E7 Countries Research Articles

The nexus between economic growth, health expenditure, environmental quality: a comparative study for E7 countries.

The motivation of this study is to analyze the relationship between economic growth, health expenditures, environmental pollution, gross fixed capital formation and labor force by using annual data of E7 countries for theperiod 2000 to 2018. The co-integration coefficient of thevariables was analyzed using the PMG technique, and the causality relationship between the variables was analyzed using the Emirmahmutoglu F, Kose N. Testing for granger causality in heterogeneous mixed panels. Econ Modell 2011;28:870-6 technique. In the empirical findings, the elasticity coefficient of health expenditures, environmental pollution, gross fixed capital formation and labor force variables is positive and significant. On the other hand, in the results of the causality relationship, it was concluded that economic growth and health expenditures are causal. Itis concluded that economic growth is causal to CO2 emissions. In addition, CO2 emissions are the cause of health expenditures. As a result of the empirical findings obtained, the implementation of policies that will reduce environmental pollution in the perspective of sustainable growth will also affect health expenditures.

Deep learning based an efficient hybrid prediction model for Covid-19 cross-country spread among E7 and G7 countries

The COVID-19 pandemic has caused the death of many people around the world and has also caused economic problems for all countries in the world. In the literature, there are many studies to analyze and predict the spread of COVID-19 in cities and countries. However, there is no study to predict and analyze the cross-country spread in the world. In this study, a deep learning based hybrid model was developed to predict and analysis of COVID-19 cross-country spread and a case study was carried out for Emerging Seven (E7) and Group of Seven (G7) countries. It is aimed to reduce the workload of healthcare professionals and to make health plans by predicting the daily number of COVID-19 cases and deaths. Developed model was tested extensively using Mean Squared Error (MSE), Root Mean Squared Error (RMSE), Mean Absolute Error (MAE) and R Squared (R2). The experimental results showed that the developed model was more successful to predict and analysis of COVID-19 cross-country spread in E7 and G7 countries than Linear Regression (LR), Random Forest (RF), Support Vector Machine (SVM), Multilayer Perceptron (MLP), Convolutional Neural Network (CNN), Recurrent Neural Network (RNN) and Long Short-Term Memory (LSTM). The developed model has R2 value close to 0.9 in predicting the number of daily cases and deaths in the majority of E7 and G7 countries.

Analysis of Competitiveness of Türkiye Among E7 Countries in Terms of Selected Chapters

This study aims to analyze the competitiveness of Türkiye, which is among the E7 countries, with other countries in this group in terms of some selected sectors. The Comparative Export Performance (CEP) Index was used to measure competitiveness with these countries. The first five chapters in which Türkiye has achieved the highest increase in exports in the last ten years were considered through HS (Harmonized System) codes. In comparing these chapters, the CEP indexes were calculated using the 2011-2020. Chapters subject to research are 97-Works of art, collector's pieces, and antiques, 81-Other base metals employed in metallurgy and articles thereof, 96-Miscellaneous manufactured articles (pens and brushes, etc.), 75-Nickel and articles thereof and 23-Residues and waste from the food industries, prepared animal fodder. According to the findings, in 97, Türkiye has a higher export performance than Russia and Mexico, and its export performance has also increased against Indonesia since 2016. In 81, Türkiye has a better export performance against India, Indonesia, and Mexico. In, there is a higher export performance than other countries except for China. In 75, the export performance of Türkiye increased against China, India, and Brazil, especially after 2016, and showed a better performance despite a changing graphic with Mexico. Also, in 23, it can be said that although the export performance against China and Mexico has differed over the years, it has gained momentum in this process.

Post-COVID-19 pandemic and the Paris agreement: a socioeconomic analysis and carbon emissions forecasting in developed and developing countries.

Research methodology for assessing the pandemic's impacts on the G7 and E7 countries' long-term carbon trajectory curve. The online version contains supplementary material available at 10.1007/s10098-023-02508-0.

Asymmetric impacts of geopolitical risk on stock markets: A comparative analysis of the E7 and G7 equities during the Russian-Ukrainian conflict

Asymmetric impacts of geopolitical risk on stock markets: A comparative analysis of the E7 and G7 equities during the Russian-Ukrainian conflict

Colligating ecological footprint and economic globalization after COP21: Insights from agricultural value-added and natural resources rents in the E7 economies

ABSTRACT While economic globalization and resource utilization continue to foster growth among nations, the Paris Convention adopted at COP21 has highlighted some imminent environmental dangers facing humanity if pertinent collective climate actions are ignored. Thus, this study assesses the links between ecological footprint and economic globalization among the E7 nations in the aftermath of COP21. This study fills the gap in the literature on the E7 bloc by accounting for the unexplored role of agricultural value-added while accounting for the impacts of resources rent, disaggregated energy use, and economic growth towards addressing environmental-related Sustainable Development Goals (SDGs) in the bloc. A combination of estimation techniques, including the Dynamic Ordinary Least Squares (DOLS), Fully Modified Ordinary Least Squares (FMOLS), and Panel-ARDL, was employed to address methodological flaws while analyzing data ranging from 1990 to 2019. The results show that globalization and agricultural activities have exacerbated ecological footprint to the detriment of the E7’s environmental quality. The results further indicate that the expansion of economic activities in the E7 countries has also increased the conventional energy consumption (oil, coal, and gas for electricity generation), thereby translating to environmental deterioration via a higher ecological footprint. Overall, to ensure a sustainable environment in our increasingly globalized world, the study posits that policymakers in the E7 should facilitate proper implementation of environmental damage cost in addition to maintaining strategic resource control measures in order to increase the awareness of the explorers of natural resources and other international organizations of their economic activities beyond business as usual.

The contribution of different aspects of financial development to renewable energy consumption in E7 countries: The transition to a sustainable future

The contribution of different aspects of financial development to renewable energy consumption in E7 countries: The transition to a sustainable future

Impact of economic policy uncertainty, geopolitical risk, and economic complexity on carbon emissions and ecological footprint: an investigation of the E7 countries.

There is a plethora of studies on the energy-consumption-environmental-quality nexus. Nevertheless, empirical research on the impact of global uncertainties on environmental quality is lacking. This study contributes to the literature by examining the impact of economic policy uncertainty (EPU), geopolitical risk (GPR), and economic complexity on the ecological footprint and carbon emissions of E7 economies for the period 1995-2018. Our empirical results indicate a long-term relationship between economic complexity, EPU, GPR, energy consumption, and two environmental quality indicators, carbon dioxide emissions and ecological footprint. In the long run, a divergence from disequilibrium takes 3years to return to the equilibrating position. The environmental effects of key determinants are different in terms of direction, magnitude, and time span. Specifically, an inverted U-shape describes the relationship between economic complexity and environmental degradation in the long-term only, which confirms the environmental Kuznets curve (EKC) hypothesis. The environmental effects of EPU and GPR are harmful in the short run but prove to be beneficial in the long run. Higher energy consumption significantly degrades environment quality as expected. Based on these findings, the paper provides several useful suggestions for policymakers in the context of E7 countries.

Financial Development and Environmental Degradation: Promoting Low-Carbon Competitiveness in E7 Economies’ Industries

Emerging countries are approaching economic prosperity. However, the development process has enhanced their ecological footprints, thus promoting low-carbon competitiveness among E7 countries' industries. Therefore, it is essential to identify the factors that affect a country's ecological footprint (EF) in order to safeguard the environment. This study explored the effect of financial development, human capital, and institutional quality on the EF of emerging countries. Furthermore, we explored the effect of financial development on the EF of emerging countries through the human capital channel. In addition, we investigated the role of institutional quality in the financial development-EF nexus. Using panel data from 1990 to 2018, we employed the cross-sectional autoregressive distributed lag (CS-ARDL) technique to conduct a short-term and long-term empirical analysis. The empirical outcomes revealed that financial development degrades ecological quality by raising the EF. The findings further demonstrated that human capital and institutional quality reduce the EF. Moreover, financial development fosters environmental sustainability through the channel of human capital. Additionally, institutional quality reduces the negative ecological impacts of financial development. The causality analysis suggested that any policy related to financial development, human capital, and institutional quality will affect the EF. However, the inverse conclusion was not sustained. Based on these findings, emerging economies should increase their environmental sustainability by promoting human capital and effectively using financial resources.

BİR YATIRIM ARACI OLARAK BİTCOİN: BİTCOİN İLE GLOBAL TEKNOLOJİ ENDEKSLERİ ARASINDA ASİMETRİK NEDENSELLİK İLİŞKİLERİ

The concept of blockchain and cryptocurrencies is one of the most popular concepts of recent years. Cryptocurrencies were first introduces with Bitcoin in 2008 and now they have an increasing variety and popularity. Recent developments in technology firms have brought into question whether there is a relationship between Bitcoin and technology indexes. To this end, this study investigates the causality relationship between Bitcoin and technology indexes using monthly data between the years 2016 and 2021 in G7 and E7 countries. To test the causality relationship between the variables, the Hatemi-J (2012) asymmetric causality test was used. Hatemi-J (2012) test reveals that the relationship between bitcoin and technology indexes becomes different for G7 and E7 countries. The results suggest that developed countries affect bitcoin prices while developing countries are affected by Bitcoin prices. The conclusion is that findings point out the existence of an asymmetric relationship between the series for G7 and E7 countries.

Navigating the paths to sustainable environments via energy security, renewable energy and economic complexity: Evidence from array of pollution metrics

Empirical narratives pertaining to the implications of energy security (ENS) on environmental quality (EQ), particularly in the context of Emerging Seven (E7) countries, are currently understudied. Likewise, the influence of renewable energy (RWN), economic complexity (ECI) and environmental control technology (EVT) on EQ is still unsettled. Thus, based on arrays of pollution metrics (ecological footprint (ECF), carbon emission damage (CO2D) and consumption-based carbon emissions (CCO2) and annual panel series spanning 1990–2018, this study provides fresh insights into the implications of the listed variables on EQs in E7 countries. Accordingly, the following empirical narratives were established: (i) The effects of the enlisted panel series on EQ are sensitive to the peculiarities of each pollution metric. (ii) Estimates of the pool mean group autoregressive distributed lag (PMG-ARDL) model and those of cross-sectional augmented autoregressive distributed lag (CS-ARDL) underscore the important roles of ENS and RWN on EQ, particularly on ECF; and ECI on CO2D. While EVT provides insignificant carbon emission reducing effects across all variants of EQ indicators, population and economic growth are all time-significant pollution enablers. (iii) The outcomes of the panel quantile regression demonstrate that ENS enhances EQ only at the 25th and 50th quantiles and accelerates pollution at the 75th and 95th quantiles. RWN enhances EQ across all quantiles while ECI deaccelerates ECF and CO2D and accelerates CCO2 across all quantiles. Furthermore, EVT accelerates ECF and CO2D while it deaccelerates CCO2 across all quantiles. Meanwhile, the unpleasant effects of growth and population are reemphasized. Policy strategies to ensure a sustainable environment in E7 have been highlighted.

Does green finance and energy policy paradox demonstrate green economic recovery: Role of social capital and public health.

Green economy development has become a mainstream value orientation in social and global economic development to protect and improve the ecological environment. Multiple stakeholders are needed to address complex issues, such as climate change and its impact on the ecological environment and public health. This study investigates the impact of energy policy and green finance on green economic recovery via the controlling role of social capital and public health. An entropy approach was used to measure the green economic index in addition to an econometric approximation for interpreting the longitudinal dataset for the scenarios for E7 countries between 2010 and 2020. The findings show that the development of green finance significantly improves green productivity. Higher levels of economic and social conditions, a lower level of public involvement in environmental protection, and a higher level of pollution amplify this positive effect. On the other hand, energy policy can enhance the impact of green finance development. The findings suggest that the empirical findings benefit green finance planning and energy policy.

Are the impacts of renewable energy use on load capacity factors homogeneous for developed and developing nations? Evidence from the G7 and E7 nations.

Both developed and underdeveloped economies worldwide are now more concerned than ever in respect of achieving environmental sustainability. Accordingly, the majority of the global economies have ratified several environment-related pacts to facilitate the tackling ofglobal environment-related problems. Although these problems are assumed to be addressed using diverse mechanisms, limiting the use of fossil fuels has often been recognized as the ultimate enabler of environmental sustainability. Against this backdrop, this study aims to assess the environmental impacts associated with higher renewable energy use, controlling for economic growth and population size, in the context of the G7 and E7 countries using data from 1997 to 2018. Moreover, instead of using the traditional environmental quality proxies, this study tries to proxy environmental degradation with the load capacity factor levels of the countries of concern. The long-run associations among the study's variables are confirmed by outcomes generated from the cointegration analysis. Besides, regression analysis highlighted that integrating renewable energy into the energy systems while withdrawing from the use of fossil fuels can help to improve environmental quality by increasing the load capacity factor levels. In contrast, economic growth and population size expansion are evidenced to impose environmental quality-dampening impacts by reducing the load capacity factor levels. However, the findings, in the majority of the cases, are seen to differ across the groups of the G7 and E7 countries, especially in terms of the variations in the magnitudes of marginal environmental effects over the short and long run. Lastly, the causality analysis confirms the directions of the causal relationships among the variables of concern. Based on these results, a couple of policy interventions are recommended for improving environmental quality in the G7 and E7 countries.

Sağlık Harcamalarının Medikal Ürün İhracatı Üzerindeki Etkisi: E7 Ülkeleri Örneği

It was aimed to analyze the impact of health expenditures on medical product exports in E7 countries (Turkey, China, India, Russia, Indonesia, Brazil and Mexico) in the developing countries group in the paper. In this context, it was first performed the MADF unit root test to test the stationarity of the series in the study covering the period 2000-2017. Then it was performed the Swamy S test to determine the homogeneity and heterogeneity of the series. Finally, it was applied the Dumitrescu-Hurlin Panel causality test to determine the causality relationship between the series. As a result of the findings, it was determined that the series were stationary and heterogeneous in the first difference and that there was a bidirectional causality relationship between the two variables. In other words, both health expenditures affected medical product exports and medical product exports affected health expenditures. In this perspective, when countries' health expenditures increase, medical product exports also increase, and when medical product exports increase, health expenditures also increase.

Do renewable energy consumption and green innovation help to curb CO2 emissions? Evidence from E7 countries.

Global climate change is profoundly affecting human survival and development and is a major challenge facing the international community today. Therefore, this study aims to examine the effect of renewable energy consumption and green innovation on CO2 emission reduction in E7 countries within the framework of macroeconomic indicators, and whether they can contribute to achieving carbon neutrality targets. To achieve the purpose of the study, firstly, the fully modified OLS, dynamic OLS, classical cointegration regression, Bayer–Hanck cointegration, and ARDL bounds test are employed in this study. The existence of a long-term cointegration or long-term linkage is confirmed by empirical evidence. Secondly, the empirical outcomes of FMOLS, DOLS, and CCR reveal that a 1% increase in renewable energy consumption and financial innovation reduces the CO2 emissions by 0.357% (0.301%), 0.428% (0.336%), and 0.348% (0.306%), while a 1% rise in economic growth and inflation raises the CO2 emissions by 0.881% (0.015%), 0.946% (0.043%), and 0.875 (0.022%), respectively. Similarly, the results of ARDL demonstrate that renewable energy consumption and financial innovation contribute to the improvement of environmental quality, while economic growth and inflation exacerbate the deterioration of environmental quality. However, green innovation has no apparent impact on environmental sustainability. Finally, in the short term, the paths of renewable energy consumption and economic growth on environmental sustainability under macroeconomic conditions are almost identical to those in the long term, while green innovation significantly improves the environmental quality of economic development in E7 countries. To sum up, to achieve sustainable economic and environmental development in the context of carbon neutrality, policy makers in developing countries should fully consider the role of renewable energy and green innovation, and actively strive to promote green and low-carbon energy development, to make new contributions to global environmental governance.

Green financing role on renewable energy dependence and energy transition in E7 economies

Green financing role on renewable energy dependence and energy transition in E7 economies

The Link between Economic Growth and Sustainable Energy in G7-Countries and E7-Countries: Evidence from a Dynamic Panel Threshold Model

The available literature on sustainable energy use and economic growth nexus yields conflicting conclusions, as the effect can be positive, negative, or insignificant. This research explores the causal link between sustainable energy use and economic growth in G7-countries (Japan, Canada, Germany, Italy, France, United Kingdom, and United States) and E7-countries (Russia, Brazil, Indonesia, China, Mexico, India, and Turkey) countries from 1990 to 2019. We discover that sustainable energy use and economic growth are proportional. Our results show that sustainable energy use positively affects economic growth if E7-countries exceed a specific threshold. It is detrimental to economic growth for the E7 countries' sustainable energy use to fall below a certain threshold. The use of sustainable energy has no significant impact on economic growth, although it does have a positive and noticeable impact in the G7 countries. In order for the countries of the G7 to see positive economic growth as a result of their investment in renewable energy, it is necessary for those nations to surpass a certain threshold in terms of their use of sustainable energy.

Achieving Carbon Neutrality Pledge through Clean Energy Transition: Linking the Role of Green Innovation and Environmental Policy in E7 Countries

Most countries, notably those that signed the Paris Climate Agreement, prioritize achieving the zero carbon or carbon neutrality aim. Unlike earlier studies, this one assesses the contribution of environmental policy, clean energy, green innovation, and renewable energy to the E7 economies’ achievement of carbon neutrality goals from 1990 to 2019. Findings emanating from the study show that the EKC hypothesis is valid in E7 countries. Implying that emissions in the E7 countries increased with the kick-off of development but declined later due to possible potent environmental regulatory policies put in place. Similarly, across all models, renewable energy (REN), green innovations (GINNO), environmental tax (ETAX), and technological innovations (TECH) were found to exert a negative and significant impact on carbon emissions in the E7 countries both in the short and long run. On the other hand, economic expansion (GDP) positively impacts environmental deterioration. Furthermore, the country-specific result shows that, on average, Brazil, India, China, Russia, Mexico, and Indonesia have significant environmental policies aiding carbon abatement. Except for Brazil, Mexico, and Indonesia, the income growth in the rest of the countries does not follow the EKC proposition. Furthermore, the causality result revealed a unidirectional causal relationship between GDP, REN, and GINNO to CO2 emission. No causality was found between ETAX with CO2, while a bi-directional causality exists between technology and CO2 emissions. Based on the finding, policymakers in the E7 countries should move away from fossil fuels because future electricity output will not be sufficient to reduce emissions considerably. Environmental regulations, encouraging technological innovation, adopting green and sustainable technology, and clean energy sources, among other things, demand radical and broad changes.

Does External Debts Affect Economic Growth: The Case of E7 Countries

Developing countries, which mostly face financing problems, often have to use external debt. On the one hand, external debt stands out as an important source of financing investments, but on the other hand, due to inefficient use or administrative failures, it may harm the macroeconomic indicators of countries, rather than benefit, with parameters such as exchange rate, bad governance and corruption. One of these macroeconomic indicators is undoubtedly economic growth. In this context, the effect of external debt on growth is discussed for the E7 countries in the 1992-2020 period. First of all, the relationship between external debt growth was examined using Westerlund cointegration analysis. According to, there is a long term co-integration relationship between foreign debt and economic growth in E7 countries. Common Correlated Effects Estimator (CCE) and Augmented Mean Group Estimator (AMG) models were used for the coefficient estimation. The findings obtained from both models indicate that external debt negatively affects growth.When the findings are analyzed by country, according to the AMG model, foreign aid affects growth negatively in China, India, Russia, Brazil and Mexico. According to the CCE model findings, foreign aid negatively affects growth in India, Brazil, Mexico and Indonesia. However, according to the findings of both models, the effect of foreign aid on growth in Turkey is statistically insignificant. Panel group analysis results support the debt overhang hypothesis for E7 countries

How do economic and financial factors influence green logistics? A comparative analysis of E7 and G7 nations.

Logistics is an important sector that supports every sector of the economy, and thus, the development of nations is impossible without efficient logistics. Alongside this, the logistics sector generates various kinds of emissions that degrade the quality of the environment. Developed countries are striving to introduce green logistics to avoid environmental damages caused by transportation. Also, developing countries will start focusing on developing green logistics sooner or later. Keeping this in view, a comparative panel study on the group of seven (G7) and Emerging Seven (E7) nations is conducted to study the impacts of various economic and financial variables on green logistics. The data from 1996 to 2018 is analyzed using some reliable methods that produce efficient and consistent results during heterogeneity and cross-sectional dependence. The findings disclosed that cointegration is present in E7 and G7 panels. For E7 countries, the results disclosed that research and development (R&D), FDI, portfolio investment, and trade openness reduce green logistics. However, in the G7, R&D, FDI, portfolio investment, and trade increase green logistics. The empirical analysis did not show any meaningful impact of financial development and economic growth on green logistics in both groups of nations. Lastly, based on the comparative analysis, various policies are suggested for E7 to catch up with the G7 regarding logistics development. Also, policies for G7 are suggested to boost green logistics.