Financial development, industrial structure and environmental sustainability: new evidence from Japan

The Role of Financial Sector Development and Educational Attainment in the Achievement of Economic Sustainability: Evidence from BRICS Economies

“…The empirical results are thus mixed in parallel with the theoretical considerations, but the differences have resulted from country-specific characteristics, methodological approaches, and different study periods. The influence of financial development on the main components of sustainable development has also been investigated by many researchers, but the researchers have usually explored the influence of financial sector development on environment sustainability proxied by CO 2 emissions, greenhouse gas emissions, ecological footprint, and environmental performance indicators [53][54][55][56][57][58][59][60][61][62][63][64][65][66][67][68][69]. The recent empirical literature about the relationship between financial sector development and environmental degradation is given in Table 2, but the literature has been inconclusive.…”

“…The recent empirical literature about the relationship between financial sector development and environmental degradation is given in Table 2, but the literature has been inconclusive. On the one hand, Shahbaz et al [53], Habiba and Xinbang [65], and Pei et al [67] found a negative influence of financial sector development on environmental quality, but Bui [57], Bayar et al [58], Dong and Akhtar [59], Xu et al [61], Musah et al [63], Ozturk and Ullah [66], and Qalati et al [68] found a positive influence. Furthermore, Ntow-Gyamfi et al [56] and Wang et al [64] revealed an inverted U interplay between environmental degradation and financial development.…”