Abstract: This study aimed to explore the relationship between
energy consumption and value-added in Iran’s industry sector during
the time period 1973-2011. Annual data related to energy
consumption and value added in the industry sector were used. The
results of the study revealed a positive relationship between energy
consumption and value-added of the industry sector. Similarly, the
results showed that there is one-way causality between energy
consumption and value-added in the industry sector.
Abstract: The current study explored the effect of economic
development, financial development and institutional quality on
environmental destruction in upper-middle income countries during
the time period of 1999-2011. The dependent variable is logarithm of
carbon dioxide emissions that can be considered as an index for
destruction or quality of the environment given to its effects on the
environment. Financial development and institutional development
variables as well as some control variables were considered. In order
to study cross-sectional correlation among the countries under study,
Pesaran and Friz test was used. Since the results of both tests show
cross-sectional correlation in the countries under study, seemingly
unrelated regression method was utilized for model estimation. The
results disclosed that Kuznets’ environmental curve hypothesis is
confirmed in upper-middle income countries and also, financial
development and institutional quality have a significant effect on
environmental quality. The results of this study can be considered by
policy makers in countries with different income groups to have
access to a growth accompanied by improved environmental quality.