Considering the asymmetric effect of financial deepening on environmental quality in BRICS economies: Policy options for the green economy

Basit Öğe Kaydı
dc.authoridLi, Xiaolong/0000-0002-4106-8322
dc.authoridMajeed, Muhammad Tariq/0000-0001-9374-5025
dc.authoridullah, sana/0000-0003-3431-9776
dc.contributor.authorLi, Xiaolong
dc.contributor.authorOzturk, Ilhan
dc.contributor.authorMajeed, Muhammad Tariq
dc.contributor.authorHafeez, Muhammad
dc.contributor.authorUllah, Sana
dc.date.accessioned2025-03-07T20:19:26Z
dc.date.available2025-03-07T20:19:26Z
dc.date.issued2022
dc.departmentÇağ Üniversitesi
dc.description.abstractThis study aims to estimate the nexus between financial deepening and environmental quality in Brazil, Russia, India, China, and South Africa (BRICS) economies by using the data over 1990-2019. For analysis, we relied on panel linear and nonlinear autoregressive distributed lag (ARDL). Three different variables i.e. financial deepening index, financial institution deepening, and financial market deepening are used to represent financial deepening in BRICS countries. In the long run, our linear models confirmed the positive role of financial deepening in improving environmental quality. Conversely, the symmetric estimates of financial institution deepening and financial market deepening are positively significant implying that both these measures cause the CO2 emissions to rise, thus hurts the environmental quality in BRICS in long run. In the non-linear models, the positive shock in all the measures of financial deepening increases the CO2 emissions while the negative shock deteriorates the CO2 emissions, in all three models, in the long run. In the short-run, the variables of financial deepening provide mixed results during linear and non-linear analysis. Moreover, CO2 emissions respond asymmetrically to a positive and negative change in financial deepening in the long run only. Although financial deepening in the BRICS economies helps reduce the CO2 emissions, the BRICS are still among the top ten emitters of the world. Therefore, the role of financial deepening should be further enhanced in achieving a sustainable environment.
dc.identifier.doi10.1016/j.jclepro.2021.129909
dc.identifier.issn0959-6526
dc.identifier.issn1879-1786
dc.identifier.scopus2-s2.0-85120507004
dc.identifier.scopusqualityQ1
dc.identifier.urihttps://doi.org/10.1016/j.jclepro.2021.129909
dc.identifier.urihttps://hdl.handle.net/20.500.12507/3181
dc.identifier.volume331
dc.identifier.wosWOS:000773483100001
dc.identifier.wosqualityQ1
dc.indekslendigikaynakWeb of Science
dc.indekslendigikaynakScopus
dc.language.isoen
dc.publisherElsevier Sci Ltd
dc.relation.ispartofJournal of Cleaner Production
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanı
dc.rightsinfo:eu-repo/semantics/closedAccess
dc.snmzKA_WoS_20241226
dc.subjectFinancial deepening
dc.subjectenvironmental quality
dc.subjectBRICS
dc.titleConsidering the asymmetric effect of financial deepening on environmental quality in BRICS economies: Policy options for the green economy
dc.typeArticle

Dosyalar

Koleksiyon

WoS İndeksli Yayınlar Koleksiyonu
Scopus İndeksli Yayınlar Koleksiyonu