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Phát thải CO2 có phải là tác dụng phụ của phát triển tài chính? Phân tích thực nghiệm cho Trung Quốc
Tóm tắt
Dựa trên dữ liệu bảng cho 29 tỉnh của Trung Quốc từ năm 1995 đến 2012, bài báo này khám phá mối quan hệ giữa phát triển tài chính và chất lượng môi trường ở Trung Quốc. Một khung tổng quát được sử dụng để ước lượng cả tác động trực tiếp và gián tiếp của phát triển tài chính đến phát thải CO2 ở Trung Quốc thông qua một mô hình hồi quy hai giai đoạn được thiết kế cẩn thận. Phương pháp sai khác đầu tiên và phương pháp Độ lệch chính tắc Tổng quát (GMM) được sử dụng để kiểm soát tính nội sinh tiềm năng và giới thiệu động lực. Để đảm bảo độ tin cậy của các ước lượng, hai chỉ số đo lường phát triển tài chính - độ sâu tài chính và hiệu quả tài chính - được sử dụng. Kết quả thực nghiệm chỉ ra rằng tác động trực tiếp của độ sâu tài chính là dương và tác động trực tiếp của hiệu quả tài chính là âm đối với chất lượng môi trường. Tác động gián tiếp của cả hai chỉ số có hình dạng chữ U và chiếm ưu thế trong hình dạng của các tác động tổng thể. Những phát hiện này gợi ý rằng ảnh hưởng của phát triển tài chính đến môi trường phụ thuộc vào mức độ phát triển kinh tế. Ở giai đoạn đầu của sự tăng trưởng kinh tế, phát triển tài chính là thân thiện với môi trường. Khi nền kinh tế phát triển cao, mức độ phát triển tài chính cao hơn lại có hại cho chất lượng môi trường.
Từ khóa
#phát triển tài chính #chất lượng môi trường #phát thải CO2 #Trung Quốc #phương pháp GMMTài liệu tham khảo
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