Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2022.2142635
Linking financial development to environmental performance index—the case of Romania
Roxana Maria Bădîrcea
Nicoleta Mihaela Doran
Alina Georgiana Manta
Silvia Puiu
Georgeta-Madalina Meghisan-Toma
Marius Dalian Doran
Sažetak
To make steps in society towards a more sustainable future, countries
must meet the targets established by the United Nations’
Sustainable Development Goals. Thus, factors that could impact the
environmental indicators should be analysed. Therefore, this study
aims to identify the correlations between financial development
and environmental performance in Romania, during the period
1995–2018. Using composite indexes to assess financial development
and the Environmental Performance Index (EPI) to express
environmental performance, important results are obtained
through the Canonical Cointegrating Regression (CCR) method. The
explanatory variables used in the study are specific to the evaluation
of the financial development of a country: access, depth and efficiency.
The results show that, in the case of financial institutions, the
access index and the depth index have a negative influence on the
environmental performance index, while in the case of financial
markets, the negative impact of the access index of financial markets
can be observed. The efficiency index, both in the case of financial
institutions and financial markets, generates a positive influence
on environmental performance in Romania. Financial markets also
address positive influences on the evolution of the environmental
performance index.
Ključne riječi
Financial development; environmental performance; composite index; causal relationship
Hrčak ID:
306773
URI
Datum izdavanja:
30.4.2023.
Posjeta: 190 *