To Facilitate or Curb? The Role of Financial Development in China’s Carbon Emissions Reduction Process: A Novel Approach

Xing, Tiancai; Jiang, Qi–Chuan; Ma, Xuejiao

doi:10.3390/ijerph14101222

Cited by 87 publications

(47 citation statements)

References 98 publications

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“…Various indexes have been adopted by scholars based on their research objectives and data availability. Earlier studies mostly used a single proxy variable; scholars now generally adopt a series of indictors or construct a comprehensive indicator based on several existing indexes and relevant statistical techniques to measure financial development [33][34][35], as the empirical results may depend on how financial development is measured [23,33].…”

Section: Data Selectionmentioning

confidence: 99%

The Influence of Financial Development on Energy Consumption: Worldwide Evidence

2020

IJERPH

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In this study, we investigated the influence of overall financial development and its components on energy consumption using the panel data of 120 countries and the generalized method of moments (GMM). By dividing the sample into developed and developing countries, we further examined the national differences of the impact of financial development on energy consumption. The empirical results indicate that the overall financial development significantly positively impacts energy consumption from a worldwide perspective, and its two components (financial institution and the financial market) have the same effect. The analysis of national differences indicates that the financial development also positively impacts energy consumption in developing countries but with no obvious effect in developed countries. The results also suggest that financial development cannot be used to restrain the increase in energy consumption from the global perspective, and policymakers in developing countries must balance the relationship between the development of the financial sector and energy consumption.

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Section: Data Selectionmentioning

confidence: 99%

The Influence of Financial Development on Energy Consumption: Worldwide Evidence

2020

IJERPH

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“…These studies include (Boutabba, 2014;Jamel & Maktouf, 2017;Li, Zhang, & Ma, 2015;Ozturk & Acaravci, 2013;Saboori, Sulaiman, & Mohd, 2012;Zhang, 2011), while some studies found a negative relationship between financial development and CO2 emissions. These studies include (Mulali, Tang, & Oztur, 2015;Saidi & Mbarek, 2017;Xing, Jiang, & Ma, 2017). In the fourth stage, financial development and industrial production positively contribute to economic growth (Ang, 2008;Kedourie, 2013;Lakhera, 2016;Malinvaud, 1979;Sent a, 1966;Shucheng, 2017;Swanson & Lin, 2009) .…”

Section: B the Relationship Between Remittances And Co2 Emissionsmentioning

confidence: 99%

Does the inflow of remittances cause environmental degradation? Empirical evidence from China

Ahmad

Haq

Khan

et al. 2019

Economic Research-Ekonomska Istraživanja

125

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Remittances inflow plays a significant role in promoting the economic welfare of a country; it has a multidimensional effect on the economy and links with the carbon emissions. This study examines the possible asymmetric transmissions from remittances to carbon dioxide emissions (CO2) in China using time series data from 1980 to 2014. The Non-linear NARDL method is employed to check the longrun asymmetric relationship between remittances inflow and carbon emissions. The findings show that a positive shock in remittances causes an increase in CO2 emissions, while a negative shock in remittances causes a decrease in CO2 emissions. The results support the existence of an asymmetric cointegrating relationship between remittances and CO2 emissions in both short run and the long run. The NARDL dynamic multiplier graph assumes that positive remittances shocks are highe compared to the negative remittances shocks. It suggests that policymakers in China should consider remittances as a policy instrument especially designing strategies and policies related to sustainable environmental quality in the long run.

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“…Moreover, other works [38,39] admit that financial development improved the level of pollution. Park et al [40] also concur with the variation of the EKC after analyzing the effect of economic growth in association with toxic emissions.…”

Section: Literature Reviewmentioning

confidence: 99%

The Nexus between Carbon Emissions, Energy Use, Economic Growth and Financial Development: Evidence from Central and Eastern European Countries

Manta¹,

Florea

Bădîrcea

et al. 2020

Sustainability

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The aim and novelty of this study consist of estimating the nexus between CO2 (carbon dioxide) emissions, energy use, economic growth, and financial development for ten Central and Eastern European countries (CEEC) over the 2000–2017 period, starting from Environmental Kuznets Curve (EKC) theory. The Fully Modified Ordinary Least Squares (FMOLS) method was used for testing the cointegration relationship. Granger causality estimation based on the Vector Error Correction Model (VECM) and Pairwise Granger causality test were applied to identify the causality relationships between the variables and to identify the direction of causality. The implementation of the tests led to significant conclusions. In the long run, the levels of CO2 emissions and energy use do not have any influence on economic growth. Furthermore, there is a bidirectional causality among economic growth in terms of GDP and financial development variables. Thus, increasing financial development will generate more CO2 emissions and more energy use, and increasing economic growth will lead to rising financial development. In the short run, increasing financial development will generate more CO2 emissions and will lead to increased energy use and economic growth. Also, a bidirectional causality is being revealed between financial development and CO2 emissions. This indicates that financial development may help to reduce CO2 emissions.

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To Facilitate or Curb? The Role of Financial Development in China’s Carbon Emissions Reduction Process: A Novel Approach

Cited by 87 publications

References 98 publications

The Influence of Financial Development on Energy Consumption: Worldwide Evidence

The Influence of Financial Development on Energy Consumption: Worldwide Evidence

Does the inflow of remittances cause environmental degradation? Empirical evidence from China

The Nexus between Carbon Emissions, Energy Use, Economic Growth and Financial Development: Evidence from Central and Eastern European Countries

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