Fiscal Decentralization and Environmental Pollution Control

Omodero, Cordelia Onyinyechi

doi:10.18280/ijsdp.160718

Cited by 5 publications

(5 citation statements)

References 23 publications

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“…Sustainable financing has the potential to be a major transformational force, so there will be no migration to a low-carbon society without additional business participation, from giant organizations to Enterprises. In this scenario, fiscal delegation should be aimed at enhancing ecological integrity [39,40]. Green finance necessitates an open innovative culture: ecofriendly credit, greener credit derivatives, ecofriendly protected securities, greener derivative products, ecofriendly crowdsourcing portals, and sustainable wealth management should all be encouraged, with the goal of retaining monetary sustainability in mind [2].…”

Section: Discussionmentioning

confidence: 99%

Climate Monetary Policy Design and Modelling

Omodero¹,

Alege²

2023

IJDNE

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The significance of green monetary policy design in the face of current climatic issues has been investigated. The study considers the perspectives of other researchers in previous studies while focusing on the Nigeria situation and monetary climate policies in the country. The study's goal is to put current monetary policy instruments to the test and check their alignment with climate fluctuations and policies. The analysis spans the years 1990 to 2020, utilizing data from the World Development Indicators and the Central Bank of Nigeria's statistics archives. Various analytical studies are performed, and the monetary policy tools used are individually assessed to validate their efficiency in reducing climate change. The study applies ordinary least squares methodologies, indicating that the Central Bank's money supply and monetary policy rate processes match with climate change monetary policy adaptation. As a result, the country's money supply and interest rate are environmentally beneficial. Nonetheless, the analysis concludes that inflation and exchange rates are unimportant throughout the time period under consideration. As a response, the research recommends that the government, through its financial institutions, completely implement monetary policy changes in favor of climate change in the country. The research also proposes that the authorities aggressively seek green financing of ecofriendly technology using green bonds, which are currently on the market. The budgeting system is critical for monitoring the green fund's administration and effective application to green initiatives.

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Section: Discussionmentioning

confidence: 99%

Climate Monetary Policy Design and Modelling

Omodero¹,

Alege²

2023

IJDNE

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“…Besides that, NGS (2019) advises interested parties to examine the level of both direct and indirect perceived weakness of budgetary gadgets to atmospheric dangers. As the component of a financial plan, fiscal distribution to all control divisions must be aimed to give support to air quality refinement (Li et al, 2021;Omodero, 2021). In line with NGS (2019), the budgetary framework increases government income by instituting ecological taxation on electricity, transportation, and industrial sectors.…”

Section: Introductionmentioning

confidence: 99%

Fiscal and Monetary Measures in Achieving Green Ecology: Evidence from Nigeria

Omodero

2023

Folia Oeconomica Stetinensia

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Research background In light of the apparent density of the carbon output in the ecosystems of emerging regions, the United Nations has established a manual that puts an emphasis on carbon taxes as one of the quick fixes to environmental uncleanness in evolving states. Purpose The purpose of this research is to look into the impact of monetary and fiscal policy measures on reducing carbon emissions in the ecosystems of Nigeria. Research methodology The study employs the Autoregressive Distributed Lag (ARDL) co-integration technique or the bound co-integration technique to confirm the existence of long and short term nexus and the influence of selected financial instruments on pollutant reduction. The study spans 1991 to 2021 and relies on World Bank Development Indicators data on inflation and CO2 discharges in millions of metric tons. The statistics on tax earnings is derived from the Central Tax Authority in billions of national currency, but the figures on the state’s outlay and broad money supply are generated from the database of the Apex Bank in the country. Result According to the analysis, financial instruments are not yet being directed toward reducing air pollution and environmental devastation in the country. Further investigation reveals that tax revenue gathering is positively irrelevant, but CO2 has a strong positive effect on its reduction at lag 1, implying that a more eco-friendly financial strategy is required to combat environmental hazards in Nigeria. Novelty A Green financial system is a big issue of contention in the global public discussion about rising temperatures. Presently, there are few studies on the management of pollution using financial instruments in emerging regions. This study will serve as one of the leading investigations to align with the United Nations goal to restore our biodiversity through green fiscal and monetary policies. The study strongly suggests that the Nigerian government should pursue green fiscal and monetary mechanisms that include: issuance of green bonds; potential and cost-effective green payment plans, carbon taxation, and ecologically responsible national budgets and investment opportunities.

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“…Currently, China is in a relatively decentralized economic system and a relatively centralized financial system. The existence of fiscal decentralization makes lower-level governments face greater pressure for promotion while gaining power, i.e., to increase regional GDP, so that lower-level governments have to pursue high economic output at the cost of high inputs, high pollution, and high emissions [ 6 , 7 , 8 , 9 , 10 ]. Local government and industrial development are important factors affecting economic development and ecological environment, and are important carriers for giving full play to government functions and market functions, which can have an important impact on resource allocation efficiency and resource efficiency, and are also the key to reducing environmental pollution and building ecological civilization in China.…”

Section: Introductionmentioning

confidence: 99%

Exploring the Role of Environmental Regulation and Fiscal Decentralization in Regional Energy Efficiency in the Context of Global Climate

Wang

2022

IJERPH

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As an important factor of production, the use of energy will greatly improve production efficiency and is the material basis for China’s sustainable development. Environmental regulation plays an important role in energy efficiency (EE), while fiscal decentralization is an important institutional context for China’s economic development. In order to explore the role of environmental regulation and fiscal decentralization on EE, this paper measures the EE of 30 provincial regions in China from 2006 to 2020 by the super-efficient SBM method, and verifies the relationship between fiscal decentralization and environmental regulation on EE using a spatial econometric model, and conclusions as follows: (1) China’s overall energy efficiency averages 0.563, still at a low level, with the highest average efficiency value in the east and the lowest in the west. (2) An inverted U-shaped relationship exists between environmental regulation and EE, and its spatial spillover effect also shows an inverted U-shaped relationship. Fiscal decentralization promotes the regional EE, and its spatial effect also significantly positive. (3) When the level of environmental regulation increases, the EE level of the local and neighboring provinces will increase. The enhancement of fiscal decentralization system can promote local EE, but it has a negative effect on the energy efficiency level of neighboring provinces. Finally, based on the results of the empirical analysis, this paper proposes suggestions for improving regional EE, which are of great theoretical and practical value for improving climate change and achieving sustainable regional economic development in China.

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Fiscal Decentralization and Environmental Pollution Control

Cited by 5 publications

References 23 publications

Climate Monetary Policy Design and Modelling

Climate Monetary Policy Design and Modelling

Fiscal and Monetary Measures in Achieving Green Ecology: Evidence from Nigeria

Exploring the Role of Environmental Regulation and Fiscal Decentralization in Regional Energy Efficiency in the Context of Global Climate

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