Asymmetric effect of financial development and energy consumption on environmental degradation in South Asia? New evidence from non-linear ARDL analysis
Tóm tắt
Từ khóa
Tài liệu tham khảo
Abbasi F, Riaz K (2016) CO2 emissions and financial development in an emerging economy: an augmented VAR approach. Energy Policy 90:102–114
Aftab M, Ahmad R, Ismail I (2018) Examining the uncovered equity parity in the emerging financial markets. Res Int Bus Finance 45:233–242
Aftab M, Ahmad R, Ismail I, Phylaktis K (2019) Economic integration and the currency and equity markets nexus. Available at SSRN 3434379
Ahmad M, Khan Z, Ur Rahman Z, Khan S (2018) Does financial development asymmetrically affect CO2 emissions in China? An application of the nonlinear autoregressive distributed lag (NARDL) model. Carbon Manage 9(6):631–644
Akbostancı E, Türüt-Aşık S, Tunç Gİ (2009) The relationship between income and environment in Turkey: is there an environmental Kuznets curve? Energy Policy 37(3):861–867
Akin CS (2014) The impact of foreign trade, energy consumption and income on CO2 emissions. Int J Energy Econ Policy 4(3):465
Al-Mulali U, Tang CF, Ozturk I (2015) Does financial development reduce environmental degradation? Evidence from a panel study of 129 countries. Environ Sci Pollut Res 22(19):14891–14900
Ayeche MB, Barhoumi M, Hammas MA (2016) Causal linkage between economic growth, financial development, trade openness and CO2 emissions in European countries. Am J Environ Eng 6(4):110–122
Bahmani-Oskooee M, Aftab M (2017) Malaysia-Japan commodity trade and asymmetric effects of exchange rate changes. MPRA paper No. 81213
Banerjee A, Dolado J, Mestre R (1998) Error-correction mechanism tests for cointegration in a single-equation framework. J Time Ser Anal 19(3):267–283
Basarir C, Cakir YN (2015) Causal interactions between CO2 emissions, financial development, energy and tourism. Asian Econ Fin Rev 5(11):1227–1238
Bekun FV, Alola AA, Sarkodie SA (2019a) Toward a sustainable environment: Nexus between CO2 emissions, resource rent, renewable and nonrenewable energy in 16-EU countries. Sci Total Environ 657:1023–1029
Bekun FV, Emir F, Sarkodie SA (2019b) Another look at the relationship between energy consumption, carbon dioxide emissions, and economic growth in South Africa. Sci Total Environ 65(5):759–765
Bello AK, Abimbola OM (2010) Does the level of economic growth influence environmental quality in Nigeria: a test of environmental Kuznets Curve (EKC) Hypothesis? Pakistan J Soc Sci 7(4):325–329
Boutabba MA (2014) The impact of financial development, income, energy and trade on carbon emissions: evidence from the Indian economy. Econ Model 40:33–41
Brännlund R, Ghalwash T, Nordström J (2007) Increased energy efficiency and the rebound effect: effects on consumption and emissions. Energy Econ 29(1):1–17
Charfeddine L, Khediri KB (2016) Financial development and environmental quality in UAE: cointegration with structural breaks. Renew Sustain Energy Rev 55:1322–1335
Cole MA, Elliott RJ, Shimamoto K (2005) Industrial characteristics, environmental regulations and air pollution: an analysis of the UK manufacturing sector. J Environ Econ Manage 50(1):121–143
Collins D, Zheng C (2015) Managing the poverty–CO2 reductions paradox: the case of China and the EU. Organiz Environ 28(4):355–373
Dar JA, Asif M (2017) Is financial development good for carbon mitigation in India? A regime shift-based cointegration analysis. Carbon Manage 8(5–6):435–443
Dar JA, Asif M (2018) Does financial development improve environmental quality in Turkey? An application of endogenous structural breaks based cointegration approach. Manage Environ Quality 29(2):368–384
Destek MA, Sarkodie SA (2019) Investigation of environmental Kuznets curve for ecological footprint: the role of energy and financial development. Sci Total Environ 650:2483–2489
Dickey DA, Fuller WA (1979) Distribution of the estimators for autoregressive time series with a unit root. J Am Stat Assoc 74(366a):427–431
Dinda S, Coondoo D (2006) Income and emission: a panel data-based cointegration analysis. Ecol Econ 57(2):167–181
Dogan E, Seker F (2016) The influence of real output, renewable and non-renewable energy, trade and financial development on carbon emissions in the top renewable energy countries. Renew Sustain Energy Rev 60:1074–1085
Dogan E, Turkekul B (2016) CO 2 emissions, real output, energy consumption, trade, urbanization and financial development: testing the EKC hypothesis for the USA. Environ Sci Pollut Res 23(2):1203–1213
Engle RF, Granger CW (1987) Co-integration and error correction: representation, estimation, and testing. Econometrica: J Econ Soc 55(2):251–276
Farhani S, Ozturk I (2015) Causal relationship between CO2 emissions, real GDP, energy consumption, financial development, trade openness, and urbanization in Tunisia. Environ Sci Pollut Res 22(20):15663–15676
Friedl B, Getzner M (2003) Determinant of CO2 emissions in a small open economy. Ecol Econ 45(1):133–148
Galeotti M, Lanza A, Pauli F (2006) Reassessing the environmental Kuznets curve for CO2 emissions: a robustness exercise. Ecol Econ 57(1):152–163
Godil DI, Sharif A, Rafique S, Jermsittiparsert K (2020a) The asymmetric effect of tourism, financial development, and globalization on ecological footprint in Turkey. Environ Sci Pollut Res 27(32):40109–40120
Godil DI, Sharif A, Agha H, Jermsittiparsert K (2020b) The dynamic nonlinear influence of ICT, financial development, and institutional quality on CO2 emission in Pakistan: new insights from QARDL approach. Environ Sci Pollut Res 27(19):24190–24200
Gokmenoglu K, Ozatac N, Eren BM (2015) Relationship between industrial production, financial development and carbon emissions: the case of Turkey. Procedia Econ Fin 25(May):463–470
Granger CW (1969) Investigating causal relations by econometric models and cross-spectral methods. Econometrica 37(3):424–438
Grossman GM, Krueger AB (1991) Environmental impacts of a North American free trade agreement. National Bureau of economic research Working Paper 3914 NBER, Cambridge, MA
Gujarati DN, Porter DC (1999) Essentials of econometrics. Irwin/McGraw-Hill 2, Singapore
Hao Y, Zhang ZY, Liao H, Wei YM, Wang S (2016) Is CO2 emission a side effect of financial development? An empirical analysis for China. Environ Sci Pollut Res 23(20):21041–21057
He J, Wang H (2012) Economic structure, development policy and environmental quality: an empirical analysis of environmental Kuznets curves with Chinese municipal data. Ecol Econ 76:49–59
Hoang TH, Lahiani A, Heller D (2016) Is gold a hedge against inflation? New evidence from a nonlinear ARDL approach. Econ Model 54:54–66
Islam MZ, Ahmed Z, Saifullah MK, Huda SN, Al-Islam SM (2017) CO2 emission, energy consumption and economic development: a case of Bangladesh. J Asian Fin Econ Bus 4(4):61–66
Jalil A, Feridun M (2011) The impact of growth, energy and financial development on the environment in China: a cointegration analysis. Energy Econ 33(2):284–291
Johansen S, Juselius K (1990) Maximum likelihood estimation and inference on cointegration with appucations to the demand for money. Oxford Bull Econ Stat 52(2):169–210
Kanjilal K, Ghosh S (2013) Environmental Kuznet’s curve for India: Evidence from tests for cointegration with unknown structural breaks. Energy Policy 56:509–515
Komal R, Abbas F (2015) Linking financial development, economic growth and energy consumption in Pakistan. Renew Sustain Energy Rev 44:211–220
Lahiani A (2020) Is financial development good for the environment? An asymmetric analysis with CO2 emissions in China. Environ Sci Pollut Res 27(8):7901–7909
Lee JM, Chen KH, Cho CH (2015) The relationship between CO2 emissions and financial development: evidence from OECD countries. Singapore Econ Rev 60(05):1550117
Lundgren T (2003) A real options approach to abatement investments and green goodwill. Environ Resour Econ 25(1):17–31
Ma C, Stern DI (2008) China’s changing energy intensity trend: a decomposition analysis. Energy Econ 30(3):1037–1053
Managi S, Jena PR (2008) Environmental productivity and Kuznets curve in India. Ecol Econ 65(2):432–440
Martı́nez-Zarzoso I, Bengochea-Morancho A (2004) Pooled mean group estimation of an environmental Kuznets curve for CO2. Econ Lett 82(1):121–126
Mohiuddin O, Asumadu-Sarkodie S, Obaidullah M (2016) The relationship between carbon dioxide emissions, energy consumption, and GDP: a recent evidence from Pakistan. Cogent Eng 3(1):1210491
Moomaw WR, Unruh GC (1997) Are environmental Kuznets curves misleading us? The case of CO2 emissions. Environ Dev Econ 2(4):451–463
Mugableh MI (2015) Economic growth, CO2 emissions, and financial development in Jordan: equilibrium and dynamic causality analysis. Int J Econ Fin 7(7):98–105
Muhyidin H, Saifullah MK, Fei YS (2014) CO2 emission, energy consumption and economic development in Malaysia. Int J Manag Excell 6(1):1648–2292
Munir K, Riaz N (2019) Energy consumption and environmental quality in South Asia: evidence from panel non-linear ARDL. Environ Sci Pollut Res 26(28):29307–29315
Ozturk I, Acaravci A (2013) The long-run and causal analysis of energy, growth, openness and financial development on carbon emissions in Turkey. Energy Econ 36:262–267
Ozturk I, Al-Mulali U, Saboori B (2016) Investigating the environmental Kuznets curve hypothesis: the role of tourism and ecological footprint. Environ Sci Pollut Res 23(2):1916–1928
Pesaran MH, Shin Y, Smith RJ (2001) Bounds testing approaches to the analysis of level relationships. J Appl Economet 16(3):289–326
Phillips PC, Perron P (1988) Testing for a unit root in time series regression. Biometrika 75(2):335–346
Rayhan I, Akter K, Islam MS, Hossain MA (2018) Impact of urbanization and energy consumption on CO2 emissions in Bangladesh: an ARDL bounds test approach. Int J Sci Eng Res 9(6):838–843
Romilly P, Song H, Liu X (2001) Car ownership and use in Britain: a comparison of the empirical results of alternative cointegration estimation methods and forecasts. Appl Econ 33(14):1803–1818
Sadorsky P (2010) The impact of financial development on energy consumption in emerging economies. Energy Policy 38(5):2528–2535
Sarkodie SA (2018) The invisible hand and EKC hypothesis: What are the drivers of environmental degradation and pollution in Africa? Environ Sci Pollut Res 25(22):21993–22022
Sarkodie SA, Strezov V (2019) A review on environmental Kuznets curve hypothesis using bibliometric and meta-analysis. Sci Total Environ 649:128–145
Sehrawat M, Giri A, Mohapatra G (2015) The impact of financial development, economic growth and energy consumption on environmental degradation: evidence from India. Manage Environ Quality 26(5):666–682
Shafik N (1994) Economic development and environmental quality: an econometric analysis. Oxford Econ Papers 46:757–773
Shafik N, Bandyopadhyay S (1992) Economic growth and environmental quality: time-series and cross-country evidence. The World Bank, Washington, DC
Shahbaz M, Solarin SA, Mahmood H, Arouri M (2013) Does financial development reduce CO2 emissions in Malaysian economy? A time series analysis. Econ Mod 35:145–152
Sharif A, Afshan S, Qureshi MA (2019) Idolization and ramification between globalization and ecological footprints: evidence from quantile-on-quantile approach. Environ Sci Pollut Res 26(11):11191–11211
Sharif A, Baris-Tuzemen O, Uzuner G, Ozturk I, Sinha A (2020a) Revisiting the role of renewable and non-renewable energy consumption on Turkey’s ecological footprint: evidence from quantile ARDL approach. Sustain Cities Soc 57:102138
Sharif A, Mishra S, Sinha A, Jiao Z, Shahbaz M, Afshan S (2020b) The renewable energy consumption-environmental degradation nexus in Top-10 polluted countries: fresh insights from quantile-on-quantile regression approach. Renew Energy 150:670–690
Shin Y, Yu B, Greenwood-Nimmo M (2014) Modelling asymmetric cointegration and dynamic multipliers in a nonlinear ARDL framework. In: Sickles RC, Horrace WC (eds) Festschrift in honor of Peter Schmidt. Springer, New York, pp 281–314
Siddique HMA (2017) Impact of financial development and energy consumption on CO2 emissions: evidence from Pakistan. Bull Bus Econ (BBE) 6(2):68–73
Siwar C, Huda N, Hamid A (2009) Trade, economic development and environment: Malaysian experience. Bangladesh Deve Stud 32(3):19–39
Tamazian A, Rao BB (2010) Do economic, financial and institutional developments matter for environmental degradation? Evidence from transitional. Econ Energy Econ 32(1):137–145
Tamazian A, Chousa JP, Vadlamannati KC (2009) Does higher economic and financial development lead to environmental degradation: evidence from BRIC countries? Energy Policy 37(1):246–253
Teodorescu AM (2012) Links between the Pillars of sustainable development. Ann Univ Craiova-Econ Sci Ser 1(40):168–173
Uchiyama K (2016) Environmental Kuznets curve hypothesis. In Environmental Kuznets curve hypothesis and carbon dioxide emissions. Springer Briefs in Economics: Springer, Tokyo
Yuxiang K, Chen Z (2011) Resource abundance and financial development: evidence from China. Resour Policy 36(1):72–79
Zafar MW, Shahbaz M, Sinha A, Sengupta T, Qin Q (2020) How renewable energy consumption contribute to environmental quality? The role of education in OECD countries. J Clean Prod 268:122149