Contribution of Finance and Transport Indicators on Carbon Emissions: Evidence from Eurasian Countries

Yıl 2024, , 121 - 157, 04.09.2024

Kenan İlarslan , Tuğrul Bayat

https://doi.org/10.26650/ISTJECON2023-1297708

Öz

Carbon emission is one of the most significant causes of environmental degradation, global warming, and extraordinary meteorological events. It has reached a level that threatens the future of countries and human beings. To combat carbon emission, it is necessary to know the causes for developing policies. Environmental quality is a fundamental aspect of sustainable development in economies worldwide. In this context, Eurasian geography has always been an important region in the history of the world with its location, underground, and surface resources. Today, the region makes its strategic importance even more evident. The communist USSR ruled Eurasian countries, which served as a buffer between the Western world and China for many years. These countries, which gained their independence in the 1990s, have not yet fully captured the values of the modern world, such as democracy and a free market economy. This study focuses on Eurasian countries. This study aimed to determine the factors affecting carbon emissions. Foreign direct investment and transportation contribute significantly to carbon emission, which reduces environmental quality. Therefore, in this study, we investigated whether rail and road passenger transport and foreign direct investment affect carbon emission in Eurasian countries. The concurrent panel quantile regression method was used to estimate this relationship between 1992 and 2020. The results revealed that rail and road passenger transport and foreign direct investment increase emissions. Additionally, no clear result could be obtained regarding the effect of the GDP per capita variable. To support these findings, analyses were performed using the robust quantile regression method, and strong empirical evidence was obtained, particularly for the impacts of foreign direct investment and rail passenger transport on emissions.

JEL Classification : Q50 , L91 , F21 , C21

Anahtar Kelimeler

Environmental quality, Transportation, Foreign direct investment, Quantile regression

Proje Numarası

Yok

Kaynakça

• Abbass, Kashif., Song, H., Mushtaq, Z., & Khan, F. (2022). Does technology innovation matter for environmental pollution? Testing the pollution halo/haven hypothesis for Asian countries. Environmental Science and Pollution Research, 29, 89753-89771. https://doi.org/10.1007/ s11356-022-21929-w google scholar
• Abbasi, K. R, Kirikkaleli, D., & Altuntaş, M. (2022). Carbon dioxide intensity of GDP and environmental degradation in an emerging country. Environmental Science and Pollution Research, 29, 84451-84459. https:// doi. org/ 10. 1007/s11356- 022- 21679-9 google scholar
• Abid, A., Mehmood, U., & Tariq, S. (2022). The effect of technological innovation, FDI, and financial development on CO2 emission: Evidence from the G8 countries. Environmental Science and Pollution Research, 29, 11654-11662. https://doi.org/10.1007/s11356-021-15993-x google scholar
• Abul, S. J., & Satrovic, E. (2022). Revisiting the environmental impacts of railway transport: Does EKC exist in South-Eastern Europe? Polish Journal of Environmental Studies, 31(1), 1-11. https://doi. org/10.15244/pjoes/141329 google scholar
• Abdul-Mumuni, A., Amoh, J. K., & Mensah, B. D. (2023). Does foreign direct investment asymmetrically influence carbon emissions in sub-Saharan Africa? Evidence from nonlinear panel ARDL approach. Environmental Science and Pollution Research, 30, 11861-11872. https:// doi.org/10.1007/s11356-022-22909-w google scholar
• Acheampong, A. O., Dzator, J., & Amponsah, M. (2022). Analyzing the role of economic globalization in achieving carbon neutrality in Australia. International Journal of Sustainable Development & World Ecology, 6, 559-578. https://doi.org/ 10.1080/ 13504 509. 2022. 20567 71 google scholar
• Adebayo, T.S. (2023). Trade-off between environmental sustainability and economic growth through coal consumption and natural resources exploitation in China: New policy insights from wavelet local multiple correlation. Geological Journal, 4(5), 12-25. https://doi.org/ 10. 1002/ gj. 4664 google scholar
• Adebayo, T. S., Awosusi, A. A., Rjoub, H., Agyekum, E. B., & Kirikkaleli, D. (2022). The influence of renewable energy usage on consumption-based carbon emissions in MINT economies. Heliyon, 8(2), 08941. https://doi.org/10.1016/j.heliyon.2022.e08941 google scholar
• Adedoyin, F. F., Alola, A. A., & Bekun, F. V. (2021). The alternative energy utilization and common regional trade outlook in EU-27: Evidence from common correlated effects. Renewable and Sustainable Energy Reviews, 145, 111092. https://doi.org/10.1016/j.rser.2021.111092 google scholar
• Adeshola, I., Adebayo, T. S., Oladipupo, S. D., & Rjoub, H. (2022). Wavelet analysis of impact of renewable energy consumption and technological innovation on CO2 emissions: Evidence from Portugal. Environmental Science and Pollution Research, 29(16), 23887-23904. https://doi. org/10.1007/ s11356- 021- 17708-8 google scholar
• Aghasafari, H., Aminizadeh, M., Karbasi, Alireza., & Calisti, R. (2021). CO2 emissions, export and foreign direct investment: Empirical evidence from Middle East and North Africa Region, The Journal of International Trade & Economic Development, 30(7), 1054-1076, https://doi.org/10.10 80/09638199.2021.1934087 google scholar
• Ahmed, Z., Ahmad, M., Rjoub, H., Kalugina, O. A., & Hussain, N. (2021). Economic growth, renewable energy consumption, and ecological footprint: exploring the role of environmental regulations and democracy in sustainable development. Sustainable Development, 30(4), 595-605. https:// doi.org/10.1002/ sd. 2251 google scholar
• Ajide, K.B., & Ibrahim, R.L. (2021). Threshold effects of capital investments on carbon emissions in G20 economies. Environmental Science and Pollution Research, 28, 39052-39070. https://doi. org/10.1007/s11356-021-13046-x google scholar
• Ajija, S. R., Zakia, A. F., & Purwono, R. (2021). The impact of opening the export promotion agencies on Indonesia’s non-oil and gas exports. Heliyon. 7, 07756. https://doi.org/10.1016/j.heliyon.2021. e07756 google scholar
• Akadiri, S.S., & Adebayo, T.S. (2022). Asymmetric nexus among financial globalization, non-renewable energy, renewable energy use, economic growth, and carbon emissions: impact on environmental sustainability targets in India. Environmental Science and Pollution Research, 29, 16311-16323. https://doi.org/10.1007/s11356-021-16849-0 google scholar
• Akkaya, Ş., & Hepsag, A. (2021). Does fuel tax decrease carbon dioxide emissions in Turkey? Evidence from an asymmetric nonlinear cointegration test and error correction model. Environmental Science and Pollution Research, 28, 35094-35101. https://doi.org/10.1007/ s11356-021-12907-9 google scholar
• Akram, R., Fareed, Z., Xiaoli, G., Zulfiqar, B., & Shahzad, F. (2022a). Investigating the existence of asymmetric environmental Kuznets curve and pollution haven hypothesis in China: Fresh evidence from QARDL and quantile Granger causality. Environmental Science and Pollution Research, 29, 50454-50470. https://doi.org/10.1007/s11356-022-18785-z google scholar
• Akram, R., Umar, M., Xiaoli, G., & Chen, F. (2022b). Dynamic linkages between energy efficiency, renewable energy along with economic growth and carbon emission. A case of MINT countries an asymmetric analysis. Energy Reports, 8, 2119-2130. https://doi.org/10.1016/j.egyr.2022.01.153 google scholar
• Albulescu, C.T., Boatca-Barabas, M. E., & Diaconescu, A. (2022). The asymmetric effect of environmental policy stringency on CO2 emissions in OECD countries. Environmental Science and Pollution Research, 29, 27311-27327. https://doi.org/10.1007/s11356-021-18267-8 google scholar Alvarado, R., Tillaguango, B., Dagar, V., Ahmad, M., Işık, C., Mendez, P., & Toledo, E. (2021). Ecological footprint, economic complexity and natural resources rents in Latin America: Empirical evidence using quantile regressions. Journal of Cleaner Production, 318, 128585. https://doi.org/10.1016/j. jclepro.2021.128585 google scholar Andres, L., & Padilla, E. (2018). Driving factors of GHG emissions in the EU transport activity. Transport Policy, 61,60-74. https://doi.Org/10.1016/j.tranpol.2017.10.008 google scholar
• Apergis, N., Pinar, M., & Unlu, E. (2022). How do foreign direct investment flows affect carbon emissions in BRICS countries? Revisiting the pollution haven hypothesis using bilateral FDI flows from OECD to BRICS countries, Environmental Science and Pollution Research, 30, 14680-14692. https://doi.org/10.1007/s11356-022-23185-4 google scholar
• Arif, U., Arif, A., & Khan, F.N. (2022). Environmental impacts of FDI: evidence from heterogeneous panel methods. Environmental Science and Pollution Research, 29, 23639-23649. https://doi. org/10.1007/s11356-021-17629-6 google scholar
• Bai, J., & Ng, S. (2004). A Panic Attack on Unit Roots and Cointegration. Econometrica, 72, 11271177. https://doi.org/10.1111/j.1468-0262.2004.00528.x google scholar
• Balsalobre-Lorente D., Ibanez-Luzon, L., Usman M., & Shahbaz, M. (2022). The environmental Kuznets curve, based on the economic complexity, and the pollution haven hypothesis in PIIGS countries. Renewable Energy, 185, 1441-1455. https://doi.org/10.1016/j.renene.2021.10.059 google scholar
• Bandyopadhyay, A., & Rej, S. (2021). Can nuclear energy fuel an environmentally sustainable economic growth? Revisiting the EKC hypothesis for India. Environmental Science and Pollution Research, 28, 63065-63086 https://doi.org/10.1007/s11356-021-15220-7 google scholar
• Barbieri, L. (2009). Panel unit root tests under cross-sectional dependence: An overview. Journal of Statistics: Advances in Theory and Applications, 1(2), 117-158. google scholar
• Bashir, M. F. (2022). Discovering the evolution of Pollution Haven Hypothesis: A literature review and future research agenda. Environmental Science and Pollution Research, 29, 48210-48232. https://doi.org/10.1007/s11356-022-20782-1 google scholar
• Batmunkh, A., Nugroho, A., D., Farkas, M.F., & Lakner, Z. (2022). Global challenges and responses: Agriculture, economic globalization, and environmental sustainability in Central Asia. Sustainability, 14, 3-21. https://doi.org/10.3390/su14042455 google scholar
• Bekun, F.V., Alola, A.A., & Gyamfi, B.A. (2021). The relevance of EKC hypothesis in energy intensity real-output trade-off for sustainable environment in EU-27. Environmental Science and Pollution Research, 28, 51137-51148. https://doi.org/10.1007/s11356-021-14251-4 google scholar
• Belaid, F., Elsayed, A.H., & Omri, A. (2021). Key drivers of renewable energy deployment in the MENA Region: Empirical evidence using panel quantile regression. Structural Change and Economic Dynamics, 57, 225-238. https://doi.org/10.1016/j.strueco.2021.03.011 google scholar
• Benli, M., & Acar, Y. (2022). Foreign direct investment and pollution in middle-income and OECD member countries. Balkan Sosyal Bilimler Dergisi, 11(21), 54-62. google scholar
• Benzerrouk, Z., Abid, M., & Sekrafi, H. (2021). Pollution haven or halo effect? A comparative analysis of developing and developed countries. Energy Reports, 7, 4862-4871. google scholar
• Bergougui, B., & Murshed, S. M. (2023). Spillover effects of FDI inflows on output growth: An analysis of aggregate and disaggregated FDI inflows of 13 MENA economies. Australian Economic Papers, 1-25. https://doi.org/10.1111/1467-8454.12320 google scholar
• Beton Kalmaz, D., & Awosusi A. A. (2022). Investigation of the driving factors of ecological footprint in Malaysia. Investigation of the driving factors of ecological footprint in Malaysia. Environmental Science and Pollution Research, 37, 56814-56827. https://doi.org/10.1007/s11356-022-19797-5 google scholar
• Bilgili, F. Ozturk, I., Kocak, E., Kuskaya, S., & Cingoz, A. (2022). The nexus between access to electricity and CO2 damage in Asian Countries: The evidence from quantile regression models. Energy & Buildings, 256. 111761. https://doi.org/10.1016/j.enbuild.2021.111761 google scholar
• Brzezinski, Z. (1998). The Grand Chessboard: American Primacy And Its Geostrategic Imperatives, New York: Basic Books. google scholar
• Bulut, U., Ucler, G., Yilmaz, H. A., & Basaran, D. N. (2022). Is there a trade-off between financing current account deficits and environmental deterioration in developing countries? An empirical investigation for the validity of the pollution haven hypothesis. Environmental Science and Pollution Research, 29, 56090-56097. https://doi.org/10.1007/s11356-022-19819-2 google scholar
• Caetano, R.V., Marques, A.C., Afonso, T.L., & Vieira, I. (2022). A sectoral analysis of the role of foreign direct investment in pollution and energy transition in OECD countries. Journal of Environmental Management, 302.114018 https://doi.org/10.1016/j.jenvman.2021.114018 google scholar
• Cao, H., Khan, M.K., & Rehman, A. (2022). Impact of globalization, institutional quality, economic growth, electricity and renewable energy consumption on Carbon Dioxide Emission in OECD countries. Environmental Science and Pollution Research, 29, 24191-24202. https://doi. org/10.1007/s11356-021-17076-3 google scholar
• Chaudhry, I.S., Yin, W., Ali, S. A., Faheem, M., Abbas, Q., Farooq, F., & Rahman, S.U. (2022). Moderating role of institutional quality in validation of pollution haven hypothesis in BRICS: A new evidence by using DCCE approach. Environmental Science and Pollution Research, 29, 91939202. https://doi.org/10.1007/s11356-021-16087-4 google scholar
• Chen, F., Wang, L., Gu, Q., Wang, M., & Ding, X. (2022). Nexus between natural resources, financial development, green innovation and environmental sustainability in China: Fresh insight from novel quantile ARDL. Resources Policy, 79,102955. https://doi.org/10.1016/j. resou rpol. 2022. 102955 google scholar
• Chen, T., Bao, A., Jiapaer, G., Guo, Hao., Zheng, G., Jiang, L., Chang, C., & Tuerhanjiang, L. (2019). Disentangling the relative impacts of climate change and human activities on arid and semiarid grasslands in Central Asia during 1982-2015. Science of the TotalEnvironment, 653, 1311-1325. https://doi.org/10.1016/j.scitotenv.2018.11.058 google scholar
• Cheng, C., Xiaohang, R., Kangyin, D., Xiucheng, D., & Zhen, W. (2021). How does technological innovation mitigate CO2 emissions in OECD countries? Heterogeneous analysis using panel quantile regression. Journal of Environmental Management, 280, 11 1818. https://doi. org/10.1016/j.jenvman.2020.111818 google scholar
• Cheng, Y., & Yao, X. (2021). Carbon intensity reduction assessment of renewable energy technology innovation in China: A panel data model with cross-section dependence and slope heterogeneity. Renewable and Sustainable Energy Reviews, 135, 110157. https://doi. org/10.1016/j.rser.2020.110157 google scholar
• Churchill, S.A., Inekwe, J., Ivanovski, K., & Smyth, R. (2021). Transport infrastructure and CO2 emissions in the OECD over the long run. Transportation Research Part D: Transport and Environment, 95, 102857. https://doi.org/10.1016/j.trd.2021.102857 google scholar
• Cil, N. (2022). Re-examination of pollution haven hypothesis for Turkey with Fourier approach. Environmental Science and Pollution Research, 30, 10024-10036. https://doi.org/10.1007/ s11356-022-22800-8 google scholar
• Çakar, D, N., Gedikli, A., Erdoğan, S., & Yıldırım, D. Ç. (2021). A comparative analysis of the relationship between innovation and transport sector carbon emissions in developed and developing Mediterranean countries. Environmental Science and Pollution Research, 28, 4569345713. https://doi.org/10.1007/s11356-021-13390-y google scholar
• Dechezlepretre, A., Nachtigall, D., & Venmans, F. (2023). The joint impact of the European Union emissions trading system on carbon emissions and economic performance. Journal of Environmental Economics and Management, 1 18, 1-41. https://doi.org/10.1016/j. jeem.2022.102758 google scholar
• Dedeoğlu, M., Koçak, E., & Uucak, Z.Ş. (2021). The impact of immigration on human capital and carbon dioxide emissions in the USA: An empirical investigation. Air Quality, Atmosphere & Health, 14, 705-714. https://doi.org/10.1007/s11869-020-00973-w google scholar
• Delisi, Matt., Beaver, K. M., Wright, K. A., Wright, J. P., Vaughn, M.G., & Trulson, C.R. (2011). Criminal specialization revisited: A simultaneous quantile regression approach. American Journal of Criminal Justice, 36, 73-92. https://doi.org/10.1007/s12103-010-9083-1 google scholar
• Dinh, T. T-H., Vo, D.H., Vo, A. T., & Nguyen T. C. (2019). Foreign Direct Investment and Economic Growth in the Short Run and Long Run: Empirical Evidence from Developing Countries. Journal of Risk and Financial Management, 12(4),1-11. https://doi.org/10.3390/jrfm12040176 google scholar
• Djellouli, N., Abdelli, L., Elheddad, M., Ahmed, R.., & Mahmood, H. (2022). The effects of non-renewable energy, renewable energy, economic growth, and foreign direct investment on the sustainability of African countries. Renewable Energy, 183, 676-686. https://doi.org/10.1016/j. renene.2021.10.066 google scholar
• Do, D.A., Song, Y., Do, H.T., Tran, T.T.H., & Nguyen, T.T. (2022). The effect of foreign direct investment inflow on exports: Evidence from Vietnam. Journal of Asian Finance, Economics and Business, 9(2), 0325-0333. https://doi.org/10.13106/jafeb.2022.vol9.no2.0325 google scholar
• Doğan, B., Driha, O.M., Balsalobre-Lorente, D., & Shahzad, U. (2020). The mitigating effects of economic complexity and renewable energy on carbon emissions in developed countries. Sustainable Development, 29, 1-12. https://doi.org/10.1002/sd.2125 google scholar
• D’Orazio, P., & Dirks, M.W. (2022). Exploring the effects of climate-related financial policies on carbon emissions in G20 countries: a panel quantile regression approach. Environmental Science andPollution Research, 29, 7678-7702. https://doi.org/10.1007/s11356-021-15655-y google scholar
• Dong, F., Li, Y., Gao, Y., Zhu, J., Qin, C., & Zhang, X. (2022). Energy transition and carbon neutrality: Exploring the non-linear impact of renewable energy development on carbon emission efficiency in developed countries. Resources, Conservation and Recycling, 177, 106002. https:// doi.org/10.1016/j.resconrec.2021.106002 google scholar
• Du, L., Jiang, H., Adebayo, T.S., Awosusi, A.A., & Razzaq, A. (2022). Asymmetric effects of high-tech industry and renewable energy on consumption-based carbon emissions in MINT countries. Renewable Energy, 196, 1269-1280. https://doi.org/10.1016/j.renene.2022.07.028 google scholar
• Duan, Y., & Jiang, X. (2021). Pollution haven or pollution halo? A Re-evaluation on the role of multinational enterprises in global CO2 emissions. Energy Economics, 97, 105181. https://doi. org/10.1016/j.eneco.2021.105181 google scholar
• Dwivedi, A. K., & Soni, A. (2022). Drivers and critical paths of carbon emissions in India: A structural path decomposition analysis. Energy Sources, Part B: Economics, Planning, and Policy, 17(1). https://doi.org/10.1080/15567249.2022.2084185 google scholar
• Dzator, J., Acheampong, A.O., & Dzator, M., (2021). The impact of transport infrastructure development on carbon emissions in OECD countries. Environmental Sustainability and Economy, 3-17. https://doi.org/10.1016/B978-0-12-822188-4.00006-3 google scholar
• Ercan, U. (2021). Türkiye hanehalkı sağlık harcamaları belirleyicilerinin kantil regresyon yöntemiyle incelenmesi. Bingöl Üniversitesi İktisadi ve İdari Bilimler Fakültesi Dergisi, 5(1), 141-172. https:// doi.org/10.33399/biibfad.835976 google scholar
• Erdogan, S. (2021). Dynamic nexus between technological innovation and building sector carbon emissions in the BRICS countries. Journal of Environmental Management, 293, 112780. https:// doi.org/10.1016/j.jenvman.2021.112780 google scholar
• Esen, O., Yıldırım, D. Ç., & Yıldırım, S. (2021). Pollute less or tax more? Asymmetries in the EU environmental taxes - Ecological balance nexus. Environmental Impact Assessment Review, 91, 106662. https://doi.org/10.1016/j.eiar.2021.106662 google scholar
• Eurostat, (2020). Greenhouse gas emission statistics - emission inventories. https://ec.europa.eu/ eurostat/statistics-explained/index.php?title=Greenhouse_gas_emission_statistics_-_emission_ inventories (Accessed: 20.06.2022). google scholar
• Fang, K., Li, C., Tang, Y., He, J., & Song, J. (2022). China’s pathways to peak carbon emissions: New insights from various industrial sectors. Applied Energy, 306, 118039. https://doi.org/10.1016/j. apenergy.2021.118039 google scholar
• Firoj, M., Sultana, N., Khanom, S., Rashid, M.H.U., & Sultana, A. (2023). Pollution haven hypothesis and the environmental Kuznets curve of Bangladesh: an empirical investigation. Asia-Pacific Journal of Regional Science, 7, 197-227. https://doi.org/10.1007/s41685-022-00258-3 google scholar
• Gao, L., Pei, T., Zhang, J., & Tian, Y. (2022). The “pollution halo” effect of FDI: Evidence from the Chinese Sichuan-Chongqing urban agglomeration. International Journal of Environmental Research and Public Health, 19, 11903. https://doi.org/10.3390/ijerph191911903 google scholar
• Gengenbach, C., Palm, F.C., & Urbain, J.-P. (2009). Panel unit root tests in the presence of cross-sectional dependencies: Comparison and implications for modeling. Econometric Reviews, 29(2) 111-145. https://doi.org/10.1080/07474930903382125 google scholar
• Godil, D., Sharif, A., Afshan, S., Yousuf, A., & Khan, S. (2020). The asymmetric role of Freight and Passenger Transportation in testing EKC in the US Economy: Evidence from QARDL approach. Environmental Science and Pollution Research, 27, 1-22. https://doi.org/10.1007/s11356-020-09299-7. google scholar
• Gyamfi, B. A.. Bein, M. A.. Udemba, E.N., & Bekun, F. V. (2022). Renewable energy, economic globalization and foreign direct investment linkage for sustainable development in the E7 economies: revisiting the pollution haven hypothesis. International Social Science, 72, 91-110. https://doi.org/10.1111/issj.12301 google scholar
• Habiba, U., Xinbang, C., & Ahmad, R.I. (2021). The influence of stock market and financial institution development on carbon emissions with the importance of renewable energy consumption and foreign direct investment in G20 countries. Environmental Science and Pollution Research, 28, 67677-67688. https://doi.org/10.1007/s11356-021-15321-3 google scholar
• Handoyo, R.D., Rahmawati, Y., Altamirano, O.G.R., Ahsani, S.F., Hudang A.K., & Haryanto, T. (2022). An empirical investigation between FDI, tourism, and trade on CO2 emission in Asia: Testing environmental kuznet curve and pollution haven hypothesis. International Journal of Energy Economics and Policy, 12(4), 385-393. google scholar
• Heinold A. (2020). Comparing emission estimation models for rail freight transportation. Transportation Research Part D: Transport and Environment, 86, 102468. https://doi. org/10.1016/j.trd.2020.102468 google scholar
• Huang, W., Ortiz, G.G.R., Kuo, Y-L., Maneengam, A., Nassani, A. A., & Haffar, M. (2022a). The non-linear impact of renewable energy and trade on Consumption-based carbon emissions. Fuel, 324, 124423. https://doi.org/10.1016/j.fuel.2022.124423 google scholar
• Huang, Y., Kuldasheva, Z., & Bobojanov, S. (2022b). Exploring the links between fossil fuel energy consumption, industrial value-added, and carbon emissions in G20 countries. Environmental Science and Pollution Research, 30, 10854-10866. https://doi.org/10.1007/s11356-022-22605-9 google scholar
• Hussain, M., Bashir, M.F., & Shahzad, U. (2021). Do foreign direct investments help to bolster economic growth? New insights from Asian and Middle East economies. World Journal of Entrepreneurship, Management and Sustainable Development, 17(1), 62-84. https://doi. org/10.1108/WJEMSD-10-2019-0085 google scholar
• Hussain, Z., Khan, M.K., & Xia, Z. (2022). Investigating the role of green transport, environmental taxes and expenditures in mitigating the transport CO2 emissions. Transportation Letters, 15(5), 439-449. https://doi.org/10.1080/19427867.2022.2065592 google scholar
• International Energy Association (IEA) (2019a). Cement. Tracking Clean Energy Progress. URL: www. idea.org/crept/indus ty/cement/ (Accessed: 20.01.2023). google scholar
• International Energy Association (IEA) (2019b). https://iea.blob.core.windows.net/assets/fb7dc9e4-d5ff-4a22-ac07-ef3ca73ac680/The_Future_of_Rail.pdf (Accessed: 22.09.22) google scholar
• IPPC (2018). Global warming of 1.5C. https://www.ipcc.ch/site/assets/uploads/sites/2/2019/06/ SR15_Full_Report_High_Res.pdf (Accessed: 20.06.2022). google scholar
• Iqbal, A., Tang, X., & Rasool, S.F. (2022). Investigating the nexus between CO2 emissions, renewable energy consumption, FDI, exports and economic growth: evidence from BRICS countries. Environment, Development and Sustainability, 25, 2234-2263. https://doi.org/10.1007/s10668-022-02128-6 google scholar
• ITF (2019). Efficiency in railway operations and infrastructure management, ITF Roundtable Reports, 177. OECD Publishing, Paris, google scholar
• John, O. O. (2015). Robustness of quantile regression to outliers. American Journal of Applied Mathematics and Statistics, 3(2), 86-88. doi:10.12691/ajams-3-2-8. google scholar
• John, O. O., & Nduka, E. C. (2009). Quantile regression analysis as a robust alternative to ordinary least squares. Scientia Africana, 8(2), 61-65. google scholar
• Jia, R., Shao, S., & Yang, L. (2021). High-speed rail and CO2 emissions in urban China: A spatial difference-in-differences approach. Energy Economics, 99, 105271. https://doi.org/10.1016/j. eneco.2021.105271 google scholar
• Jijian, Z., Twum, A.K., Agyemang, A.O., Edziah, B.K., & Ayamba, E.C. (2021). Empirical study on the impact of international trade and foreign direct investment on carbon emission for Belt and Road countries. Energy Reports, 7, 7591-7600. https://doi.Org/10.1016/j.egyr.2021.09.122 2 google scholar
• Joo, B.A., Shawl, S., & Makina, D. (2022). The interaction between FDI, host country characteristics and economic growth? A new panel evidence from BRICS. Journal of Economics and Development, 24(3), 247-261. https://doi.org/10.1108/JED-03-2021-0035 google scholar
• Joof, F., & Isiksal, A.Z. (2021). Do human capital and export diversification decline or augment CO2 emissions? Empirical evidence from the MINT countries. Journal of Environmental Accounting and Management, 9(2), 111-125. https://doi.org/10.5890/JEAM.2021.06.002 google scholar
• Khan, M. K., Zahid, R.M.A., Saleem, A., & Sagi, J. (2021b). Board composition and social & environmental accountability: a dynamic model analysis of Chinese firms. Sustainability, 13, 10662. https://doi.org/10.3390/su131-910662 google scholar
• Khan, S.A.R., Ponce, P., & Yu, Z. (2021a). Technological innovation and environmental taxes toward a carbon-free economy: An empirical study in the context of COP-21. Journal of Environmental Management, 298, 113418. google scholar
• Kirikkaleli, D., & Adebayo, T.S. (2021). Do public-private partnerships in energy and renewable energy consumption matter for consumption-based carbon dioxide emissions in India? Environmental Science and Pollution Research, 28, 30139-30152. https://doi.org/10.1007/ s11356-021-12692-5 google scholar
• Kirikkaleli, D., Awosusi, A.A., & Adebayo, T.S. (2023). Enhancing environmental quality in Portugal: can CO2 intensity of GDP and renewable energy consumption be the solution?. Environmental Science andPollution Research, 30, 53796-53806. https://doi.org/10.1007/s11356-023-26191-2 google scholar
• Kisswani, K.M. & Zaitouni, M. (2023). Does FDI affect environmental degradation? Examining pollution haven and pollution halo hypotheses using ARDL modeling. Journal of the Asia Pacific Economy, 28(4), 1406-1432. https://doi.org/10.1080/13547860.2021.1949086 google scholar
• Leal, P.H., & Marques, A.C. (2022). The evolution of the environmental Kuznets curve hypothesis assessment: A literature review under a critical analysis perspective. Heliyon, 11521. https://doi. org/10.1016/j.heliyon.2022.e11521 google scholar
• Li, J., & Luo, N. (2020). Has the opening of high-speed rail improved the level of urban air pollution? China Economic Quarterly, 19(04),1335-1354. google scholar
• Li, X., Sohail, S., & Majeed, M.T. (2021). Green logistics, economic growth, and environmental quality: evidence from one belt and road initiative economies. Environmental Science and Pollution Research, 28, 30664-30674. https://doi.org/10.1007/s11356-021-12839-4 google scholar
• Lin, S., Luo, N., & Yang, J. (2019). Vehicle structure and eco-efficiency: based on the dynamic spatial Durbin model. Economic Geography, 39(12), 21-30. https://doi.org/10.15957/j.cnki. jjdl.2019.12.003 google scholar
• Lin, Y., Qin, Y., & Wu, J. (2021). Impact of high-speed rail on road traffic and greenhouse gas emissions. Nature Climate Change, 11, 952-957. https://doi.org/10.1038/s41558-021- google scholar
• Liu, Y., Sadiq, F., Ali, W., & Kumail, T. (2022). Does tourism development, energy consumption, trade openness and economic growth matters for ecological footprint: Testing the Environmental Kuznets Curve and pollution haven hypothesis for Pakistan. Energy, 245, 123208 https://doi. org/10.1016/j.energy.2022.123208 google scholar
• Lu, J., Li, B., Li, H., & Al-Barakani, A. (2021). Expansion of city scale, traffic modes, traffic congestion, and air pollution. Cities, 108,102974. https://doi.org/10.1016/j.cities.2020.102974 google scholar
• Ma, Q., Murshed, M., & Khan, Z. (2021). The nexuses between energy investments, technological innovations, emission taxes, and carbon emissions in China. Energy Policy, 155, 112345. https:// doi.org/10.1016/j.enpol.2021.112345 google scholar
• Mackinder, H. J. (1904). The Geographical Pivot of History. The Geographical Journal, 23(4), 421-437. google scholar
• Maji, S. G., & Saha, R. (2021). Gender diversity and financial performance in an emerging economy: empirical evidences from India. Management Research Review, 44(12), 1660-1683. https://doi. org/10.1108/MRR-08-2020-0525 google scholar
• Milanez, A. (2020). Workforce Ageing and Labour Productivity Dynamics. Economy, 66(3), 1-13. https://doi.org/10.2478/ngoe-2020-0013 google scholar
• Mkombe, D., Tufa, A.H., Alene, A.D., Manda, J., Feleke, S., Abdoulaye, T., & Manyong, V. (2021). The effects of foreign direct investment on youth unemployment in the Southern African Development Community. Development Southern Africa, 38, 6, 863-878, https://doi.org/10.108 0/0376835X.2020.1796598 google scholar
• Mu, D., Hanif, S., Alam, K. M., & Hanif, O. (2022). A correlative study of modern logistics industry in developing economy and carbon emission using ARDL: A case of Pakistan. Mathematics, 10, 629. https://doi.org/10.3390/math10040629 google scholar
• Mukit, M. M. H., Abdel-Razzaq, A. I., & Islam, M. S. (2020). Relationship between unemployment and macroeconomics aggregates: Evidence from Bangladesh. Journal of Economics and Financial Analysis, 4(2), 45-61. https://orcid.org/0000-0002-7956-484X google scholar
• Musah, M., Mensah, I. A., Alfred, M., Mahmood, H., Murshed, M., Sasu, A. Y. O., Boateng, F., Nyeadi, J. D., & Coffi, C. P. K. (2022). Reinvestigating the pollution haven hypothesis: the Nexus between foreign direct investments and environmental quality in G 20 countries. Environmental Science and Pollution Research, 29, 31330-31347. https://doi.org/10.1007/s11356-021-17508-0 google scholar
• Mustapa, S., & Bekhet, H. A. (2015). Investigating factors affecting CO2 emissions in Malaysian road transport sector. International Journal of Energy Economics and Policy, 5(4), 1073-1083. google scholar
• Nasir, M. A., Huynh, T. L. D., & Tram, H. T. X. (2019). Role of financial development, economic growth & foreign direct investment in driving climate change: A case of emerging ASEAN. Journal of Environmental Management, 242, 131-141. https://doi.org/10.1016/j. jenvman.2019.03.112 google scholar
• Neves, S. A., Marques, A. C., & Patrico, M. (2020). Determinants of CO2 emissions in European Union countries: Does environmental regulation reduce environmental pollution? Economic Analysis and Policy, 68, 114-125. https://doi.org/10.1016/j.eap.2020.09.005 google scholar
• Nguyen, D. K., Huynh, T. L. D., & Nasir, M. A. (2021). Carbon emissions determinants and forecasting: Evidence from G6 countries. Journal of Environmental Management, 285, 111988. https://doi. org/10.1016/j.jenvman.2021.111988 google scholar
• Nguyen, V. B. (2021). The Difference in the FDI- CO2 emissions relationship between developed and developing countries: Empirical evidence based on institutional perspective. Hitotsubashi Journal of Economics, 62, 124-140. https://doi.org/10.15057/hje.2021006 google scholar
• Ni, T. V., Yusof, Z. Md., Misiran, M., & Supadi, S.S. (2021). Assessing youth unemployment rate in Malaysia using multiple linear regression. Journal of Mathematics and Computing Science, 7(1), 23-34. google scholar
• Opoku, E. E. O., & Aluko, O. A. (2021). Heterogeneous effects of industrialization on the environment: Evidence from panel quantile regression. Structural Change and Economic Dynamics, 59, 174-184. https://doi.Org/10.1016/j.strueco.2021.08.015 google scholar
• Pan, X., Guo, S., Xu, H., Tian, M., Pan, X., & Chu, J. (2022). China’s carbon intensity factor decomposition and carbon emission decoupling analysis. Energy, 239(5), 122175. https://doi. org/10.1016/j.energy.2021.122175 google scholar
• Pavel, J., Tepperova, J., & Arltova, M. (2021). Tax factors affecting FDI allocation in the EU post-socialist states. Post-Communist Economies, 33(6), 710-725, https://doi.org/10.1080/14631377.2 020.1827198 google scholar
• Poberezhskaya, M., & Bychkova, A. (2022). Kazakhstan’s climate change policy: Reflecting national strength, green economy aspirations and international agenda. Post-Communist Economies, 34(7), 894-915. https://doi.org/10.1080/14631377.2021.1943916 google scholar
• Polloni-Silva, E., Ferraz, D., Camioto, F., Rebelatto, D. A. N., & Moralles, H. F. (2021). Environmental kuznets curve and the pollution-halo/haven hypotheses: An investigation in Brazilian municipalities. Sustainability, 13, 4114. https://doi.org/10.3390/su13084114 google scholar
• Polloni-Silva, E., Roiz, G. A., Mariano, E. B., Moralles, H. F., & Rebelatto, D. A. N. (2022). The environmental cost of attracting FDI: An empirical investigation in Brazil. Sustainability, 2022, 14, 4490. https://doi.org/ 10.3390/su14084490 google scholar
• Ponce, P., & Khan, S. A. R. (2021). A causal link between renewable energy, energy efficiency, property rights, and CO2 emissions in developed countries: A road map for environmental sustainability. Environmental Science and Pollution Research, 28, 37804-37817. https://doi. org/10.1007/s11356-021-12465-0 google scholar
• Qayyum, M., Yu, Y., Nizamani, M. M, Raza, S., Ali, M., & Li, S. (2022). Financial instability and CO2 emissions in India: evidence from ARDL bound testing approach. Energy & Environment, 34(4), 808-829. https:// doi.org/10.1177/0958305X211065019 google scholar
• Qudrat-Ullah, H. (2022). A review and analysis of renewable energy policies and CO2 emissions of Pakistan. Energy, 238, 21849. https://doi.org/10.1016/j.energy.2021.121849 google scholar
• Radmehr, R., Henneberry, S. R., & Shayanmehr, S. (2021). Renewable energy consumption, CO2 emissions, and economic growth nexus: A simultaneity spatial modeling analysis of EU countries. Structural Change and Economic Dynamics, 57, 13-27. https://doi.org/10.1016/j. strueco.2021.01.006 google scholar
• Rahman, M.M., Nepal, R., & Alam, K. (2021). Impacts of human capital, exports, economic growth and energy consumption on CO2 emissions of a cross-sectionally dependent panel: Evidence from the newly industrialized countries (NICs). Environmental Science and Policy, 121, 24-36 https://doi.org/10.1016/j.envsci.2021.03.017 google scholar
• Raihan, A., & Tuspekova, A. (2022). Dynamic impacts of economic growth, renewable energy use, urbanization, industrialization, tourism, agriculture, and forests on carbon emissions in Turkey. Carbon Research, 1-20. https://doi.org/10.1007/s44246-022-00019-z google scholar
• Raza, S. A., Shah, N., & Sharif, A. (2019). Time-frequency relationship between energy consumption, economic growth and environmental degradation in the United States: Evidence from transportation sector. Energy, 173, 706-720. https://doi.org/10.1016/j.energy.2019.01.077 google scholar
• Rezk, H., Amer, G., Fathi, N., & Sun, S. (2022). The impact of FDI on income inequality in Egypt. Economic Change and Restructuring, 55, 2011-2030 (2022). https://doi.org/10.1007/s10644-021-09375-z google scholar
• Ritchie, H., Roser, M., & Rosado, P. (2020). CO2 and Greenhouse Gas Emissions, https:// ourworldindata.org/emissions-by-sector (Accessed: 15.11.2022) google scholar
• Rodrigue, J-P., Comtois, C., & Slack, B. (2020). The Geography of transport systems, Fifth edition, Routledge, https://doi.org/10.4324/9781315618159 google scholar
• Salahodjaev, R., & Isaeva, A. (2022). Post-Soviet states and CO2 emissions: the role of foreign direct investment. Post-Communist Economies, 34(7), 944-965. https://doi.org/10.1080/14631377.202 1.1965360 google scholar
• Serfraz, A., Qamruzzaman, M., & Karim, S. (2023). Revisiting the nexus between economic policy uncertainty, financial development, and FDI inflows in Pakistan during Covid-19: Does clean energy matter? International Journal of Energy Economics and Policy, 13(4), 91-101. https://doi. org/10.32479/ijeep.14360 google scholar
• Seum, S., Ehrenberger, S., & Pregger, T. (2020). Extended emission factors for future automotive propulsion in Germany considering fleet composition, new technologies and emissions from energy supplies. Atmospheric Environment, 233, 1 17568. https://doi.org/10.1016/j. atmosenv.2020.117568 google scholar
• Shahbaz, M., Li, J., Dong, X., & Dong, K. (2022). How financial inclusion affects the collaborative reduction of pollutant and carbon emissions: The case of China. Energy Economics, 107, 105847. https://doi.org/10.1016/j.eneco.2022.105847 google scholar
• Shahbaz, M., Nasreen, S., Abbas, F., & Anis, O. (2015a). Does foreign direct investment impede environmental quality in high-middle-, and low-income countries? Energy Economics, 51, 275287. https://doi.org/10.1016/j.eneco.2015.06.014 google scholar
• Shahbaz, M., Khraief, N., & Jemaa, M. M. B. (2015b). On the causal nexus of road transport CO2 emissions and macroeconomic variables in Tunisia: evidence from combined cointegration tests. Renewable and Sustainable. Energy Reviews, 51, 89-100. https://doi.org/10.1016/j. rser.2015.06.014 google scholar
• Shi, K., Di, B., Zhang, K., Feng, C., & Svirchev, L. (2018). Detrended cross-correlation analysis of urban traffic congestion and NO2 concentrations in Chengdu. Transportation Research Part D: Transport and Environment, 61, 165-173. https://doi.org/10.1016/j.trd.2016.12.012 google scholar
• Sikder, M., Wang, C., Yao, X., Huai, X., Wu, L., KwameYeboah, F., Wood, J., Zhao. Y., & Dou, X. (2022). The integrated impact of GDP growth, industrialization, energy use, and urbanization on CO2 emissions in developing countries: Evidence from the panel ARDL approach. Science of the Total Environment, 837,155795. https://doi.org/10.1016/j. google scholar
• Sohail, M. T., Ullah, S., Majeed, M. T. & Usman, A. (2021). Pakistan management of green transportation and environmental pollution: A nonlinear ARDL analysis. Environmental Science and Pollution Research, 28, 29046-29055. https://doi.org/10.1007/s11356-021-12654-x google scholar
• Song, W., Mao, H., & Han, X. (2021). The two-sided effects of foreign direct investment on carbon emissions performance in China. Science of the Total Environment, 791, 148331. https://doi. org/10.1016/j.scitotenv.2021.148331 google scholar
• Strauss, J., Li, H., & Cui, J. (2021). High-speed Rail’s impact on airline demand and air carbon emissions in China. Transport Policy, 109, 85-97. https://doi.org/10.1016/j.tranpol.2021.05.019 google scholar
• Sun, L., & Li, W. (2021). Has the opening of high-speed rail reduced urban carbon emissions? Empirical analysis based on panel data of cities in China. Journal of Cleaner Production, 321, 128958. https://doi.org/10.1016/j.jclepro.2021.128958 google scholar
• Sun, Y., Yesilada, F., Andlib, Z., & Ajaz, T. (2021). The role of eco-innovation and globalization towards carbon neutrality in the USA. Journal of Environmental Management, 299, 113568. https://doi.org/10.1016/j.jenvman.2021.113568 google scholar
• Tang, Z., Mei, Z., & Zou, J. (2021). Does the opening of high-speed railway lines reduce the carbon ıntensity of China’s resource-based cities? Energies, 14, 4648. https://doi.org/10.3390/ en14154648 google scholar
• Tayebi, Z., Önel, G., & Moss, C. B. (2021). Use of panel time-series data with cross-section dependence in evaluating farmland valuation: A cautionary note. Applied Economics Letters, 28(6), 487-492, https://doi.org/10.1080/13504851.2020.1761527 google scholar
• Tayyar, A. E. (2022). Testing pollution haven and pollution halo hypotheses for the energy sector: Evidence from Turkey. Business and Economics Research Journal, 13(3), 367-383. http://dx.doi. org/10.20409/berj.2022.378 google scholar
• Tufail, M., Song, L., & Adebayo, T. S. (2021). Do fiscal decentralization and natural resources rent curb carbon emissions? Evidence from developed countries. Environmental Science and Pollution Research, 28, 49179-49190. https://doi.org/10.1007/s11356-021-13865-y google scholar
• Usman, M., Balsalobre-Lorente, D., Jahanger, A., & Ahmad, P. (2022). Pollution concern during globalization mode in financially resource-rich countries: Do financial development, natural resources, and renewable energy consumption matter? Renewable Energy, 183, 90-102 https:// doi.org/10.1016/j.renene.2021.10.067 google scholar
• Vujanovic, N., Radosevic, S., Stojcic, N., Hisarciklilar, Mehtap., & Iraj, H. (2022) FDI spillover effects on innovation activities of knowledge using and knowledge creating firms: Evidence from an emerging economy. Technovation, 1 18, 102512. https://doi.org/10.1016/j. technovation.2022.102512. google scholar
• Wang, B., Sun, Y., Chen, Q., & Wang, Z. (2018). Determinants analysis of carbon dioxide emissions in passenger and freight transportation sectors in China. Structural Change and Economic Dynamics, 47,127-132. https://doi.Org/10.1016/j.strueco.2018.08.003 google scholar
• Wang, H., & Luo, Q. (2022). Can a colonial legacy explain the pollution haven hypothesis? A city-level panel analysis, Structural Change and Economic Dynamics, 60, 482-495 https://doi. org/10.1016/j.strueco.2022.01.004 google scholar
• Wang, Q., Li, S., Li, R., & Jiang, F. (2022). Underestimated impact of the COVID-19 on carbon emission reduction in developing countries - A novel assessment based on scenario analysis. Environmental Research, 204, 111990. https://doi.org/10.1016/j.envres.2021.111990 google scholar
• World Economic Forum (WEF). (2022). The Global Risks Report 2022. Geneva: WEF- The Global Risks Report 2022. 17th Edition. google scholar
• World Bank (2014). Eurasia’s Development: Diversifying Economies, Naturally. https://www. worldbank.org/en/news/feature/2014/02/03/eurasias-development-investing-in-diversity-naturally (Accessed: 15.10.2022). google scholar
• Wu, L., Sun, L., Qi, P., Ren, X., & Su, X. (2021). Energy endowment, industrial structure upgrading, and CO2 emissions in China: Revisiting resource curse in the context of carbon emissions. Resources Policy, 74, 102329. https://doi.org/10.1016/j.resourpol.2021.102329 google scholar
• Wu, S., & Zhang, K. (2021). Influence of Urbanization and Foreign Direct Investment on Carbon Emission Efficiency: Evidence from Urban Clusters in the Yangtze River Economic Belt. Sustainability, 13, 2722. https://doi.org/10.3390/su13052722 google scholar
• Xenarios, S., Gafurov, A., & Schmidt-Vogt, D. (2019). Climate change and adaptation of mountain societies in Central Asia: uncertainties, knowledge gaps, and data constraints. Regional Environmental Change, 19, 1339-1352. https://doi.org/10.1007/s10113-018-1384-9 google scholar
• Xiangyu, S., Jammazi, R., & Aloui, C. (2021). On the nonlinear effects of energy consumption, economic growth, and tourism on carbon footprints in the USA. Environmental Science and Pollution Research, 28, 20128-20139. https://doi.org/10.1007/s11356-020-12242-5 google scholar
• Xie, Q., Adebayo, T. S., Irfan, M., & Altuntaş, M. (2022) Race to environmental sustainability: Can renewable energy consumption and technological innovation sustain the strides for China? Renewable Energy, 197. 320-330. https://doi.org/10.1016/j.renene.2022.07.138 google scholar
• Xu, C., Zhao, W., Zhang, M., & Cheng, B. (2021a). Pollution haven or halo? The role of the energy transition in the impact of FDI on SO2 emissions. Science of the Total Environment, 763, 143002 https://doi.org/10.1016/j.scitotenv.2020.143002 google scholar
• Xu, L., Fan, M., Yang, L., & Shao, S. (2021b). Heterogeneous green innovations and carbon emission performance: Evidence at China’s city level. Energy Economics, 99, 105269. https://doi. org/10.1016/j.eneco.2021.105269 google scholar
• Yamaka, W., Phadkantha, R., & Rakpho, P. (2021). Economic and energy impacts on greenhouse gas emissions: A case study of China and the USA. Energy Reports, 7(3), 240-247. https://doi. org/10.1016/j.egyr.2021.06.040 google scholar
• Yang, B., Ali, M., & Hashmi, S. H. (2022). Do income inequality and institutional quality affect CO2 emissions in developing economies? Environmental Science and Pollution Research, 29, 4272042741. https://doi.org/10.1007/s11356-021-18278-5 google scholar
• Yang, X., Li, Nan., Mu, H., Pang, J., Zhao, H., & Ahmad, M. (2021a). Study on the long-term impact of economic globalization and population aging on CO2 emissions in OECD countries. Science of The Total Environment, 787, 147625 https://doi.org/10.1016/j.scitotenv.2021.147625 google scholar
• Yang, H., Shahzadi, I., & Hussain, M. (2021b). USA carbon neutrality target: Evaluating the role of environmentally adjusted multifactor productivity growth in limiting carbon emissions. Journal of Environmental Management, 298, 113385 https://doi.org/10.1016/j.jenvman.2021.113385 google scholar
• Yıldırım, A. E., & Yıldırım, M. O. (2021). Revisiting the determinants of carbon emissions for Turkey: the role of construction sector. Environmental Science and Pollution Research, 28, 42325-42338. https://doi.org/10.1007/s11356-021-13722-y google scholar
• Yousaf, H., Amin, A., & Baloch, A. (2021). Investigating household sector’s non-renewables, biomass energy consumption and carbon emissions for Pakistan. Environmental Science and Pollution Research, 28, 40824-40834. https://doi.org/10.1007/s11356-021-12990-y google scholar
• Yu, Y., & Zhang, N. (2021). Low-carbon city pilot and carbon emission efficiency: Quasi-experimental evidence from China. Energy Economics, 96, 105125. https://doi.org/10.1016/j. eneco.2021.105125 google scholar
• Yu, Z., Khan, S. A. R., Ponce, P., de Sousa Jabbour, A. B. L., & Jabbour, C. J. C. (2022). Factors affecting carbon emissions in emerging economies in the context of a green recovery: Implications for sustainable development goals. Technological Forecasting and Social Change, 176, 121417. https://doi.org/10. 1016/j. techf ore. 2021. 121417 google scholar
• Zafar, M. W., Sinha, A., Ahmed, Z., Qin, Q., & Zaidi, S. A. H. (2021). Effects of biomass energy consumption on environmental quality: The role of education and technology in Asia-Pacific Economic Cooperation countries. Renewable and Sustainable Energy Reviews, 142, 110868 https://doi.org/10.1016/j.rser.2021.110868 google scholar
• Zaidi, S. A. H., Hussain, M., & Zaman, Q, U. (2021). Dynamic linkages between financial inclusion and carbon emissions: Evidence from selected OECD countries. Resources, Environment and Sustainability, 4, 100022, https://doi.org/10.1016/j.resenv.2021.100022 google scholar
• Zhang, W., Huang, Y., & Wu, H. (2022). The symmetric and asymmetric effects of economic policy uncertainty and oil prices on carbon emissions in the USA and China: evidence from the ARDL and non-linear ARDL approaches. Environmental Science and Pollution Research, 29, 2646526482. https://doi.org/10.1007/s11356-021-17839-y google scholar
• Zhao, C., Wang, K., Dong, X., & Dong, K. (2022). Is smart transportation associated with reduced carbon emissions? The case of China. Energy Economics, 105, 105715. https://doi.org/10.1016/j. eneco.2021.105715 google scholar
• Zhou, Y., Xu, X., & Tao, L. (2022). The impact mechanism of high-speed railway on regional green innovation spillover under multi-dimensional paths. Environmental Impact Assessment Review, 95, 106795. https://doi.org/10.1016/j.eiar.2022.106795 google scholar
• Zhu, X., Jianguo, D., & Ali, K. (20203). Do green logistics and green finance matter for achieving the carbon neutrality goal?. Environmental Science and Pollution Research, 30, 115571-115584. https://doi.org/10.1007/s11356-023-30434-7 google scholar