Ghulam Yahya Khan

The development of fiscal ability remains essential under fiscal decentralization models. The operational power to handle public funds efficiently allows municipalities to meet local requirements while developing the regions effectively. Regional economic development receives stronger preferential treatment from local governments because their strong fiscal capacity allows active involvement. The study conducted how fiscal capabilities at the regional level influence economic development convergence in all of Indonesia's 30 provinces. We use conditional beta convergence tests to analyze the Inclusive Economic Development Index given its major parameter of financial decentralization levels and local autonomy powers alongside revenue performance quality and both direct and indirect budget allocations. Results showed distinct convergence patterns exist among all Indonesian provinces. The findings showed substantial improvements toward achieving economic development that includes all sectors as well as the reduction of regional disparities. The study revealed that fiscal capacity especially decentralization levels and direct spending distribution determine economic convergence results between provinces. The research adds comprehension to the strategies of utilizing fiscal policies to promote sustainable economic development with equality across regions at the regional level.

Purpose: To analyze the relationship between monetary policy and economic growth in Pakistan, study had used time-series data from 1975 to 2023. Design/Methodology/Approach: Employing an empirical approach, the study applies the Error Correction Model (ECM) and the Autoregressive Distributed Lag (ARDL) framework to investigate variable interactions. To capture volatility within growth-rate of GDP-per-capita (GDPPC), study further applies the “Auto Regressive Conditional Heteroscedasticity (ARCH) and Generalized Auto Regressive Conditional Heteroscedasticity (GARCH) models”. Findings: These results implied that inflation, money supply, and overall reserve-ratio exert a negative and significant impact on financial development, whereas monetary policy instruments, specifically interest rates and exchange rates, demonstrated a positive and significant effect on economic performance. Results from ARCH and GARCH analysis revealed a persistent long-run volatility effects in Pakistan’s GDPPC growth rate. Implications/Originality/Value: So, it is concluded that money supply policies can be revised and instead of increasing money supply solely, the focus can be shifted towards increasing interest-rate and exchange-rate which, in most cases, yield positive results while money supply, especially in this study, has negative sign pointing towards negative economic growth unsupportive for sustainable growth and development.

The present study investigates the dynamic relationships between non-renewable energy production from fossil resources, healthcare expenditures, and carbon dioxide (CO₂) emissions in the OECD region. This study has used the balanced panel of 38 OECD countries spanning from 2008 to 2018. This study is employing panel vector auto-regression econometric approach based on generalized method of moment. The study reveals the following interesting outcomes: The response of energy production from fossil resources to healthcare expenditures is positive; energy production has a positive unidirectional causal relationship with CO₂ emissions, whereas CO₂ emissions have insignificant relation with energy production. There is a positive bidirectional relationship between healthcare spending and CO₂ emissions, but there is no evidence that healthcare spending causes energy production. Furthermore, the outcomes present the essential policy consequences.

The linkage between renewable energy resources and environmental influences on economic growth among selected Asian economies play a vital role in sustainable economic development. This study encompasses the panel data sets for eight selected Asian countries, and the period starts from 1990 to 2018. This research relies on the panel vector error correction model (PVECM) for data estimation. The overall findings indicate that biomass, geothermal, and wind power sources of energy have a positive and significant impact on the economic advancement of Asian economies. Besides that, as opposed to the other two renewable energy sources, windpower has a greater impact on economic development. Furthermore, the empirical findings of current research have significant implications towards selected Asian countries’ energy policy related to both private and public sector enterprises as it helps in identifying the industrial sectors which have greater contribution towards the economy and their energy requirements in long term.

South Asia is a hub for encompassing air contamination, with 37 of the top tiers of the 40 most contaminated urban communities around the globe (IQAIR, 2020). From this perspective, this research aims to explore the validity of the Environmental Kuznets Curve while controlling for the impacts of technological innovation and energy consumption on the sustainable economic growth–environmental pollution nexus in the backdrop of South Asian economies by using panel dataset from 1998 to 2018. Therefore, this analysis adopts a fully modified ordinary least square (FMOLS) approach for examination, which affirms the EKC hypothesis existence, suggesting that the environment in South Asia is deteriorating while technological innovations have moderated the impact. Moreover, the empirical findings indicate that energy consumption as well as technological innovations both have a significant positive impact on the CO₂ emanations, which harms biodiversity.

This study aims to focus on Pakistan’s fertilizer industry and investigate the causal relationships among environmental consciousness (ECO), green creativity (GCR), green mindfulness (GMD), and energy efficiency (EE), which are all essential mechanisms as well as circumstances that control the situation in well-developed manners. This study consists of a sample regarding four hundred and four (404) employees from seven companies by using partial least squares (PLS) and structural equation modeling (SEM) approach. The results indicate that environmental consciousness significantly and positively affects employee energy efficiency directly and indirectly in the presence of green creativity as a mediator. Moreover, the moderating effect of green mindfulness persisted only in the association between energy efficiency and green creativity. In the appropriate literature, this empirical investigation is the first of its kind which does not only provide an organized way to examine the effects of environmental consciousness on energy efficiency but also recommend the most effective means for employees and associations to embrace the best policies. This study has important policy implications for promoting clean production, clean environment, and sustainable development for developed and developing economies.

Nelson and Kang (1984) showed that regression of a unit root time-series on a linear time trend provides significant results even if there is no forecast able association amongst the path of the time-series and linear trend. Using Monte Carlo simulations, this paper shows that phenomenon also exists in stationary time series and regression of a stationary time series on linear trend also produces significant results without the existence of any predictable relationship between the time -series and linear trend. The spurious trend is observable in most of the moderate sample sizes and sometimes in sufficiently large samples of size over 500 observations. The implications of these findings for unit root test procedures are discussed briefly.