Scopus Index Publications

Now showing 1 - 3 of 3

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Economic and Environmental Drivers of Carbon Emissions in Asia: Granger Causality Insights From Foreign Investment, Inflation, and Ecological Footprint
(John Wiley and Sons Ltd, 2026) Nizar, S; Natkunarasa, A; Divyanjali, H; Jayathilaka, R
Rising carbon emissions cause critical challenges to sustainable development, particularly in Asia which accounts for a substan-tial share of global emissions. The study investigates the short-run causal relationships between foreign direct investment, infla-tion, ecological footprint, and carbon emissions across 27 Asian countries (final analytical sample) over the period 2000–2023.Utilizing country-specific VAR-based Granger causality analysis, the study captures heterogeneous sustainability economic in-teractions without imposing uniform panel assumptions. The results reveal diverse unidirectional and bidirectional causalitypatterns, highlighting how macroeconomic pressures and environmental constraints jointly shape emission outcomes. Thesefindings underscore the importance of sustainable investment, energy price management, and institutional capacity in sup-porting sustainable communities and enhancing knowledge-driven sustainability transitions. From a managerial and policyperspective, the results provide actionable insights aligning with investment decisions, macroeconomic management, and envi-ronmental governance with the sustainable development goals, particularly SDG 13 (climate action), while recognizing country-specific development pathways.
Open Access
Carbon emissions and global R&D patterns: a wavelet coherence perspective
(Springer, 2025-03-23) Senevirathna, D; Gunawardana, H; Ranthilake, T; Caldera, Y; Jayathilaka, R; Rathnayake, N; Peter, S
This study examines the causality between Research and Development (R&D) and Carbon dioxide (CO2) emissions at the global level, utilising data gathered from 2000 to 2020 across various countries categorised as developed, developing, economies in transition, and least-developed. The data collected for the study are analysed using the Wavelet coherence methodology. The findings reveal both bidirectional and unidirectional causality between the variables, which have evolved over time. Globally, a bidirectional relationship is present in the short-term, no causality in the medium-term and unidirectional causality in the long-term. Developed countries exhibit a two-way causality in the short-term, while no causality exists in the medium-term and long-term. Developing countries show a bidirectional relationship across all time frequencies. In economies in transition, a bidirectional relationship appears towards the end of the period over the short, medium, and long-term. The least developed countries show no causality in the short and long-term, but a one-way causality in the medium-term. Governments and the policymakers can implement environmental policies to mitigate carbon emissions through R&D. The findings suggest targeted and strategic strategies to enhance the impact of R&D on emissions reduction. Policymakers can use this analysis to prioritize funding for clean energy innovations, establish incentives for low-tech technologies, and promote international cooperation in green technology research. Additionally, focusing on these carbon mechanisms and aligning R&D efforts to support development goals can increase the effectiveness of climate policies, ensuring a balance between economic growth and environmental sustainability.
Open Access
The interconnectedness of energy consumption with economic growth: A granger causality analysis
(Elsevier Ltd, 2024-09-15) Perera, N; Dissanayake, H; Samson, D; Abeykoon, S; Jayathilaka, R; Jayasinghe, M; Yapa, S
In considering today's energy challenges, the link between the usage of renewable and non-renewable energy sources and economic growth has gained substantial policy attention. This research examines the complex relationship between these three variables to understand how non-renewable energy consumption and renewable energy consumption interact and what that means for economic growth. This study uses the Granger causality approach to explore the relationships between non-renewable energy consumption, renewable energy consumption, and economic development. It draws on a comprehensive dataset from the Word Bank database, including 152 nations from 1990 to 2019. The analysis is further disaggregated by four subgroups of countries; least developed, developed, transitional economies and developing countries. The result of this study provides valuable empirical evidence of uni-directional causality running from renewable energy consumption to economic growth and non-renewable energy consumption to economic growth in transitional economies. Furthermore, policymakers should focus on both variables when making decisions because the results show that energy consumption and economic growth are interconnected. Implementing global energy efficiency standards, reducing fossil fuel usage, and adopting regulatory measures are all viable policies for limiting adverse effects on the environment while encouraging economic development.

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