The financial development-environmental degradation nexus in the United Arab Emirates: the importance of growth, globalization and structural breaks
Yükleniyor...
Tarih
2020
Yazarlar
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
Erişim Hakkı
info:eu-repo/semantics/openAccess
Özet
This article revisits the nexus between financial development and environmental degradation by incorporating economic growth,
electricity consumption and economic globalization in the CO2 emissions function for the period 1975QI–2014QIV in the United Arab
Emirates. We apply structural break and cointegration tests to examine unit root and cointegration between the variables. Further, the
article also uses the Toda-Yamamoto causality test to investigate the causal relationship between the variables and tests the linkages of
the robustness of causality by following the innovative accounting approach. Our empirical analysis shows cointegration between the
series. Financial development increases CO2 emissions. Economic growth is positively linked with environmental degradation.
Electricity consumption improves environmental quality. Economic globalization affects CO2 emissions negatively. The relationship
between financial development and CO2 emissions is U-shaped and inverted N-shaped. Further, financial development leads to
environmental degradation, and environmental degradation in turn leads to financial development in the Granger sense.
Açıklama
Anahtar Kelimeler
Financial development . Environment . Growth . Electricity . Globalization, Financial development, Environment, Growth, Electricity, Globalization
Kaynak
Environmental Science and Pollution Research
WoS Q Değeri
Q2
Scopus Q Değeri
Q1
Cilt
27
Sayı
10
Künye
Shahbaz, M., Haouas, I., Sohag, K., & Ozturk, I. (2020). The financial development-environmental degradation nexus in the united arab emirates: The importance of growth, globalization and structural breaks. Environmental Science and Pollution Research, 27(10), 10685-10699.
