Examining the direct and indirect effects of financial development on CO2 emissions for 88 developing countries

Khan, Muhammad; Öztürk, İlhan

doi:10.1016/j.jenvman.2021.112812

Cited by 206 publications

(113 citation statements)

References 69 publications

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“…Several studies examine the econometric relationship between economic growth carbon dioxide emissions. Al-mulali et al (2015) examined Europe, Khan and Ozturk (2021) Tourism produces around 5% of global CO 2 emissions. Transportation contributes for 75% of the sector's emissions (of which 50% are from air transport), while accommodation accounts for 22% and rest of the activity-related tourism account for 4%.…”

Section: Literature Reviewmentioning

confidence: 99%

RETRACTED ARTICLE: The spillover of tourism development on CO2 emissions: a spatial econometric analysis

Jiaqi

Song

Yu³

et al. 2021

Environ Sci Pollut Res

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Climate change and tourism's interaction and vulnerability have been among the most hotly debated topics recently. In this context, the study focuses on how CO 2 emissions, the primary cause of global warming and climate change, respond to changes in tourism development. In order to do so, the impact of tourism development on CO 2 emissions in the most visited countries is investigated. A panel data from 2000 to 2017 for top 70 tourist countries are analysed using a spatial econometric method to investigate the spatial effect of tourism on environmental pollution. The direct, indirect, and overall impact of tourism on CO 2 emissions are estimated using the most appropriate generalized nested spatial econometric (GNS) method. The findings reveal that tourism has a positive direct effect and a negative indirect effect; both are significant at the 1% level. The negative indirect effect of tourism is greater than its direct positive effect, implying an overall significantly negative impact. Further, the outcome of financial development and CO 2 emissions have an inverted U-shaped and U-shaped relationship in direct and indirect impacts. Population density, trade openness, and economic growth significantly influence environmental pollution. In addition, education expenditure and infrastructure play a significant moderating role among tourism and environmental pollution. The results have important policy implications as they establish an inverted-U-shaped relationship among tourism and CO 2 emissions and indicate that while a country's emissions initially rise with the tourism industry's growth, it begins declining after a limit.

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Section: Literature Reviewmentioning

confidence: 99%

RETRACTED ARTICLE: The spillover of tourism development on CO2 emissions: a spatial econometric analysis

Jiaqi

Song

Yu³

et al. 2021

Environ Sci Pollut Res

View full text Add to dashboard Cite

show abstract

“… 2019 ; Khan and Ozturk. 2021 ; Shahbaz et al 2018 ; Solarin et al 2017 ) on the association between CO 2 emissions and economic growth have ignored the differential effects of a positive (negative) GDP shock on CO 2 emissions. This result complies with the study of (Udemba, et al 2021a , b ), who found that a negative shock in GDP improves the quality of the environment in the Chile.…”

Section: Findings and Discussionmentioning

confidence: 99%

“…Several studies (Akinsola et al 2021;Alola. 2019;Khan and Ozturk. 2021;Shahbaz et al 2018;Solarin et al 2017) on the association between CO 2 emissions and economic growth have ignored the differential effects of a positive (negative) GDP shock on CO 2 emissions.…”

Section: Nardl Long-and Short-run Outcomesmentioning

confidence: 99%

Asymmetric nexus between technological innovation and environmental degradation in Sweden: an aggregated and disaggregated analysis

Adebayo

Oladipupo

Kırıkkaleli

et al. 2022

Environ Sci Pollut Res

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The number of studies on the relationship between technological innovation and CO 2 emissions has gradually increased in recent years, although there is no clear agreement in the literature. Previous research has revealed both positive and negative consequences of technological innovation on the environment. Moreover, most researchers have used linear approaches to explore this connection, which can result in spurious outcomes when nonlinearities exist in the data. According to this background, this research utilizes asymmetric ARDL and spectral causality approaches to assess the asymmetric connection between technological innovation and CO 2 emissions in Sweden utilizing data from 1980 to 2018. In addition, the disaggregated asymmetric effects of technological innovation (patent resident and patent nonresident) on CO 2 are also captured in this study. The Nonlinear Autoregressive Distributed lag (NARDL) results showed that positive (negative) shocks in economic growth enhance environmental quality in Sweden. Furthermore, a positive (negative) shock in technological innovation causes a decrease (increase) in CO 2 . Similarly, a positive (negative) shock in patent nonresident and residents leads to a decrease (increase) in CO 2 emissions in Sweden. The outcomes from the spectral causality revealed that in the medium and long term, aggregate and disaggregate technological innovation can predict CO 2 emissions in Sweden. This study has significant policy implications for policymakers and the government in Sweden. Based on these findings, the study suggests that the government of Sweden should investment in technological innovation since it plays a vital role in curbing environmental degradation.

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“…The impact of non-fossil energy is considered to be the key factor to high CO 2 emissions and has a more obvious impact at higher quantiles, prompting the authorities to use renewable energy as a key factor to achieve the greatest growth. The research results are particularly interesting because it shows that the development and expansion of financial activities promote the development of the renewable energy sector through the provision of equity financing, debt, and capital loans for green projects (Charfeddine and Kahia, 2019;Khan and Ozturk, 2021;Wang et al, 2021). The findings of the study are also consistent with the results of the study by (Danish et al, 2019) for OECD countries and the study by (Zaman et al, 2021) for China and (Ryan et al, 2020) the economy-wide impact of renewable energy expansions in Chile's energy mix and (Mehmood, 2021) for G11 economies.…”

Section: Panel Quantile Regressionmentioning

confidence: 99%

Nexus Between Green Finance, Energy Efficiency, and Carbon Emission: Covid-19 Implications From BRICS Countries

et al. 2021

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The threats of climatic change on life, health, and the environment have been regarded by the joint consensus of scholars in the recent decades. With the advancement of global green development, green finance has paved the way for the government to respond to the challenges of climate change by providing mature financial services, appropriate financing, investment, and project funds related to environmental protection. In this context, green finance was proposed, and the relationship between green finance, renewable energy, and carbon emissions in the BRICS countries from 2000 to 2018 was further studied based on the quantile regression model. The presence of cross-sectional dependence in panel results is tested through CD and LM methods. The findings show the negative effect of green finance and non-fossil energy consumption on CO2 emissions. Furthermore, economic growth, trade openness, energy consumption, and foreign direct investment increase the CO2 emissions. Finally, the research results confirm that green finance is the best financial strategy to reduce carbon dioxide emissions.

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Examining the direct and indirect effects of financial development on CO2 emissions for 88 developing countries

Cited by 206 publications

References 69 publications

RETRACTED ARTICLE: The spillover of tourism development on CO2 emissions: a spatial econometric analysis

RETRACTED ARTICLE: The spillover of tourism development on CO2 emissions: a spatial econometric analysis

Asymmetric nexus between technological innovation and environmental degradation in Sweden: an aggregated and disaggregated analysis

Nexus Between Green Finance, Energy Efficiency, and Carbon Emission: Covid-19 Implications From BRICS Countries

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