Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2021.2007152
Investigating the role of financial development and technology innovation in climate change: evidence from emerging seven countries
Liu Jinqiao
Apichit Maneengam
Faiza Saleem
Syed Shafqat Mukarram
Sažetak
Amid raising ecological concerns, the role of sustainable financial
system and emerging technologies have gained significant attention. And a relatively less attention has been given to these factors in emerging economies. Therefore, this study intends to
investigate the effects of financial development and technology
innovation on climate change (CO2 emissions) in Emerging Seven
countries over the period 1980–2020. In doing so, we have
adopted a dynamic panel data model, that is, generalized method
of moments, where climate change is given as an endogenous
function of financial development and technology innovation by
controlling the effects of economic growth, trade openness,
population, industrialization, and urbanization. The overall results
exhibit that the direct effect of financial development on climate
change is adverse; however, the indirect effect through moderation of technology innovation is significantly positive. These outcomes imply that technology innovation is imperative to
neutralize the negative consequences of financial development
on climate change. These findings advocate financial reforms that
effectively encourage and incentivize firms to embrace efficient
and environmental friendly technologies in the financial sector.
Ključne riječi
Financial development; CO2 emissions; climate change; economic growth; technology innovation
Hrčak ID:
302632
URI
Datum izdavanja:
31.3.2023.
Posjeta: 588 *