Environmental consequences of financial development in emerging and growth-leading economies: A multidimensional assessment

Khan, Muhammad Atif; Khan, Muhammad Asif; Ahmed, Masood; Khan, Karamat

doi:10.1016/j.bir.2021.10.003

Cited by 33 publications

(10 citation statements)

References 52 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…To name a few includes. 14,[72][73][74][75] The impact of life expectancy at birth on environmental quality could be positive or negative depending on whether the nations are concerned about the future of their descendants or not. The more people are concerned about their longevity i.e., life expectancy at birth, the more they are willing to invest in environmental quality.…”

Section: Resultsmentioning

confidence: 99%

“…Those who find an opposite relationship between life expectancy and environmental sustainability maintain that the greediness for accumulating more physical and human capital goes side by side with the increase in life expectancy and as a result environmental degradation. 12 A plethora of studies can be found in the recent literature that investigates, in general, the role of environmental emissions on economic development, 13 the role of environmental taxes and technological innovations on the carbon-free economy, 14 the role played by the renewable energy, capital formation, and labor force among others on the economic growth of developed and developing countries, 15 the adverse impact of waste generation on environmental sustainability 16 as well as the role of the environmental regulation policies and industry 4.0 technologies on practices of circular economy. 14,17 These all are important papers on environmental sustainability, however, these are related to other aspects of environmental sustainability than an ecological footprint.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

Economic, social, and political determinants of environmental sustainability: Panel data evidence from NEXT eleven economies

Mughal

Wen

Zhang

et al. 2022

Energy & Environment

View full text Add to dashboard Cite

This paper aims to investigate the impact of social, economic, and political variables on per capita ecological footprint consumption in the NEXT Eleven economies over the period 1984- 2018. The study utilized the dynamic heterogeneous panel estimators of Cross-Sectionally Augmented Auto-regressive Distributive Lag (CS-ARDL) along with the estimator with a multifactor error structure. The study also estimated the cross-Sectionally augmented distributed lag (CS-DL) model while for robustness check the augmented mean group (AMG) and cross-Sectionally augmented error correction method (CS-ECM) is also considered. The study finding maintains that the impact of GDP per capita, multifaceted phenomena of financial development, and military expenditure is positive and significant suggesting that a unit increase in these variables deteriorates the environment in the NEXT Eleven economies. In contrast, higher life expectancy and government stability improve the environment in the long run. The findings of the study suggest that eco-friendly technologies to be used in the production process, as well as projects using outdated technologies, should be discouraged along with the assurance of government stability and reduction of military expenditure in the NEXT Eleven economies.

show abstract

Section: Resultsmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Economic, social, and political determinants of environmental sustainability: Panel data evidence from NEXT eleven economies

Mughal

Wen

Zhang

et al. 2022

Energy & Environment

View full text Add to dashboard Cite

show abstract

“…Hsu, et al [41] also found financial liberalization and openness are essential to enhance pollution control incentives. Financial openness could also enhance EQ by implementing effective governance practices, as claimed by Ahmad, et al [42]. Hailiang, et al [43] revealed that sustainability, financial openness, and renewable energy principles heavily influence significant investments and funding for environmentally friendly development.…”

Section: Literature Review and Hypothesis Developmentmentioning

confidence: 98%

Nexus between Innovation–Openness–Natural Resources–Environmental Quality in N-11 Countries: What Is the Role of Environmental Tax?

Qamruzzaman,

Karim,

Kor

2024

Sustainability

View full text Add to dashboard Cite

This research investigates the intricate relationship between financial openness, natural resources, and carbon neutrality in the N-11 countries. It provides insights into how environmental tax and innovation can drive carbon neutrality in these nations, thus advancing our understanding of the nexus among financial openness, natural resources, and carbon neutrality. The study aims to offer policymakers perspectives on formulating policies to foster sustainable economic development and environmental conservation in the N-11 nations. The discourse highlights the environmental implications of foreign direct investment (FDI) and trade openness, revealing a complex interplay between economic development, technological innovation, and environmental sustainability. While FDI can facilitate technological transfers and managerial advancements that enhance resource efficiency and promote environmentally friendly practices, its environmental impact varies based on regulatory frameworks and enforcement mechanisms. In countries with weak environmental regulations, FDI may lead to negative outcomes such as pollution hotspots, resource depletion, and ecosystem degradation. Similarly, trade openness can exacerbate environmental degradation through increased production, energy consumption, and waste generation. However, both FDI and trade openness can contribute positively to environmental sustainability when coupled with effective environmental policies, investment in green technology, and the promotion of sustainable practices. Thus, policymakers must strike a balance between economic development and environmental protection by implementing stringent environmental regulations, promoting clean technology transfer, and fostering sustainable development practices domestically and internationally. This research offers valuable insights for policymakers aiming to navigate the complexities of achieving carbon neutrality while ensuring sustainable economic growth in the N-11 countries.

show abstract

“…Theoretically, FD may affect environmental quality either positively or negatively. Documented by Tamazian et al, (2009), FD increases environmental quality by reducing CO 2 emissions through financing renewable energy projects and environmentally friendly technological innovations while FD boosts economic growth, which in turn accelerates energy consumption and CO 2 emissions reducing environmental quality (Ahmad, et al 2020;Khan et al, 2022).…”

Section: Literature Reviewmentioning

confidence: 99%

The Nexus Between Renewable Energy Consumption, Financial Development, and Trade Openness Based on Environmental Quality in Uganda: An Application of the ARDL

Mayanja,

Arinaitwe,

Kasaijja

et al. 2024

IJEEP

View full text Add to dashboard Cite

Environmental degradation is attributed to human activities associated with economic development. This study examines renewable energy consumption (REC), financial development (FD), trade openness, and environmental quality nexus in Uganda over the period 1990-2019 using the Autoregressive Distribution Lag (ARDL). Findings show that REC improves environmental quality both in the short and long run. In addition, while trade openness is negatively related to environmental quality in the short and long run, a negative correlation exists between FD and environmental quality only in the long run. Furthermore, economic growth has a positive relationship with environmental quality in the short run while in the long run, GDP2 improves environmental quality. However, the results from the study find no statistical relationship between FDI and environmental quality, and thus neither the pollution haven nor pollution halo hypotheses are confirmed in the Ugandan case. This paper does not only recommend investing more in renewable energy development to improve the quality of the environment but also in financial sector development to support investments that promote a low-carbon and green economy.

show abstract

Environmental consequences of financial development in emerging and growth-leading economies: A multidimensional assessment

Cited by 33 publications

References 52 publications

Economic, social, and political determinants of environmental sustainability: Panel data evidence from NEXT eleven economies

Economic, social, and political determinants of environmental sustainability: Panel data evidence from NEXT eleven economies

Nexus between Innovation–Openness–Natural Resources–Environmental Quality in N-11 Countries: What Is the Role of Environmental Tax?

The Nexus Between Renewable Energy Consumption, Financial Development, and Trade Openness Based on Environmental Quality in Uganda: An Application of the ARDL

Contact Info

Product

Resources

About