Investigating the link between economic growth, financial development, urbanization, natural resources, human capital, trade openness and ecological footprint: evidence from Nigeria

Dada, James Temitope; Adeiza, Adams; Noor, Azizi Ismail; Arnaut, Marina

doi:10.1007/s10818-021-09323-x

Cited by 62 publications

(52 citation statements)

References 87 publications

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“…toward NR leads to greater emission increases in countries. This outcome aligns with the study of [36] in Colombia, [37] in G7 nations, [38] in ten newly NICs but contradicts the study of [40] in seven selected nations and of [41] in Nigeria. We found a positive association between carbon emission and energy usage across quantiles.…”

Section: Results Of Mmqrsupporting

confidence: 64%

“…Conversely, using the panel dataset spanning from 1990-2018, the investigation of Tufail et al [40] in seven selected nations testified that the increase in NR curbs the level of degradation in the environment. Similarly, the work of Dada et al [41] in Nigeria detected that the upsurge in natural resources abates environmental degradation.…”

Section: Research Hypothesis 3 (H3)mentioning

confidence: 93%

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Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies?

Omer

Bein

2022

Energies

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This present research examined the association among carbon emissions, financial development, economic growth, natural resources, and energy usage in GCC nations within the environmental Kuznets curve framework by applying the datasets between 1995 and 2019. It used some empirical approaches, including second-generation unit roots and cointegration methods and method of moments quantile regression (MMQR). We detected a cointegrating interconnection between carbon emissions and financial development, energy usage, economic growth, natural resources, and squared of economic growth in the long term. Furthermore, the findings of the MMQR reveal that economic growth, financial development, energy usage, and natural resources degrade the environment, as well as proving the presence of the EKC hypothesis. Moreover, the results also demonstrated that financial development greatly moderates energy usage in order to attain environmental sustainability. Furthermore, the fixed-effect ordinary least squares, fully modified ordinary least squares, and dynamic ordinary least squares were also used in the study as a soundness check of the MMQR approach. The path of causality moves from financial development, economic growth, and squared of economic growth to CO2 emissions. Lastly, the causality direction runs from carbon emissions to energy usage. Based on these findings, the energy mix of the region must be revised by ensuring the promotion of sustainable energy sources and other energy-efficient technology in order to attain the quality of the environment.

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Section: Results Of Mmqrsupporting

confidence: 64%

Section: Research Hypothesis 3 (H3)mentioning

confidence: 93%

Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies?

Omer

Bein

2022

Energies

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“…This study examines the role of institutions in the link between financial development and ecological footprint in Malaysia over the period of 1984–2017. In order to achieve the objective of the study, the study modified existing model in the environmental literature to include institutional quality (Baloch et al , 2019; Ahmad et al , 2020; Omoke et al , 2020; Alola et al , 2019; Yang et al , 2021a, b; Dada et al , 2022). Thus, the base-line model is stated as follows:where EFPt is ecological footprint.…”

Section: Materials and Methodologymentioning

confidence: 99%

“…Studies by Al-Mulali and Sab (2012), Xu et al (2018), Pata (2018) and Yang et al (2021a, b) among others conclude that financial development worsens environmental sustainability through an increase in the level of production and consumption which intensify energy consumption. However, Omri et al (2015), Shahbaz et al (2016), Rasoulinezhad and Saboori (2018), Majeed and Mazhar (2019), Dogan et al (2019), Yao et al (2021) and Dada et al (2022) among others submit that financial development reduces environmental degradation through investment in R&D and cleaner and renewable energies. The mixed evidence in the literature and most importantly the negative effect of financial development on environmental quality suggests the need for absorptive variables that could moderate the growth benefit of finance to environmental sustainability.…”

Section: Introductionmentioning

confidence: 99%

“…Thus, Ecological Footprint (henceforth EFP), which overcomes the deficiency of traditional measures of environmental quality has emerged. EFP provides an inclusive indicator of environmental degradation and environmental sustainability as it encapsulates all the three types of pollution (Solarin et al , 2019; Solarin and Bello, 2018; Yang et al , 2021a, b; Dada et al , 2022). Furthermore, EFP captures both direct and indirect effects of production and consumption on the environment (Ulucak and Bilgili, 2018) and natural resources consumption (Teixidó-Figueras and Duro, 2015).…”

Section: Introductionmentioning

confidence: 99%

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Financial development–ecological footprint nexus in Malaysia: the role of institutions

Dada

Adeiza

Ismail

et al. 2022

MEQ

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PurposeMotivated by the conflicting evidence on the effect of financial development on environmental quality, this study investigates the moderating role of institutional quality in the link between financial development and environmental quality using a robust proxy in Malaysia from 1984 to 2017.Design/methodology/approachEcological footprint is used to measure environmental quality, while financial development is proxied using three measures (domestic credit provided by the private sector, domestic credit provided by the financial sector and domestic credit provided by the banking sector). An index of institutional quality is generated from voice and accountability, government effectiveness, regulatory quality, rule of law and control of corruption. Autoregressive Distributed Lag Bounds Test, Fully Modified Ordinary Least Square and Canonical Cointegrating Regression were used as the estimation techniques.FindingsThe results show that financial development, institutional quality, economic growth and foreign direct investment improve environmental quality in the short run, whereas trade openness and natural resources worsen it. In the long run, financial development, institutional quality, economic growth, trade openness and natural resources deteriorate the environment. Furthermore, findings from the interactive term suggest that institutions and financial development complement each other to affect the environment in the short run. However, institutions and financial development perform a substitutability role in influencing the environment in the long run.Practical implicationsThe outcome of this study suggests that there are time lags in the relationship between institutional quality, financial development and ecological footprint in Malaysia. Furthermore, the study offers important policy implications to policymakers in Malaysia and other developing countries on how to mitigate environmental degradation.Originality/valueThis study contributes to the body of knowledge on the moderating role of institutional quality in the relationship between financial development and ecological footprint in Malaysia. It examines the direct and indirect effects of financial development on environmental degradation through institutional quality, which have received less attention in the context of Malaysia. The findings from this study are robust to different proxies and estimation techniques.

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Do human capital development and innovation matter in sustaining economic development? Panel data evidence from selected developing economies

Agarwalla,

Sahu

2024

Sustainable Development

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The study investigates the impact of human capital development and innovation on the economic development of 54 developing economies between the time frame 2000 and 2021. Human capital development is viewed here from the two viewpoints: health and education. Empirical results using the panel vector autoregressive model found that government health and education expenditure accelerates the economic progress while tertiary school enrollment impedes it in the short‐run. Innovation creates a favorable situation in the economy by means of the application of eco‐friendly technology. Moreover, unemployment surges and inflation dampens the developmental level. From panel causality test, feedback causality is found of economic development with the innovation and unemployment. Finally, impulse response function is employed for the robustness of the result. These empirical insights have a significant value in formulating policies that can encourage the innovation and prioritize the formation of human capital through the provision of education and healthcare facilities for enhancing the overall economic activities.

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Investigating the link between economic growth, financial development, urbanization, natural resources, human capital, trade openness and ecological footprint: evidence from Nigeria

Cited by 62 publications

References 87 publications

Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies?

Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies?

Financial development–ecological footprint nexus in Malaysia: the role of institutions

Do human capital development and innovation matter in sustaining economic development? Panel data evidence from selected developing economies

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