Shrabani Saha

This study examines whether carbon pricing can reconcile financial development with environmental sustainability using a panel of 70 developed and developing countries over the period 1990–2024. Employing an interaction framework and alternative measures of carbon‐pricing adoption and price stringency, we find that financial development increases CO ₂ emissions, whereas carbon pricing directly reduces emissions and weakens the adverse environmental effects of financial expansion. Emissions trading systems exhibit more consistent and precisely estimated mitigation effects than carbon taxes. Importantly, the effectiveness of carbon taxation depends on the strength of the price signal: while the adoption of a carbon tax alone is not significantly associated with emissions, higher carbon‐tax rates are associated with significant emissions reductions. This finding suggests that introducing a carbon tax may be insufficient unless rates are stringent enough to alter production, investment and energy‐use decisions. Mechanism analysis further indicates that carbon pricing supports decarbonisation by encouraging a shift from fossil fuels towards renewable energy. Its effectiveness has strengthened since the Paris Agreement, particularly for emissions trading systems. The findings are robust to alternative specifications and tests addressing endogeneity. Overall, the results demonstrate that carbon pricing can mitigate the environmental costs of financial development and facilitate the transition towards cleaner energy. They also highlight the importance of aligning the choice and design of carbon‐pricing instruments with countries' economic conditions, institutional capacities and climate‐policy objectives.

Economic growth has always remained a driving force for economic development. But in the relentless pursuit of development, the climate has paid a heavy price globally and turned into a crisis. To mitigate environmental damage, the path forward is a clear green growth, and this is the only way to prosper both responsibly and sustainably. However, the proper implementation of green production practices (GPP), which is considered one of the vital factors of green growth, is lagging behind. The adoption of GPP alone remains insufficient to add to the green growth. Hence, the current study focuses on the role of research and development (R&D) to reap the benefits of GPP for green growth. Following Sarkodie et al. the notion of green growth (GGR) by linking economic growth with a sustainable environment is examined for a panel of five of the world's most polluted countries using Panel Quantile Regression (PQR) technique during 2001–2020. The findings reveal that the independent effect of adopting GPP is not enough in obtaining GGR; rather, a negative impact of GPP is observed specifically in the early and last quantiles. However, the interaction effect of GPP with R&D offsets the negative impact of GPP and enhances GGR. Based on empirical outcomes, this study proposes a comprehensive policy framework for attaining sustainable development goals (SDGs), such as SDG 12 (sustainable production), SDG 13 (climate change), SDG 08 (decent economic growth), and SDG 09 (innovations).

We document the stylized facts relating to the contemporary business cycle in eleven oil-producing economies that account for over 65% of global oil production using a set of macroeconomic aggregates covering the period 1981 to 2021. In the context of Nigeria, a vector autoregression analysis is used to measure a one standard deviation oil price shock on time series such as trade balance, real GDP, inter alia. Our study is unique in that we compared four different detrending techniques, including Hodrick–Prescott (HP), Baxter-King, Christiano–Fitzgerald, and Butterworth filters. This is a departure from the conventional method of relying on the HP filter, which has been known to have limitations, particularly in the context of oil-producing economies. Our findings indicate that the selected oil-producing economies with countercyclical inflation patterns suggest that supply shocks drive the business cycles. Conversely, the oil-producing economies with inflation in sync (procyclical) with the business cycle suggest that demand shocks may be the primary driver of business cycle variations. Additionally, our study shows that oil price innovations lead to higher inflation in Nigeria.

This article is an attempt to provide a critical review of the present process of agricultural marketing in India in the wake of the recent discontent amongst the farmers that took place with the passing of the three controversial farm laws in September 2020 and giving respite to the agrarian community of the country by repealing of these new laws in November 2021. The old agricultural system of India needs to be changed. The three farm laws that were passed were of the intention to modernize the Indian agricultural market by encouraging investment and increasing competition. However, there was a country-wide protest from the farmers as they were sceptical that these laws would ultimately withdraw or reduce the security net provided by the states and put them in a vulnerable position. The present review takes a deeper dig into the present agricultural marketing situation of India in the context of the new farm laws and tries to critically evaluate the situation. JEL Classification: Q13 Q15 Q18

This research investigates corporate governance (CG) norms in Bangladesh, a developing nation. This study assesses the codes’ key aspects and how they have evolved since the first code was released in 2006. This analysis shows that BSEC changed its recommendations from voluntary to mandatory in the subsequent revisions in 2012 and 2018. The modified versions increased board independence compared to the original code, although it is still lower than in some other emerging nations. Recent changes to the rules include conditions on the nomination and remuneration committees, along with some other amendments. However, critical governance components, such as choosing an independent board member as chair, improving board independence, and assuring gender diversity, could be implemented in future code development. It is believed that investors would be more interested in Bangladesh’s capital market if the policymakers could make the proposed modifications in accordance with the distinctive institutional features of an emerging economy.

This study examines the effects of an unfavorable political event or environmental hostility, namely, a blockade affecting international tourist inflows, and how tourism market diversification (TMD) could mitigate the adverse effects in the case of Qatar. To quantify these effects, we adopted a standard tourism-demand model and augmented it with a Herfindahl index (HI) for the geographical diversification of tourism exports, a dummy variable for the blockade, and an interaction variable. We further analyzed the tourist inflows from various regions using regional dummies and their interaction terms to capture the different impacts of the blockade on Qatar’s inbound tourists from 46 source countries between 2006 and 2019. This study applied a panel-based differenced system-generalized method-of-moments estimation to reveal several interesting findings. First, there was a significant positive individual effect of TMD on inbound tourism. Second, during the blockade, Qatar witnessed growing tourist inflows from Asia and Australasia, the Americas, and Europe. However, the incident inevitably placed severe constraints on some tourist flows to Qatar, primarily from Middle Eastern and African countries. Moreover, although the HI has a positive impact on tourism growth, our study revealed that the interaction terms between the HI and the blockade are only statistically significant in some cases, implying that a diversification strategy cannot completely mitigate the harmful effects of a blockade on tourism due to the severity of blockade effect. Nevertheless, a TMD strategy appears to be successful at the individual level.