Financial globalization and environmental degradation nexus: Evidence from emerging economies

Investigating the environmental effect of globalization: Insights from selected industrialized countries

“…In lieu of CO2 emissions, we use ecological footprint (in per capita terms) to proxy environmental degradation. Relying on ecological footprint to capture the level of environmental degradation is consistent with some recent studies (see Sabir and Gorus, 2019;Saud, Chen and Haseeb, 2020;Ulucak, İlkay, Özcan and Gedikli, 2020). Most studies on the environmental effect of globalization have been based on pollutant emissions such as CO2 emissions (see, for instance, Wang, Rasool, Asghar and Wang, 2019;Zafar, Saud and Hou, 2019;Opoku and Boachie, 2020).…”

Taking Venezuela back to the sustainability path: The role of financial development and economic integration in low‐carbon transition

“…In line with the steps taken in Jordan & Philips (2018) and followed by Khan, Teng, Khan, and Khan (2019), Sarkodie et al (2019) and Danish & Ulucak (2020), cointegration among the variables of interest is investigated using the ARDL‐bounds testing method of Pesaran, Shin, and Smith (2001). The results from the cointegration test are presented in Table 6.…”

“…The long‐run effects differ significantly; FDI inflows have environmental deteriorating effect while trade openness has a reducing effect on CO 2 emissions in the emerging economies. Ulucak et al (2020) extended the EKC equation to investigate the impact of financial globalisation on environmental degradation based on data from 15 emerging economies over the period 1974–2016. The results from the panel data analysis rejected the EKC predicted inverted U‐shaped relationship between economic growth and environmental degradation for ecological footprint.…”

“…The central topic of this study is the role of financial development and international economic integration in mitigating CO 2 emissions in the economy. Recent developments clearly show that international economic integration also referred to as economic globalisation, can help boost trade and capital flows and in combination with financial development can alter the scale, composition and techniques of economic activity (Gupta & Dalei, 2020; Lee & Min, 2014; Mohsin et al, 2020; Ulucak, İlkay, Özcan, & Gedikli, 2020). The priority is to determine whether these conditions can be successfully harnessed to mitigate the increasing CO 2 emissions in Venezuela.…”

“…In the literature, the impact of financial development and economic globalisation on carbon emissions has received significant empirical attention (Acheampong, 2019; Hafeez, Yuan, Yuan, Zhuo, & Stromaier, 2019; Koengkan, Fuinhas, & Santiago, 2020; Leal & Marques, 2019; Ulucak et al, 2020; You & Lv, 2018; Zafar, Zaidi, Sinha, Gedikli, & Hou, 2019; Zhou et al, 2019). However, the case of Venezuela has not been explored.…”