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Khurram Shehzad (PhD) is affiliated with the School of Economics and Management, Southeast University, Nanjing, China. His research interests include tourism economics, financial economics, environmental economics, behavioral economics, sustainability, financial risk management, financial institutions, and markets. He has published various SSCI, SCI, EI, and international papers in renowned journals. He is working on various research projects based on "Belt and Road Initiative" economies and challenges and prospects in diverse aspects.
The Belt and Road Initiative removes regional barriers and brings communities closer together. In addition, ICT and financial innovation have helped transform the world into a big village and promoted economic growth. The study assessed the dynamic impact of ICT, economic globalization, and financial innovation on China’s economic growth. The study used quarterly data from 2000 to 2019 and used the ARDL model to determine long-term and short-term consequences. The results of the study show that ICT has a positive affiliation with economic growth in China. In addition, financial innovation has also shown a direct impact on economic growth. The study shows that China’s One Belt One Road project (economic globalization) has a great positive impact on its GDP. The consequences of the causality test discovered the significant unidirectional causality running from ICT and economic globalization (ECGI) to GDP. The study recommends mandatory policies related to ICT, financial innovation, and economic globalization to achieve long-term and sustainable development in China.
Khurram Shehzad; Umer Zaman; Ana Ercília José; Emrah Koçak; Paulo Ferreira. An Officious Impact of Financial Innovations and ICT on Economic Evolution in China: Revealing the Substantial Role of BRI. Sustainability 2021, 13, 8962 .
AMA StyleKhurram Shehzad, Umer Zaman, Ana Ercília José, Emrah Koçak, Paulo Ferreira. An Officious Impact of Financial Innovations and ICT on Economic Evolution in China: Revealing the Substantial Role of BRI. Sustainability. 2021; 13 (16):8962.
Chicago/Turabian StyleKhurram Shehzad; Umer Zaman; Ana Ercília José; Emrah Koçak; Paulo Ferreira. 2021. "An Officious Impact of Financial Innovations and ICT on Economic Evolution in China: Revealing the Substantial Role of BRI." Sustainability 13, no. 16: 8962.
This study investigates the linkage between tourism development, technological innovation, urbanization and environmental degradation across 30 provinces of China. Based on data from 2001 to 2018, the study used an advanced economic methodology for the long-run estimate, the Augmented Mean Group (AMG) estimator, which accounts for heterogeneity in slope parameters and dependencies across countries. The empirical results show that tourism development degrades environmental quality, while technological innovation mitigates carbon emissions. Further, findings show that urbanization increases carbon emissions, while an inverted U-shaped relationship exists between economic growth and environmental degradation, implying the existence of EKC in China. Further, the Dumitrescu–Hurlin panel causality test shows that any policy aimed at tourism development or technological innovation would substantially contribute to environmental degradation, but not the other way round.
Zhang Chenghu; Muhammad Arif; Khurram Shehzad; Mahmood Ahmad; Judit Oláh. Modeling the Dynamic Linkage between Tourism Development, Technological Innovation, Urbanization and Environmental Quality: Provincial Data Analysis of China. International Journal of Environmental Research and Public Health 2021, 18, 8456 .
AMA StyleZhang Chenghu, Muhammad Arif, Khurram Shehzad, Mahmood Ahmad, Judit Oláh. Modeling the Dynamic Linkage between Tourism Development, Technological Innovation, Urbanization and Environmental Quality: Provincial Data Analysis of China. International Journal of Environmental Research and Public Health. 2021; 18 (16):8456.
Chicago/Turabian StyleZhang Chenghu; Muhammad Arif; Khurram Shehzad; Mahmood Ahmad; Judit Oláh. 2021. "Modeling the Dynamic Linkage between Tourism Development, Technological Innovation, Urbanization and Environmental Quality: Provincial Data Analysis of China." International Journal of Environmental Research and Public Health 18, no. 16: 8456.
The novel coronavirus (COVID-19) has tremendously oscillated the global financial markets. Consequently, investors feel pressured to find safe-haven investments during the pandemic crisis. Numerous studies have evaluated bitcoin's safe-haven properties during the COVID-19; however, the present study considered gold as a potential safe-haven for investors of renowned stock markets of Asia, Europe, and the US. The present investigation computed the ratio of gold to bitcoin (Gold_Bitcoin) and compared the safe-haven properties of gold in contrast to bitcoin. The present study analysed the Morlet Wavelet approach and found that most of the time during the COVID-19, gold investments proved to be more beneficial than bitcoin. Remarkably, the findings highlighted that the Gold_Bitcoin ratio increased in higher and lower frequencies combined with CAC40. In the long run, the return on investments in gold increased in contrast to bitcoin returns pooled with DAX30. Also, the Gold_Bitcoin ratio of the US stock market increased during the one-week and one-month cycles of January and August. Likewise, the Hang Seng Index caused the Gold_Bitcoin ratio to rise at a much higher frequency (i.e., the second half of January, the first half of February and April, and the first half of June and August), whereas IBEX35 surged Gold_Bitcoin at a lower frequency (i.e., during January, February, and August). In higher frequency bands, LSE increased the Gold_Bitcoin ratio (i.e., in February and March); nevertheless, Gold_Bitcoin showed a positive connection with FTSEMIB in the one-to-two month's frequency band (i.e., throughout January, February, and August). Interestingly, the returns on the Gold_Bitcoin ratio increased in the SSEC stock market in the high-frequency band (i.e., during March, May, and July 2020).
Khurram Shehzad; Faik Bilgili; Umer Zaman; Emrah Kocak; Sevda Kuskaya. Is gold favourable than bitcoin during the COVID-19 outbreak? Comparative analysis through wavelet approach. Resources Policy 2021, 73, 102163 -102163.
AMA StyleKhurram Shehzad, Faik Bilgili, Umer Zaman, Emrah Kocak, Sevda Kuskaya. Is gold favourable than bitcoin during the COVID-19 outbreak? Comparative analysis through wavelet approach. Resources Policy. 2021; 73 ():102163-102163.
Chicago/Turabian StyleKhurram Shehzad; Faik Bilgili; Umer Zaman; Emrah Kocak; Sevda Kuskaya. 2021. "Is gold favourable than bitcoin during the COVID-19 outbreak? Comparative analysis through wavelet approach." Resources Policy 73, no. : 102163-102163.
The development of information and communication technologies (ICT) positively contributes to economic growth; however, their environmental implications cannot be ignored. Therefore, it is imperative to investigate the impact of ICT, energy consumption, economic growth, and financial development on the air quality in Pakistan. Drawing on the data set from 1976 to 2018, we employed Nonlinear Autoregressive Distributed Lag model. The results revealed that there is a substantial presence of asymmetric cointegration between ICT and CO2 emissions. The empirical results unfold that positive shocks in ICT negatively affect CO2 emissions, implying that an increase in ICT brings a decrease in CO2 emission; negative shocks in ICT publicized a negative association with CO2 emissions, inferring that a decrease in ICT will bring an upsurge in CO2 emissions. Moreover, on the dark side, energy consumption and financial development degrade the environmental quality by increasing the CO2 emissions in Pakistan. Additionally, the existence of the Environmental Kuznets Curve hypothesis in Pakistan was confirmed. Our key findings emphasize the importance of ICT development and several environmental implications in attaining the sustainable development goal.
Khurram Shehzad; Umer Zaman; Mahmood Ahmad; Xiaoxing Liu. Asymmetric impact of information and communication technologies on environmental quality: analyzing the role of financial development and energy consumption. Environment, Development and Sustainability 2021, 1 -20.
AMA StyleKhurram Shehzad, Umer Zaman, Mahmood Ahmad, Xiaoxing Liu. Asymmetric impact of information and communication technologies on environmental quality: analyzing the role of financial development and energy consumption. Environment, Development and Sustainability. 2021; ():1-20.
Chicago/Turabian StyleKhurram Shehzad; Umer Zaman; Mahmood Ahmad; Xiaoxing Liu. 2021. "Asymmetric impact of information and communication technologies on environmental quality: analyzing the role of financial development and energy consumption." Environment, Development and Sustainability , no. : 1-20.
COVID-19 has significantly affected the financial and commodity markets. The purpose of this investigation is to understand the impact of the COVID-19 crisis on Dow Jones and West Texas Intermediate (WTI) oil returns in relation to other crises using the Exponential Generalized Autoregressive Conditional Heteroskedasticity (EGARCH) model. The results indicate that COVID-19 and the accompanying lockdown have adversely impacted both yields and that the impact on oil prices is more significant than on the Dow Jones index. The variance and squared residuals of oil prices and the Dow Jones reached their highest historical levels during the COVID-19 outbreak, even higher than during the global financial crisis, and especially the VaR of both markets reached their historical peak points during the COVID-19 era. The variance of WTI during COVID-19 is higher than that of DJI, as was also the case during the financial crisis. These findings confirm that COVID-19 has negatively impacted investors’ ability to determine optimal portfolios and thus the sustainability of financial and energy markets more than the global financial crisis of 2007–2009. We, therefore, suggest that policy changes are needed to maintain financial sustainability and help investors deal with future financial and other crises.
Khurram Shehzad; Umer Zaman; Xiaoxing Liu; Jarosław Górecki; Carlo Pugnetti. Examining the Asymmetric Impact of COVID-19 Pandemic and Global Financial Crisis on Dow Jones and Oil Price Shock. Sustainability 2021, 13, 4688 .
AMA StyleKhurram Shehzad, Umer Zaman, Xiaoxing Liu, Jarosław Górecki, Carlo Pugnetti. Examining the Asymmetric Impact of COVID-19 Pandemic and Global Financial Crisis on Dow Jones and Oil Price Shock. Sustainability. 2021; 13 (9):4688.
Chicago/Turabian StyleKhurram Shehzad; Umer Zaman; Xiaoxing Liu; Jarosław Górecki; Carlo Pugnetti. 2021. "Examining the Asymmetric Impact of COVID-19 Pandemic and Global Financial Crisis on Dow Jones and Oil Price Shock." Sustainability 13, no. 9: 4688.
China’s rapid expansion of digital financial inclusion in the last few years has dramatically augmented the accessibility and affordability of financial services, predominantly serving formerly financially excluded people, and positively contributes to higher economic growth. Despite the importance of digital financial inclusion in promoting economic growth, empirical evidence is relatively thin. Moreover, none of the studies has considered human capital in the nexus. Therefore, this study examines the impact of digital financial inclusion and human capital on China’s provincial economic growth. Unlike previous studies, this study uses the new proxy of digital financial inclusion based on breadth of coverage, depth of usage, and digitalization level. The empirical findings show that digital financial inclusion and human capital significantly affect China’s provincial economic growth. Based on this study’s findings, we recommend investment in human capital development and, at the same time, upgrading digital financial inclusion to attain higher economic growth.
Mahmood Ahmad; Abdul Majeed; Muhammad Asif Khan; Muhammad Sohaib; Khurram Shehzad. Digital financial inclusion and economic growth: provincial data analysis of China. China Economic Journal 2021, 1 -20.
AMA StyleMahmood Ahmad, Abdul Majeed, Muhammad Asif Khan, Muhammad Sohaib, Khurram Shehzad. Digital financial inclusion and economic growth: provincial data analysis of China. China Economic Journal. 2021; ():1-20.
Chicago/Turabian StyleMahmood Ahmad; Abdul Majeed; Muhammad Asif Khan; Muhammad Sohaib; Khurram Shehzad. 2021. "Digital financial inclusion and economic growth: provincial data analysis of China." China Economic Journal , no. : 1-20.
The outbreak of the COVID-19 pandemic has adversely affected all aspects of life and poses a severe threat to human health and economic development. New York City administration enacted a strict isolation decision at the end of March 2020 to tackle the COVID-19, creating a unique opportunity to assess air quality. Therefore, we investigated the impact of the lockdown on air quality in New York City. We evaluated the air pollutants concentration, i.e., PM2.5, CO, NO2, SO2, and O3, during the lockdown and compared them with pre-COVID-19. We explored the first phase of lockdown through a spatial approach, then formulated the air quality index (AQI) of each pollutant before and during the lockdown. Our findings revealed that (1) there was a significant decline in the concentration level of PM2.5 from 10.3 to 4.0 μg/m3 during phase one of lockdown. (2) NO2 concentrations have been decreased by up to 52% in 1st phase of lockdown. (3) O3 concentration has been increased by 44.4%. (4) Brooklyn, Manhattan, Queens, and Staten Island County encountered 18.75%, 55.62%, 47.14%, and 47% diminution in AQI due to lockdown as compared to 2018, respectively. Our key findings can provide critical environmental implications for policymakers, researchers, academics, and the US government.
Khurram Shehzad; Faik Bilgili; Emrah Koçak; Liu Xiaoxing; Mahmood Ahmad. COVID-19 outbreak, lockdown, and air quality: fresh insights from New York City. Environmental Science and Pollution Research 2021, 28, 41149 -41161.
AMA StyleKhurram Shehzad, Faik Bilgili, Emrah Koçak, Liu Xiaoxing, Mahmood Ahmad. COVID-19 outbreak, lockdown, and air quality: fresh insights from New York City. Environmental Science and Pollution Research. 2021; 28 (30):41149-41161.
Chicago/Turabian StyleKhurram Shehzad; Faik Bilgili; Emrah Koçak; Liu Xiaoxing; Mahmood Ahmad. 2021. "COVID-19 outbreak, lockdown, and air quality: fresh insights from New York City." Environmental Science and Pollution Research 28, no. 30: 41149-41161.
The G7 nations, despite flourishing economically, have not succeeded in ensuring environmental welfare in tandem. However, these nations cannot sustain their economic growth achievements without simultaneously safeguarding their environmental attributes. In this regard, this study aims to analyze the effects of financial globalization, urbanization, eco-innovation, and economic growth on the ecological footprints of the G7 countries. Using annual frequency data spanning from 1980 to 2016, several latest econometric methods, that are robust to handling cross-sectionally dependent panel datasets, are employed to ascertain the environmental impacts of these variables. The overall findings show that financial globalization and eco-innovation reduce the ecological footprints, while urbanization stimulates environmental degradation by boosting the ecological footprints. Besides, the relationship between economic growth and ecological footprints is found to be inverted U-shaped. Hence, the Environment Kuznets Curve hypothesis is found to hold in the case of the G7 countries. Furthermore, eco-innovation is found to exert an indirect favorable impact on the environment through the channel of urbanization. Thus, eco-innovation can be expected to facilitate sustainable urbanization in the G7 countries. In line with these crucial findings, this study recommends that the G7 countries should be more financially integrated, finance eco-innovation related projects, promote sustainable urbanization, and expedite economic growth rates through the sustainable transformation of their production and consumption processes.
Mahmood Ahmad; Ping Jiang; Muntasir Murshed; Khurram Shehzad; Rabia Akram; Lianbiao Cui; Zeeshan Khan. Modelling the dynamic linkages between eco-innovation, urbanization, economic growth and ecological footprints for G7 countries: Does financial globalization matter? Sustainable Cities and Society 2021, 70, 102881 .
AMA StyleMahmood Ahmad, Ping Jiang, Muntasir Murshed, Khurram Shehzad, Rabia Akram, Lianbiao Cui, Zeeshan Khan. Modelling the dynamic linkages between eco-innovation, urbanization, economic growth and ecological footprints for G7 countries: Does financial globalization matter? Sustainable Cities and Society. 2021; 70 ():102881.
Chicago/Turabian StyleMahmood Ahmad; Ping Jiang; Muntasir Murshed; Khurram Shehzad; Rabia Akram; Lianbiao Cui; Zeeshan Khan. 2021. "Modelling the dynamic linkages between eco-innovation, urbanization, economic growth and ecological footprints for G7 countries: Does financial globalization matter?" Sustainable Cities and Society 70, no. : 102881.
The current coronavirus (COVID-19) pandemic has a high spreading and fatality rate. To control the rapid spreading of the COVID-19 virus, the government of India imposed lockdown policies, which creates a unique opportunity to analyze the impact of lockdown on air quality in the two most populous cities of India, i.e., Delhi and Mumbai. To do this, the study employed a spatial approach to examine the concentration of seven criteria pollutants, i.e., PM2.5, PM10, NH3, CO, NO2, O3, and SO2, before, during, and after a lockdown in Delhi and Mumbai. Overall, around 42%, 50%, 21%, 37%, 53%, and 41% declines in PM2.5, PM10, NH3, CO, NO2, and SO2 were observed during the lockdown period as compared to previous years. On the other hand, a 2% increase in O3 concentration was observed. However, the study analyzed the National Air Quality Index (NAQI) for Delhi and Mumbai and found that lockdown does not improve the air quality in the long term period. Our key findings provide essential information to the cities' administration to develop rules and regulations to enhance air quality.
Khurram Shehzad; Liu Xiaoxing; Mahmood Ahmad; Abdul Majeed; Farheen Tariq; Salman Wahab. Does air pollution upsurge in megacities after Covid-19 lockdown? A spatial approach. Environmental Research 2021, 197, 111052 -111052.
AMA StyleKhurram Shehzad, Liu Xiaoxing, Mahmood Ahmad, Abdul Majeed, Farheen Tariq, Salman Wahab. Does air pollution upsurge in megacities after Covid-19 lockdown? A spatial approach. Environmental Research. 2021; 197 ():111052-111052.
Chicago/Turabian StyleKhurram Shehzad; Liu Xiaoxing; Mahmood Ahmad; Abdul Majeed; Farheen Tariq; Salman Wahab. 2021. "Does air pollution upsurge in megacities after Covid-19 lockdown? A spatial approach." Environmental Research 197, no. : 111052-111052.
Novel Coronavirus (COVID-19) has prominently exaggerated the stock markets of the world. It has distraught the financial and economic constancy of the globe. The study scrutinized the non-linear behavior of well-known Chinese and Pakistani stock markets, i.e. the Shanghai Composite Index (SSEC) and the Karachi Stock Exchange (KSE-100 index). The analysis utilized the VAR-DCC-MEGARCH model to determine the returns transmission and volatility spillover pattern of these markets during the standard and COVID-19 era. These results inveterate, during normal circumstances, returns generated in the financial markets of Pakistan expressively control the return movements of SSEC. However, control of Chinese stock markets on Pakistan's stock markets in terms of returns remained insignificant. The research evaluated that volatility spillover between the KSE-100 index and SSEC was insignificant during the stable periods. Nonetheless, the statistics of volatility spillovers during the pandemic era confirmed that instability in the SSEC portentously upsurges the uncertainty of the KSE-100 index. Besides, the study reported a significant leverage effect for both markets during the pandemic era. The study revealed that SSEC is the best resort for Pakistani investors to diversify financial risk.
Khurram Shehzad; Liu Xiaoxing; Hayfa Kazouz; Daniel Balsalobre-Lorente; Ayoub Zeraibi; Abdul Rauf. An asymmetric spillover between China and Pakistan’ stock markets: a comparative analysis before and during COVID-19 crisis. Journal of Sustainable Finance & Investment 2021, 1 -20.
AMA StyleKhurram Shehzad, Liu Xiaoxing, Hayfa Kazouz, Daniel Balsalobre-Lorente, Ayoub Zeraibi, Abdul Rauf. An asymmetric spillover between China and Pakistan’ stock markets: a comparative analysis before and during COVID-19 crisis. Journal of Sustainable Finance & Investment. 2021; ():1-20.
Chicago/Turabian StyleKhurram Shehzad; Liu Xiaoxing; Hayfa Kazouz; Daniel Balsalobre-Lorente; Ayoub Zeraibi; Abdul Rauf. 2021. "An asymmetric spillover between China and Pakistan’ stock markets: a comparative analysis before and during COVID-19 crisis." Journal of Sustainable Finance & Investment , no. : 1-20.
This investigation utilized the Non-Linear Autoregressive Distributed Lag (NARDL) approach to ascertain the non-linear influence of FDI and ICT on CO2 emission in Pakistan. Moreover, the examination revealed the impact of population, trade, and import and production of ICT on Pakistan's environmental quality. The findings of the inspection specified that negative (positive) shocks in ICT use upsurge (diminution) the level of CO2 emanation. In addition, positive shocks in FDI expressively escalate CO2 emission. However, adverse shocks indicated inconsequential sway on CO2 emission. The study identified that the production of ICT instruments at the domestic level improves environmental quality than importing from other nations. Further, the population exposed direct rapport with CO2 emission; while, the coefficient of trade disclosed a negative effect on CO2 emission in Pakistan. The investigation evaluated the Environmental Kuznets Curve (EKC) hypothesis and found that economic growth has a U-shaped liaison with CO2 emission, inferring that the EKC hypothesis imperatively exists in Pakistan. The investigation suggested that the government of Pakistan should facilitate the general public to use smart electrical devices. Moreover, the Government of Pakistan should provide opportunities for ICT based international companies to install their production units in Pakistan.
Khurram Shehzad; Liu Xiaoxing; Muddassar Sarfraz. Envisaging the asymmetrical association among FDI, ICT, and climate change: a case from developing country. Carbon Management 2021, 12, 123 -137.
AMA StyleKhurram Shehzad, Liu Xiaoxing, Muddassar Sarfraz. Envisaging the asymmetrical association among FDI, ICT, and climate change: a case from developing country. Carbon Management. 2021; 12 (2):123-137.
Chicago/Turabian StyleKhurram Shehzad; Liu Xiaoxing; Muddassar Sarfraz. 2021. "Envisaging the asymmetrical association among FDI, ICT, and climate change: a case from developing country." Carbon Management 12, no. 2: 123-137.
Due to the novel coronavirus pandemic (COVID-19), the lockdown engendered has had a vicious impact on the global economy. This analysis’ prime intention is to evaluate the impact of the United States’ economic and health crisis as a result of COVID-19 on its financial stability. Additionally, the investigation analyzed the spillover impact of the worldwide economic slowdown experienced by COVID-19 on the United States’ financial volatility. The study applied an autoregressive distributed lag (ARDL) model and discovered that the economic and health crises that occurred in the United States portentously upset the future expectations of its investors. Conspicuously, the health crisis in Spain and Italy were ominous spillovers of the United States’ financial instability in the short-run. Likewise, an economic crisis ensued in the United Kingdom because of COVID-19 causing spillover for the United States markets’ financial instability. The examination evaluated that Asian and African nations’ economic crises perilously affects the United States’ financial stability. The study determined that financial instability occurred in the United States due to its own economic and health crises persisted for a longer period than financial disequilibrium that occurred in other nations. The analysis suggested some strategies of smart lockdown that the government of the United States and other nations should follow to restart the economic cycle through tighter controls to minimize losses by following the steps of (a) preparing a lockdown checklist, (b) monitoring completion of lockdown tasks, and (c) complete a close-down stock take or count.
Khurram Shehzad; Liu Xiaoxing; Faik Bilgili; Emrah Koçak. COVID-19 and Spillover Effect of Global Economic Crisis on the United States’ Financial Stability. Frontiers in Psychology 2021, 12, 632175 .
AMA StyleKhurram Shehzad, Liu Xiaoxing, Faik Bilgili, Emrah Koçak. COVID-19 and Spillover Effect of Global Economic Crisis on the United States’ Financial Stability. Frontiers in Psychology. 2021; 12 ():632175.
Chicago/Turabian StyleKhurram Shehzad; Liu Xiaoxing; Faik Bilgili; Emrah Koçak. 2021. "COVID-19 and Spillover Effect of Global Economic Crisis on the United States’ Financial Stability." Frontiers in Psychology 12, no. : 632175.
This paper aims to measure the effect of tax contributions in promoting innovation while highlighting the role of corporate taxes in governance quality in nations within and outside the Organization for Economic Co-operation and Development (OECD). The study applied the generalized method of moments (GMM) framework and found that good governance invariably increases the Innovation Index. Moreover, research and development expenditures revealed a positive association with the Innovation Index. However, corporate taxes and taxes paid by the business sector harm the Innovation Index. Following the investigation, we recommended that policymakers should plan well to balance the costs of innovation and tax incentives, to avoid stimulating unproductive innovations or affecting operating budgets.
Daniel Balsalobre-Lorente; Ayoub Zeraibi; Khurram Shehzad; José María Cantos-Cantos. Taxes, R&D Expenditures, and Open Innovation: Analyzing OECD Countries. Journal of Open Innovation: Technology, Market, and Complexity 2021, 7, 36 .
AMA StyleDaniel Balsalobre-Lorente, Ayoub Zeraibi, Khurram Shehzad, José María Cantos-Cantos. Taxes, R&D Expenditures, and Open Innovation: Analyzing OECD Countries. Journal of Open Innovation: Technology, Market, and Complexity. 2021; 7 (1):36.
Chicago/Turabian StyleDaniel Balsalobre-Lorente; Ayoub Zeraibi; Khurram Shehzad; José María Cantos-Cantos. 2021. "Taxes, R&D Expenditures, and Open Innovation: Analyzing OECD Countries." Journal of Open Innovation: Technology, Market, and Complexity 7, no. 1: 36.
Two essential topics of Sustainable Development Goals (SDGs) are accessible which are clean energy (SDG-7) and climate change action (SDG-13). Developments and innovations in energy technologies play an essential role in achieving these goals. Therefore, any country should use energy R&D expenditures, which are the primary source of energy innovation, most optimally. This paper aims to investigate the environmental efficiency of R&D expenditures for energy efficiency, renewable energy, hydro and fuel cells, fossil energy, nuclear energy, and other power and storage technologies in OECD countries using data envelopment analysis (DEA) and bootstrap DEA. Estimation findings indicate that only the USA ensures the environmental efficiency in energy R&D expenditures among OECD countries. Although Japan, Canada, France, Germany, and Italy cannot provide environmental efficiency in energy R&D, their scores are very close to the efficiency frontier. Portugal, Hungary, and Slovak Republic are the countries with the lowest environmental efficiency in energy R&D expenditures. At the end of the investigation, this paper also provides an empirical estimation of the extent to which inefficient countries should change their R&D spending to achieve efficiency.
Emrah Koçak; Harun Kınacı; Khurram Shehzad. Environmental efficiency of disaggregated energy R&D expenditures in OECD: a bootstrap DEA approach. Environmental Science and Pollution Research 2021, 28, 19381 -19390.
AMA StyleEmrah Koçak, Harun Kınacı, Khurram Shehzad. Environmental efficiency of disaggregated energy R&D expenditures in OECD: a bootstrap DEA approach. Environmental Science and Pollution Research. 2021; 28 (15):19381-19390.
Chicago/Turabian StyleEmrah Koçak; Harun Kınacı; Khurram Shehzad. 2021. "Environmental efficiency of disaggregated energy R&D expenditures in OECD: a bootstrap DEA approach." Environmental Science and Pollution Research 28, no. 15: 19381-19390.
This study aims to explore the connection between the potential effects of energy consumption and technological innovation on economic growth in China from 1980 to 2018. The Non-Linear Autoregressive Distributive Lag (NARDL) econometric approach reveals an asymmetric connection between technological innovation, energy consumption, and economic growth in China from 1980 to 2018. The empirical results also reveal that a 1% decrease in energy consumption would imperatively decline economic growth by 12.5%. Moreover, a 1% upsurge in trademark applications improves economic growth by 8.2%. For the case of China, this study reveals that a large portion of the energy was used by families, which is regarded as a non-contributing element to the economy of China. This study suggests that the promotion and production of energy-efficient processes and products is necessary in order to make a more significant step toward sustainable development. The empirical findings also suggest that the Chinese government should regulate suitable policies aimed at promoting energy efficiency and the control of inefficient energy uses.
Ayoub Zeraibi; Daniel Balsalobre-Lorente; Khurram Shehzad. Examining the Asymmetric Nexus between Energy Consumption, Technological Innovation, and Economic Growth; Does Energy Consumption and Technology Boost Economic Development? Sustainability 2020, 12, 8867 .
AMA StyleAyoub Zeraibi, Daniel Balsalobre-Lorente, Khurram Shehzad. Examining the Asymmetric Nexus between Energy Consumption, Technological Innovation, and Economic Growth; Does Energy Consumption and Technology Boost Economic Development? Sustainability. 2020; 12 (21):8867.
Chicago/Turabian StyleAyoub Zeraibi; Daniel Balsalobre-Lorente; Khurram Shehzad. 2020. "Examining the Asymmetric Nexus between Energy Consumption, Technological Innovation, and Economic Growth; Does Energy Consumption and Technology Boost Economic Development?" Sustainability 12, no. 21: 8867.
The purpose of this study is to investigate how investor’s money attitudes shape their stock market participation (SMP) decisions. This study followed the theory of planned behavior (TPB), and a survey was conducted to collect the responses from active investors. Structural equation modeling (SEM) was used for the analysis of proposed relationships among the constructs, and a confirmatory factor analysis (CFA) was conducted to check the interrelation of the variables and validity of the constructs. This research has concluded that investor’s money attitudes are significant to affect their stock market participation decisions. Further, it was found that risk attitudes partially mediate the relationship between money attitudes and stock market participation. Moreover, financial knowledge and financial self-efficacy positively moderated the relationship between money attitudes and stock market participation. This research is one of the early attempts at studying the money attitudes of investors and introduces financial self-efficacy as a moderating construct between money attitudes and stock market participation. The sample size for this study was 250 respondents which can be increased in future research, and the same relationships can be tested by using a larger sample. Moreover, this study has used money attitudes as predictors of stock market participation. Still, many other variables, like personal value, can also be taken to investigate their influence on stock market participation.
Muhammad Asif Nadeem; Muhammad Ali Jibran Qamar; Mian Sajid Nazir; Israr Ahmad; Anton Timoshin; Khurram Shehzad. How Investors Attitudes Shape Stock Market Participation in the Presence of Financial Self-Efficacy. Frontiers in Psychology 2020, 11, 553351 .
AMA StyleMuhammad Asif Nadeem, Muhammad Ali Jibran Qamar, Mian Sajid Nazir, Israr Ahmad, Anton Timoshin, Khurram Shehzad. How Investors Attitudes Shape Stock Market Participation in the Presence of Financial Self-Efficacy. Frontiers in Psychology. 2020; 11 ():553351.
Chicago/Turabian StyleMuhammad Asif Nadeem; Muhammad Ali Jibran Qamar; Mian Sajid Nazir; Israr Ahmad; Anton Timoshin; Khurram Shehzad. 2020. "How Investors Attitudes Shape Stock Market Participation in the Presence of Financial Self-Efficacy." Frontiers in Psychology 11, no. : 553351.
The novel coronavirus (COVID-19) has imperatively shaken the behavior of the global financial markets. This study estimated the impact of COVID-19 on the behavior of the financial markets of Europe and the US. The results revealed that the returns of the S&P 500 index have been greatly affected by a lockdown in the US owing to COVID-19. However, the health crisis generated due to the novel coronavirus significantly decreased the stock returns of the Nasdaq Composite index. The results also showed that the economic crisis generated from the pandemic in Spain has had more impact on the IBEX 35 as compared to the health crisis itself. On the other hand, in the long-run, Italy’s stock markets are more affected by the health crisis as contrasted with the economic crisis, while, in the short-run, both lockdown conditions and economic instability lower the stock returns of FTSE MIB. The UK stock markets witnessed that in the short-run, deficiency of health management systems imperatively damaged the stock returns of the London Stock Exchange. The investigation revealed that deficiency of health systems and lockdown conditions have imperatively damaged the structure of financial markets, inferring that sustainable development of these nations is at risk due to COVID-19. The study suggested that governments should allocate more of their budget to the health sector to overcome a health crisis in the future.
Khurram Shehzad; Liu Xiaoxing; Muhammad Arif; Khaliq Ur Rehman; Muhammad Ilyas. Investigating the Psychology of Financial Markets During COVID-19 Era: A Case Study of the US and European Markets. Frontiers in Psychology 2020, 11, 1 .
AMA StyleKhurram Shehzad, Liu Xiaoxing, Muhammad Arif, Khaliq Ur Rehman, Muhammad Ilyas. Investigating the Psychology of Financial Markets During COVID-19 Era: A Case Study of the US and European Markets. Frontiers in Psychology. 2020; 11 ():1.
Chicago/Turabian StyleKhurram Shehzad; Liu Xiaoxing; Muhammad Arif; Khaliq Ur Rehman; Muhammad Ilyas. 2020. "Investigating the Psychology of Financial Markets During COVID-19 Era: A Case Study of the US and European Markets." Frontiers in Psychology 11, no. : 1.
The study implies VARX‐DCC‐MEGARCH model to investigate the returns transmission, volatility spillovers, asymmetry effect and the dynamic correlation between China and U.S. stock markets, as well as their local stock markets. We found that daytime returns of U.S. stock markets affect the overnight returns of Chinese stock markets. However, overnight returns transmission from the United States to China (daytime) was insignificant. Returns transmissions from Chinese stock markets to the United States are not significant. Daytime volatility of U.S. stock markets significantly spillovers the overnight volatility of Chinese stock markets and daytime volatility of Chinese stock markets spillovers the overnight volatility of U.S. stock markets. Moreover, during financial crises period, negative daily returns of Chinese stock markets significantly transmit to U.S. stock markets. Additionally, returns and volatility spillovers between local markets of the United States was also significant. During the financial crisis, the volatility spillovers between local stocks market of China was significant on one hand and leverage effect for U.S. and Chinese stock markets were also significant on the other hand.
Khurram Shehzad; Xiaoxing Liu; Aviral Tiwari; Muhammad Arif; Abdul Rauf. Analysing time difference and volatility linkages between China and the United States during financial crises and stable period using VARX‐DCC‐MEGARCH model. International Journal of Finance & Economics 2020, 26, 814 -833.
AMA StyleKhurram Shehzad, Xiaoxing Liu, Aviral Tiwari, Muhammad Arif, Abdul Rauf. Analysing time difference and volatility linkages between China and the United States during financial crises and stable period using VARX‐DCC‐MEGARCH model. International Journal of Finance & Economics. 2020; 26 (1):814-833.
Chicago/Turabian StyleKhurram Shehzad; Xiaoxing Liu; Aviral Tiwari; Muhammad Arif; Abdul Rauf. 2020. "Analysing time difference and volatility linkages between China and the United States during financial crises and stable period using VARX‐DCC‐MEGARCH model." International Journal of Finance & Economics 26, no. 1: 814-833.
The primary objective of the study is to analyse the relationship between COVID-19 and nitrogen dioxide in New York City during the global pandemic. Notably, the study has investigated the direct influence of lockdown circumstances (due to COVID-19) and plunge in the population of New York on its environmental contamination. The study utilized the Non-Linear Autoregressive Distributed Lag (NARDL) model to ascertain the asymmetric impact of COVID-19 on the environmental quality of the USA. The results reveal that lockdown has played a significant role in the environmental quality of the USA. Notably, an escalation in the registered cases of COVID-19 has a meaningful and indirect relationship with environmental pollution in the UAS. Besides, as the lockdown state goes normal, it results in an explosion in the environmental pollution in the USA. Also, deaths due to COVID-19 substantively improve the environmental quality in the short-term period as well as in the long-term period.
Muddassar Sarfraz; Khurram Shehzad; Awais Farid. Gauging the air quality of New York: a non-linear Nexus between COVID-19 and nitrogen dioxide emission. Air Quality, Atmosphere & Health 2020, 13, 1135 -1145.
AMA StyleMuddassar Sarfraz, Khurram Shehzad, Awais Farid. Gauging the air quality of New York: a non-linear Nexus between COVID-19 and nitrogen dioxide emission. Air Quality, Atmosphere & Health. 2020; 13 (9):1135-1145.
Chicago/Turabian StyleMuddassar Sarfraz; Khurram Shehzad; Awais Farid. 2020. "Gauging the air quality of New York: a non-linear Nexus between COVID-19 and nitrogen dioxide emission." Air Quality, Atmosphere & Health 13, no. 9: 1135-1145.
This study attempts to investigate the short-run and long-run impact of formal credit (CR) and climate change (CC, via CO2 emissions) on agricultural production (AP) in Pakistan. In addition, other imperative control variables included in this study comprise technology factors (tractors (TRs) and tube wells (TWs), energy consumption (EC), and labor force (LF). This study used annual data covering the period 1983–2016. The autoregressive distributed lag (ARDL) approach is applied to explore the cointegration between the underlying variables and used the granger causality test under the vector error correction model (VECM) context to determine the direction of causality among the variables. The findings of the ARDL bounds-testing approach suggest that there is a long-term relationship among formal credit, climate change (CO2 emissions), technology factors (tractors and tube wells), energy consumption, labor force, and agricultural production. The empirical results reveal that formal credit, technology use (tractors), and labor force have a positive and significant impact on agricultural production in both the short-run and long-run. CO2 emissions have a positive impact on agricultural production but are not significant in either case. Finally, a unidirectional relationship is established from formal credit to agricultural production; labor force to agricultural production; and electricity consumption and technology factors (tractors and tube wells) to CO2 emissions. The recent study claims that formal institutions should guarantee the redeployment of their services/amenities to those who call for them acutely, with the purpose of boosting their approach to monetary credit facilities and empower farmers to further the resilience that will capitalize on post-fruitage enrichments. Finally, considering that climatic change is a widespread fact with regional community trajectories, perhaps the global community may provide reassurance for loaning to smallholder agriculturalists through central and commercial banks by protecting the moneys that banks lend to the agriculturalists towards supporting climatic change espousal strategies.
Abbas Ali Chandio; Yuansheng Jiang; Abdul Rauf; Fayyaz Ahmad; Waqas Amin; Khurram Shehzad. Assessment of Formal Credit and Climate Change Impact on Agricultural Production in Pakistan: A Time Series ARDL Modeling Approach. Sustainability 2020, 12, 5241 .
AMA StyleAbbas Ali Chandio, Yuansheng Jiang, Abdul Rauf, Fayyaz Ahmad, Waqas Amin, Khurram Shehzad. Assessment of Formal Credit and Climate Change Impact on Agricultural Production in Pakistan: A Time Series ARDL Modeling Approach. Sustainability. 2020; 12 (13):5241.
Chicago/Turabian StyleAbbas Ali Chandio; Yuansheng Jiang; Abdul Rauf; Fayyaz Ahmad; Waqas Amin; Khurram Shehzad. 2020. "Assessment of Formal Credit and Climate Change Impact on Agricultural Production in Pakistan: A Time Series ARDL Modeling Approach." Sustainability 12, no. 13: 5241.