Mortha, A., Arimura, T.H., Takeda, S., Steubing, B., Chesnokova, T. (2025). Industrial relocation or shorter shipping routes? Examining the impact of the EU’s Carbon Border Adjustment Mechanism on global emissions using structural gravity. Economic Analysis and Policy 87, 1708-1741. https://doi.org/10.1016/j.eap.2025.07.019 

Mortha A., Arimura T.H. (2024). Purchase or generate? An analysis of inter-fuel substitution and electricity generation in Japanese manufacturing plants. Energy Economics 139, 107929.https://doi.org/10.1016/j.eneco.2024.107929

Mortha A., Yajima N., Arimura T.H. (2024). Impact of the Feed-in-Tariff Exemption on Energy Consumption in Japanese Industrial Plants. Japan & the World Economy 69, 101241. https://doi.org/10.1016/j.japwor.2024.101241

Taghizadeh-Hesary, F., Li, Y., Rasoulinezhad, E., Mortha, A., Long, Y., Lan, Y., Zhang, Z., Li, N., Zhao, X., & Wang, Y. (2022). Green finance and the economic feasibility of hydrogen projects. International Journal of Hydrogen Energy  47(58), 24511-24522. https://doi.org/10.1016/j.ijhydene.2022.01.111

Mortha, A., Taghizadeh-Hesary, F., & Vo, X. V. (2021). The impact of a carbon tax implementation on non-CO2 gas emissions: the case of Japan. Australasian Journal of Environmental Management, 28(4), 355–372.    https://doi.org/10.1080/14486563.2021.1991498

Taghizadeh-Hesary, F., Sarker, T., Yoshino, N., Mortha, A., & Vo, X. V. (2021). Quality infrastructure and natural disaster resiliency: A panel analysis of Asia and the Pacific. Economic Analysis and Policy, 69, 394–406.     https://doi.org/10.1016/j.eap.2020.12.021

Taghizadeh-Hesary, F., Yoshino, N., Mortha, A., Chiu, A., & Naderi, N. (2020). Internal and external determinants of housing price boom in Hong Kong. Buletin Ekonomi Moneter Dan Perbankan, 23(4), 597–620.     https://doi.org/10.21098/BEMP.V23I4.1043 

Taghizadeh-Hesary, F., Mortha, A., Farabi-Asl, H., Sarker, T., Chapman, A., Shigetomi, Y., & Fraser, T. (2020). Role of    energy finance in geothermal power development in Japan. International Review of Economics & Finance, 70, 398–    412. https://doi.org/10.1016/j.iref.2020.06.011

Morimura, S., Mortha, A., Arimura, T.H. (2023). Carbon Pricing and Regional Linkages. In Regional Linkages and Technology - Does technology mitigate conflicts? Waseda University Publishing [In Japanese]

Taghizadeh-Hesary F., Mortha A., Yoshino N., Phoumin H. (2021). Utilising Green Finance for Sustainability: Empirical Analysis of the Characteristics of Green Bond Markets. In Energy Sustainability and Climate Change in ASEAN. Economics, Law, and Institutions in Asia Pacific (pp. 169-194) . Springer, Singapore.     https://doi.org/10.1007/978-981-16-2000-3_7

Sarker, T., Taghizadeh-Hesary, F., Mortha, A., & Saha, A. (2021). The Role of Fiscal Incentives and Market-Based Incentives in Promoting Energy Efficiency in the Industrial Sector: Case Studies from Asia. In Economics, Law, and Institutions in Asia Pacific (pp. 131–149). https://doi.org/10.1007/978-981-16-3599-1_6

Taghizadeh-Hesary, F., Yoshino, N., Kim, C. J., & Mortha, A. (2021). Necessity of Developing a Comprehensive Evaluation Framework for State-owned enterprises. In Reforming State-Owned Enterprises in Asia (pp. 185–202). Springer Singapore. https://doi.org/10.1007/978-981-15-8574-6_10  

Taghizadeh-Hesary, F., Sarker, T., Mortha, A., Kim, C.J. (2021). Energy Security and Economic Integration: A Comparative Analysis of Europe and Asia-Pacific. In Economic Integration in Asia and Europe: Lessons and    Policies (pp. 593-620). Tokyo: Asian Development Bank Institute.      https://www.adb.org/sites/default/files/publication/723506/adbi-book-economic-integration-asia-europe-lessons-poli cies.pdf

Hasset K., Mba Mebiame R., Mortha A., Nakai M., Ahlborg H., Michael K., Ozdemir U. Tikoudis I., Lamhauge N.,Osunmuyiwa O., Arimura T., & Johnstone N. (2024). Household energy choices - New empirical evidence and policy implications for sustainable behaviour. (OECD Environment Working Papers No. 247). https://doi.org/10.1787/534a14fe-en 

Mortha, A., Arimura, T.H. (2024). Feed-in-Tariff backfires: implicit carbon pricing and inter-fuel substitution in manufacturing. (WINPEC Working Paper No.E2404). https://www.waseda.jp/fpse/winpec/assets/uploads/2024/05/cac80381cf92d8ffbee862b08ccfb7fd.pdf 

Mortha, A., Arimura, T.H., Takeda, S., Chesnokova, T.  Effect of a European Carbon Border Adjustment Mechanism on the APAC Region: A structural gravity analysis. RIETI Highlight Vol.98 (Winter 2024). Retrieved from https://www.rieti.go.jp/jp/about/highlight/Highlight_98.pdf

Mortha, A., Arimura, T.H., Takeda, S., Chesnokova, T. (2023). Effect of a European Carbon Border Adjustment Mechanism on the APAC Region: A structural gravity analysis. (RIETI Discussion Paper No. 23-E-058). https://www.rieti.go.jp/jp/publications/dp/23e058.pdf