Investigation on the role of economic, social, and political globalization on environment: evidence from CEECs

Abstract

This study aims to investigate the impact of different dimensions of globalization (i.e. overall globalization index, economic globalization index, social globalization index and political globalization index) on environmental pollution by incorporating the real gross domestic product and energy consumption in Central and Eastern European Countries (CEECs). In doing so, the annual period from 1995 to 2015 is examined with second generation panel data methodologies to consider the possible cross-sectional dependence among observed countries. The findings show that increasing overall globalization, economic globalization and social globalization increases the carbon emissions while increasing political globalization reduces the environmental pollution. In addition, it is also found that Environmental Kuznets Curve (EKC) hypothesis is confirmed.

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

“…This suggests that economic activities are more carbon intensive at the early stage of growth and the condition remains, until a certain level of income is achieved, after this turning point, further increases in income shift the economy from carbon intensive activities to a low‐carbon pattern of growth (Gupta & Dalei, 2020). The third category studies and extends the analysis by incorporating the impact of other factors (Acheampong, 2019; Destek, 2020; Hafeez et al, 2019; Katircioğlu & Taşpinar, 2017; Park, Meng, & Baloch, 2018; Sarkodie et al, 2019; Shahbaz, Haouas, Sohag, & Ozturk, 2020; Zafar et al, 2019; Zaidi et al, 2019). Other factors considered in these studies include energy consumption, financial development, indicators of economic, social and political globalisation, and urbanisation.…”

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

“…Extant studies have appraised into the environmental effects of overall, economic, social and political globalization (for example, Destek, 2020;Phong, 2019;Shahbaz, Suki, Sharif, Afshan and Suki, 2020;Xu, Baloch, Meng, Zhang and Mahmood, 2018). However, these studies do not distinguish between the de facto and de jure aspects of overall, economic, social and political globalization.…”

Testing the nexus between renewable energy consumption and environmental quality in Nigeria: The role of broad‐based financial development

“…More recently, many researches have emphasized the important role of financial development in achieving sustainable environment and have incorporated financial development indicators in modeling the energy–growth–environment relationship (see Adams & Klobodu, 2018; Destek, 2019; Rahman, Chen, Saud, Saleem, & Bari, 2019; Tobechi, Chinazaekpere, Uwazie, Lasbrey, & Michael, 2019; Zakaria & Bibi, 2019; Zafar, Saud, & Hou, 2019). According to Zakaria and Bibi (2019) efficient and developed financial sectors affects environmental quality by offering loans at low costs for environment‐friendly projects, providing clean technologies to the firms, and providing incentives to the firms that obey environmental rules and regulations.…”