Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2153152
Does financial globalisation matter for environmental quality? A sustainability perspective of Asian economies
Jianrun Wang
Muhammad Ramzan
Raufhon Salahodjaev
Muhammad Hafeez
Jihua Song
Sažetak
The study aims to explore the asymmetric impact of financial globalisation
on renewable CO2 emissions for selected Asian economies
for a time span from 1990 to 2019. A sample of 35 economies is
selected on the basis of the availability of data. To get the estimates
of the variables, the analysis has applied FMOLS and DOLS estimation
methods. The linear estimate of financial globalisation in the
FMOLS model is negative and significant but positive and insignificant
in the DOLS model. The estimates attached to positive financial
globalisation are negatively significant in both FMOLS and DOLS
models, implying that an increase in financial globalisation causes
the environmental quality to improve. Similarly, the estimates
attached to negative financial globalisation in both FMOLS and
DOLS are negative and suggest that a fall in financial globalisation
causes the environmental quality to deteriorate. The magnitudes of
positive and negative changes are different; hence, they have a significantly
different impact on environmental quality. The robust
results clearly indicate that the effects of financial globalisation on
CO2 emissions are asymmetric. Therefore, the policymakers should
focus on positive as well as negative changes in financial globalisation
while considering the impact of financial globalisation on CO2
emissions in Asian regions.
Ključne riječi
Financial globalisation; CO2 emissions; Asia
Hrčak ID:
308012
URI
Datum izdavanja:
1.9.2023.
Posjeta: 555 *