Financial development and environment: Evidence of consumption-based CO₂ emissions | ||
| Journal of Advanced Environmental Research and Technology | ||
| Article 6, Volume 1, Issue 4, 2023, Pages 85-97 PDF (482.24 K) | ||
| Document Type: Original Research | ||
| DOI: 10.22034/JAERT.1.4.85 | ||
| Authors | ||
| fariba osmani1; ali akbar naji* 2; mahdi cheshomi3 | ||
| 1Ferdowsi university of Mashhad | ||
| 2Associate Professor | ||
| 32. PhD candidate in Economics | ||
| Abstract | ||
| Today, financial development is one of the main drivers of economic growth and development. Since developing countries are focused on the rapid expansion of economic growth, they have taken steps toward the development of financial markets. However, the consequences of financial development on environmental quality are not clear. In addition, since the emission of carbon dioxide caused by production is significantly different from the emission of carbon dioxide caused by consumption in some countries (such as China). Therefore, this article examines the impact of financial development on the consumption-based CO₂ emissions for a panel of 17 developing countries during the period of 1990-2019 with a Panel- Quantile approach. Empirical findings show that the effect of financial development on consumption-based CO₂ emissions is positive and significant in all quantiles. In addition, this study considers gross domestic product, rental rates of natural resources, trade openness, and globalization as control variables. The results of this study provide new evidence for policymakers to maintain environmental quality by focusing on the link between financial development and consumption-based CO₂ emissions. | ||
| Keywords | ||
| Financial markets; consumption-based CO₂ emissions; production -based CO₂ emissions; Developing Countries | ||
| References | ||
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