Insights for a sustainable environment: analysing the persistence of policy shocks to ecological footprints of Mediterranean countries


Yilanci V. , ULUCAK R., Ozgur O.

SPATIAL ECONOMIC ANALYSIS, 2021 (Journal Indexed in SSCI) identifier identifier

  • Publication Type: Article / Article
  • Publication Date: 2021
  • Doi Number: 10.1080/17421772.2021.1919313
  • Title of Journal : SPATIAL ECONOMIC ANALYSIS
  • Keywords: environmental policies, environmental sustainability, ecological footprint, RALS-LM unit root test, CARBON-DIOXIDE EMISSIONS, UNIT-ROOT TEST, OIL-PRICE SHOCK, CLUB CONVERGENCE, KUZNETS CURVE, CO2 EMISSIONS, TREND BREAKS, GREAT CRASH, STATIONARITY, ENERGY

Abstract

As much as the importance of designing sustainable environmental policies, consideration of their probable effects is also crucial to foresee whether or not they may create desired changes. To this end, following more robust and current methodologies, Lagrange multiplier (LM) and residual augmented least-square LM (RALS-LM) approaches, this study investigates whether policy shocks to ecological footprints of Mediterranean countries have a permanent and temporary effect on the pathway of a sustainable environment. Results point out that a stricter policy stance should be required to generate permanent desired changes in the environment and achieve environmental sustainability.