Financial development and environmental quality in UAE: Cointegration with structural breaks

Charfeddine, Lanouar; Khediri, Karim Ben

doi:10.1016/j.rser.2015.07.059

Cited by 389 publications

(173 citation statements)

References 72 publications

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“…Specifically, this study indicates that financial development tends to increase carbon emissions in Saudi Arabia, Oman, Kuwait and Bahrain, but decreases CO2 emissions in the UAE and Qatar. While specifically focusing on the UAE, Charfeddine and Khediri (2016) report an inverted-U shaped relationship between financial development and CO2 emissions. Some of the studies in developed countries also show mixed and neutral results.…”

Section: Financial Development-carbon Emissions Nexusmentioning

confidence: 99%

Environmental degradation in France: The effects of FDI, financial development, and energy innovations

2018

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This paper explores the determinants of carbon emissions in France by accounting for the significant role played by foreign direct investment (FDI), financial development, economic growth, energy consumption and energy research innovations in influencing CO2 emissions function. In this endeavour, we employ the novel SOR ) unit root test on French time series data over the period 1955-2016 to examine the order of integration in the presence of sharp and smooth structural breaks in the variables. We also apply the bootstrapping bounds testing approach, recently developed by McNown et al. (2018), to investigate the presence of cointegration and the empirical findings underscore the presence of cointegration among the time series. Moreover, we find that FDI has a positive impact, while energy research innovations have a negative impact, on French carbon emissions. Financial development lowers carbon emissions, thereby improving the French environmental quality. FDI degrades the environment, and thus supports the pollution-haven hypothesis in France. Similarly, financial development suggests that financial stability is a required condition for improving environmental quality, so are energy research innovations. Contrarily, energy consumption is positively linked with carbon emissions. However, the relationship between economic growth and CO2 emissions is an inverted-U, which is a validation of the environmental Kuznets curve (EKC).

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Section: Financial Development-carbon Emissions Nexusmentioning

confidence: 99%

Environmental degradation in France: The effects of FDI, financial development, and energy innovations

2018

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“…The United Arab Emirates (UAE) is one of the fastest growing nations in the Gulf, with very high per capita waste generation and greenhouse gas emissions [14,15]. The UAE has become an EM leader in the GCC [6], and has taken steps to become more sustainable, including pledging to reduce overall carbon dioxide emissions by 30% by 2030 [14]. The UAE Ministry of Climate Change and Environment has developed a National Climate Change Plan of the United Arab Emirates for 2017-2050 [16], which builds on the UAE Green Agenda 2030 [17] and UAE Vision 2021 [18].…”

Section: Our Study Context: the United Arab Emirates An Emerging Aramentioning

confidence: 99%

Outcomes and Key Factors of Success for ISO 14001 Certification: Evidence from an Emerging Arab Gulf Country

2019

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The objectives of this research were: (1) To examine the outcomes and key factors of success (KFS) related to ISO 14001 certification, (2) to compare and contrast these in private organizations (PRIVOs) and public organizations (PUBOs), and (3) in the under-explored context of an Arab Gulf country with an emerging economy: The United Arab Emirates. We used an exploratory, qualitative research approach, based on semi-structured interviews with the environmental managers of 14 UAE organizations from the private and public sector. The five major outcomes of ISO 14001 certification were improved: (1) Environmental performance, (2) organizational reputation and relationships with stakeholders, (3) organizational efficiency, (4) environmental management (EM) practices, and (5) environmental awareness. These outcomes were shared by PRIVOs and PUBOs, although improved resource management, improved relations with stakeholders, and improved EM practices were more common in PUBOs, and improved organizational efficiency was more common in PRIVOs. The six KFS for implementation were: (1) Senior management's support, (2) employees' awareness, involvement and competence, (3) government initiatives and commitment, (4) sufficient organizational resources, (5) adoption of a continuous, integrative, and collaborative approach, and (6) the use of external consultants. These KFS were shared by PRIVOs and PUBOs, although government initiatives and commitment were more common in PUBOs, and sufficient resources were more common in PRIVOs. Our study contributes to a better understanding of environmental management system implementation in emerging countries in general, and in Arab Gulf countries particularly. Our study has implications for business leaders, policy makers, EMS professionals, and educators in the UAE and other emerging countries.

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“…Their empirical results prove the presence of a positive causality between CO2 emissions and economic indicators. Charfeddine and Ben Khediri (2016) utilize unit root tests with multiple structural breaks and cointegration techniques switching scheme considering for one and two unknown regime moves to examine the relationship between CO2 emissions, electricity use, economic development, financial development, trade liberalization, and urbanization in the UAE during the period 1975-2011. The empirical results of their study show the existence of Environmental Kuznets Curve (EKC).…”

Section: Literature Reviewmentioning

confidence: 99%

“…The empirical results of their study show the existence of Environmental Kuznets Curve (EKC). In addition, Charfeddine and Ben Khediri (2016) explain an inverted U relationship amid financial development and emissions of carbon dioxide. In addition, they find that electricity utilization, urbanization, and openness trade help to improve environmental quality.…”

Section: Literature Reviewmentioning

confidence: 99%

The Impact of Economic Growth on Pollution in Developed European Countries

Jamel

Maktouf

2018

JEMS

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In our study, we empirically examine the influence of economic growth on environmental degradation in the developed European economies through the period of study beginning in 1985 to 2015. For the econometric methodology, we employ the Cobb-Douglas production function. From the tests of cointegration (Kao and Fisher tests), we corroborate the existence of a cointegration nexus among the economic growth and pollution. Also, we confirm the hypothesis of basic EKC which assumes the existence of a bidirectional relationship between economic growth and emissions of CO2 in developed European countries during the period of study . In addition, we conclude that there is a two-way causal nexus among energy consumption and pollution in developed European countries.

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Financial development and environmental quality in UAE: Cointegration with structural breaks

Cited by 389 publications

References 72 publications

Environmental degradation in France: The effects of FDI, financial development, and energy innovations

Environmental degradation in France: The effects of FDI, financial development, and energy innovations

Outcomes and Key Factors of Success for ISO 14001 Certification: Evidence from an Emerging Arab Gulf Country

The Impact of Economic Growth on Pollution in Developed European Countries

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