Nexus between foreign direct investment, trade openness, and carbon emissions: fresh insights using innovative methodologies

References

• Ali, W., Gohar, R., Chang, B. H., & Wong, W. K. (2022). Revisiting the impacts of globalization, renewable energy consumption, and economic growth on environmental quality in South Asia. Advances in Decision Sciences, 26(3), 78–98.
   Google Scholar
• Baek, J., & Koo, W. W. 2008. A dynamic approach to the FDI-environment nexus: The case of China and India (vol.13). Social Science Electronic Publishing.
   Google Scholar
• Balsalobre‐Lorente, D., Driha, O. M., Halkos, G., & Mishra, S. (2022). Influence of growth and urbanization on CO2 emissions: The moderating effect of foreign direct investment on energy use in BRICS. Sustainable Development, 30(1), 227–240. https://doi.org/10.1002/sd.2240
   Web of Science ®Google Scholar
• Bashir, M. F., Pan, Y., Shahbaz, M., & Ghosh, S. (2023a). How energy transition and environmental innovation ensure environmental sustainability? Contextual evidence from top-10 manufacturing countries. Renewable Energy, 204, 697–709. https://doi.org/10.1016/j.renene.2023.01.049
   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(32), 48210–48232. https://doi.org/10.1007/s11356-022-20782-1
   PubMed Web of Science ®Google Scholar
• Bashir, M. F., Sadiq, M., Talbi, B., Shahzad, L., & Adnan Bashir, M. (2022a). An outlook on the development of renewable energy, policy measures to reshape the current energy mix, and how to achieve sustainable economic growth in the post COVID-19 era. Environmental Science and Pollution Research, 29(29), 43636–43647. https://doi.org/10.1007/s11356-022-20010-w
   PubMed Web of Science ®Google Scholar
• Behera, S. R., & Dash, D. P. 2017. The effect of urbanization, energy consumption, and foreign direct investment on the carbon dioxide emission in the SSEA (South and Southeast Asia) region. Renewable and Sustainable Energy Reviews, 70(4), 96–106. https://doi.org/10.1016/j.rser.2016.11.201
   Google Scholar
• Chang, B. H. (2020). Oil prices and E7 stock prices: An asymmetric evidence using multiple threshold nonlinear ARDL model. Environmental Science and Pollution Research International, 27(35), 44183–44194. https://doi.org/10.1007/s11356-020-10277-2
   PubMed Web of Science ®Google Scholar
• Chang, B. H., Rajput, S. K. O., Bhutto, N. A., & Abro, Z. (2020a). Asymmetric effect of extreme changes in the exchange rate volatility on the US imports: Evidence from multiple threshold nonlinear autoregressive distributed lag model. Studies in Economics and Finance, 37(2), 293–309. https://doi.org/10.1108/SEF-03-2019-0122
   Web of Science ®Google Scholar
• Chang, B. H., Sharif, A., Aman, A., Suki, N. M., Salman, A., & Khan, S. A. R. (2020b). The asymmetric effects of oil price on sectoral Islamic stocks: New evidence from quantile-on-quantile regression approach. Resources Policy, 65, 101571. https://doi.org/10.1016/j.resourpol.2019.101571
   Web of Science ®Google Scholar
• Chang, B. H., Rajput, S. K. O., Ahmed, P., & Hayat, Z. (2020c). Does Gold Act as a Hedge or a safe haven? Evidence from Pakistan. The Pakistan Development Review, 59(1), 69–80. https://doi.org/10.30541/v59i1pp.69-80
   Google Scholar
• Chang, B. H., Derindag, O. F., Hacievliyagil, N., & Canakci, M. (2022a). Exchange rate response to economic policy uncertainty: Evidence beyond asymmetry. Humanities & Social Sciences Communications, 9(1), 358. https://doi.org/10.1057/s41599-022-01372-5
   PubMedGoogle Scholar
• Chang, B. H., Channa, K. A., Uche, E., Khalaf, O. I., & Ali, O. W. (2022b). Analyzing the impacts of terrorism on innovation activity: A cross country empirical study. Advances in Decision Sciences, 26(Special), 124–161.
   Google Scholar
• Chang, B. H., Auxilia, P. M., Kalra, A., Wong, W. K., & Uddin, M. A. (2023a). Greenhouse gas emissions and the rising effects of renewable energy consumption and climate risk development finance: Evidence from BRICS countries. Annals of Financial Economics, 2023, 2350007. https://doi.org/10.1142/S2010495223500070
   Google Scholar
• Chang, B. H., Gohar, R., Derindag, O. F., & Uche, E. (2023b). COVID-19, lockdown measures and their impact on food and healthcare prices: Empirical evidence using a dynamic ARDL model. Journal of Economic Studies, 50(5), 1008–1026. https://doi.org/10.1108/JES-12-2021-0627
   Web of Science ®Google Scholar
• Chen, Y., Wang, Z., & Zhong, Z. 2018. CO2 emissions, economic growth, renewable and nonrenewable energy production, and foreign trade in China. Renewable Energy, 131(2), 208–216. https://doi.org/10.1016/j.renene.2018.07.047
   Google Scholar
• Chen, F., Ahmad, S., Arshad, S., Ali, S., Rizwan, M., Saleem, M. H., Driha, O. M., & Balsalobre-Lorente, D. (2022). Towards achieving eco-efficiency in top 10 polluted countries: The role of green technology and natural resource rents. Gondwana Research, 110, 114–127. https://doi.org/10.1016/j.gr.2022.06.010
   Web of Science ®Google Scholar
• Derindag, O. F., Chang, B. H., Gohar, R., & Salman, A. (2022). Exchange rate effect on the household consumption in BRICST countries: Evidence from MATNARDL model. Journal of International Commerce, Economics and Policy, 13(02), 2250010. https://doi.org/10.1142/S1793993322500107
   Web of Science ®Google Scholar
• Derindag, O. F., Chang, B. H., Gohar, R., Wong, W. K., & Bhutto, N. A. (2023a). Food prices response to global and national factors: Evidence beyond asymmetry. Cogent Economics & Finance, 11(1), 2187128. https://doi.org/10.1080/23322039.2023.2187128
   Web of Science ®Google Scholar
• Derindag, O. F., Maydybura, A., Kalra, A., Wong, W. K., & Chang, B. H. (2023b). Carbon emissions and the rising effect of trade openness and foreign direct investment: Evidence from a threshold regression model. Heliyon, 9(7), e17448. https://doi.org/10.1016/j.heliyon.2023.e17448
   PubMed Web of Science ®Google Scholar
• Dogan, E., & Inglesi-Lotz, R. 2020.The impact of economic structure on the Environmental Kuznets Curve (EKC) hypothesis: Evidence from European countries. Environmental Science and Pollution Research, 27(3), 12717–12724. https://doi.org/10.1007/s11356-020-07878-2
   PubMedGoogle Scholar
• Dogan, E., Taspinar, N., & Gokmenoglu, K. K. 2019.Determinants of ecological footprint in MINT countries. Energy and Environment, 30(6), 1065–1086. https://doi.org/10.1177/0958305X19834279
   Web of Science ®Google Scholar
• Foss, J., & Laursen, K. 2005.Performance pay delegation and multitasking under uncertainty and innovativeness: An Empirical investigation. Journal of Economic Behavior and Organization, 58(2), 246–276. https://doi.org/10.1016/j.jebo.2004.03.018
   Web of Science ®Google Scholar
• Gohar, R., Bagadeem, S., Chang, B. H., & Zong, M. (2022a). Do the income and price changes affect consumption in the emerging 7 countries? Empirical evidence using quantile ARDL model. Annals of Financial Economics, 17(04), 2250024. https://doi.org/10.1142/S2010495222500245
   Google Scholar
• Gohar, R., Bhatty, K., Osman, M., Wong, W. K., & Chang, B. H. (2022b). Oil prices and sectorial stock indices of Pakistan: Empirical evidence using bootstrap ARDL model. Advances in Decision Sciences, 26(4), 1–27.
   Google Scholar
• Gohar, R., Chang, B. H., Derindag, O. F., & Abro, Z. (2022c). Nexus between consumption, income, and price changes: Asymmetric Evidence from NARDL Model. ETIKONOMI, 21(2), 213–228. https://doi.org/10.15408/etk.v21i2.23339
   Web of Science ®Google Scholar
• Gohar, R., Osman, M., Uche, E., Auxilia, P. M., & Chang, B. H. (2022d). The economic policy uncertainty extreme dynamics and its effect on the exchange rate. Global Economy Journal, 22(03), 2350006. https://doi.org/10.1142/S2194565923500069
   Web of Science ®Google Scholar
• Gohar, R., Salman, A., Uche, E., Derindag, O. F., & Chang, B. H. (2023a). Does US infectious disease equity market volatility index predict G7 stock returns? Evidence beyond symmetry. Annals of Financial Economics, 18(02), 2250028. https://doi.org/10.1142/S2010495222500282
   Web of Science ®Google Scholar
• Gohar, R., Chang, B. H., Uche, E., Uddin, M. A., & Kalra, A. (2023b). Nexus between energy consumption, climate risk development finance and GHG emissions. International Journal of Financial Engineering, 10(03), 251. https://doi.org/10.1142/S2424786323500251
   Web of Science ®Google Scholar
• Gong, X., Chang, B. H., Chen, X., & Zhong, K. (2023). Asymmetric effects of exchange rates on energy Demand in E7 Countries: New evidence from multiple thresholds nonlinear ARDL Model. Romanian Journal of Economic Forecasting, 26(2), 125.
   Web of Science ®Google Scholar
• Hashmi, S. M., & Chang, B. H. (2021). Asymmetric effect of macroeconomic variables on the emerging stock indices: A quantile ARDL approach. International Journal of Finance & Economics, 28(1), 1006–1024. https://doi.org/10.1002/ijfe.2461
   Web of Science ®Google Scholar
• Hashmi, S. M., Chang, B. H., & Shahbaz, M. (2021a). Asymmetric effect of exchange rate volatility on India’s cross‐border trade: Evidence from global financial crisis and multiple threshold nonlinear autoregressive distributed lag model. Australian Economic Papers, 60(1), 64–97. https://doi.org/10.1111/1467-8454.12194
   Web of Science ®Google Scholar
• Hashmi, S. M., Chang, B. H., & Rong, L. (2021b). Asymmetric effect of COVID-19 pandemic on E7 stock indices: Evidence from quantile-on-quantile regression approach. Research in International Business and Finance, 58, 101485. https://doi.org/10.1016/j.ribaf.2021.101485
   PubMed Web of Science ®Google Scholar
• Hashmi, S. M., Chang, B. H., Huang, L., & Uche, E. (2022). Revisiting the relationship between oil prices, exchange rate, and stock prices: An application of quantile ARDL model. Resources Policy, 75, 102543. https://doi.org/10.1016/j.resourpol.2021.102543
   Web of Science ®Google Scholar
• Haug, A. A., & Ucal, M. 2019. The role of trade and FDI for CO2 emissions in Turkey: Nonlinear relationships. Energy Economics, 81(6), 297–307. https://doi.org/10.1016/j.eneco.2019.04.006
   Google Scholar
• Huang, R., Chen, G., Lv, G., Malik, A., Shi, X., & Xie, X. 2020. The effect of technology spillover on CO2 emissions embodied in China-Australia trade. Energy Policy, 144, 111544. https://doi.org/10.1016/j.enpol.2020.111544
   Web of Science ®Google Scholar
• Imane, E., Chang, B. H., Elsherazy, T. A., Wong, W. K., & Uddin, M. A. (2023). The external exchange rate volatility influence on the trade flows: Evidence from Nonlinear ARDL Model. Advances in Decision Sciences, 27(2), 75–98.
   Google Scholar
• Jiang, T., Yu, Y., Jahanger, A., & Balsalobre-Lorente, D. (2022). Structural emissions reduction of China's power and heating industry under the goal of " double carbon": A perspective from input-output analysis. Sustainable Production and Consumption, 31, 346–356. https://doi.org/10.1016/j.spc.2022.03.003
   Web of Science ®Google Scholar
• José, P. P. 2007. A non-monotonic relationship between FDI and trade. Economics Letters. 95(3), 369–373.
   Web of Science ®Google Scholar
• Lei, J., Lin, S., Khan, M. R., Xie, S., Sadiq, M., Ali, R., … Bashir M. F., Shahzad, L., Eldin, S. M., & Amin, A. H. (2022). Research trends of board characteristics and firms’ environmental performance: Research directions and agenda. Sustainability, 14(21), 14296. https://doi.org/10.3390/su142114296
   Web of Science ®Google Scholar
• Li, Z. C., & Wen, X. T. 2013. The empirical analysis of the influence of foreign direct investment on the export trade structure-taking Jiangsu province as an example. Technoeconomics and Management Research.
   Google Scholar
• Li, Z. H., & Liu H. H., 2012. Are there threshold effects of FDI on the environment? Evidence from 220 cities in China. Finance and Trade Economics, 9, 101–108.
   Google Scholar
• Lu, M., Chang, B. H., Salman, A., Razzaq, M. G. A., & Uddin, M. A. (2023). Time varying connectedness between foreign exchange markets and crude oil futures prices. Resources Policy, 86, 104128. https://doi.org/10.1016/j.resourpol.2023.104128
   Web of Science ®Google Scholar
• Ma, B., Wang, Y., Zhou, Z., Lai, Y., Zhou, Z., & Bashir, M. F. (2022). Can controlling family involvement promote firms to fulfill environmental responsibilities?—Evidence from China. Managerial and Decision Economics, 43(2), 569–592. https://doi.org/10.1002/mde.3403
   Web of Science ®Google Scholar
• Maydybura, A., Gohar, R., Salman, A., Wong, W. K., & Chang, B. H. (2023). The asymmetric effect of the extreme changes in the economic policy uncertainty on the exchange rates: evidence from emerging seven countries. Annals of Financial Economics, 18(02), 2250031. https://doi.org/10.1142/S2010495222500312
   Web of Science ®Google Scholar
• Metulini, R., Riccaboni, M., Sgrignoli, P., & Zhu, Z. (2017). The indirect effects of FDI on trade: A network perspective (working papers).
   Google Scholar
• Noman, M., Maydybura, A., Channa, K. A., Wong, W. K., & Chang, B. H. (2023). Impact of cashless bank payments on economic growth: Evidence from G7 countries. Advances in Decision Sciences, 27(1), 1–22.
   Google Scholar
• Pao, H. T., & Tsai, C. M. 2011.Multivariate Granger causality between CO2 emissions, energy consumption, FDI (foreign direct investment) and GDP (gross domestic product): Evidence from a panel of BRIC (Brazil, Russian Federation, India, and China) countries. Energy, 36(1), 685–693. https://doi.org/10.1016/j.energy.2010.09.041
   PubMed Web of Science ®Google Scholar
• Peng, B., Yang, B. H., Zhu, L., & C., Chang. (2022). Exchange rate and energy demand in G7 countries: Fresh insights from Quantile ARDL model. Energy Strategy Reviews, 44, 100986. https://doi.org/10.1016/j.esr.2022.100986
   Web of Science ®Google Scholar
• Rafei, M., Esmaeili, P., & Balsalobre-Lorente, D. (2022). A step towards environmental mitigation: How do economic complexity and natural resources matter? Focusing on different institutional quality level countries. Resources Policy, 78, 102848. https://doi.org/10.1016/j.resourpol.2022.102848
   Web of Science ®Google Scholar
• Ren, S, G., Yuan, B., Ma, X., & Chen, X. 2014. The impact of international trade on China’s industrial carbon emissions since its entry into WTO. Energy Policy, 69, 624–634. https://doi.org/10.1016/j.enpol.2014.02.032
   Web of Science ®Google Scholar
• Ren, S., Yuan, B., Ma, X., & Chen, X. 2014. International trade, FDI (foreign direct investment) and embodied CO2 emissions: A case study of China’s industrial sectors. China Economic Review, 28(C), 123–134. https://doi.org/10.1016/j.chieco.2014.01.003
   Google Scholar
• Salman, A., Razzaq, M. G. A., Chang, B. H., Wong, W. K., & Uddin, M. A. (2023a). Carbon emissions and its relationship with foreign trade openness and foreign direct investment. Journal of International Commerce, Economics and Policy, 14(03) https://doi.org/10.1142/S1793993323500230
   Google Scholar
• Salman, A., Chang, B. H., Abdul Razzaq, M. G., Wong, W. K., & Uddin, M. A. (2023b). The emerging stock markets and their asymmetric response to infectious disease equity market volatility (ID-EMV) index. Annals of Financial Economics, 2023, 2350008. https://doi.org/10.1142/S2010495223500082
   Google Scholar
• Shahbaz, M., Bashir, M. F., Bashir, M. A., & Shahzad, L. (2021). A bibliometric analysis and systematic literature review of tourism-environmental degradation nexus. Environmental Science and Pollution Research, 28(41), 58241–58257. https://doi.org/10.1007/s11356-021-14798-2
   PubMed Web of Science ®Google Scholar
• Shahbaz, M., Gozgor, G., Adom, P. K., & Hammoudeh, S. 2019. The technical decomposition of carbon emissions and the concerns about FDI and trade openness effects in the United States. International Economics, 159, 56–73. https://doi.org/10.1016/j.inteco.2019.05.001
   Google Scholar
• Sinha, A., Balsalobre-Lorente, D., Zafar, M. W., & Saleem, M. M. (2022). Analyzing global inequality in access to energy: Developing policy framework by inequality decomposition. Journal of environmental management, 304, 114299. https://doi.org/10.1016/j.jenvman.2021.114299
   PubMed Web of Science ®Google Scholar
• Sulaman, M., Long, X, L., Muhammad, S., & Lamini, D. 2020. Effect of urbanization and international trade on CO2 emissions across 65 belt and road initiative countries. Energy, 196, 117102. https://doi.org/10.1016/j.energy.2020.117102
   Web of Science ®Google Scholar
• Syed, Q. R., Malik, W. S., & Chang, B. H. (2019). Volatility spillover effect of federal Reserve’S balance sheet on the financial and goods markets of Indo-Pak Region. Annals of Financial Economics, 14(03), 1950015. https://doi.org/10.1142/S2010495219500155
   Google Scholar
• Uche, E., Chang, B. H., & Effiom, L. (2022a). Household consumption and exchange rate extreme dynamics: Multiple asymmetric threshold non‐linear autoregressive distributed lag model perspective. International Journal of Finance & Economics, 28(3), 3437–3450. https://doi.org/10.1002/ijfe.2601
   Web of Science ®Google Scholar
• Uche, E., Chang, B. H., & Gohar, R. (2022b). Consumption optimization in G7 countries: Evidence of heterogeneous asymmetry in income and price differentials. Journal of International Commerce, Economics and Policy, 13(01), 2250002. https://doi.org/10.1142/S1793993322500028
   Web of Science ®Google Scholar
• Wang, X., Chang, B. H., Uche, E., & Zhao, Q. (2022). The asymmetric effect of income and price changes on the consumption expenditures: Evidence from G7 countries using nonlinear bounds testing approach. Portuguese Economic Journal, 2022, 1–19.
   Google Scholar
• Xu, Y. D. 2014. Foreign direct investment, trade openness, and CO2 emissions: Taking Shandong province as an example. Advanced Materials Research, 1073, 2691–2699. https://doi.org/10.4028/www.scientific.net/AMR.1073-1076.2691
   Google Scholar
• Yunfeng, Y., & Laike, Y. (2010). China’s foreign trade and climate change: A case study of CO2 emissions. Energy Policy, 38(1), 350–356.
   Google Scholar
• Zhu, H., Duan, L., Guo, Y., & Yu, K. (2016). The effects of FDI, economic growth and energy consumption on carbon emissions in ASEAN-5: Evidence from panel quantile regression. Economic Modelling, 58, 237–248. https://doi.org/10.1016/j.econmod.2016.05.003
   Web of Science ®Google Scholar