Politická ekonomie - Forthcoming articles

The Impact of Climate Change, Human Development and Use Internet on Poverty: Evidence from Panel Quantile Regression

Halim Tatli

Politická ekonomie X:X | DOI: 10.18267/j.polek.1477  

This paper examines the effects of climate change, human development, the use internet, and income inequality on poverty using 50 countries selected from high-, middle, and low-income countries between 2004 and 2020. After applying the panel unit root tests, the parameters are estimated using the quantile regression method. The results revealed that climate change has a statistically significant and positive effect on poverty in selected 50 countries. Also, the impact of the human development index and internet use are significant and negative. Findings revealed that income inequality has a positive effect on poverty. The one-way and two models, along...

Harmonizing Laws and Politics: Combating Environmental Pollution for Sustainable Development

Weiping Han, Romanus Osabohien, Armand Fréjuis Akpa, Alhassan Abdul-Wakeel Karakara, Mamdouh Abdulaziz Saleh Al-Faryan

Politická ekonomie X:X | DOI: 10.18267/j.polek.1478  

This study explores the interplay among political factors, environmental pollution, and sustainable development in sub-Saharan Africa (SSA). Drawing on an evaluation of the literature and empirical data, the study highlights the effect of political instability, corruption, and weak governance on environmental degradation and sustainable development. The study applied the Pooled Ordinary Least Squares, the fixed effects and to account for possible problems of endogeneity, the Generalised Method of Moments (GMM) was utilized. The result show that environmental pollution worsens sustainable development, while political factors improve sustainable development....

How Do Green Technologies, Green Energy Consumption and Digitalisation Influence Environmental Sustainability in E7 Economies? A Quantile-Based Analysis

Victoria Olushola Olanrewaju, Dervis Kirikkaleli

Politická ekonomie X:X | DOI: 10.18267/j.polek.1480  

Governments worldwide are grappling with the challenges of climate change. Following COP28 - the Dubai consensus - it has become even clearer that achieving CO₂ emissions reduction targets is crucial to prevent the global temperature from rising above 1.5°C. In this context, our study assesses these ambitious climate goals through the lens of green energy and technology adoption within the E7 nations. Using quantile regression and panel ordinary least squares (POLS) techniques on data spanning from 1991 to 2021, we provide insights into the vital role of digitalization and energy choices in reducing CO₂ emissions and advancing...

The Importance of Social Government Expenditures for Income Inequality in EU Countries

Karina Zhemelko, Nikola Šubová

Politická ekonomie X:X | DOI: 10.18267/j.polek.1481  

The issue of growing income inequality has become a central focus in global economic policy debates. This paper examines the impact of social government spending on income inequality in the 27 Member States of the European Union between 2010 and 2020, utilizing regression analysis of panel data. The findings indicate that the level of social government spending reflects the varying fiscal policies on social protection across EU countries, with the largest share allocated to old age expenditure. However, the analysis reveals that old age government expenditure does not have a statistically significant impact on income inequality. In contrast, increased...

Effects of Green Quality of Energy Mix and Financial Development on Load Capacity Factor in China: A Novel Rolling Window Kernel-Based Regularized Least Square Approach

Tomiwa Sunday Adebayo, Oktay Özkan, Babatunde Sunday Eweade

Politická ekonomie X:X | DOI: 10.18267/j.polek.1483  

Amidst ongoing global worries over climate change and its ecological ramifications amidst rapid economic growth, the United Nations has set forth a comprehensive agenda known as the Sustainable Development Goals (SDGs), aiming to achieve them by 2030. These goals are tailored to foster sustainable socio-economic progress while enhancing the global environment’s quality. Therefore, this study explores the connections between load capacity factor, green quality of energy mix, financial development, economic growth, and natural resources in alignment with SDGs 7, 11, 13, and 12, focusing on China from 1981 to 2021. The study introduced the rolling...

Regional Disparities in Drivers and Peaking Pathways of CO₂ Emissions: Insights from Scenario Planning

Yang Yu, Yaping Gong, DooHwan Won, Atif Jahanger

Politická ekonomie X:X | DOI: 10.18267/j.polek.1484  

Faced with domestic and international responsibilities, China urgently needs to coordinate various regions to achieve carbon peak in an orderly manner. As core regions driving economic expansion and primary hubs of energy consumption, the Beijing–Tianjin–Hebei (BTH) and the Yangtze River Delta (YRD) regions are substantial contributors to carbon emissions in China. To address regional disparities in carbon emission management, this study estimates CO₂ emissions from 1990 to 2021, employing the STIRPAT model to analyze influencing factors. The findings reveal that the key factor affecting CO₂ emissions in both regions is population....

Democracies Prioritize Sustainability as Energy Use Declines

Aribah Aslam, Ghulam Ghouse, Ishaq Bhatti

Politická ekonomie X:X | DOI: 10.18267/j.polek.1489  

We develop a theoretical framework to characterize the relationship between democracy and energy use on a global scale. We utilize generalized method of Moments (GMM) model to control endogeneity on balanced, global panel dataset encompassing 61 countries across six geographic regions. Contradictory to conventional understanding that democracies may have positive association with energy use, our findings reveal that democracy has a significant negative association with energy use. We put here that democracies prioritize Sustainability as energy use declines, globally. These novel results are justified because often democracies can foster a culture...

Towards External Debt Reduction through Inflation Targeting: An Empirical Evaluation of Middle-Income Countries

Abdelhamid Moustabchir, Hicham El Ouazzani, Hicham Ouakil, Augustin Foster Chabossou

Politická ekonomie X:X  

This study analyzes the impact of inflation targeting on the external debt of middle-income countries using the propensity score matching method (PSM). The results indicate that the adoption of inflation targeting is associated with a notable decrease in external debt, with an average reduction estimated at approximately 15.16 percentage points. This reduction reflects the enhanced credibility of monetary policy, which lowers the risk of default on public debt. These findings suggest that inflation targeting can be a useful tool for managing external debt and alleviating pressures on public finances, but its effectiveness depends on its integration...

Impact of Circular Economy on Waste Elimination Within the Framework of Sustainable Supply Chain

Maryam Khokhar, Yongrui Duan, Munaza Bibi, Anshuman Sharma, Fahad Alam

Politická ekonomie X:X | DOI: 10.18267/j.polek.1491  

In a system of production and consumption sustainable supply chain management plays a crucial role in overseeing and curbing excessive waste. This research introduces two interconnected supply chain dedicated to waste elimination within the production and consumption processes. The study integrates the tenets of the circular economy (CE) explicitly emphasizing the 3R concepts, which are Reduce, Restore, and Recycle. Within this framework, the initial product in the primary chain follows degradation and transforms raw material for the production system of the secondary chain (secondary production facilities). While transporting used products to recycling...

Cultural Patterns and the Structure of Tax Revenue and Public Expenditures: An International Perspective

Magda Wiśniewska-Kuźma

Politická ekonomie X:X | DOI: 10.18267/j.polek.1493  

The purpose of this article was to identify the relationship between cultural patterns and the level and structure of tax revenues and public expenditures. The study was conducted in two stages. In the first stage, the cultural pattern was identified based on Hofstede’s classification using Ward’s clustering method on a sample of 29 EU and EFTA countries. This resulted in the formation of five groups of countries sharing similar levels of Hofstede’s cultural dimensions. These groups were then compared using variables describing the level and structure of tax revenues and public expenditures. The results confirmed that groups formed...

Efficiency of Public Spending in Achieving Indicators of Human Security Dimensions: A Comparative Study Using Data Envelopment Analysis

Mohammed Benlebbad, Radja Bouzidi, Mustapha Mostefaoui

Politická ekonomie X:X | DOI: 10.18267/j.polek.1494  

The current global landscape is experiencing numerous geopolitical shifts and security threats that directly impact human security and economic stability. This research originates from this observation and aims to explore: The interconnectedness between development and individual security, the significance of public spending and its role in strengthening human security dimensions and the efficiency of public spending in improving human security indicators. The study utilizes data envelopment analysis (DEA) to measure spending efficiency in 44 countries regarding human security indicators. The analysis, assuming variable returns to scale, reveals that...

Financial Development in Uncertain Economies: A Pathway to Sustainability

Xin Ling, Muhammad Atif Khan, Hammad Qadeer

Politická ekonomie X:X | DOI: 10.18267/j.polek.1495  

This study is the first to explore the effect of Economic Policy Uncertainty (EPU) on multidimensional financial development. Using data from 22 countries over 20 years (2002-2021) and employing fixed effects regression and two-step dynamic system GMM estimators, the results reveal a significant negative impact of EPU on financial development. This adverse effect spans both key dimensions: financial institutions and financial markets development. The analysis further highlights how EPU hampers key dimensions of financial institutions and markets' performance - depth, access, and efficiency. Importantly, the study highlights the positive moderating...

The Future of the Digital Economy: How Research and Development Can Address the Digital Divide Amid Resource Constraints

Tomiwa Sunday Adebayo

Politická ekonomie X:X | DOI: 10.18267/j.polek.1496  

The digital economy is unquestionably a globally recognized priority among nations, yet comprehensive scholarly discussions on the specific determinants driving its growth remain relatively limited. To fill this gap, this study pioneers an investigation into how research and development, natural resources, and economic policy uncertainty influence the digital economy in the United States, using data from 1996Q1 to 2020Q4. Given the nonlinear and non-normal distribution of the data, the study employed a series of quantile-based approaches, particularly the wavelet quantile-on-quantile regression (WQQR). The results from the WQQR reveal that research...

Examining the Impact of Board Gender Diversity on Firm Value: Insights from the Pre-COVID-19 Era

Bernard Mnzava

Politická ekonomie X:X | DOI: 10.18267/j.polek.1497  

This study explores the impact of board female representation on firm value prior to the COVID-19 pandemic using a sample of Sub-Saharan Africa quoted companies. Utilizing a robust dataset derived from annual reports of non-financial firms spanning 11 years, the study employs both Pooled Ordinary Least Squares (OLS) regression and System Generalized Method of Moments (GMM) to assess this relationship. In addition, the research conducts supplementary regression analyses with different measures of board gender diversity to validate its findings. The findings reveal a positive and statistically significant correlation between the presence of board female...

Investigating the Impact of Oil Rents, Foreign Direct Investment, and Exports on Productive Capacity: Concentrating on Spatial Analysis for the Gulf Cooperation Council Countries

Orhan Cengiz, Fatma İdil Baktemur

Politická ekonomie X:X | DOI: 10.18267/j.polek.1498  

Oil rents (OR) have a significant role for oil-abundant countries; therefore, most oil-abundant countries depend on oil sectors. However, if gains from OR are not invested in the productive sectors, it may adversely affect long-term sustainable growth. As discussed in the relevant literature in the scope of the resource curse hypothesis (RCH) or Dutch disease, depending on natural resources (NR) may crowd out productive investment, resulting in decelerating economic growth (EG). However, crucial policies emerge that suggest that OR contributes to or dampens productivity in oil-rich countries. As it is observed that not many studies consider the role...

Institutional Determinants of Regional Poverty in Turkey: Evidence from Advanced Causality Analysis

Yildirim Beyazit Çiçen

Politická ekonomie X:X | DOI: 10.18267/j.polek.1499  

Poverty continues to be one of the major issues in Turkey, as in many other countries, with a large portion of the population – especially in rural areas – living below the poverty line. Those living in poverty have limited access to key public services such as education, healthcare, and housing, which consequently exacerbates social and economic inequalities within society. The gap between wealthy and impoverished groups within society is continually expanding, primarily due to institutional factors that perpetuate this inequality. Drawing on data from 2009 to 2019, this study offers an empirical analysis of the role institutions play...

Towards economic growth and a sustainable future: Insights beyond the Environmental Kuznets Curve

Inzamam Ul Haq, Chunhui Huo, Paulo Ferreira

Politická ekonomie X:X | DOI: 10.18267/j.polek.1501  

This study explores the dynamic nexus between economic growth and sustainable development for 92 countries across high-, upper-middle-, lower-middle- and low-income groups. We validate the Environmental Kuznets Curve (EKC) hypothesis from a novel perspective. We employed a novel technique of Narayan et al. (Economic Modelling, 2016, 53, 388-397) through simple cross-correlation estimates and a panel causality technique. The analysis covers data from 1990 to 2022 using annual data. Our findings show that the EKC hypothesis is supported for five out of 92 (5%) countries and that income growth will increase sustainable development for 50 (54%)...

Military Expenditures and Economic Growth: Evidence from Turkey

Ahmet Kadiroğlu

Politická ekonomie X:X | DOI: 10.18267/j.polek.1502  

A recent focus on the socioeconomic impacts of military expenditures has led to a resurgence of interest in research and development activities in this domain. A comprehensive review of extant academic studies reveals a conspicuous absence of research examining the augmented Solow growth model, encompassing capital formation, labor force, military expenditures, and economic growth for Turkey. Consequently, this study aims to investigate the impact of capital formation, labor force, and military expenditures on economic growth in Turkey from 1991 to 2022. To this end, the study employs the residual augmented least square (RALS) approach. The coefficients...

Exploring the Impact of Democratic Consolidation and Women's Political Participation in Alleviating Energy Poverty

Emmanuel Oluwatosin Adewusi, Babatunde Olamide Oladosu, Tunde Sodiq Taiwo, Steve Udoka Okwechime

Politická ekonomie X:X | DOI: 10.18267/j.polek.1504  

Tackling energy poverty contributes to attaining Sustainable Development Goal 7, which seeks to provide universal access to cheap, dependable, eco-friendly energy by 2030. This current investigation examined drivers of energy poverty in South Africa using data from Q1 1997 to Q4 2021 to explore the association. The study employed nonlinear ARDL (NARDL), revealing that democracy and financial development exhibit significant long-run positive effects on energy poverty, while the short-run impacts demonstrate mixed asymmetries, with democracy showing a weaker negative effect. Economic growth and women’s political representation reduce energy poverty...

Impact of geopolitical risk and economic globalization on Turkey's environmental sustainability using the novel quantile-on-quantile KRLS method

Ashar Awan, Atif Jahanger, Mohammad Emran Hossain, Muhammad Saeed Meo, Nora Yusma bte Mohamed Yusoff

Politická ekonomie X:X | DOI: 10.18267/j.polek.1505  

This study investigates the impact of economic globalization, geopolitical risk, and natural resources on carbon emissions (CO₂) in Turkey, while controlling for economic development and renewable energy. The study used annual data from 1970 to 2019 using a quantile-on-quantile-based regularized least squares (QQKRLS) approach. The findings of the study confirm a weak positive association between economic globalization and CO₂ emissions at low and high quantiles, while this association becomes strong at 0.40 to 0.65 quantiles of both variables. The study also confirms an overall positive association between geopolitical risk and...

Fintech Borrowing and Business Changes During the Pandemic

Kunhyui Kim, Peter J. Morgan, Martina Marsili

Politická ekonomie X:X | DOI: 10.18267/j.polek.1506  

Micro, small and medium-sized enterprises in ASEAN play a significant role in ASEAN GDP, but their access to financial services or Fintech has been relatively low. In this context, the emergence of companies offering Fintech services, or technology-enabled financial services, has been welcomed to access financial services that would otherwise be difficult to obtain from formal financial institutions during the pandemic. Our research focusses on five Association of Southeast Asian Nations countries, particularly Indonesia, Malaysia, the Philippines, Singapore, and Thailand, to answer the following questions. First, what is the impact of the usage of...

Environmental Regulations and Sustainable Development: The Role of Fiscal Decentralization and Clean Energy

Rong Wang, Xiaohan Gu, Yunqiu Zhan, Xiao Gu

Politická ekonomie X:X | DOI: 10.18267/j.polek.1508  

There is a growing recognition of the importance of sustainable development. Political economy factors and natural resources are considered important sources of economic prosperity. These are the fundamental primary resources utilized in the production process, which subsequently drives economic activities and results in sustained growth. Nevertheless, resource-rich countries often experience sustainability challenges. This study examines the impact of mineral resource rents on sustainable development in selected developed countries from a political economy perspective. Moreover, we include renewable energy deployment and fiscal decentralization as...

Environmental Sustainability in Southeast Asia: Evidence from Linear and Nonlinear Unit Root Tests and Policy Implications

Sefa Özbek, Bahar Özbek

Politická ekonomie X:X | DOI: 10.18267/j.polek.1510  

This study focuses on Southeast Asian countries that have attracted attention with their recent   economic growth performance. The validity of environmental sustainability is investigated through data for the period 1973–2022. For this purpose, ecological footprint data from Indonesia, the Philippines, Cambodia, Malaysia, Singapore, Thailand and Vietnam are used. Unit root tests with various power properties are used in the study. Firstly, ADF and PP unit root tests based on the Dickey–Fuller unit root test procedure are used in the study. In addition, among the non-linear unit root tests, Leybourne et al. (1998) and Harvey and Mills (2002)...

Natural Resource Dependency, Political Stability, and Environmental Sustainability in the G7: Role of Operational Behaviors of Multinational Firms Using Quantile Regression

Mohammad Ridwan, Anowar Hossain, Tasfia Mahjabin, Md. Emran Hossain, Afsana Akther, Mohd Ziaur Rehman, Md. Eleais

Politická ekonomie X:X | DOI: 10.18267/j.polek.1511  

This study examines the impact of natural resource dependence, political stability, and the operational behaviors of multinational corporations (MNCs) on CO₂ emissions in the G7 region from 1996 to 2021. Due to the non-normal distribution of the data, a quantile regression approach is employed to assess how these factors influence CO₂ emissions across different emission levels. The results indicate that economic growth, natural resource reliance, and political stability contribute to higher CO₂ emissions, whereas MNCs' operation al behaviors and renewable energy use significantly reduce emissions. Robustness checks...

How Does Energy Insecurity Hurt Green Growth? The Role of Financial Stability

Shi Yong Zheng, Jiaying Li, Wen Lu, Muhammad Hafeez, Razaz Waheeb Attar

Politická ekonomie X:X | DOI: 10.18267/j.polek.1512  

Climate change is one of the most disturbing issues for people all around the globe. Green growth has become the most viable solution for achieving economic goals without damaging environmental quality. Consequently, our main interest in this analysis is to examine how energy security risk and financial stability affect green growth in top carbon emitter economies. The CS-ARDL model is our selected estimation technique for examining the relationship between energy security risk, financial stability, and green growth. The long-run estimates reveal that higher energy security risk lowers green growth. In contrast, financial stability, technology, and...

Energy Poverty and Women in Turkey: Household-Level Insights and Policy Implications

Eyup Emre Ulug, Emrah Kocak, Burcu Oralhan, Fatma Unlu

Politická ekonomie X:X | DOI: 10.18267/j.polek.1515  

This study examines the impact of womens income, employment, education, health, and household characteristics on energy poverty in Turkey. The research utilizes logit and probit regression methods to analyze household data comprehensively, providing a detailed understanding of the factors influencing energy poverty. According to the results, women with any income - particularly those with above-average income - significantly reduce household energy poverty. While the impact of womens employment type on energy poverty is mixed, paid employment strongly reduces it. Higher levels of womens education decrease the likelihood of energy poverty. Womens health...

Do Climate Risks Affect Stock Markets? Quantile Connectedness Analysis for Major European Economics

Deniz Sevinç, Veysel Karagöl

Politická ekonomie X:X | DOI: 10.18267/j.polek.1516  

This study examines the interconnectedness between climate-related risks and Europes five major stock markets, which aims to become the first continent with a net-zero emissions balance with daily data from April 16, 2013, to December 29, 2023. We employ two methodologies: Quantile Connectedness to investigate the impact of climate risks on stock market volatility in different market circumstances and Quantile Time-Frequency Connectedness to examine the short- and long-term spillover effects. Our results indicate that transition and physical risks have asymmetric effects on market indices, which are particularly pronounced during crisis periods. The...

How do digital government and digital finance promote green investment?

Ilhan Ozturk, Sana Ullah

Politická ekonomie X:X | DOI: 10.18267/j.polek.1518  

In order to tackle climate change and global warming, policymakers all around the globe have stressed fostering investment in green initiatives and projects. Particularly in top polluted economies, the importance of green investment has recently increased manifold. Thus, researchers have focused on finding the determinants of green investment. This analysis aims to scrutinize the link between digital government, digital financial inclusion, and green investment nexus in top polluted economies by employing two-stage least squares (2SLS), generalized method of moments (GMM), and smoothed instrumental quantile regression (SIVQR) methods. In addition to...

Labor in the Age of AI: Productivity Trends Across the EU

Jordan Kjosevski, Mihail Petkovski, Aleksandar Stojkov

Politická ekonomie X:X | DOI: 10.18267/j.polek.1531  

This study investigates the impact of Artificial Intelligence (AI) readiness on labour productivity across 27 European Union (EU) countries between 2019 and 2024. Using a dynamic panel approach, we apply Pooled OLS, Fixed Effects, Difference GMM, and System GMM estimators to account for endogeneity and persistence in productivity. The System GMM model is preferred for its robustness and reliability. Results show that AI readiness positively influences labour productivity, though the effect remains modest, reflecting disparities in adoption across regions. Other significant drivers include foreign direct investment and R&D expenditure, while government...