Is there a tradeoff between financial globalization, economic growth, and environmental sustainability? An advanced panel analysis

Kihombo, Shauku; Vaseer, Arif I.; Ahmed, Zahoor; Chen, Songsheng; Kırıkkaleli, Derviş; Adebayo, Tomiwa Sunday

doi:10.1007/s11356-021-15878-z

Cited by 124 publications

(61 citation statements)

References 86 publications

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“…As a result, economic expansion can be considered to damage the environment at first before benefiting it afterward. This result is consistent with the work of Lin and Zhu (2019) for Chinese province analysis and (Kihombo et al, 2021) WAME nations.…”

Section: Findings and Discussionsupporting

confidence: 92%

Modeling the Relationship Between Economic Complexity and Environmental Degradation: Evidence From Top Seven Economic Complexity Countries

Martins

Adebayo

Mata

et al. 2021

Front. Environ. Sci.

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The continuous growth in CO2 emissions of nations around the globe has made achieving the aim of sustainable development extremely challenging. Therefore, the current research assesses the connection between CO2 emissions and economic complexity in the top 7 economic complexity countries while taking into account the role of economic growth, renewable energy consumption, and globalization for the period between 1993 and 2018. The research aims to answer the following questions: 1) What is the association between CO2 and the regressors in the long-run? 2) What are the effects of renewable energy consumption, economic growth, economic complexity, and globalization on CO2 emissions? The research utilized the CS-ARDL, CCEMG and panel causality approaches to investigate these interconnections. The empirical outcomes revealed that economic growth and economic complexity increase CO2 emissions while renewable energy consumption and globalization mitigate CO2 emissions. The outcomes of the causality test revealed a feedback causal connection between economic growth and CO2, while a unidirectional causality was established from economic complexity, globalization and renewable energy consumption to CO2 emissions in the top 7 economic complexity countries.

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Section: Findings and Discussionsupporting

confidence: 92%

Modeling the Relationship Between Economic Complexity and Environmental Degradation: Evidence From Top Seven Economic Complexity Countries

Martins

Adebayo

Mata

et al. 2021

Front. Environ. Sci.

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“…They established that financial globalization helps to increase the ecological footprint. However, the research of Kihombo et al (2021) opposes this outcome. They established a negative relationship between financial globalization and ecological footprint in WAME (West Asian and the Middle East) economies spanning between 1990 and 2017.…”

Section: Financial Globalization and Environmental Degradationmentioning

confidence: 99%

Load Capacity Factor and Financial Globalization in Brazil: The Role of Renewable Energy and Urbanization

Salem

Awosusi

et al. 2022

Front. Environ. Sci.

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To mitigate environmental challenges and fulfill the Sustainable Development Goals, a broader and holistic ecological assessment is required. As a result, this research utilizes the load capacity factor, which is a distinct proxy of environmental deterioration that offers a detailed environmental evaluation measurement by comparing biocapacity and ecological footprint simultaneously. Moreover, the load capacity factor provides the combined attributes of the demand and supply-side of environmental quality. Therefore, this research scrutinized the effect of financial globalization, urbanization, economic growth, and renewable and nonrenewable energy usage on load capacity factor for the period stretching between 1970 and 2017 in Brazil. The bounds testing procedure for cointegration in combination with the critical approximation p-values of Kripfganz and Schneider (2018) disclosed a cointegrating association between load capacity and its regressors. The outcome of the ARDL method uncovered that economic growth, non-renewable and renewable energy reduce the load capacity factor, whereas urbanization has no impact on load capacity factor in Brazil. However, financial globalization has a positive effect on load capacity factor in Brazil. Finally, the study uses the spectral causality test to assess the causality interaction between the observed parameters. The policymakers should take advantage of the opportunity by developing policies that encourage the openness of the economy to foreign investors.

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“…Indeed, the world was identified as the most critical market concern of the 1990s [15]. Since then, it has spawned the idea of "Go Green," which is a worldwide buzzword among academics, the financial and environmental, and the public because of disturbing climate change and global warming [10,[16][17][18][19]. This can be seen in the case of industries and other financial institutions where environmental issues affect living beings, such as global warming, acid rain, air and water pollution, ozone layer depletion, and climate change, and these are addressed through voluntary codes of conduct, including the United Nations Environment Programme-Finance Initiative (UNEP-FI), the Equator Principles for Project Finance, and others [20].…”

Section: Literature Review and Hypotheses Developmentmentioning

confidence: 99%

Linking Green Human Resource Practices and Environmental Economics Performance: The Role of Green Economic Organizational Culture and Green Psychological Climate

Shah

Jiang

et al. 2021

IJERPH

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An eco-friendly environment with green strategies can help to achieve better environmental performance. However, literature on the relationship between green human resource management practices (GHRMP) and sustainable environmental efficiency (SEF) is limited. Moreover, there is limited knowledge about the factors that could mediate the relationship between GHRMP and SEF. Therefore, the present study examines the impact of green human resource management practices mediating through green psychological climate (GPC) and green organizational culture (GOC) for better environmental efficacy. For this purpose, the primary data on variables are collected by using structured assessment tools and analyzed through regression models. Unlike previous studies, this study adopts a mediation model and unfolds not only the role of green human resource practices in psychological climate and green organizational culture but also clarifies the mediating role of GPC and GOC in sustainable environmental efficiency. The findings unfolded that ecological factors such as green psychological climate, green organizational culture, and sustainable environmental efficiency are positively affected by green human resources management. In addition, green organizational culture and green psychological climate positively mediate the relationship between GHRMP and SEF. This study recommends adopting green human resource management strategies and increasing technical innovations to improve sustainability and economic performance.

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Is there a tradeoff between financial globalization, economic growth, and environmental sustainability? An advanced panel analysis

Cited by 124 publications

References 86 publications

Modeling the Relationship Between Economic Complexity and Environmental Degradation: Evidence From Top Seven Economic Complexity Countries

Modeling the Relationship Between Economic Complexity and Environmental Degradation: Evidence From Top Seven Economic Complexity Countries

Load Capacity Factor and Financial Globalization in Brazil: The Role of Renewable Energy and Urbanization

Linking Green Human Resource Practices and Environmental Economics Performance: The Role of Green Economic Organizational Culture and Green Psychological Climate

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