Cross Sectional Dependence News Today

The reform of the power sector is one of the widely pursued energy policy in developing economies with core objectives around improving socio-economic outcomes. The empirical evidence, however, has not quantified the reform impacts separating the effects of common factors such as drivers of reforms among reforming countries. This is the first study in the reform literature to investigate the socio-economic impacts of power sector reforms accounting for cross-sectional dependence. We focus on the...

This paper aims to examine the asymmetric impact of oil price shocks on environmental degradation for a panel of six Gulf Cooperation Council (GCC) countries from 1996 to 2016. We use dynamic seemingly unrelated regressions (DSUR) approach that considers cross-sectional dependency to reveal the interrelations between oil price shocks and carbon dioxide (CO2) emissions. The finding shows that the positive shocks of oil prices have a statistically significant negative effect on CO2 emissions, whil...

Research proved the significance of forests in controlling carbon emission however, our research shed light on the management of existing forests to combat climate change. To examine the role of forestation and forest investment activities, dynamic spatial techniques are used for 30 provinces of China. The results suggest that forest investment and management not only reduce carbon locally but also in neighboring provinces. Furthermore, the findings of current study confirmed that forest investm...