Izvorni znanstveni članak
https://doi.org/10.1080/1331677X.2023.2174153
The non-linearity between financial development and carbon footprints: the environmental roles of technological innovation, renewable energy, and foreign direct investment
Yanlei Sun
Raad Mahmoud Al-Tal
Abu Bakkar Siddik
Samiha Khan
Muntasir Murshed
Rafael Alvarado
Sažetak
The economies of the majority of the South Asian countries have
substantially expanded in the last couple of decades.
Nevertheless, the simultaneous deterioration in environmental
quality questions the quality of such growth performances of the
South Asian countries in light of their environmental sustainability
objectives. As a result, limiting the environmental hardships faced
by these countries is deemed as an important agenda of the concerned
governments. Therefore, this study aims to examine the
determinants of carbon footprints in selected South Asian countries
using advanced panel data econometric methods. Overall,
the findings confirm an inverted U-shaped association between
financial development and carbon footprints based on which the
environmental Kuznets curve hypothesis is verified in the long
run. Besides, technological innovation is evidenced to curb the
short- and long run levels of carbon footprints while renewable
energy transition exerts carbon footprint-inhibiting impact only in
the long run. Further, the findings verify the pollution haven
hypothesis by confirming carbon footprint-boosting impact of net
foreign direct investment inflows. Consequently, for improving
environmental quality, South Asian economies should develop
their financial sectors further, discover green technologies,
undergo renewable energy transition, and restrict inflows of
unclean foreign direct investments.
Ključne riječi
Financial development; technological innovation; FDI; CS-ARDL; CO2 emissions; renewable energy transition
Hrčak ID:
306840
URI
Datum izdavanja:
30.4.2023.
Posjeta: 360 *