The Dynamic Impact of Natural Resource Rents, Financial Development, and Technological Innovations on Environmental Quality: Empirical Evidence from BRI Economies

Zuo, Siming; Zhu, Mingxia; Xu, Zhexiao; Oláh, Judit; Lakner, Zoltán

doi:10.3390/ijerph19010130

Cited by 52 publications

(22 citation statements)

References 80 publications

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“…Column (1) displays the regression results of Eq (3) , and financial development has been empirically found to be positively related to CO2 emissions, and each additional unit of financial development will lead to an increase of 26.8% per capita CO2 emissions. The findings are in line with [ 47 – 49 ]. The main reason can be considered as the development of the financial sector stimulates CO2 emissions by promoting economic growth via savings and investment.…”

Section: Resultssupporting

confidence: 91%

“…The extent to which financial development affects CO2 emissions may vary country-by-country. Thus we divided the sample into two groups of developing and developed countries for regression to test the heterogeneity sourced from different types of countries [ 47 ]. Developing countries include Argentina, Brazil, China, India, Indonesia, Turkey, Saudi Arabia, South Africa, Russia and Mexico; developed countries include Australia, Canada, France, Germany, Japan, South Korea, Italy, the United States and the United Kingdom.…”

Section: Resultsmentioning

confidence: 99%

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Does governance impact on the financial development-carbon dioxide emissions nexus in G20 countries

et al. 2022

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In the past 40 years, the continuous strengthening of the greenhouse effect has led to a significant increase in the global average temperature. Although people’s understanding of climate change has been strengthened, the world has not yet witnessed a significant decline in pollutant emissions; hence it is imperative to get to the root cause. This paper is based on the STIRPAT model framework and uses the panel data of G20 countries over the period 1999–2019 to examine the role of financial development on carbon emissions under good governance. The results show that financial development significantly promotes carbon dioxide emissions, and the impact presents an inverted “U”-shaped trend when the quadratic term of financial development is introduced. Surprisingly, governance quality indicators increase carbon emissions. However, financial development accompanied by good governance suppresses carbon emissions. Moreover, according to the grouped results of developed and developing countries, different nations should adopt differentiated strategies in development finance to implement the carbon emission targets proposed by the G20. In addition, this paper also confirms the existence of the Environmental Kuznets Curve hypothesis. In light of this, policymakers should optimize the quality of governance while shifting their agendas toward environmentally responsible financial practices to promote financial development to improve environmental quality effectively. Furthermore, strengthen international cooperation, enhance public environmental protection concepts, and take joint actions to achieve low-carbon and win-win results.

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Section: Resultssupporting

confidence: 91%

Section: Resultsmentioning

confidence: 99%

Does governance impact on the financial development-carbon dioxide emissions nexus in G20 countries

et al. 2022

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“…Hence, a critical question is which economies should be included in our sample. The Chinese government launched the Belt and Road Initiative (BRI) in 2013, in which China-funded USD 760 billion from its launch in 2013 to the end of 2019 [25]. The BRI is a global strategy for regional integration and investments in infrastructure promoted by the Chinese government.…”

Section: Introductionmentioning

confidence: 99%

National Culture and Financial Inclusion: Evidence from Belt and Road Economies

et al. 2022

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Financial Inclusion is a key factor in achieving the sustainable development goals of the United Nations. The research in the area of financial inclusion is becoming more critical for scholars and policymakers. In previous studies, effects of formal institutions on financial inclusion have been explored. However, influence of informal institutions (culture) on financial inclusion remained untapped. To fill this gap, we investigate how national culture affects the financial inclusion of 81 Belt and Road economies using 17 years of data from 2004 to 2020. The empirical findings of the two-stage least square (2SLS) show that Hofstede’s cultural dimensions are significantly associated with financial inclusion with different signs and levels of magnitude. We find that financial inclusion is lower in countries where uncertainty avoidance and power distance is high and that the opposite is true for individualism and masculinity. The overall results are reliable to a series of robustness checks and provide a useful basis for policymakers, regulatory agencies, and other stakeholders in achieving the sustainable development goal of financial inclusion in Belt and Road countries.

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“…As the Belt and Road Initiative continues to advance regional integration [4,5], linking China with Central Asia, Europe, the Middle East, and Africa [6,7], the core area of the Silk Road Economic Belt (specifically "Xinjiang, China", hereinafter referred to as the "core area") serves as the hub of scientific and technological exchanges and cooperation between China and Central Asian countries, and its independent innovation system in China, the core area of the Silk Road Economic Belt (specifically referred to as "Xinjiang, China", hereinafter referred to as the "core area"), serves as the hub of scientific and technological exchanges and cooperation between China and Central Asian countries. The core area plays a significant role in China's independent innovation system.…”

Section: Introductionmentioning

confidence: 99%

Research on the Governance Mechanism of Independent Innovation Network in the Core Area of Silk Road Economic Belt

et al. 2022

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The increasing competition in global scientific and technological innovation and the continuous promotion of the “Belt and Road initiatives” have created new opportunities for the improvement in innovation capabilities in the core area of the Silk Road Economic Belt but have also brought new challenges. This paper first starts from the market and government perspective and sorts out the formation mechanism of an innovation network. Subsequently, based on the development practice of the innovation network in the core area of the Silk Road Economic Belt, we applied the grounded theory to reveal the development constraints of the innovation network in the core area and explore the corresponding network governance mechanism. Subsequently, we applied a survey study to test our conceptual model. We empirically found the innovation network structure governance and innovation relation governance impacting mechanism in a market-led and government guidance context. The study found that: first, the market-led environment and government guidance jointly impact the formation of an innovation network. Second, the network structure governance and network relation governance of the innovation network can address the development constraints faced by the current innovation network to a certain extent, thereby improving the firm’s innovation performance. Finally, it is found that both the market-led environment and government guidance play a positive role in regulating the impact of network structure governance and network relation governance on the firm’s innovation performance. The above conclusions expand the application scenarios of innovation network governance theory in underdeveloped areas and, at the same time, provide new theoretical knowledge increments for the formation mechanism of innovation networks and also provide corresponding theoretical guidance for the improvement of the firm’s innovation performance in the core area.

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The Dynamic Impact of Natural Resource Rents, Financial Development, and Technological Innovations on Environmental Quality: Empirical Evidence from BRI Economies

Cited by 52 publications

References 80 publications

Does governance impact on the financial development-carbon dioxide emissions nexus in G20 countries

Does governance impact on the financial development-carbon dioxide emissions nexus in G20 countries

National Culture and Financial Inclusion: Evidence from Belt and Road Economies

Research on the Governance Mechanism of Independent Innovation Network in the Core Area of Silk Road Economic Belt

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