Farhad Taghizadeh-Hesary

Tokai University · School of Global Studies

This study examines the linkages between energy price and food prices over the period 2000-2016 by using a Panel-VAR model in the case of eight Asian economies. Our results confirm that energy price (oil price) has a significant impact on food prices. According to the results of impulse response functions, agricultural food prices respond positivel...

This handbook deals with various financial instruments, policies, and strategies in a policy-oriented approach for financing green energy projects. Recently, global investment in renewables and energy efficiency has declined, and there is a risk that it will slow further, Clearly, fossil fuels still dominate energy investments. This trend could thr...

This study is an attempt to ascertain how oil price shock can affect a trade-linked system via monetary variables. To this end, a simultaneous equation model (SEM) was applied through a Weighted Two Stage Least Squares (W2SLS) estimation method to different countries (21 cases) with business relations over the period from Q1 2000 to Q4 2015. In the...

The Covid-19 pandemic and global economic recession has shrunk global energy demand and collapsed fossil fuel prices. Therefore, renewable energy projects are losing their competitiveness. This endangers the achievement of several Sustainable Development Goals (SDGs) and the Paris Agreement on Climate Change. Various consulting companies define the...

Establishment of green credit guarantee schemes (GCGSs)and returning a portion of the tax revenue originally generated from spillover effect of green energy supply to investors. It can reduce the risk of green finance and increase the rate of return of green energy projects, respectively. In addition, technical developments in the sphere of distrib...

Purpose – This paper aims to analyze the dynamic linkages of the energy market with the forex market. The energy market is measured by crude oil WTI, while the forex market is proxied by Brazilian real (RBRL),Mexican peso (RMXN), SouthAfrican rand (RZAR), Turkish lira (RTRY) and British pound sterling (RGBP) exchange rate. Design/methodology/appro...

This research employs a fixed effect model to empirically estimate panel data from 37 OECD countries spanning 2000 to 2021, revisiting the influence of government R&D expenditure on innovation within the theory of marginal diminishing effect. Results reveal a significant positive effect of government R&D expenditure on national innovation capacity,...

The dynamics of housing prices can play a pivotal role in shaping household behavior. Motivated by the limited research on the impact of housing prices on consumption structure upgrading in China, this paper presents a series of analyses that deploy panel data from 276 Chinese cities between 2005 and 2019 to scrutinize this impact. Firstly, fixed e...

There is international consensus on leveraging green finance in renewable energy deployment because both are viewed as crucial for achieving carbon neutrality. We employ a spatial econometric approach to examine whether green finance can stimulate renewable energy uptake using energy data from 30 provinces in China for the period 2006–2020. We also...

The inclusive development index provides a comprehensive assessment of a country’s wealth and wellbeing, and recognizes that economic development should not come at the expense of depleting natural resources or neglecting human welfare. Although inclusive development assessment in China has advanced significantly at the national level, there is a n...

With the increasing resource and environmental constraints and pollution, China urgently needs to improve the condition of resource utilization. Digital technology innovation is a powerful tool for resource optimization. Therefore, this paper explores the impact of digital technology innovation on natural resource utilization efficiency (NRUE) in C...

Purpose-This study aims to investigate the relationship between corporate environmental responsibility (CER) and risk-taking in Chinese A-share listed companies from 2011 to 2020. It seeks to understand the influence of CER on risk-taking behavior and explore potential moderating factors. Design/methodology/approach-A quantitative approach is used,...

This study examines the factors influencing daily electricity use in UK homes during the electricity market crisis. Using data from smart meters and socio-technical sources, the research identifies key drivers of electricity consumption, such as household size, weather conditions, and appliance use. Results from a sample of British homes, analyzed...

Low-carbon energy technology (LCET) holds the key to unlocking a harmonious coordination between energy consumption and environmental preservation, paving the way for a resilient and sustainable future. We consider the role of information and communication technology (ICT) efficiency and environmental regulation (ER) in promoting LCET based on the...

Purpose The purpose of this study is to examine the impact of green bonds on common prosperity in China. Green bonds have gained significant attention as a means to address financial challenges and promote environmental protection. This research aims to investigate the influence of green bonds on common prosperity by utilizing the system-generalize...

Carbon dioxide (CO2) emissions, the primary greenhouse effect catalyst, command global attention due to associated environmental challenges. Urgent carbon reduction is imperative, especially with scholarly discourse on peak emissions and carbon neutrality underscoring their criticality. Accurate CO2 emission prediction holds immense importance for...

Energy efficiency is crucial for achieving a balance between economic growth and sustainable development. As carbon-neutral targets continue to gain momentum, green investments are becoming increasingly important. Therefore, it is critical to investigate the relationship between green investment and energy efficiency. This paper aims to fill a gap...

This study investigates the asymmetric impact of oil price shocks on green investment by using a Nonlinear Autoregressive Distributed Lag (NARDL) framework. Oil price shocks are decomposed from perspectives of supply, demand, and risk of the oil market, and the green investment is proxied by the Dow Jones Sustainability World Index. The asymmetry o...

As an intensive mode of urbanization, a smart city may be conducive to achieving a win–win situation of regulating the urban economy and the environment. Based on a quasi-natural experiment in three batches of smart pilot cities, we use the difference-in-differences (DID) method to examine the impact of the smart city policy on CO 2 emissions by ad...

Mineral resources play a crucial role in the development of renewable energy sources, yet they also bring about environmental burdens such as pollution, carbon emissions, and resource depletion. Considering this dual impact, it is imperative to further elucidate the influence of mineral consumption (including both metallic and non-metallic minerals...

Using a panel data set from 2007 to 2019, we empirically evaluate the impact of carbon capture, utilization, and storage (CCUS) technology innovation on green total factor productivity (GTFP). The findings show that (1) CCUS technology innovation significantly improves GTFP. (2) CCUS technology innovation significantly contributes to GTFP by promot...

The swift development of digital technology in China, coupled with the escalating significance of coal resource utilization in the industrial sector, necessitates an investigation into the role of digital transformation in fostering the sustainable development of coal resources. We utilize the Spatial Dubin Model (SDM) to analyze data from 30 Chine...

In pursuit of actively advancing energy transformation, ensuring the attainment of carbon peak and carbon neutrality objectives, and fostering sustainable development, China has dedicated substantial efforts. This article treats the Green Finance Reform and Innovation Pilot Zones (GFPZ) as a quasi-natural experiment, thereby constructing an analyti...

Excessive exploitation of non-renewable resources contributes significantly to carbon emissions. To address the challenges of carbon emissions and resource sustainability, this study employs a panel dataset on 101 countries spanning the years 2012–2019 to investigate the role of climate vulnerability playing in global carbon emissions. We find that...

Based on the SBM-DEA method, this study calculated the energy efficiency of county areas in China and examined the regional differences and dynamic distribution evolution. The research found that the energy efficiency of Chinese counties shows an overall increasing trend and maintains a relatively stable spatial pattern. Both the overall difference...

The authors have employed several techniques to account for model uncertainty in the inequality-growth model. However, the BMA technique is the most prominent approach that solves model uncertainty in the inequality-growth literature. This study applied a recent BMA analysis using panel data to examine the role of fiscal policy on income inequality...

In this study, we assess the sustainability of the electricity sector and explore the correlation between government environmental policies and the sector's sustainability. We find that at the national level, the sustainability of the electricity sector has exhibited a notable upward trend in recent years. However, this trend has not been evenly di...

Carbon capture, utilisation, and storage (CCUS) technologies have the potential to play a crucial role in mitigating climate change by capturing CO 2 emissions from industrial processes and power generation. This study aims to explore the economic feasibility of CCUS and provide practical policy recommendations for making CCUS technologies economic...

Metallic mineral mining plays a pivotal role in the economic development of countries located in the Global South, necessitating a comprehensive assessment of its compatibility with environmentally sustainable progress. This study is grounded in an extensive analysis of panel datasets encompassing 134 nations in the Global South, spanning the years...

As a crucial aspect of industrial development, the influence of industrial convergence on the environment cannot be ignored. This paper uses the “Triple Play” Reform (TPR) policy as a representative case of industrial convergence for constructing a quasi-natural experimental analysis framework. Using panel data from 285 Chinese cities spanning the...

Ensuring energy justice is crucial for achieving social stability and realizing low-carbon development. Accordingly, we estimate the effect of green finance (GF) on energy justice in China and further explore its influencing mechanisms using the system-generalized method of moments (SYS-GMM). For this purpose, we first assess the levels of energy j...

Purpose China is a significant energy consumer with increasingly severe resource constraints and environmental problems, requiring low-carbon energy transformation and encouraging high-quality energy development (HED). Green finance significantly affects the effect on HED as a cutting-edge financial strategy to support environmental improvement and...

Purpose This paper aims to explore the quantile-specific short- and long-term effects of economic policy uncertainty (EPU) on the efficiency of the green bond market. Design/methodology/approach This study examines the long-term cointegration relationship and the short-term fluctuation relationship of EPU, WTI crude oil price (WTI) and European Un...

This study utilized panel data from 132 countries spanning from 1996 to 2019 to examine the effect of government efficiency on carbon emission intensity. Using a fixed effect model, the study found that stronger government efficiency is associated with a significant decrease in carbon emission intensity. Robustness tests were performed, the results...

Under the fiscal decentralization of government environmental management, this paper investigates the relationship between local environmental protection expenditure (LEPE) and CO2 ecological footprint (CEF). Unlike conventional emissions-based greenhouse gas metrics, this research calculates per capita CEF for 253 Chinese cities, considering both...

Environmental, Society, and Governance (ESG) investments have become increasingly popular in recent years, and, at the same time, many rating agencies provide ESG scores for each company. This means that the ESG investment model may have moved from the traditional two-factor model of risk-return to a three-factor model adding an ESG component to it...

Purpose This paper aims to examine the comovement among green bonds, energy commodities and stock market to determine the advantages of adding green bonds to a diversified portfolio. Design/methodology/approach Generic 1 Natural Gas and Energy Select SPDR Fund are used as proxies to measure energy commodities, bonds index of S&P Dow Jones and Bloo...

The phenomenon of carbon inequality may endanger equal and sustainable social development, which deserves our full attention. This study empirically investigates whether and how smart transportation affect carbon inequality based on a balanced penal dataset of China's 30 provinces from 2002 to 2017. We first examine the impact of smart transportati...

In the light of China’s synergistic need to achieve Sustainable Development Goals (SDG) 10 and 13, it is necessary to consider the potential nexus between common prosperity and carbon reduction. Therefore, this work proposes a new comprehensive measure to assess the degree of common prosperity in 30 Chinese provinces from 2006 to 2019. Furthermore,...

In this study, we critically analyze the effect of low-carbon city policy on carbon lock-in for Chinese cities, based on a balanced panel dataset of 283 Chinese prefectural cities between 2003 and 2017, as well as the difference-indifferences method. Several key findings are highlighted: (1) Low-carbon city policy exerts negative impact on carbon l...

Sustainable development is currently one of the most significant goals of humankind. Sustainable growth requires reducing carbon emissions and maintaining a rise in global temperatures within acceptable limits. Renewable energy sources, such as wind, solar, water, biomass, wave energy, and green investments, are substitutes for fossil fuels that si...

From a market efficiency perspective, this study investigates the performance of sustainable markets under oil price shocks, including green bonds, clean energy, and carbon futures markets. This study assesses the one-way Granger causal impact caused by oil price shocks on the efficiency of sustainable markets, revealing that sustainable markets ar...

In this study, we explore the critical demand drivers of electricity consumption in Thailand based on monthly data from 2002 to 2020. Using Autoregressive Distributed Lag (ARDL), cross-quantile correlation (CQC), Generalised Method of Moments (GMM), and Granger-causality-in-quantile approaches, we find that industrial production and oil production...

To test the dynamical linkage between inequality and green growth in China, the green growth index is gauged and the inequality–green growth nexus is detected by employing panel data from 2004 to 2017. The concrete impact channel of urbanisation is further tested in the inequality–growth nexus. The primary findings are presented as follows: (i) Chi...

Population aging is expected to challenge many developed and emerging countries in the coming years. Occupational accidents (OA) and their relationship with population aging have become issues of interest in these countries. This study proposes a theoretical macroeconomic model to investigate the impact of factors influencing OA based on a labor su...

The primary purpose of this study is to quantitatively evaluate whether low-carbon energy transition has achieved preliminary progress in facilitating China's green evolution of economy following the provincial dataset. Besides, how improved energy efficiency moderates the influence of energy transition on green growth and the mediation effects are...

Developing ecotourism services is a suitable solution to help developing countries improve the status of sustainable development indicators and protect their environment. The primary purpose of this paper is to find out the effects of green governance variables and carbon dioxide emissions on ecotourism for 40 developing economies from 2010 to 2021...

Carbon pricing is expected to meet COP26 targets and carbon neutrality goals by promoting energy transition. However, the role of carbon pricing in energy transition has been challenged largely because of limited empirical evidence. Most empirical studies draw on samples with low-to-moderate carbon prices, which might underestimate the potential im...