Muhammad Shahbaz

Beijing Institute of Technology | BIT · Department of Management Science and Engineering

Given the alarming rate of climate change and environmental degradation, major countries are seeking ways to curtail environmental damage and attain sustainability in the future. In the quest for a green economy, countries are motivated to adopt renewable energy that can assist in resource conservation and efficiency. Accordingly, this study examin...

Renewable energy transition inevitably requires the consumption of metallic minerals, which not only increases the development of renewable energy but also causes potential environmental issues. Based on this hypothesis, applying a panel dataset of 71 economies from 2003 to 2019, this study constructs an econometric model of the influence of renewa...

The economic growth of the nations is highly dependent on the hydrocarbon fuel, despite limited supplies, demand has been continually increasing, which makes it critical to manage energy resources. It is therefore important to evaluate the current scholarship in the domain of sustainable energy technologies, which are reducing the dependency on car...

Abstract: In spite of the constraint for better environmental defense and the realization of the Sustainable Development Goals (SDGs), natural gas, coal, and oil consumption holds to dictate Japan’s power mix. Considering this concern, this study scrutinizes the impact of globalization, economic complexity, and renewable and fossil fuel energy cons...

This paper investigates the heterogeneous dependence between global crude oil futures and China’s biofuel feedstock commodities under different market conditions. Quantile-on-quantile regression and the causality-in-quantiles test are employed to capture comprehensive and informative relationships. The empirical results are as follows: First, there...

The analysis of historical price data for patterns and using such patterns for predictions and policy recommendations has become ubiquitous in the existing economics literature. These predictions and recommendations are premised on the stability of the statistical properties and inter-variable dynamics for which a single regime or few number of reg...

This book takes a diverse perspective on the blockchain-driven supply chain and attempts to delineate its various facets. The book primarily focuses on 12 significant aspects of blockchain-driven supply chain. Chapter 1 of the book focuses on explaining as to what is the architecture of the blockchain and blockchain-driven supply chain. The chapter...

This book looks at how digital economy can help energy businesses to meet their sustainability goals. It will further generates a new debate among policymakers about encouraging green technologies to reduce global carbon emissions. Our modern society requires a long-term, sustainable, and secure energy supply that not only generates and preserves...

In the conditions of the modern market economy, in which globalization and competition is rife, quality is of great importance for determining a company's position on the market. The changing and complex economic reality is shaping new market patterns whilst modern technologies influence purchasing decisions. This book presents an effective and nov...

This study is to examine the relationship between information and communication technology (ICT) and financial development in the Turkish economy during the period of 1986–2018. By empirical literature, economic growth, technological innovation, and financial globalization are added to the financial development model as explanatory variables. The a...

Through the United Nations Climate Change Conferences, industrial economies have been urged to formulate stringent environmental regulations. This study adds to the current deliberations by exploring the role of energy transition and environmental innovation on ecological footprint for the top ten manufacturing countries. The time period of analysi...

Energy efficiency gains are advocated to be a plausible strategy to mitigate rising carbon emissions in the Indian transportation sector. This study, thus, estimates the energy efficiency across transportation modes in India for 2000–2014, employing the panel stochastic frontier approach. Further, the long-run effect of energy efficiency gains on c...

Promoting the development of renewable energy sources is crucial for sustainability. This paper explores the impact of energy security risks and economic complexity on expanding renewable energy sources, accounting for trade openness and economic growth for the top 23 energy consumers. The period of observations spans from 1997 to 2017. The study w...

The COVID-19 crisis and global economic recession have shrunk the world's energy use, collapsed stock markets and crashed energy prices. Green economy projects are hence losing their focus and competitiveness, endangering the achievement of sustainable development goals and neutrality targets. The study aims to examine the dynamic linkages between...

In this study, it is tried to determine the effect of freight transportation in different transport modes on carbon emissions in Turkey during the period of 1970-2019. For this purpose, CO2 is used as a dependent variable, and the amount of freight transported by airline, road, rail, and sea are included as independent variables in the analysis. Ac...

This article attempts to examine the role of creativity on carbon intensity in case of Organization of the Petroleum Exporting Countries (OPEC) countries. The panel estimation techniques are used for annual data for the period of 1990–2018. The empirical evidence affirms that patent rights and innovation act as a policy factor in controlling carbon...

The oil refining industry has an important position in the Russian economy. However, most of the country’s oil refineries have outdated production capacities of tank farms for storing oil, and the issue of emissions from Russian refineries is a research gap in this area. The aim of this study was to identify the dynamics of changes in the amounts o...

We examine the directional predictability of energy stock returns on exchange rates and stock market in the E7 + 1 emerging market economies, which include India, China, Indonesia, South Korea, Turkey, Brazil, Mexico, and Russia, over the period 4 January 2000 to 31 May 2018. To achieve this, we carried out a cross‐quantile analysis in the static a...

This article is first to model energy poverty in Chinese households using an Engel curve approach. To analyse the determinants of energy poverty and energy expenditures across households, we avail the 2015 wave of the Chinese General Social Survey (CGSS). Possible presence of endogeneity is accounted for in the model specification as well as by usi...

In the context of climate change, just transition is particularly significant, and digitalization as a possible solution for a just transition is considered in this paper. We construct an econometric model between the digital economy and just transition by using a balanced panel dataset of 72 economies from 2010 to 2019, and explore their dynamic r...

Considering the potential relationship between the digital economy and energy transition, we investigate the effect of the digital economy on the structure of renewable energy consumption and generation by employing panel data of 72 countries covering the period 2003–2019. We also investigate the mediating effect of government governance, asymmetry...

How green trade affects regional environmental conditions is one of the core issues of sustainable economic growth in China. Based on the distinction of product quality, this study first assesses the level of provincial green trade by utilizing firm-level trade data on 142 green products. Then, based on panel data for the period 2007–2016 in China,...

Human capital appears to be at the core of business strategies helping firms to recover from the catastrophic effects of COVID19 and bounce back effectively. The book in hand provides a diverse view of the human capital, its multifaceted role and application in an organization. The book also offers a comprehensive analysis on the role of human capi...

In this paper, we aim to detect whether the instability of financial industry will restrict the global green evolution. To this end, by applying a sample dataset of 47 countries for the period 1996–2018, this study empirically examines the financial risk-green growth nexus, and also checks their regional heterogeneity as well as the impact of the f...

This study provides empirical evidence on the relationship between energy efficiency and production- and-consumption based carbon emissions by assessing the impact of population size, income, and clean energy on the carbon dioxide (CO2) emissions function. Method of Moments Quantile Regression (MM-QR) and Augmented Mean Group (AMG) estimators are a...

Tourism and globalization are considered as drivers of economic growth since they boost income, job opportunities, infrastructural development, international trade, foreign direct investment, capital flows, and technological diffusion. However, the economic benefits of tourism and globalization could occur at the expense of increased energy consump...

Background: Technological innovation and its paradigm, that is, the Fourth Industrial Revolution-4IR, have shown strong impact on income levels of adopters across the globe. To this end, this analysis examines the impact of bank funding and institutional quality on technological advancement Objectives: This study adds additional variables such as h...

This paper examines the effects of income inequality and governance on access to electricity using a panel of 43 SSA countries from 1990-2017. The results from the two-step GMM estimator revealed that while income inequality substantially reduced access to electricity, governance has been ineffective in improving it. The findings showed that govern...

Russia's competitiveness and productivity encounter the intense environmental challenges due to the reckless fossil fuel consumption, putting this country's long-run sustainability at risk. Despite this, this country intends to achieve the sustainable development goal by cutting greenhouse gas (GHG) emissions to 70% of its 1990 level as pledged in...

This paper empirically investigates whether cryptocurrencies might have a useful role in financial modelling and risk management in the energy markets. To do so, the causal relationship between movements on the energy markets (specifically the price of crude oil) and the value of cryptocurrencies is analysed by drawing on daily data from April 2013...

This paper estimates the association of financial development with energy poverty in Latin America through the entropy method, the Principal Component Analysis (PCA), and an econometric analysis. Energy poverty scores of Latin American countries are less than unitary, making up for 17.54 percent, which implies that 17.45 percent of the residents di...

Green finance has emerged as a strategy that encompasses not only instruments for mitigating greenhouse gas emissions and adapting to climate change, but also financial products and services that address a broader range of environmental concerns, including industrial pollution control, waste management, sanitation and hygiene, and ecological protec...

It is essential to study CO2 emissions intensity as the most critical factor affecting temperature increase and climate change in a country like Iran, which ranked seven regarding CO2 emissions intensity. Investigating the convergence of CO2 emissions intensity is essential in recognizing its dynamics in identifying the effectiveness of government...

Natural disasters and unexpected disruptive events have forced practitioners and researchers to build resilience capability into their systems to survive and grow in tempestuous and turbulent times. This study empirically examined the effect of multi-dimensional supply chain flexibility (MDSCF) in improving supply chain resilience (SCRES) under a h...

The outbreak of the COVID-19 pandemic has once again made the impacts of natural disasters a hot topic in academia. The environmental impacts of natural disasters, however, remain unsettled in the existing literature. This study aims to investigate the impact of natural disasters on CO2 emissions. For this purpose, we employ a panel dataset coverin...

The paper examines the relationship between financial fraud and a firm's implied equity cost. Using a U.S. sample of 15,552 firm‐year observations, we find a positive relationship between a firm's financial fraud and implied equity cost. Consistent with the monitoring channel, financial fraud increases a firm's equity cost in the presence of higher...

This study determines the impacts of gross domestic product, domestic bank credits given to private sector, and military expenditures on carbon emissions based on 1990–2019 time period. The panel quantile regression approach is applied for the Visegrád group countries. Our empirical results reveal that domestic bank credit given to private sector h...

A plethora of studies reveals that tourism development and structural change contribute to the socio-economic progress of the countries. However, the effects of tourism development and structural change on environmental quality yet to explore in detail. Hence, the present work evaluates the dynamics of tourism development and structural change on e...

It can be observed from the existing energy literature the previous papers investigating the influence of renewables consumption on GDP for the USA commonly ignore structural breaks in the US economy. Hence, the purpose of this paper is to examine the impact of renewable energy consumption on economic growth for the USA using quarterly data over th...

Though previous research has focused on the impact of financial development on renewable energy or energy efficiency in developed countries, no study has examined the effect of credit and equity market development on energy efficiency and renewable energy consumption in developing countries. The possibility of any spillover effects of low-carbon en...

This study examines whether convergence in institutional quality distinguished by economic and political dimensions of institutions has occurred across countries. The study uses data from 81 countries over the period of 1985 to 2018. The study tests the convergence hypothesis by using three different measures of institutional quality capturing poli...

The development of renewable energy industry is an important measure for countries to strengthen the construction of ecological civilization. Thus, to empirically investigate the underlying effect of renewable energy consumption on global energy poverty alleviation, we first assess the energy poverty composite index across the globe, and then explo...

In the preceding years, the rapid industrial growth in the BRICS nations has widened the scope for imported technology and other factor inputs. The literature suggests that these kinds of economic developments often exert negative pressure on the established ecosystem. In order to confirm this notion, therefore, in the present study, we examined th...

This study determines the impacts of gross domestic product, domestic bank credits given to private sector, and military expenditures on carbon emissions based on 1990-2019 time period. The panel quantile regression approach is applied for the Visegrád group countries. Our empirical results reveal that domestic bank credit given to private sector h...

To explore whether financial inclusion affects the collaborative reduction of pollutant and carbon emissions, we analyze the impact of financial inclusion on these emissions using a sample of 30 Chinese provinces from 2011 to 2017. This study further discusses the impact of financial inclusion in terms of asymmetry, heterogeneity, and the mediating...

To empirically investigate the potential impact of energy poverty on green growth in China, we employ a balanced panel dataset of 30 provinces for the period 2004–2017. For this purpose, we first construct an indicator system to measure a comprehensive index of green growth in China, and then examine the mediating effect of technological innovation...

This research attempts to examine the relationship between renewable and non-renewable electricity consumption, carbon dioxide (CO2) emissions and economic policy uncertainty for the United States. For empirical analysis, the study employs monthly data for the period of 1985M1 to 2020M12 and used Bootstrap Rolling approach. The empirical findings r...

This study creatively investigates the impact of extreme national climate risk on corporate environmental performance in the context of China. An innovative approach based on an assessment of the economic input-output life cycle is utilized to evaluate carbon footprint at the corporate level. We select the Chinese climate risk score calculated by G...

This study contributes to the literature of energy economics by divulging the nature of scale and technique effects on energy consumption, considering foreign direct investment (FDI) as one of considerable factors of energy demand. The Chinese provincial data over the period of 2000–2018 are used for empirical analysis. In doing so, we have applied...

Due to the surge in global warming and economic competition, the governments of nearly all the countries of the world are struggling to maximize the deployment of such energy sources that emit less carbon and are cost-effective. Additionally, the utilization of cost-effective energy options induces industrial growth by supplying low-cost fuel to in...

This paper is to find how the existence of a long-run relationship between oil prices and metals prices evolved for the time from January 1979 to December 2017. The rolling-window autoregressive lag modeling (RARDL) testing approach of cointegration has been introduced and applied to assess the long-run relationship considering four rolling windows...

To investigate the impact of natural disasters on energy poverty, this study employs a panel dataset of 113 countries covering the period 2000–2014. We also conduct an asymmetric analysis on the natural disaster–energy poverty nexus. In addition, we analyze the impact mechanism between natural disasters and energy poverty. The main findings indicat...

Global warming is now the most serious environmental challenge. In the most recent Paris accord, authorities opted to reduce global emissions to a certain level and voiced significant concern for China, the world's largest CO2 emitter, accounting for around 29.4% of total emissions. In contrast, coal accounts 65% of the majority of China's energy m...

This paper examines the nexus between fiscal decentralization and renewable energy demand by including income inequality, economic growth, urbanization, and economic globalization as the main determinants in the energy demand function for the case of China. Quarterly frequency data for the period 1980–2018 are used for empirical analysis. Our empir...

This paper applies the Logarithmic Mean Divisia Index to explore the decomposition and decoupling of sectoral carbon emissions across four provinces in the Yangtze River Delta (YRD). The results show that (1) the YRD experienced a significant upward trend in sectoral carbon emissions, among which Anhui and Jiangsu provinces experienced the largest...

This study aims to revisit the evidence of co-movement and lead-lag nexus between carbon dioxide emissions and economic growth in G7 countries over a period of two centuries by using the wavelet coherence analysis. The key findings reveal (i) a cyclical relationship between carbon dioxide emissions and GDP per capita, which implies that during the...

In the era of globalization, the nature of energy-growth nexus is undergoing transformation, and this transformation is owing to the rise in geopolitical complexity and changes in the social orders. This geopolitical complexity can be visualized in the economic slowdowns, trade patterns, impacts of globalization, cross-border technological spillove...

Undoubtedly, energy is indispensable to attain economic development; however, it also generates CO2 emissions, which are the dominant contributor to environmental deterioration and climate change. In this regard, clean energy can help to achieve both sustainable development and environmental sustainability since it comprises non-carbohydrate energy...

Despite extensive research to address the impact of environmental reforms under the Paris Climate Agreement, current literature has failed to provide sufficient insights into Regional Comprehensive Economic Partnership (RCEP) countries. To this end, the current study attempts to address the impact of the economic complexity on environmental quality...

Many researchers investigate the socio-demographic and economic factors-induced energy consumption, particularly fossil fuel-based non-renewable energy consumption, but there exists a scarcity to study on the same factors-driven renewable energy consumption along with institutional quality factor. Given this, our research strives to analyse the rel...

Natural gas import security has been a hot issue, and its environmental effects remain unsettled. In the context of carbon neutrality, this study aims to investigate the nexus between natural gas import security and CO2 emissions. For this purpose, we propose an effective composite index to measure the natural gas import security levels of 30 count...

This study extends the debate on environmental performance in PIIGS countries by examining the dynamic association between economic complexity, foreign direct investment, renewable energy, urbanization, and carbon emissions in 1990–2019. The dynamic ordinary least square (DOLS) estimator is applied for empirical analysis. The empirical evidence rev...

Pollution fees are an important financial tool for the government to achieve environmental protection goals. Accordingly, evaluating the emissions-reduction effect of pollution fees has important theoretical value for China's construction of an ecological civilization. Thus, using panel data of China's 30 provinces for the period 2000–2017, we exam...

Purpose Over the last couple of years, the Chinese manufacturing sector was affected by the onset of the US–China trade war and the outbreak of coronavirus disease 2019 (COVID-19). In such a scenario air quality in China has encountered a shock, and the impacts of these two incidents are unknown. In this study, the authors analyze the convergence o...

This study analyses the implications of Jeffery–Lindley’s paradox and Global Financial Crisis (GFC) for the operational aspect of macroeconomic policy coordination for financial stability. Using a Bayesian Vector Auto-regressive model and data from Jan 1985 to June 2016, our key findings suggest that the claim of macroeconomic policy interaction, i...

This paper investigates the relationship between renewable energy consumption (with different types) and CO2 emissions in the U.S. by using monthly data for the period of 1995-2017. The Quantile-on-Quantile regression (Q-Q) approach is applied for empirical purposes. In particular, we analyze in what manner the quantiles of renewable energy consump...

We investigate the hysteresis hypothesis by proposing a heterogeneous panel unit root test that allows for gradually changing trends and cross-sectional dependence (CSD) among panel members using a flexible Fourier form. Inconclusive results from previous studies are potentially due to using very restrictive specifications with homogenous break str...

This study aims to provide a comprehensive knowledge map of tourism and environmental degradation literature review based on scientific articles published between 1999 and 2020. The study provides an overview of research, influential authors, and journals. The PR China has maintained the lead in academic research with the most contribution in acade...