Does financial development reduce environmental degradation? Evidence from a panel study of 129 countries

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dc.authoridOzturk, Ilhan -- 0000-0002-6521-0901; Al-mulali, Usama -- 0000-0001-6431-7873; Tang, Chor Foon -- 0000-0003-2242-9222
dc.contributor.authorAl-mulali, Usama
dc.contributor.authorTang, Chor Foon
dc.contributor.authorÖztürk, İlhan
dc.date.accessioned12.07.201910:50:10
dc.date.accessioned2019-07-12T15:27:58Z
dc.date.available12.07.201910:50:10
dc.date.available2019-07-12T15:27:58Z
dc.date.issued2015
dc.departmentMeslek Yüksekokuluen_US
dc.descriptionWOS: 000362329300049en_US
dc.descriptionPubMed: 25994273en_US
dc.description.abstractThe purpose of this study is to explore the effect of financial development on CO2 emission in 129 countries classified by the income level. A panel CO2 emission model using urbanisation, GDP growth, trade openness, petroleum consumption and financial development variables that are major determinants of CO2 emission was constructed for the 1980-2011 period. The results revealed that the variables are cointegrated based on the Pedroni cointegration test. The dynamic ordinary least squares (OLS) and the Granger causality test results also show that financial development can improve environmental quality in the short run and long run due to its negative effect on CO2 emission. The rest of the determinants, especially petroleum consumption, are determined to be the major source of environmental damage in most of the income group countries. Based on the results obtained, the investigated countries should provide banking loans to projects and investments that can promote energy savings, energy efficiency and renewable energy to help these countries reduce environmental damage in both the short and long run.en_US
dc.identifier.doi10.1007/s11356-015-4726-x
dc.identifier.endpage14900en_US
dc.identifier.issn0944-1344
dc.identifier.issn1614-7499
dc.identifier.issue19en_US
dc.identifier.pmid25994273
dc.identifier.scopus2-s2.0-84943198595
dc.identifier.scopusqualityQ1
dc.identifier.startpage14891en_US
dc.identifier.urihttps://doi.org/10.1007/s11356-015-4726-x
dc.identifier.urihttps://hdl.handle.net/20.500.12507/563
dc.identifier.volume22en_US
dc.identifier.wosWOS:000362329300049
dc.identifier.wosqualityQ2
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.indekslendigikaynakPubMed
dc.language.isoen
dc.publisherSPRINGER HEIDELBERGen_US
dc.relation.ispartofEnvıronmental Scıence and Pollutıon Research
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/openAccessen_US
dc.subjectCO2 emissionen_US
dc.subjectFinancial Developmenten_US
dc.subjectUrbanisationen_US
dc.subjectGDP Growthen_US
dc.subjectTrade Opennessen_US
dc.subjectPetroleum Consumptionen_US
dc.titleDoes financial development reduce environmental degradation? Evidence from a panel study of 129 countries
dc.typeArticle

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