla crisi economica e finanziaria mondiale
in atto – trova le sue radici proprio nel periodo che dagli studiosi è
stato indicato come “il decennio della Thatcher e di Reagan”.
I problemi della finanza pubblica, in questi giorni difficili per l’Italia e l’Europa, sono passati da argomento tecnico, ristretto a un pubblico di iniziati, ad oggetto di dibattito quotidiano. […] Ci sono domande molto importanti e... more
I problemi della finanza pubblica, in questi giorni difficili per l’Italia e l’Europa, sono passati da argomento tecnico, ristretto a un pubblico di iniziati, ad oggetto di dibattito quotidiano. […] Ci sono domande molto importanti e impegnative che raramente trovano spazio in questo turbinio di dibattiti e di commenti. Perché l’Italia ha il terzo debito pubblico più alto al mondo? Come ci siamo arrivati? È il livello del debito che ha frenato e tuttora frena l’economia italiana? Qual è il rapporto tra spesa pubblica e reddito aggregato? È vero che più grande è la dimensione dell’operatore pubblico, minore è la crescita dell’economia? […] Tali sono alcuni degli interrogativi che si pone Cosimo Magazzino in questo libro. E lo fa con la serietà e il rigore dell’economista, rifuggendo da scorciatoie giornalistiche e improvvisazioni, affrontando i problemi con una molteplicità di approcci, che vanno dalla ricostruzione storica, all’inquadramento teorico per giungere all’analisi statistico-econometrica.
FABRIZIO MATTESINI, Prefazione
Magazzino’s results are particularly relevant in the light of the present European debt crisis, which is the result of governments that have excessively grown throughout the last decades. […] The principles of sound public finances emphasized by Magazzino seem to get abandoned little by little. Not a bright future to look forward to. We have barely overcome the banking crisis, we are midst in a state finance crisis, and already an excessive money supply crisis is looming.
CHARLES B. BLANKART, Postscript
FABRIZIO MATTESINI, Prefazione
Magazzino’s results are particularly relevant in the light of the present European debt crisis, which is the result of governments that have excessively grown throughout the last decades. […] The principles of sound public finances emphasized by Magazzino seem to get abandoned little by little. Not a bright future to look forward to. We have barely overcome the banking crisis, we are midst in a state finance crisis, and already an excessive money supply crisis is looming.
CHARLES B. BLANKART, Postscript
The rising levels of global GHG emissions underpin climate change, hence, taking an appropriate inventory of the drivers and patterns of anthropogenic emissions remains crucial to mitigating global climate effects. However, there are... more
The rising levels of global GHG emissions underpin climate change, hence, taking an appropriate inventory of the drivers and patterns of anthropogenic emissions remains crucial to mitigating global climate effects. However, there are conflicting views in the literature on the relationship between respective drivers and GHG emissions due to the lack of robust analysis that accommodates the interaction of all significant drivers. We use novel estimation techniques to decipher the 26-year inventory of GHG occurrences and simultaneous assessment of interactions in 50 countries stratified based on socioeconomic developments over the period 1990–2018. This study highlights different drivers of GHG emissions under broader categories such as population, economic development, forest density, and agricultural practices. Non-parametric estimations roughly confirm the magnitude of the influence of forests, agriculture, and land-use intensity on GHG emissions, ultimately tracking the most significant emission sinks.
Research Interests:
Rising urbanization on abiotic environmental conditions in housing units is one of the most severe difficulties that city municipality authorities face, all over the world. Waste production has increased as a result of households failing... more
Rising urbanization on abiotic environmental conditions in housing units is one of the most severe difficulties that city municipality authorities face, all over the world. Waste production has increased as a result of households failing to implement waste management strategies that ensure sustainability. Thus, property values in the housing market have regularly deteriorated as a result of environmental (dis)amenities. The study examines the impact of a waste dump site on proximate property values in Pakistan’s twin cities. Using a systematic random sampling technique, questionnaires were distributed to 849 households. 35 dump sites were chosen from 100 metres to 500 metres. The dump sites were chosen based on their size and proximity to residential homes in the study area. The empirical results show that the distance between a residential property and a waste dump site significantly impacts rental values. Moreover, rents exhibit a negative relationship with increasing distance from the dump sites. Based on applied findings, more proactive enforcement of sanitary laws and regulations, such as removing all irregular dump sites from residential areas, is recommended.
Research Interests:
Does the oil price slump cause a cleaner energy transition during COVID-19 in Italy? Fresh evidence from quantile and wavelet coherency analyses
Research Interests:
h i g h l i g h t s • We document the emergence of a positive relation between oil price and stock returns from 2006. • We study the effects of oil market shocks on stock returns using a time-varying SVAR. • We find evidence of... more
h i g h l i g h t s • We document the emergence of a positive relation between oil price and stock returns from 2006. • We study the effects of oil market shocks on stock returns using a time-varying SVAR. • We find evidence of time-variation in the effects of oil-specific demand shocks. • The short-term interest rate explains well time variation in the parameters of the SVAR. • This suggests the importance of the ZLB in explaining the positive oil-stock relation.
Research Interests:
The study explores the dynamic effects of geopolitical risks and economic policy uncertainties on oil and natural gas prices in the US market's less volatile and highly volatile regimes, employing Markov regime-switching dynamic... more
The study explores the dynamic effects of geopolitical risks and economic policy uncertainties on oil and natural gas prices in the US market's less volatile and highly volatile regimes, employing Markov regime-switching dynamic regression models (MS-DR) with monthly data from January 2000 to November 2022. Our empirical results demonstrate that a positive shock in the geopolitical risk of the USA (GPR_US) causes an increase in the growth rate of the prices of WTI at the high volatile periods (regime 1), and its one-period lagged effects are negative at time t in the less volatile periods (regime 0), and it cumulatively causes an increase in WTI price. GPR_US and one lagged effect negatively and positively natural gas prices (NGAS) at both regimes. respectively, where the dynamic cumulative impact of GPR_US causes NGAS to increase. World geopolitical risks (GPR) lead to an increase in WTI and natural gas prices. Furthermore, US economic policy exerts a reduction in WTI price at both less and highly volatile regimes, and its lag influences are positive at both regimes, where it cumulatively causes a decrease in WTI price. In a similar manner, global economic policy uncertainty also reduces WTI. US economic policy and its lag effects exhibit an increase and decrease in NGAS prices in the high volatile regime but exhibited a cumulatively positive response to shock in economic policy uncertainty. Global economic policy uncertainty causes nature gas prices to go up. Hence, geopolitical risks and economic policy uncertainty might have a complex impact on the prices of natural resources. It depends on the specific circumstances and the supply-demand dynamics in the market. Our findings offer insightful implications for economic agents.
Research Interests:
This paper proposes a novel approach to identify the presence of a latent factor in the co-movements of gasoline and diesel prices in the three major European Union economies, (France, Germany, and Italy) using daily data from January 3,... more
This paper proposes a novel approach to identify the presence of a latent factor in the co-movements of gasoline and diesel prices in the three major European Union economies, (France, Germany, and Italy) using daily data from January 3, 2005, to June 28, 2021. More precisely, we advance an artificial neural networks algorithm estimated through a machine learning experiment through the backpropagation system to show that the neural signal is altered by an element that could coincide with a latent factor in the fuel price co-movements. We consider the role of the fuel tax systems and the connection between gasoline and diesel prices in these countries. The estimations indicate the presence of an unobservable component (the latent factor) in the fuel price co-movements, capable of influencing NN. This result validates the previous findings B Cosimo Magazzino
Research Interests:
The focus of this study is to examine the short- and long-term causal effects of natural disaster shocks on the stock market and business confidence level in the time-frequency domain by studying the co-movements between earthquake data... more
The focus of this study is to examine the short- and long-term causal effects of natural disaster shocks on the stock market and business confidence level in the time-frequency domain by studying the co-movements between earthquake data and the Istanbul Stock Index closing prices, using the Wavelet Coherence and Phase Difference analyses. The empirical findings reveal that the relationship between earthquake events and financial markets is not stable over time and across different time horizons. The linkage becomes stronger in the long term when the impact of the earthquake event coincides with a financial crisis reflecting a combined effect. This nexus is also strong during the years 2007–2011 reflecting a similar combined effect of both an earthquake event and the global financial crisis. Meanwhile, co-movement between the earthquake and the financial market index implies a negative effect in the period 2011–2012, indicating short-run effects of stock market shocks. Differentiating these short-term and long-term effects has implications for risk management and policymaking.
Research Interests:
Despite the huge difference in their climatic regimes, the OECD countries are among the world's largest energy consumers and emitters of greenhouse gases, particularly carbon dioxide. Nonetheless, no studies have been conducted to... more
Despite the huge difference in their climatic regimes, the OECD countries are among the world's largest energy consumers and emitters of greenhouse gases, particularly carbon dioxide. Nonetheless, no studies have been conducted to decompose and decouple the longterm influential primary factors of carbon emissions for these countries. In this research, the Log Mean Divisia Method I is used to inspect the contribution of several influencing factors to fill this knowledge gap. Moreover, Tapio (Transp Policy 12(2):137-151, 2005) decomposition analysis (DA) is performed to investigate the driving forces of CO2 emissions over the 1990-2019 years. The study provides an in-depth analysis of how to reduce CO2 emissions and the factors that contribute to their variation, which is crucial for both global and regional climate change policies. DA shows that, up to 2004, the activity effect and the population effect drove the emissions to increase; while, in more recent years, the activity effect was able to curb the emissions. Decoupling analysis show the prevalence of the expansive negative decoupling regime for the 1990-2004 and 2015-2019 periods, while several countries were in the strong decoupling phase over the central period (2005-2009). According to the results, further efforts to increase energy efficiency, political support for digitalization and decentralized energy systems, and setting up a unique emission trading system are recommended for air pollution reduction.
Research Interests:
Several developing markets, such as Brazil, Russia, India, China, and South Africa (BRICS), are facing challenges in attaining the targets set with regard to the Sustainable Development Goals (SDGs). While previous studies have... more
Several developing markets, such as Brazil, Russia, India, China, and South Africa (BRICS), are facing challenges in attaining the targets set with regard to the Sustainable Development Goals (SDGs). While previous studies have extensively examined the Environmental Kuznets Curve in BRICS nations, focusing on other proxy of environmental degradation like CO2 emissions and ecological footprint, little attention has been given to the Load Capacity Curve (LCC) hypothesis specifically in relation to emerging economies. Consequently, there exists a gap in the literature regarding the validation of the LCC hypothesis for these economies. To bridge this gap, our research intends to assess the validity of the LCC hypothesis in the context of the BRICS countries. Specifically, we investigate the impact of biomass energy and social globalization on the load capacity factor (a proxy for ecological quality) in the BRICS countries from 1990 to 2018, while considering the roles of economic growth and natural resources. Additionally, we explore the development of an SDG framework tailored for the BRICS nations, which can serve as a blueprint for other emerging economies. To analyze the data, we employ the Method of Moments-Quantile-Regression (MMQR) approach along with long-run estimators. The findings of the MMQR analysis reveal that natural resources, social globalization, and gross domestic product have adverse effects on ecological quality, while biomass energy exhibits a positive influence on ecological quality. Furthermore, our research validates the LCC hypothesis for the BRICS economies. We also observe evidence of causality between the load capacity factor and its determinants. Based on our investigation, we recommend a transition in energy policies from hydrocarbon energy to sustainable energy options by implementing innovative approaches to biomass technology that can enhance conversion efficiency. Implementing these policy changes will not only enhance ecological quality but also align the SDG targets.
Research Interests:
There is a growing concern about inappropriate waste disposal and its negative impact on human health and the environment. The objective of this study is to understand household waste segregation intention considering psychological,... more
There is a growing concern about inappropriate waste disposal and its negative impact on human health and the environment. The objective of this study is to understand household waste segregation intention considering psychological, institutional, and situational factors simultaneously. Insights into the motivations of household waste segregation drivers may assist in a better knowledge of how to pursue the most efficient and effective initiatives. For this purpose, data from a representative sample comprising 849 households is obtained from the twin cities of Islamabad and Rawalpindi (Pakistan). The empirical analysis employs a Structural Equation Modeling (SEM) approach, showing that policy instruments have significant direct and indirect impacts on households' segregation intentions. The results highlight that government policy instruments strengthen personal and perceived norms for waste segregation intentions, resulting in an external intervention that would encourage intrinsic motivation. Therefore, policy actions become the main entry point for initiating waste segregation behavior. Public policy must continue to emphasize waste segregation since it may help resource recovery. This is imperative because the environment is a shared resource, and its conservation increases social welfare.
Research Interests:
This study seeks to address pertinent economic and environmental issues associated with natural gas flaring, especially for the world's leading natural gas flaring economies (i.e. Russia, Iraq, Iran, the United States, Algeria, Venezuela,... more
This study seeks to address pertinent economic and environmental issues associated with natural gas flaring, especially for the world's leading natural gas flaring economies (i.e. Russia, Iraq, Iran, the United States, Algeria, Venezuela, and Nigeria). By applying relevant empirical panel and countryspecific approaches, the study found that fuel energy export positively impacts economic growth with elasticity of ~ 0.22 to ~ 0.24 for the panel examination. It is further revealed that environmental quality in the panel is hampered by increase in economic growth, gas flaring, fuel energy export, and urbanization. Moreover, for the country-wise inference, government quality desirably moderates economic and environmental aspects of gas flaring in Venezuela and Nigeria, and in Russia and Iran respectively. However, government quality moderates gas flaring to cause economic downturn in the USA. Additionally, economic growth increased with increase in urbanisation (in Iraq and the USA), gas flaring (in Iran and the USA), government quality (only in the USA), and fuel energy export (only in Algeria) while economic growth downturn is due to increase urbanisation in Russia and the USA, increase in fuel energy export in the USA, and increase in government quality in Russia. Meanwhile, environmental quality is worsened through intense carbon dioxide emission from increased urbanisation activity (in Iraq, Iran, Algeria, and Nigeria), increased fuel energy export (in Nigeria), increased natural gas flaring (in Algeria and Nigeria), increased GDP (in Russia, Iran, USA, Algeria, and Venezuela), and high government quality (in Iran). Interestingly, the result revealed that increase in GDP (in Nigeria), increase in urbanisation (in the USA), and increase in gas flaring (in Algeria and Nigeria) dampens environmental quality. Importantly, this study offers policy insight into sustainable approaches in natural gas production, government effectiveness, and regulatory quality.
Research Interests:
This paper provides evidence that green activities could be positively correlated in a specific region only if related green culture and capabilities exist, where ad hoc policy measures are required in order to enhance the regional... more
This paper provides evidence that green activities could be positively correlated in a specific region only if related green culture and capabilities exist, where ad hoc policy measures are required in order to enhance the regional abilities in supporting the acceleration of ongoing green transition. The European Recovery Programs align public policies with international commitments to environmental sustainability, directing investments toward sectors, and technologies, that accelerate the ecological transition, and enhance resilience to future climate shock changes. Through the Benchmarking Metering Deployment (2020), the paper investigates smart meters’ diffusion and the green effects they generate. The spatial unit of investigation is the eu-27, and it offers the opportunity to verify the effectiveness of smart meters as a powerful tool for sustainable policies. The results show the fundamental role of these smart infrastructures, both for the electricity sector and the digital and sustainable transition process of the European countries.
Research Interests:
In this study, the focus is on examining the influence of renewable energy consumption, economic risk, and financial risk on the load capacity factor (LF) within the BRICS countries. The analysis covers the time span from 1990 to 2019.... more
In this study, the focus is on examining the influence of renewable energy consumption, economic risk, and financial risk on the load capacity factor (LF) within the BRICS countries. The analysis covers the time span from 1990 to 2019. The empirical strategy uses the Method of Moments Quantile Regression (MMQR) and long-run estimators (Fixed Effects Ordinary Least Squares, FE-OLS; Dynamic Ordinary Least Squares, DOLS; and Fully Modified Ordinary Least Squares, FMOLS). The findings highlight the presence of a cointegrating relationship. Moreover, fossil fuels and economic growth cause LF to decrease, while economic risk and the use of renewable energy sources increase the deepening of the LF. Furthermore, the results of the MMQR method are confirmed by DOLS, FMOLS, and FE-OLS estimates. Causality results also demonstrate that these factors may forecast ecological quality, indicating that policies for renewable energy consumption, financial risk, renewable energy, and economic growth can all have an impact on the degree of LF. In light of this research, policymakers should strongly encourage expenditures on environmentally friendly technologies and economic and financial stability to increase energy efficiency as well as sustain the widespread adoption and use of energy-saving products.
Research Interests:
Meta-Goal Programming (MGP) is a simultaneous cognitive evaluation of the degree of achievements for original decision goals considered in a GP model. However, in most real-world situations, environmental coefficients and related... more
Meta-Goal Programming (MGP) is a simultaneous cognitive evaluation of the degree of achievements for original decision goals considered in a GP model. However, in most real-world situations, environmental coefficients and related parameters are not easily available. In such a situation, the decision-maker must consider various conflicting targets in a framework of uncertain aspiration levels at the same time. On the other side, Interval Programming (IP) is a method used to increase the range of available decision-maker preference structures in GP. In the perspective of solving the conflicts between agriculture and water use towards sustainability, this paper proposes an Interval Meta-Goal Programming Model (IMGPM) dealing with imprecision in data that covers interval coefficients, target intervals, and interval bounds of meta-goals. This novel methodology has been tested in a study area in Iran to validate its added value in solving conflicting uses of natural resources by economic sectors. This integration together with its application for sustainable optimal cropping patterns (agroecosystem planning) represents a novelty in the field of ecological modeling. The management solutions of our method in terms of land allocation are different from those in Sen and Pal (2013) model. In the case of Iran, many socio-ecological-economic strategies and policies should be necessary for improving the agricultural sector. More specifically, on the basis of rainfall amounts and spatial patterns, this approach can represent a decision-support system able to define strategies for additional water storage useful to support crop production. Furthermore, the availability of water together with the sustainable use of fertilizers can mitigate the risk of land degradation, guaranteeing people employment, food security, and economic profits. Although the present methodology seems to solve the problem of multi-goals decision-making, the inclusion of spatial relationships is able to introduce dependencies between the management of land use in adjacent areas, making the present approach nearer to real-world functioning.
Research Interests:
The current study establishes theoretical and empirical linkages among urbanization, economic growth, land use, and greenhouse gas (GHG) emissions. The prime objective of this article is to draw novel conclusions and policies for the... more
The current study establishes theoretical and empirical linkages among urbanization, economic growth, land use, and greenhouse gas (GHG) emissions. The prime objective of this article is to draw novel conclusions and policies for the different income levels of countries regarding the urbanization and agriculture sector land on environmental pollution. Employing panel data of 50 countries for the period 1990 to 2019, this study uses the lasso regression and non-parametric regression panel data methods to investigate the impacts of land use (arable, permanent pastures, and cropland), urbanization growth, and economic progress on the pollution levels. After estimating a Lasso regression to find the best auto-regressive predictive specification, we used an auto-regressive partially linear regression where each of the drivers' effects was modelled non-parametrically. The elasticity effect of the urban population on emissions is significantly positive and sizable. In addition, the effect distribution shows a non-negligible share of observations with an elasticity higher than one. Urban population growth is a serious threat to climate change, as it seems to increase sharply CO 2 emissions (although with an elasticity pace smaller than one). The elasticity effect of GDP is significantly negative, which implies that the scale of production, by triggering efficiency, can have a positive effect on emissions reduction. The results argue that agglomeration negative effects put in place by larger urban population can partly explain this finding. Overall, the study argues that urbanization growth and economic activities lead to GHG emissions, whereas the study also discusses novel implications and the role of agricultural land use apropos Sustainable Development Goals (SDGs). The empirical findings allow us to draw novel conclusions and guidelines in line with SDGs. The agricultural reforms might include irrigation and farming techniques such as spin farming, solar tube wells, tunnel farming, technology use agreements, plant double helix, etc.
Research Interests: Urbanization in Developing Areas, Urbanization, Non-parametric methods, Greenhouse gas emissions reduction policies, Urbanization and Environmental Issues, and 5 moreGreenhouse Gas Emissions, Non-Parametric Parametric Statistics, Effects of Climate Change on Agriculture and Land Resources, LASSO, and Non-parametric Regression
Whether and how environmental regulation and resource dependence contribute to green economic growth has been a focus of academic discussion. This paper analyzes the multi-stage transmission mechanism based on environmental regulation to... more
Whether and how environmental regulation and resource dependence contribute to green economic growth has been a focus of academic discussion. This paper analyzes the multi-stage transmission mechanism based on environmental regulation to promote green economic growth, especially the important transmission mechanism of resource dependence. The green economic growth and environmental regulation indicators of 286 Chinese cities were measured from 2003 to 2018 using the Metafrontier Global Slack-Based Measure (SBM) super-efficient Data Envelopment Analysis (DEA) approach and Fuzzy Comprehensive Evaluation (FCE) method. In addition, resource dependence indicators are investigated. Spatial panel and multiple mediator models are used to test the one- and two-step transmission mechanisms of resource dependence concerning the effect of environmental regulation on green economic growth. The results show that resource dependence plays a mediating role in the one-step transmission mechanism. Resource dependence further affects green economic growth by influencing the industrial structure, quality of the government system, foreign investments, technological innovation, manufacturing development, and physical capital, thus constituting a two-step transmission mechanism. Finally, we suggest a new method based on the environmental regulation policy in China, which can be used to break the “curse” of urban resources and realize green economic growth.
Research Interests:
This research aims to examine the validity of the Environmental Kuznets Curve (EKC) hypothesis in 37 Organization for Economic Co-operation and Development (OECD) countries over the period from 1960 to 2019. Panel Quantile Regressions... more
This research aims to examine the validity of the Environmental Kuznets Curve (EKC) hypothesis in 37 Organization for Economic Co-operation and Development (OECD) countries over the period from 1960 to 2019. Panel Quantile Regressions (QR) show that for the lower quartile, economic growth does not impact emissions; for the central quartile a U-shaped curve emerges; while for the upper quartile, an N-shaped curve is found. In addition, cointegrating regressions highlight that economic growth, fossil fuel consumption, and population exert a detrimental effect on the environment, while renewable energy consumption reduces carbon dioxide (CO2) emissions. These results are confirmed by panel causality tests since a feedback mechanism is found between CO2 emissions and the remaining series. Furthermore, single-country estimates provide evidence of great variability in the sample.
Research Interests:
This paper examines the relationship among ecological footprint (EF), electricity consumption, and GDP in China using annual data ranging from 1960 to 2019. However, factors like trade openness, urbanization, and life expectancy might... more
This paper examines the relationship among ecological footprint (EF), electricity consumption, and GDP in China using annual data ranging from 1960 to 2019. However, factors like trade openness, urbanization, and life expectancy might increase EF as ecological distortions are mainly human-induced. This study explores the effect of these variables on the environment, which is captured by EF. Quantile Regression estimates indicate that electricity consumption and real GDP increase environmental degradation, while trade and urbanization reduce EF, allowing for a higher environmental quality. On the other hand, the spectral Granger-causality tests reveal that only urbanization and life expectancy affect environmental degradation over the whole frequency domain. In the current geopolitical scenario, relevant policy implications may be derived. Keywords CO 2 emissions • Electric power consumption • Economic growth • Trade • Urbanization • Life expectancy • Time-series • China JEL Classification C32 • N55 • Q43 Abbreviations AI Artificial intelligence AMG Augmented mean group ARCH Auto-regressive conditional heteroskedasticity ARDL Auto-regressive distributed lags BCSG Breitung and Candelon (2006) Spectral Granger BH
Research Interests:
This paper examines the relationship among CO 2 emissions, energy use, and GDP in Russia using annual data ranging from 1990 to 2020. We first conduct time-series analyses (stationarity, structural breaks, cointegration, and causality... more
This paper examines the relationship among CO 2 emissions, energy use, and GDP in Russia using annual data ranging from 1990 to 2020. We first conduct time-series analyses (stationarity, structural breaks, cointegration, and causality tests). Then, we performed some Machine Learning experiments as robustness checks. Both approaches underline a bidirectional causal flow between energy use and CO 2 emissions; a unidirectional link running from CO 2 emissions to real GDP; and the predominance of the "neutrality hypothesis" for energy use-GDP nexus. Therefore, energy conservation measures should not adversely affect the economic growth path of the country. In the current geopolitical scenario, relevant policy implications may be derived. The increase in the production and consumption activities of societies, especially after the industrial revolution, is seen as the main reason for the rise in Greenhouse Gases (GHG) in the atmosphere (EPA 1). The vast majority of GHG is released as carbon dioxide (CO 2) emissions as a result of burning fossil fuels (Ardakani and Seyedaliakbar 2). CO 2 emissions account for approximately 80% of total GHG emissions (EPA 3). According to the IPCC 4 , anthropogenic CO 2 emissions resulting from the combustion of fossil fuels increase global warming and cause climatic deterioration (Alam et al. 5). Since CO 2 emissions depend on the population and changing economic, technological, and social conditions, environmental pollution is considered a by-product of the growth-development process. (Kahouli 6). Therefore, climate change has been the most challenging environmental problem of our time, and the determination of the environment-energy-economic growth link has attracted the attention of researchers (Acheampong et al. 7). It is possible to classify the studies in the existing environment-economics literature as (i) papers investigating the relationship between economic growth-energy consumption (Magazzino 8,9 ; Balsalobre-Lorente and Álvarez-Herranz 10 ; Taghvaee et al. 11 ; Brady and Magazzino 12 ; Ibrahiem 13 ; Balcilar et al. 14 ; Acheampong et al. 1,7 ; Xin-gang and Jin 15); (ii) studies estimating the nexus between economic growth and environment (Alvarado and Telodo 16 ; Nasrollahi et al. 17 ; Wang and Lee 18 ; Wang et al. 19); and (iii) papers analyzing the correlation among economic growth-energy consumption-environment (Magazzino 20 ; Balsalobre-Lorente et al. 21 ; Benali and Feki 22 ; Peng and Wu 23 ; Hasan et al. 24 ; Kongkuah et al. 25). This study can be defined as complementary to the previous papers in the context of energy economics. Moreover, the Russian-Ukrainian conflict is one of the factors that has inflamed the already "hot" prices of commodities: not only those used as energy sources (oil and gas) but also industrial metals and agricultural products (wheat and corn) that feed many countries of the world. Already before the conflict, commodity prices had risen sharply, driven by the economic recovery following the Corona Virus Disease 2019 (COVID-19) pandemic. The conflict has then complicated the scenario, even if an important aspect should be highlighted: since the financial markets thrive on expectations, the rising prices of commodities discount in advance future risks. Thanks to the large dimension of their territory, Russia and Ukraine are major producers of agricultural raw materials. The two countries account for nearly a third of the world's wheat exports and 15% of maize exports. Russia is also rich in natural resources. In addition to natural gas and oil, it boasts 25% of world palladium exports, 13% of nickel and platinum, and about 3% of aluminum and copper. Moreover, approximately 38% of the natural gas consumed annually in Europe comes from Russia (Magazzino and Mele 26). Also, Russia is one of the world's leading countries in terms of energy infrastructure and economic performance. It is known for its vast reserves of natural resources, including oil, natural gas, coal, and minerals. According to the IEA 27 report, Russia maintained its position as the world's leading exporter of natural gas in
Research Interests:
Purpose-In this paper, the heterogeneity of the linkages among financial development, productivity and growth across income groups is emphasized. Design/methodology/approach-An empirical analysis is conducted with an illustrative sample... more
Purpose-In this paper, the heterogeneity of the linkages among financial development, productivity and growth across income groups is emphasized. Design/methodology/approach-An empirical analysis is conducted with an illustrative sample of 130 economies over the period 1991-2019 and classified into four subsamples: Organisation for Economic Cooperation and Development (OECD), developing, least developed and net food importing developing countries. Forecast error variance decompositions and panel vector auto-regressive estimations are computed, with insightful findings. Findings-Higher levels of output stimulate the economic development in the agricultural sector, mainly via the productivity channel and, in the most developed economies, also through access to credit. Differently, in developing and least developed economies, the role of access to credit is marginal. The findings have practical implications for stakeholders involved in the planning of long-run investments. In less developed economies, priorities should be given to investments in technology and innovation, whereas financial markets are more suited to boost the development of the agricultural sector of developed economies. Originality/value-The authors conclude on the credit-output-productivity nexus and contribute to the literature in (at least) three ways. First, they assess how credit access, agricultural output and agricultural productivity are jointly determined. Second, they use a novel approach, which departs from most of the case studies based on single-country data. Third, they conclude on potential causality links to conclude on policy implications.
Research Interests:
What happens to the impact of tourism on environmental degradation as the income level of the nations or regions increases? The Environmental Kuznets Curve (EKC) hypothesis asserts that the influence of tourism on CO 2 emissions decreases... more
What happens to the impact of tourism on environmental degradation as the income level of the nations or regions increases? The Environmental Kuznets Curve (EKC) hypothesis asserts that the influence of tourism on CO 2 emissions decreases with a rise in income levels. This study captures the role of governance in the tourism-induced EKC hypothesis in the European Union (EU), after Brexit. Given that the United Kingdom (UK) is the most visited country in the region, and tourism is a very vital instrument to economic stability and growth, it would be interesting to inspect the relationship among these variables without the UK. Auto-Regressive Distributed Lags (ARDL) estimates show that tourist arrivals decrease carbon emissions in the long-run, while per capita growth fosters carbon emissions in the long-run. In addition, Quantile Regressions (QR) reveal that, in general, the governance indicators have positive effects on emissions. Moreover, for the first quantile, the TEKC emerges. Finally, regarding the causality relationship, a unidirectional relationship from per capita growth to carbon emission, and from carbon emission to tourism arrivals emerge, while no causal link exists between energy consumption and carbon emissions. Moreover, a feedback mechanism (bidirectional causality) is discovered between per capita growth and tourism arrivals, and energy consumption as per capita growth.
Research Interests:
This paper investigates the association between CO2 emissions and a range of factors, including electricity consumption, economic growth, urbanization, and trade openness for six Gulf Cooperation Council (GCC) countries using data... more
This paper investigates the association between CO2 emissions and a range of factors, including electricity consumption, economic growth, urbanization, and trade openness for six Gulf Cooperation Council (GCC) countries using data covering the 1965–2019 period. Namely, Oman, Saudi Arabia, the UAE, Kuwait, Bahrain, and Qatar. Contrasting with the standard literature, our empirical strategy uses the wavelet coherence approach on the frequency domain, thought to complement the time series econometric procedures reported earlier on this topic. Supplied at the country level, associated evidence presents far-reaching policy recommendations whose applications may directly benefit environmental planning and bring high information value for the sake of sustainable energies in the Gulf region.
Research Interests:
Purpose-This paper explores international trade of the Chinese manufacturing industries through the lenses of network analysis (NA) to visualise the world trade network of the Chinese economy, describe its topology and better explain the... more
Purpose-This paper explores international trade of the Chinese manufacturing industries through the lenses of network analysis (NA) to visualise the world trade network of the Chinese economy, describe its topology and better explain the international organisation of Chinese manufacturing industries. Design/methodology/approach-The authors built a dataset of 40,550 Chinese companies and their 107,026 subsidiaries in 118 countries from Orbis-BVD and used a NA to investigate the connection between China and other countries. In particular, the authors studied the connections between Chinese companies and their subsidiaries in order to build a network of Chinese industries. Findings-The authors found that the network of Chinese companies is ramified but not wide and it can be divided into two clusters. Moreover, the relations between China and other peripheral countries are strongly mediated by a few leading locations (e.g. Hong Kong and the USA). Originality/value-This paper contributes to the literature in several ways. First, the authors provide empirical evidence on the magnitude and ramifications of Chinese enterprises in the world. The existing studies generally focus on applying NA to sectoral insights (
Research Interests:
The globe is now in ecological turmoil as a result of the unrelenting increase in global warming. As a result, governments worldwide are committing to decarbonizing the environment, with the United Arab Emirates (UAE) and the Kingdom of... more
The globe is now in ecological turmoil as a result of the unrelenting increase in global warming. As a result, governments worldwide are committing to decarbonizing the environment, with the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA) playing an important role in this effort. Hence, this paper evaluates the nonlinear (asymmetric) impact of natural gas consumption on renewable energy consumption and economic growth in the KSA and the UAE utilizing data stretching from 1990 to 2020. The study also considers other drivers of renewable energy consumption and economic growth, such as trade openness and CO2 emissions. The study utilizes nonlinear autoregressive distributed lag (ARDL) to evaluate these associations. The outcomes of bounds nonlinear ARDL (NARDL), affirm the long-run association between the variables in both countries. The nonlinear results show that positive and negative shocks in natural gas consumption have a negative impact on renewable energy in both UAE and KSA. In contrast, positive and negative shocks in natural gas consumption impact economic growth positively. The study proposed vital policy recommendations based on these results.
Research Interests:
In the recent years, fintech industry of the fourth industrial revolution has grown multifold, which raised the concerns of scholars over the excessive usage of electricity. This paper places contribution to the existing literature by... more
In the recent years, fintech industry of the fourth industrial revolution has grown multifold, which raised the concerns of scholars over the excessive usage of electricity. This paper places contribution to the existing literature by analyzing the impact of fintech industry on environmental efficiency across selected EU countries. We also utilized indicators like high-tech industry and e-commerce along with fintech industry to better understand the relationship between fourth industrial revolution and environmental efficiency. This study used Data Envelopment Analysis (DEA) to evaluate environmental efficiency using two different techniques i.e., Slack-Base Measure (SBM) and Epsilon-Based Measure (EBM). Method of Moments Quantile (MMQ) regression is employed as a basic regression technique, while instrumental variables Generalized method of Moments (IV-GMM) is used for robust analysis. The results show that, the overall environmental efficiency of EU countries have improved over the years. As the indicators of the fourth industrial revolution, fintech industry and e-commerce exert a positive effect and improve environmental efficiency; however, high-tech industry reduces environmental efficiency. The results further show that, economic growth and green finance investment promote environmental efficiency, while industrialization and R&D deteriorates it. The results can be of special interest for the policy makers of technological world.
Research Interests:
Empirical studies of the EKC hypothesis may be very sensitive to datasets, specifications, and functional forms. The aim of this paper is to investigate the long-run relationship among CO 2 emissions, real GDP, and energy consumption... more
Empirical studies of the EKC hypothesis may be very sensitive to datasets, specifications, and functional forms. The aim of this paper is to investigate the long-run relationship among CO 2 emissions, real GDP, and energy consumption using a panel of 9 advanced economies from 1870 to 2008 using both parametric and semiparametric additive models. While at the panel level the results provide support to the Environmental Kuznets Curve (EKC) only in the post-1950s period, at the individual country level the inverted U-shaped relationship between CO 2 and real GDP is validated for a subset of countries only. However, when a semi-parametric regression framework is applied an inverse U-shaped pattern becomes clear for all countries of the sample, except Canada. Empirical findings indicate that relaxing the restrictions associated with parametric regression models may be critical for the question of investigating the existence of the EKC.
Research Interests:
By 2025, Belgium will phase-out nuclear power. Unassessed so far, this policy reform may modify the economic and environmental channels through which energy and society interfere in this country. In this paper, we investigate whether this... more
By 2025, Belgium will phase-out nuclear power. Unassessed so far, this policy reform may modify the economic and environmental channels through which energy and society interfere in this country. In this paper, we investigate whether this structural energy change may adversely impact the growth of the Belgian economy (i) and its ability to meet its long-term greenhouse gas emission targets (ii). A multivariate model comprising production factors (labor, capital, and exports), nuclear and renewable energy uses, total primary energy supply, economic growth, and CO 2 emissions from the power and heating sector is combined with real time-series data spanning the 1974-2019 period. The analysis consists in sequentially assessing two distinct nexuses (energyeconomy and energy-economy-environment) over reduced-and augmented frameworks (excluding and including nuclear energy), and through a two-stage empirical strategy: time-series econometric estimations (Toda-Yamamoto causality test, Impulse Response Functions (IRFs), and the Auto-Regressive Distributed Lags (ARDL) and Machine Learning (ML) experiments with a Partial Differential Equations (PDEs) algorithm. For robustness purposes, we conduct two seminal tests which relate to dynamic predictive processes (T-Mat and Verticality tests). Besides confirming the time-series findings, our ML results highlight the necessity to timely manage the process of nuclear phase-out, along with a progressive deployment of installed renewable energy capacity. This should avoid additional economic costs, energy security threats, and undermining of climate targets. In doing so, this study combines macro-level nexus investigations with the politics and institutional determinants of nuclear energy reliance and seeks to bring inclusive knowledge on this topic.
Research Interests:
Editorial on the Research Topic The nexus between the transportation sector and sustainable development goals: Theoretical and practical implications The most important issues at the forefront of world public opinion, especially in the... more
Editorial on the Research Topic The nexus between the transportation sector and sustainable development goals: Theoretical and practical implications The most important issues at the forefront of world public opinion, especially in the last 20 years, are undoubtedly global warming, environmental degradation, and sustainable development, together with their important political, social, cultural, and demographic underpinnings. The common concern of scientists, politicians, the business world, and relevant other stakeholders is that today's relations of consumption and production are no longer environmentally sustainable. To prevent these problems, the United Nations (UN) took some important decisions. Among these, the contribution of the transportation sector to the current environmental problems is a central one that the Sustainable Development Goals (SDGs) address. Abundant literature has developed on the relationships between energy consumption, environmental pollution, maritime transport, and economic development (
Research Interests:
The coronavirus disease 2019 (COVID-19), with new variants, continues to be a constant pandemic threat that is generating socioeconomic and health issues in manifold countries. The principal goal of this study is to develop a machine... more
The coronavirus disease 2019 (COVID-19), with new variants, continues to be a constant pandemic threat that is generating socioeconomic and health issues in manifold countries. The principal goal of this study is to develop a machine learning experiment to assess the effects of vaccination on the fatality rate of the COVID-19 pandemic. Data from 192 countries are analysed to explain the phenomena under study. This new algorithm selected two targets: the number of deaths and the fatality rate. Results suggest that, based on the respective vaccination plan, the turnout in the participation in the vaccination campaign, and the doses administered, countries under study suddenly have a reduction in the fatality rate of COVID-19 precisely at the point where the cut effect is generated in the neural network. This result is significant for the international scientific community. It would demonstrate the effective impact of the vaccination campaign on the fatality rate of COVID-19, whatever the country considered. In fact, once the vaccination has started (for vaccines that require a booster, we refer to at least the first dose), the antibody response of people seems to prevent the probability of death related to COVID-19. In short, at a certain point, the fatality rate collapses with increasing doses administered. All these results here can help decisions of policymakers to prepare optimal strategies, based on effective vaccination plans, to lessen the negative effects of the COVID-19 pandemic crisis in socioeconomic and health systems.
Research Interests: Machine Learning, Crisis Management, Applications of Machine Learning, Statistical machine learning, Infectious Diseases, and 12 moreEmerging Infectious Diseases, Ecology of infectious diseases, Clinical Decision Support System, Machine Learning Big Data, Applied Machine Learning, Covid-19, Coronavirus COVID-19, SARS-CoV2/COVID-19:, COVID-19 PANDEMIC, Economic effects of COVID-19 , PANDEMIA Covid 19, and COVID-19 Vaccine
Although the literature on the relationship between economic growth and CO2 emissions is extensive, the use of machine learning (ML) tools remains seminal. In this paper, we assess this nexus for Italy using innovative algorithms, with... more
Although the literature on the relationship between economic growth and CO2 emissions is extensive, the use of machine learning (ML) tools remains seminal. In this paper, we assess this nexus for Italy using innovative algorithms, with yearly data for the 1960–2017 period. We develop three distinct models: the batch gradient descent (BGD), the stochastic gradient descent (SGD), and the multilayer perceptron (MLP). Despite the phase of low Italian economic growth, results reveal that CO2 emissions increased in the predicting model. Compared to the observed statistical data, the algorithm shows a correlation between low growth and higher CO2 increase, which contradicts the main strand of literature. Based on this outcome, adequate policy recommendations are provided.
Research Interests:
The price movement of commodities in general and crude oil, in particular, are critical for both commodity-consuming and producing countries. The prime objective of this study is to examine the characteristic behavior of commodity futures... more
The price movement of commodities in general and crude oil, in particular, are critical for both commodity-consuming and producing countries. The prime objective of this study is to examine the characteristic behavior of commodity futures and commodity index and the dynamic relationships between commodity index and commodity futures. The study first investigates the evolution of volatility of Bloomberg commodity index (BCOM) and WTI crude oil (CRUDE) prices at different time scales using Wavelet Power Spectrum Analysis. Second, the correlation and causality between BCOM and CRUDE are investigated using Wavelet Coherency and Phase Difference methodology. The average level volatility of BCOM and CRUDE is different at different time scales. Wavelet Coherence shows that they are correlated in medium to long term periods and not in the short term. Further, during the period of changed correlation structure over the study period, the causality structure between BCOM and CRUDE is also changed at different time scales. Therefore, policy measures to control prices should be different in the short term than in the medium to long term when both the prices are not correlated.
Research Interests:
The aim of this study is to explore the nexus among CO 2 emissions, energy use, and GDP in Russia using annual data ranging from 1970 to 2017. We first conduct time-series analyses (stationarity, structural breaks, and cointegration... more
The aim of this study is to explore the nexus among CO 2 emissions, energy use, and GDP in Russia using annual data ranging from 1970 to 2017. We first conduct time-series analyses (stationarity, structural breaks, and cointegration tests). Then, we present a new D2C algorithm, and we run a Machine Learning experiment. Comparing the results of the two approaches, we conclude that economic growth causes energy use and CO 2 emissions. However, the critical analysis underlines how the variance decomposition justifies the qualitative approach of using economic growth to immediately implement expenses for the use of alternative energies able to reduce polluting emissions. Finally, robustness checks to validate the results through a new D2C algorithm are performed. In essence, we demonstrate the existence of causal links in sub-permanent states among these variables. Keywords CO 2 emissions • Energy use • Economic growth • Machine learning • D2C algorithm • Time-series • Russia JEL Classification B22 • C32 • N55 • Q43
Research Interests: Machine Learning, Time Series, Economic Growth, Time series Econometrics, Applications of Machine Learning, and 9 moreStatistical machine learning, Time-Series Analysis, Time series analysis, Russia, CO2 emissions, Time Series Data, Energy Use, Machine Learning Big Data, and Time Series Analysis and Forecasting
We explore the fiscal sustainability in the six Gulf Cooperation Council (GCC) countries over the period 1990-2017. Panel unit root tests in presence of crosssectional dependence for government revenues, expenditures, the primary balance,... more
We explore the fiscal sustainability in the six Gulf Cooperation Council (GCC) countries over the period 1990-2017. Panel unit root tests in presence of crosssectional dependence for government revenues, expenditures, the primary balance, and debt reach mixed results. However, cointegration tests reveal that a long-run relationship exists between government revenues and expenditures, while the relationship between government primary deficit and debt is controversial. Panel estimates of the cointegrating relationship indicate that Saudi Arabia is in a condition of risk, having to keep the debt under control. Yet, Bahrain and Qatar seem to face the toughest challenges. The results of causality tests support the hypothesis of fiscal synchronization, implying that the GCC governments take decisions on their revenues and expenditures simultaneously.
Research Interests:
Climate change presents the greatest challenge facing all countries of the world in the new millennium. Among others, objective 13 of the Sustainable Development Goals (SDGs) aims at adopting urgent measures to contrast climate change and... more
Climate change presents the greatest challenge facing all countries of the world in the new millennium. Among others, objective 13 of the Sustainable Development Goals (SDGs) aims at adopting urgent measures to contrast climate change and its consequences. Part of the decline in the global growth of emissions has been the increase in using renewable energies. In this context, the relationship among GDP, CO2 emissions, and renewable energy use has been investigated in this study, starting from a systematic review that has noticed the presence of three clusters focused on: CO2 emissions, GDP, and energy consumption. Despite the current level of interest in examining the relationship among these variables, there have been few empirical studies. To fill this knowledge gap, this paper has been focused on the Scandinavian countries, where the use of renewable energies has steadily increased, developing novel panel analysis estimates. Using a dataset of these five economies over a 1990–2018 time period, several panel data tests have been carried out, in order to robustly assess the causality issue among renewable energies, CO2 emissions, and GDP. The results of the empirical analysis imply that renewable energy consumption is a useful policy instrument to reduce CO2 emissions without adversely affecting GDP growth. The main implications have been that the decrease of CO2 emissions, by increasing renewable energy use, can guarantee high levels of energy efficiency and economic growth. These empirical findings help design innovative energy policy roadmaps and accelerate the ecological transition through the promotion of renewable energy and the reduction of GHG emissions.
Research Interests:
This study investigates the co-movements of gasoline and diesel prices in three European countries (i.e. Germany, France, and Italy) with different fuel tax systems in place. The methodology follows a time–frequency approach, allowing us... more
This study investigates the co-movements of gasoline and diesel prices in three European countries (i.e. Germany, France, and Italy) with different fuel tax systems in place. The methodology follows a time–frequency approach, allowing us to analyse the co-movements at different frequencies and moments in time. As a novelty, we study the impact of fuel tax systems and international oil price dynamics on gasoline and diesel price co-movement. Using weekly data spanning the period from January 2005 to June 2021, the wavelet coherence analysis shows co-movements between gasoline and diesel at all frequencies, as well as during specific periods, but stronger in the long run. This evidence is recorded across all three countries, regardless of their tax systems. However, in decoupling the effect of international oil prices, the partial wavelet coherence analysis shows co-movements emerging also in the short run, with them being stronger around the global financial crisis (2008–2009). Although gasoline taxes are generally higher than diesel taxes, the analysis highlights that fuel tax systems do not influence the co-movements of fuel prices. Thus, shedding new light on the co-movement between commodity prices is fundamental, particularly in light of the current international geopolitical scene.
Research Interests:
This study aims to investigate the nexus among waste generation, economic growth, and greenhouse gas (GHG) emissions in a circular economy framework for the case of Switzerland. Using two different empirical approaches (Dynamic... more
This study aims to investigate the nexus among waste generation, economic growth, and greenhouse gas (GHG) emissions in a circular economy framework for the case of Switzerland. Using two different empirical approaches (Dynamic Auto-Regressive Distributed Lags and Fuzzy Cognitive Maps), time-series results show that municipal waste and economic growth have both a short- and a long-run impact on GHG emissions. Moreover, causality analyses evidence the presence of a unidirectional causal flow running from municipal waste and economic growth to greenhouse gas emissions, while a bidirectional causality between municipal waste and economic growth. The results of the static analysis of the municipal solid waste cognitive map show that the most significant system variables relate to the domains of “policy drivers” (education and awareness campaigns and extended producer responsibility) and “environment and health” (GHG emissions). Findings of the policy scenario simulations reveal that the most effective drivers are those about the mission-oriented policy approach.
Research Interests:
The aim of this paper is to assess the causal relationship among innovation in environment-related technologies, per capita income, and three major waste disposal operations (landfill, recycling, and incineration) for Korea. A time-series... more
The aim of this paper is to assess the causal relationship among innovation in environment-related technologies, per capita income, and three major waste disposal operations (landfill, recycling, and incineration) for Korea. A time-series analysis over the frequency domain (Breitung-Candelon Spectral Granger causality) is applied, followed by Artificial Neural Networks experiments over the 1985-2016 period. Empirical results highlight that economic growth is tightly linked both to the growth of recycled waste and to the increase of environment-related innovations. Findings also highlight that waste recycling operations can spur the level of economic activity.
Research Interests: South Korea, Time Series, Time series Econometrics, Waste Management, Time-Series Analysis, and 8 moreIT and Innovation, Neural Network, Time series analysis, Artificial Neural Networks for modeling purposes, Artificial Neural Networks, Time Series Data, Time Series Analysis and Forecasting, and Artificial Neural Network
Among the Sustainable Development Goals, ‘Green Issues’ have attracted significant research on sustainability transitions and regional diversification. The introduction of green environmental technologies within the frame of the Fourth... more
Among the Sustainable Development Goals, ‘Green Issues’ have attracted significant research on sustainability transitions and regional diversification. The introduction of green environmental technologies within the frame of the Fourth Industrial Revolution is crucial for the diversification of local, sustainable activities to protect the environment against negative climate changes. The present paper provides evidence of the positive correlation among green activities if, and only if, green culture and capabilities are robust and exist. Close international coordination is needed. We point out that smart energy-designed systems are a real revolution in the post-industrial society dominated by the service sectors. Therefore, promoting ‘intelligent’ meters is a robust policy action in world energy-based economies. We investigate the policy effects for smart meter rollout in European countries by testing this green policy tool on different economic literature strands. A theoretical model is introduced, showing that a sustainable and efficient policy instrument will reinforce and develop local green culture. The spatial unit of investigation is the EU-28, and it verifies the effectiveness of smart meters as a valid post-industrial design tool toward more sustainable environmental policies.
Research Interests:
The adoption of Sustainable Development Goals (SDG) in 2015 shifted the attention towards sustainability-related concerns in both developing and developed counties. The aim of this paper is to examine how agricultural productivity – a key... more
The adoption of Sustainable Development Goals (SDG) in 2015 shifted the attention towards sustainability-related concerns in both developing and developed counties. The aim of this paper is to examine how agricultural productivity – a key driver in achieving many of these SDGs – is affected by carbon emissions, deforestation, renewable energy consumption, natural resources, and regional integration for the ten Association of Southeast Asian Nations (ASEAN) countries. Using the Mean Group (MG) class estimators, able to tackle the cross-sectional dependence in the data, empirical findings reveal that environmental degradation (in the form of CO2 emissions) reduces agricultural productivity in the region. Both the forest area and natural resource variables negatively affect the productivity of the agricultural sector, while the use of renewable energy sources positively contributes to the agricultural sector. However, despite being one of the highest integrated regions in the world, regional integration among the ASEAN members does not boost their agricultural productivity. The causality tests confirm the existence of bidirectional causality between agricultural productivity and renewable energy consumption, and unidirectional causality across a few other variables. Accordingly, the study provides policy recommendations for the governments of ASEAN economies on improving the environmental performance of agriculture and achieving the SDGs by 2030.
Research Interests: Renewable Energy, Agriculture, Renewable energy resources, Panel Data, Econometrics Models - Panel Data, and 7 moreNatural Resources Management, Panel Data Analysis, ASEAN Studies, Carbon Emissions, Forestry and Natural Resources Management, Ecological Agriculture, and Sustainable Development Goals (SDGs)
In this paper, we analyze the relationship between government expenditures and revenues for Italy over the period 1862–2013. The analysis of the expenditures-revenues nexus is also relevant from the point of view of fiscal sustainability.... more
In this paper, we analyze the relationship between government expenditures and revenues for Italy over the period 1862–2013. The analysis of the expenditures-revenues nexus is also relevant from the point of view of fiscal sustainability. Our empirical strategy adopts the wavelet analysis approach. The empirical evidence demonstrates the relevance of the frequency domain in analyzing the relationship between government expenditures and revenues, which may lead to alternative policy implications. Indeed, after the recent economic crises, guaranteeing its own financial stability is an increasingly difficult task for a highly indebted government like the Italian one.
Research Interests: Public Finance, Public Economics, Time Series, Public Budgeting and Finance, Time series Econometrics, and 11 moreTime-Series Analysis, Time series analysis, Wavelet, Wavelets, Italy, Wavelet Transform, Wavelet Transforms, Finanzas Públicas, Time Series Data, Fiscal Sustainability, and Time Series Analysis and Forecasting
In this paper, we analyze the sustainability of Italian public finances using a unique database covering the period 1862-2013. This paper focuses on empirical tests for the sustainability and solvency of fiscal policies. A necessary but... more
In this paper, we analyze the sustainability of Italian public finances using a unique database covering the period 1862-2013. This paper focuses on empirical tests for the sustainability and solvency of fiscal policies. A necessary but not sufficient condition implies that the growth rate of public debt should in the limit be smaller than the asymptotic rate of interest. In addition, the debt-to-GDP ratio must eventually stabilize at a steady-state level. The results of unit root and stationarity tests show that the variables are non-stationary at levels, but stationary in first-differences form, or I(1). However, some breaks in the series emerge, given internal and external crises (wars, oil shocks, regime changes, institutional reforms). Therefore, the empirical analysis is conducted for the entire period, as well as two sub‐periods (1862‐1913 and 1947‐2013). Moreover, anecdotal evidence and visual inspection of the series confirm our results. Furthermore, we conduct tests on coi...
This paper demonstrates how the combustion of fossil fuels for transport purpose might cause health implications. Based on an original case study [i.e. the Hubei province in China, the epicentre of the coronavirus disease-2019 (COVID-19)... more
This paper demonstrates how the combustion of fossil fuels for transport purpose might cause health implications. Based on an original case study [i.e. the Hubei province in China, the epicentre of the coronavirus disease-2019 (COVID-19) pandemic], we collected data on atmospheric pollutants (PM2.5, PM10 and CO2) and economic growth (GDP), along with daily series on COVID-19 indicators (cases, resuscitations and deaths). Then, we adopted an innovative Machine Learning approach, applying a new image Neural Networks model to investigate the causal relationships among economic, atmospheric and COVID-19 indicators. Empirical findings emphasise that any change in economic activity is found to substantially affect the dynamic levels of PM2.5, PM10 and CO2 which, in turn, generates significant variations in the spread of the COVID-19 epidemic and its associated lethality. As a robustness check, the conduction of an optimisation algorithm further corroborates previous results.
Research Interests: Artificial Intelligence, Neural Networks, Air pollution, Air Pollution and Health Effects, China, and 15 moreArtficial Neural Networks, Neural Network, Artificial Neural Networks for modeling purposes, Artificial Neural Networks, Air Pollution Control, Inteligencia artificial, Air Pollution Modelling, Artifical Neural Networks, Artificial Neural Network, Covid-19, Coronavirus COVID-19, Pandemic Coronavirus COVID19, COVID-19 PANDEMIC, Economic effects of COVID-19 , and PANDEMIA Covid 19
This paper critically assesses the effect of fossil fuel dependence and polluting emissions from the transport sector on the performance of logistics operations in the context of Green Supply Chain Management (GSCM). We collected... more
This paper critically assesses the effect of fossil fuel dependence and polluting emissions from the transport sector on the performance of logistics operations in the context of Green Supply Chain Management (GSCM). We collected macro-level time-series data for a sample of 27 European Union (EU) countries over the period 2007–2018. A new Artificial Neural Networks (ANNs) algorithm is adopted in a multivariate framework to investigate the dynamic interactions among a range of Logistics Performance Indexes (LPI), the demand for oil products, and carbon dioxide (CO2) emissions from fuel combustion in the transport sector. Empirical findings show that oil product consumption and CO2 emissions sharply influence the transport logistics indexes. However, a feedback relationship is discovered for environmental pollution, indicating that oil use is not significantly driven by supply chain performance. Based on our empirical insights, adequate policy recommendations are provided to help turning the logistics sector towards a more sustainable path in the European area.
Research Interests: Artificial Intelligence, Logistics, European Union, Neural Networks, Artficial Neural Networks, and 15 moreNeural Network, Artificial Neural Networks for modeling purposes, Green Supply Chain Management, Artificial Neural Networks, Artificial Inteligent, Inteligência Artificial, CO2 emissions, Inteligencia artificial, Artificial Intelligence And Techniques, Artifical Neural Networks, Green Supply Chain Management (GSCM), Green Supply Chains, Logistics Performance Index, Artificial Neural Network, and Artificial Intelligent and Soft Computing Methodologies
This paper aims to investigate the causal links among export diversification, per capita income, and energy demand for 20 Asia-Pacific Economic Cooperation (APEC) countries. Human capital, industry share, and Foreign Direct Investments... more
This paper aims to investigate the causal links among export diversification, per capita income, and energy demand for 20 Asia-Pacific Economic Cooperation (APEC) countries. Human capital, industry share, and Foreign Direct Investments (FDI) are included within a multivariate framework. Using data covering the 1995–2018 period, an innovative sequential Artificial Neural Networks experiment is developed. Empirical results highlight that the export diversification index negatively affects the neural target corresponding to energy demand. Conversely, per capita GDP displays a significant influence on the acceleration of the same energy target. Hence, findings suggest that export diversification plays a mitigating role in the demand for energy, which is congruent with the literature. Moreover, economic growth is found to be substantially driven by export diversification, while no evidence of a causal effect is found among export diversification, human capital, and FDI. Such inferences are finally corroborated by a Decision Tree model, conducted as a final robustness check. In line with the Sustainable Development Goals (SDGs), adequate measures are suggested to improve energy savings along the supply chain, without hindering the economic performance of the Asian region.
Research Interests: Artificial Intelligence, Neural Networks, Human Capital, Artficial Neural Networks, Artificial Neural Networks, and 12 moreExport-Import, Energy demand, Foreign Direct Investment (FDI), Foreign Direct Investments (FDI) in the Transition Countries and Economic Growth, Human Capital Development, Inteligencia artificial, Foreign Direct Investment ( FDI ), APEC, Artifical Neural Networks, Exporting and International Trade, Desenvolvimento Do Capital Humano, and Artificial Intelligent and Soft Computing Methodologies
RESUMO: Este artigo tem como objetivo analisar as inovações introduzidas nas funções do Fundo Monetário Internacional no contexto da crise econômica e financeira de 2008. Isso promoveu uma ação que teve como objetivo fortalecer a função... more
RESUMO: Este artigo tem como objetivo analisar as inovações introduzidas nas funções do Fundo Monetário Internacional no contexto da crise econômica e financeira de 2008. Isso promoveu uma ação que teve como objetivo fortalecer a função de vigilância por meio da adoção da Vigilância Integrada. Assim, a par da condicionalidade tradicional baseada na implementação a posteriori de políticas econômicas adequadas, introduziu-se também um critério de condicionalidade ex ante nos ramos de precaução ou em função das características econômicas do país a financiar. No que diz respeito à condicionalidade tradicional, será perguntado se o FMI adotou uma abordagem menos abrangente do que seu papel. PALAVRAS-CHAVE: IMF; taxa de câmbio; reforma da governança; função de vigilância.
Research Interests:
The paper analyzes the impact of the detective Montalbano television series on tourism in Ragusa province. We collected ISTAT data on arrivals and presences of Italians and foreigners from 1990 to 2008, in order to obtain the touristic... more
The paper analyzes the impact of the detective Montalbano television series on tourism in Ragusa province. We collected ISTAT data on arrivals and presences of Italians and foreigners from 1990 to 2008, in order to obtain the touristic density index (=arrivals of tourists/area of the considered territory) and the touristic specialization index (=touristic presences/number of residents) for the new touristic development index by Forte and Mantovani, which is conceived to measure the “touristicness” degree of given territories in comparison with others as benchmark. This index corresponds to the arithmetic average of the above mentioned indices. The results of this statistical analysis have been related to the “touristic fashion cycle” built on the lines of Forte and Mantovani “fashion cycle”. A little but significant effect emerges because, since 2000, the province of Ragusa showed a differential touristic development in relation to the touristic flows in Sicily, if compared with the...
Existing studies reveal opposing results regarding the economic growth and infrastructure nexus, which emanates from the differences in scale, timing and stage of development. In this paper, we explore the relationship between railway... more
Existing studies reveal opposing results regarding the economic growth and infrastructure nexus, which emanates from the differences in scale, timing and stage of development. In this paper, we explore the relationship between railway networks and real GDP controlling for energy consumption, over the period 1861–1970 in Italy. The empirical strategy uses both AutoRegressive Distributed Lags (ARDL) model and the Wavelet Analysis (WA), which is able to adopt to scale and time support, thereby enabling one to escape the Heisenberg's curse. Our applied findings show that the two series are generally positive correlated (being in phase), but also that railway networks cause real value added in the long-run. Thus, through an innovative approach, we can confirm previous results in literature: in fact, railway networks represent a determinant of economic growth in the Italian case.
Research Interests: Railway Transport, Time Series, Time series Econometrics, Energy Consumption, Energy Production & Consumption, and 13 moreEarly Modern Italy, Time-Series Analysis, Time series analysis, Wavelet, Wavelets, Wavelet Transform, Wavelet Transforms, Railway, Discrete wavelet transform, ARDL Cointegration, Time Series Analysis and Forecasting, Energy Consumption and Economic Growth, and Railway Networks
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
The theme of sustainability transition has been the subject of an increasing number of research in recent years. This contribution aims to highlight the close links existing between several issues (that are apparently distant from each... more
The theme of sustainability transition has been the subject of an increasing number of research in recent years. This contribution aims to highlight the close links existing between several issues (that are apparently distant from each other, but all related to sustainability) and Artificial Intelligence (AI). In particular, we want to underline the interdependencies—and possible developments—mong climate change, pandemics, migration, and geopolitics, in light of the new discoveries of AI.
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests: Italy and Privatizzazioni
Research Interests:
Research Interests:
Research Interests:
Questa ricerca analizza l’evoluzione e i mutamenti del Sistema Monetario Internazionale (s.m.i.) nel passaggio dall’egemonia del dollar standard all’adozione possibile di un vero approccio multivalutario. I saggi presentati ripercorrono... more
Questa ricerca analizza l’evoluzione e i mutamenti del Sistema Monetario Internazionale (s.m.i.) nel passaggio dall’egemonia del dollar standard all’adozione possibile di un vero approccio multivalutario. I saggi presentati ripercorrono le tappe fondamentali della evoluzione del s.m.i., soffermandosi su alcuni problemi ad essa connessi.
Research Interests:
Indiscussa icona degli anni Ottanta, Margaret Thatcher è stata Primo ministro dal 1979 al 1990 e prima donna ad aver ricoperto questa carica vincendo tre elezioni consecutive con la sua "rivoluzione conservatrice": durante la recessione... more
Indiscussa icona degli anni Ottanta, Margaret Thatcher è stata Primo ministro dal 1979 al 1990 e prima donna ad aver ricoperto questa carica vincendo tre elezioni consecutive con la sua "rivoluzione conservatrice": durante la recessione del 1980, la Thatcher prese di petto la spesa pubblica, l'inflazione e i sindacati, portando il paese verso la crescita. Questa raccolta, frutto di un importante convegno organizzato a Roma nel 2014 dall'associazione Rete Liberale, intende affrontare, attraverso il contributo di autorevoli esponenti del mondo accademico e culturale italiano, e le tesi che hanno portato alla nascita del "thatcherismo", pensiero che fonde conservatorismo e liberalismo di stampo friedmaniano. Il libro, inoltre, ripercorre il momento dell'ascesa di questa donna straordinaria e le azioni politiche che la porteranno ad essere soprannominata "The Iron Lady".
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests:
Research Interests: Calabria and Rent Seeking
Research Interests:
We selected three major French cities (Paris, Lyon, and Marseille) to investigate the relationship between the COVID-19 outbreak and air pollution. Using Artificial Neural Networks experiments, we have determined the concentration of... more
We selected three major French cities (Paris, Lyon, and Marseille) to investigate the relationship between the COVID-19 outbreak and air pollution. Using Artificial Neural Networks experiments, we have determined the concentration of PM2.5 and PM10 linked to COVID-19-related deaths. Our focus is on the potential effects of Particulate Matter in spreading the epidemic. The underlying hypothesis is that a predetermined particulate concentration can foster COVID-19 and make the respiratory system more susceptible to this infection. The empirical strategy used an innovative Machine Learning methodology. In particular, through the so-called cutting technique in ANNs, we found new threshold levels of PM2.5 and PM10 connected to COVID19: 17.4 µg/m 3 (PM2.5) and 29.6 µg/m 3 (PM10) for Paris; 15.6 µg/m 3 (PM2.5) and 20.6 µg/m 3 (PM10) for Lyon; 14.3 µg/m 3 (PM2.5) and 22.04 µg/m 3 (PM10) for Marseille.