Impact of financial inclusion and human capital on environmental quality: evidence from emerging economies

Du, Qiang; Na, Wu; Zhang, Fengyi; Lei, Yuting; Saeed, Asif

doi:10.1007/s11356-021-17945-x

Cited by 54 publications

(26 citation statements)

References 79 publications

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“…Our findings coincide with that ofLe et al (2020);Hussain et al, 2021),Rehman et al (2022), andQin et al (2021). However, these estimates contradict the result ofRenzhi and Baek (2020) andDu et al (2022) who claim that FIN can be used as a mitigating instrument to curb environmental degradation.…”

supporting

confidence: 84%

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Financial Inclusion, Technological Innovations, and Environmental Quality: Analyzing the Role of Green Openness

Ahmad

Ahmed

Bai

et al. 2022

Front. Environ. Sci.

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Undoubtedly, financial inclusion (FIN) contributes to economic development by enabling individuals and businesses, particularly small and medium enterprises, to access financial services. Financial inclusion may also have environmental implications; however, limited studies have looked into the nexus between financial inclusion and environmental quality. Also, the possible impacts of technological innovation and green openness remain unexplored in this nexus. In this context, this article probes the relationship between financial inclusion, technological innovation, green openness, and CO2 emissions in BRICS countries while controlling for economic growth and energy consumption. Using the panel times series data from 2004 to 2018, this study uses advanced econometric techniques for empirical analysis robust to cross-sectional dependency and slope heterogeneity. The empirical results unveiled that FIN contributes to environmental degradation in BRICS countries. In contrast, technological innovation and green openness pose mitigating effects on emissions, thus promoting environmental sustainability. Environmental degradation is evidenced to enhance due to rising economic growth and energy utilization. Financial inclusion, technological innovation, and green openness Granger cause CO2 emissions, but not the other way around. Further, technological innovation, green openness, and financial inclusion Granger cause each other. Based on the empirical results, this study recommends that BRICS countries should promote technological innovation, green openness, and at the same time, integrate financial inclusion with environmental policies to achieve climate-related goals.

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supporting

confidence: 84%

“…Their study used the dynamic common correlated effects method and found that FIN is significantly and positively correlated with environmental degradation. On the contrary, Du et al (2022) claimed that FIN improves the environmental quality of selected emerging countries as it is negatively connected with CO 2 emissions.…”

Section: Literature Reviewmentioning

confidence: 99%

Financial Inclusion, Technological Innovations, and Environmental Quality: Analyzing the Role of Green Openness

Ahmad

Ahmed

Bai

et al. 2022

Front. Environ. Sci.

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“…Making funds easily accessible with lower rates and more achievable financial requirements for various groups of society to finance the productive activities and initiating research and development in renewable energy play a positive function in environmental protection and help combat environmental degradation (Ganda, 2022;Kirikkaleli and Adebayo, 2021). Recent empirical studies conducted by Rahman et al (2022), Zafar et al (2022), andDu et al (2022) support the positive impact of financial inclusion on environmental quality where more inclusiveness leads to better environmental quality; however, the findings of Rahman et al (2022) are only supported for high-income countries. This might be in line with the EKC hypothesis.…”

Section: Research On the Relationship Between Financial Inclusion And...mentioning

confidence: 99%

How does financial inclusion affect environmental degradation in the six oil exporting countries? The moderating role of information and communication technology

Damrah

Šatrović

Shawtari

2022

Front. Environ. Sci.

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Progress in financial inclusion has played a major role in economic development and poverty reduction. However, the environmental impact of financial inclusion calls for urgent implementation of environmental strategies to mitigate climate change. Financial inclusion forces the policies of developed countries to advance and not affect the present and future development of developing countries. Therefore, the current study aims to investigate the direct effects of information and communication technology (ICT) usage on environment as well as its moderating role on the association between financial inclusion and environmental degradation for six oil exporting countries (United Arab Emirates, Saudi Arabia, Russia, Kuwait, Canada, and the United States), using annual panel data from 1995 to 2019. We also analyze the validity of the environmental Kuznets curve (EKC) phenomenon for the entire sample, as well as the role of energy consumption and population. Employing the Method of Moments Quantile Regression (MMQR) with fixed effects, this study supported the existence of EKC phenomenon here as linkage amid human development index and carbon intensity. We find that energy consumption significantly increases carbon intensity. The empirical results showed that the application of internet- and mobile use as indicators of ICT usage lead to environmental preservation in the six oil exporting economies. Also, we observe that financial inclusion has mitigating effects on pollutant emissions, contributing to environmental preservation. Interaction between ICT usage and financial inclusion jointly reduces carbon intensity in all quantile distributions. A robustness check using an alternative proxy of the financial inclusion also confirms that ICT usage significantly and negatively moderates the association between financial inclusion and carbon intensity. Based on the findings of this study, the selected oil exporting countries should integrate financial inclusion with environmental policies to reduce carbon intensity.

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“…Less access to formal financial services for small and marginalized Northerners has been seen as a serious threat to the economic development of developing countries such as Nigeria, as defined by Mohan (2009) for a country cannot determine its economic capacity and potentiality while the majority of the people were financially excluded. A financial exclusion means a lack of basic banking services at affordable prices to vulnerable parts of society (Du et al, 2022). Addressing Financial exclusion barriers is responsible for providing financial inclusion with timely access to financial services and, if necessary, ensuring adequate credit to vulnerable groups, such as vulnerable groups and low-income groups, at an affordable cost.…”

Section: Introductionmentioning

confidence: 99%

Financial Exclusion in Northern Nigeria: A Lesson From the Developed Countries

Muhammad¹,

Ngah

Obad

2022

AIFER

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<p>The objective of this paper is to assess the causes of financial exclusion in northern Nigeria, including the reason and causes behind the accessibility to banking services at a competitive and affordable prices. The study adopted Confirmatory Factor Analysis under Structural Equation Modeling using vulnerable group theory (Religiosity and Poverty) and financial literacy theory (Awareness). In this study, the survey method was used, additionally, the stratified sampling technique is applied as it provides richness and accuracy of information from respondents from various stratums. The participants comprised senior, middle and lower classes for the study justification. The finding indicates the positive relationship between Vulnerable Group Theory and Financial Exclusion while Financial Literacy Theory has no relationship as indicated. Therefore, the vulnerability which is consists of Religiosity and Poverty drive as the major causes of Financial Exclusion in Nigeria. The research provided insights and developed a model that indicates the causes of financial exclusion and apparent barriers to better financial services and inclusion in the community and society. This study's originality shows that have not used such vulnerable group theory and financial literacy theory for justification.</p>

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Impact of financial inclusion and human capital on environmental quality: evidence from emerging economies

Cited by 54 publications

References 79 publications

Financial Inclusion, Technological Innovations, and Environmental Quality: Analyzing the Role of Green Openness

Financial Inclusion, Technological Innovations, and Environmental Quality: Analyzing the Role of Green Openness

How does financial inclusion affect environmental degradation in the six oil exporting countries? The moderating role of information and communication technology

Financial Exclusion in Northern Nigeria: A Lesson From the Developed Countries

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