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    Assessing the Economic Impacts of Tourism Markets and Activities Diversification: Evidence From a New Dynamic Regression Approach
    (Sage Publications Inc, 2023) Solarin, Sakiru Adebola; Ulucak, Recep; Erdogan, Sinan
    This paper undertakes an exploration of how the diversification of tourism markets and activities exerts its influence on economic growth, particularly in New Zealand. By employing a dynamic autoregressive distributed lag method, this study uncovers the interplay between tourism diversification and economic growth dynamics in New Zealand. Empirical results show that it is only the diversification of European markets that generated positive economic growth. However, the diversification of tourism activities emerges as a potent driver of favorable economic expansion. The evidence suggests that a strategic emphasis on augmenting tourism diversification from European markets holds the potential to magnify the positive economic impact of the tourism sector. Additionally, the proposition of enhancing diversification in tourism activities emerges as a key avenue for bolstering New Zealand's economic growth prospects. This study bridges a gap in the existing literature and furnishes policymakers with insights on how to harness the potential of tourism diversification.
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    Convergence analysis of ammonia emissions by sector and fuel source in OECD countries from 1750 to 2019 using a new Fourier-centric wavelet approach
    (Springer Heidelberg, 2022) Solarin, Sakiru Adebola; Erdogan, Sinan; Bello, Mufutau Opeyemi
    Although ammonia emissions are not as huge as carbon and methane emissions, they pose significant threats to ensuring environmental sustainability and productivity. However, the existing literature has paid less attention to the underlying characteristics of ammonia emissions. The chief target of this study is to investigate the stochastic convergence of ammonia emissions at the aggregate level, by sector, and by fuel source in 37 Organization for Economic Cooperation and Development countries for more than two centuries of data. Using a newly proposed Fourier-augmented wavelet unit root test, the empirical findings reveal that the relative ammonia emissions series in most Organization for Economic Cooperation and Development countries follow the unit root process in the aggregate, sectoral, and fuel-specific analyses. Therefore, these findings refer to the existence of divergence, while stochastic convergence does not exist in most cases. Having a divergent pattern of ammonia emissions has several policy implications for policymakers in the context of environmental sustainability. (i) Relative ammonia emission cannot revert to its steady-state path without policy intervention, (ii) policymakers have a chance of affecting the dynamics of ammonia emissions in Organization for Economic Cooperation and Development countries. (iii) As a policy response, the study recommends the pursuant of national environmental policies with consideration to the unique characteristics of the individual countries as the non-existence of convergence of environmental series could result in a diverse level of consciousness of environmental degradation among countries with divergent patterns on emissions levels.
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    Convergence of Income Inequality in OECD Countries Since 1870: A Multi-Method Approach with Structural Changes
    (Springer, 2023) Solarin, Sakiru Adebola; Erdogan, Sinan; Pata, Ugur Korkut
    This paper aims to examine convergence of income inequality in 21 OECD countries using several empirical techniques. In particular, we have used a new panel stationarity test, which allows for structural changes and cross-sectional dependence to examine the stochastic convergence of income inequality. We also employed a time series approach, residual augmented least squares-Lagrange multiplier unit root test. The empirical results show evidence for absolute, conditional, and sigma convergence. The conditional convergence test results suggest that countries are converging, but conditional on the two structural factors-economic and population growth. The stochastic convergence test results indicate the existence of convergence at the country-specific level. The results further confirm the existence of convergent clubs among OECD countries.
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    Evaluating the influence of democracy, financial development, and fishery product consumption on fishing grounds: A case study for Malaysia
    (Elsevier Sci Ltd, 2024) Pata, Ugur Korkut; Erdogan, Sinan; Solarin, Sakiru Adebola; Okumus, Ilyas
    Enhancing environmental sustainability in all dimensions, including marine life, is an important task for all stakeholders. The Sustainable Development Goal-14 aims to protect marine life and reduce ecological pollution in marine ecosystems. In this regard, this study aims to examine the influence fishery product consumption, economic growth, democracy, and financial development on fishing footprint in Malaysia. For this purpose, three different models are employed under the Environmental Kuznets Curve (EKC) framework from 1961 to 2018. The empirical results can be summarized as follows: (i) The EKC is not valid for Malaysia's fishing footprint (ii) Fishery product consumption and economic growth increase the fishing footprint, while population and financial development reduces pollution in fishing grounds (iv) Democracy has no impact on fishing footprint. Based on the research findings, the Malaysian government is recommended to promote green economic regulations for fisheries, environmental financing, and clean fishery products in order to mitigate the fishing footprint.
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    On the persistence of shocks to global CO2 emissions: a historical data perspective (0 to 2014)
    (Springer Heidelberg, 2022) Erdogan, Sinan; Pata, Ugur Korkut; Solarin, Sakiru Adebola; Okumus, Ilyas
    Anthropogenic emissions of carbon dioxide (CO2) are the most important greenhouse gas. However, until now, no research has investigated the persistence of global CO2 emissions over a very long period of time. This work aims to fill this gap by examining the persistence of shocks to global CO2 emissions with a dataset of more than 2000 years. To this end, the study applies a battery of unit root tests by considering sharp and smooth structural shifts as well as the frequency domain properties of the series. Lee-Strazicich method results reveal that sharp break dates relate to the influenza pandemic of 1557 and the invention of the steam engine in 1712, and these historical events led to changes in the trend function of CO2 emissions. The findings of the Fourier Lagrange Multiplier and Fourier wavelet unit root tests illustrate that global CO2 emissions contain a unit root and do not exhibit mean-reverting behavior, thus external shocks have permanent effects on CO2 emissions. The results suggest that a reduction in global CO2 emissions is possible if effective environmental and energy policies established in international meetings such as Rio Conference, Kyoto Protocol Paris Agreement, and the United Nations Sustainable Development Summit are properly implemented.
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    Persistence of shocks on sectoral non-methane volatile organic compound from 1820 to 2019: Insights from a fourier quantile unit root test
    (Academic Press Ltd- Elsevier Science Ltd, 2023) Solarin, Sakiru Adebola; Pata, Ugur Korkut; Erdogan, Sinan; Okumus, Ilyas
    Despite being directly related to anthropogenic consumption and production, researchers have paid less attention to understanding the dynamics of non-methane volatile organic compounds. The primary objective of this research is to investigate the persistence of potential shocks to non-methane volatile organic compounds in 20 developed from 1820 to 2019 performing traditional unit root approaches and a newly developed Fourier quantile unit root test. Great portion of the empirical results obtained by traditional unit root tests reveal that the sectoral non-methane volatile organic compounds follow a non-stationary process, while the Fourier quantile unit root test indicate quite different results. The Fourier quantile test shows that non-methane volatile organic compounds are stationary in the United Kingdom, Ireland, Germany, France and Austria. In the other 15 countries, government interventions to reduce non-methane volatile organic compounds can have lasting effects and success. The inferences and policy outcomes of the empirical results are discussed in the main body of the paper.
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    Stochastic convergence in carbon emissions based on a new Fourier-based wavelet unit root test
    (Springer Heidelberg, 2021) Erdogan, Sinan; Solarin, Sakiru Adebola
    Most of the existing studies on stochastic convergence of emission have not adequately considered smooth structural changes. The primary purpose of this paper is to examine the validity of stochastic convergence at different income levels by recently proposed Fourier-based wavelet augmented Dickey-Fuller test with smooth shifts. Empirical results can be summed up as follows: (i) carbon emission per capita follows the stationarity process in 35 high-income countries, while carbon emission per capita follows the stationarity process in 27 upper-middle-income countries; (ii) besides, carbon emission per capita follows stationarity process in 30 lower-middle-income countries, while carbon emission per capita follows stationarity process in 13 low-income countries; (iii) in light of these findings, it can be said that stochastic convergence among different income groups is valid. The implications of the empirical findings for environmental planning and management are discussed in the body of the paper.
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    Towards carbon-neutral world: The effect of renewable energy investments and technologies in G7 countries
    (Pergamon-Elsevier Science Ltd, 2023) Erdogan, Sinan; Pata, Ugur Korkut; Solarin, Sakiru Adebola
    Can renewable energy investments and technologies help achieve carbon neutrality goals? The answer to this question has been neglected until now due to a lack of data. The novelty of this study lies in its exploration of the influence of renewable energy investments and renewable energy technologies on reducing petroleum-derived carbon emissions for the first time in the Group of seven (G7) countries. An additional novel aspect of the study is to discuss how governance indicators, such as regulatory quality, political stability, and democracy, can influence the carbon neutrality targets of the G7 nations. To this end, the study applies second-generation panel data methods, such as the cross-sectionally augmented Dickey-Fuller unit root test, the Durbin-Hausmann panel cointegration test, and the panel augmented mean group estimator. The findings illustrate that renewable energy investments and technologies help reduce carbon emissions in different models. Additionally, while economic growth is beneficial to the environment, governance indicators have no effect on carbon emissions. Overall, the outcomes suggest that G7 countries should increase their investments in renewable energy and support clean technologies to achieve their carbon neutral targets. The study also points out that reducing oil consumption by promoting renewable energy technologies and investments is a critical step toward carbon neutrality for G7 policymakers.
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    Uncovering the linkage among tourism diversification, economic development, energy consumption, population density, technology, and carbon emissions: empirical evidence from New Zealand
    (Springer, 2024) Erdogan, Sinan; Pata, Ugur Korkut; Okumus, Ilyas; Solarin, Sakiru Adebola
    Although the influence of tourism on the environment is a frequently studied topic, examining the impact of tourism diversification on carbon emissions is a recent area of research. In this context, this study examines the impacts of tourism diversification, income, energy consumption, research and development expenditures, and population density on carbon emissions in New Zealand for the period 1981-2020 using the Autoregressive Distributed Lag approach. The results illustrate that income, lower tourism diversification, and energy consumption increase carbon emissions, while an upsurge in population density and research and development expenditures minimizes environmental degradation. According to the findings, New Zealand's intensification of tourism in certain areas increases the environmental damage. It is therefore recommended that the New Zealand government promote tourism diversification and research and development expenditures to achieve environmental sustainability goals.
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    Wavelet and Fourier augmented convergence analysis of methane emissions in more than two centuries: implications for environmental management in OECD countries
    (Springer Heidelberg, 2022) Solarin, Sakiru Adebola; Erdogan, Sinan; Okumus, Ilyas
    Addressing the challenges posed by pollutants is necessary to achieve Sustainable Development Goal 13, which involves climate change mitigation and enhancement of environmental quality. The convergence analysis of a pollutant provides information that can be useful to how to handle that pollutant across countries or regions, and previous studies mainly focused on carbon emission. However, the second most significant greenhouse gas, methane emission, was mostly ignored. The primary objective of this research is to investigate whether stochastic convergence of methane emissions is valid in 37 OECD (Organisation for Economic Co-operation and Development) countries using a dataset of more than two centuries. The results obtained by using a set of traditional unit root tests and a newly proposed wavelet unit root test with a Fourier function provide overwhelming evidence for these countries' divergence of methane emissions. The policy implications resulting from the empirical findings for environmental management are discussed in the relevant sections of the paper.