The study analyzes the role of financial development on CO2 emissions based on the primary studies in the existing literature. However, the heterogeneity in reported effect size estimates of the primary studies complicates to test the competing hypotheses for the role of financial development on CO2 emissions. The paper tries to determine and quantify the representative empirical genuine effect of financial development on CO2 emissions, if any. To address the issue, a meta-regression analysis has been carried out for 275 estimation results from 72 primary studies. We have found a substantial publication selection bias in the literature due to the design characteristics of the primary studies. The results suggest the presence of an authentic positive empirical effect of financial development on CO2 emissions beyond publication selection bias. Hence, financial development leads to environmental degradation. The effect of financial development on carbon emissions changes both in magnitude and direction depending on which financial development indicator is used, which estimation technique is employed, which countries or region are included and which time period is analyzed.

The role of financial development on carbon emissions: a meta regression analysis.

Trade openness is one of the main channels of globalization and technological transfers In environmental economic literature, the implications of trade openness remain controversial and still could be potential drivers of carbon dioxide emissions This study therefore explores the effect of trade openness in developed countries using EU-18 economies We employed an econometric approach that accounts for cross-section dependence among study variables The panel CIPS and CADF unit root show that the variables are stationary and the long-run relationship was confirmed in Westerlund cointegration tests The mean group (MG) and augmented mean group (AMG) results show that trade openness increases CO2-emissions in EU-18 Again, energy consumption and urbanization escalate emissions The study confirmed the environmental Kuznets curve Finally, pollution halo and pollution haven hypothesis were confirmed at both estimation methods The Dumetriscu-Hurlin Granger causality test results confirmed bidirectional causality between trade openness and energy consumption and between trade openness and economic growth Again, unidirectional Granger causality is running from trade openness and CO2 emissions Policy recommendations are further proposed

The influence of trade openness on environmental pollution in EU-18 countries

The shadow economy and sustainable development: The role of financial development

Growing economic development and substantial demographic shifts may have a momentous consequence on environmental quality in a number of African countries. Consequently, this recent study offers the opportunity to explore the nexus among unobserved influential economic indicators and environmental quality (measured through CO2 emissions) in a panel of 26 African economies spanning from 1990 to 2018. The aggregated panel is sub-classified into net exporters (NEC) and net importers (NIC) of embodied carbon. Considering existence of cross-section reliance and heterogeneity issues, all observed series are preliminarily confirmed stationary and cointegrated. Further, key outcomes from the common correlated effect Pooled Mean Group (CCEPMG) estimator through cross-sectional autoregressive distributed lag (CSARDL) approach showed that (i) economic growth and fossil fuel energy use stimulate environmental degradation among all panels, (ii) urbanization and trade openness enhance environmental quality in NEC panel while environmental damage is increased in NIC and aggregated panels, (iii) financial development also enhanced environmental quality in the totaled and NEC panel of African countries, but rather maturated climate deterioration in NIC panel, (iv) industrialization had a substantial adverse effect on environmental quality through surge in emission of CO2 concerning the aggregated panel and NEC African states, and (v) overall the environmental Kuznets curve (EKC) conjuncture is validated among all panels. The findings were also affirmed by Augmented Mean Group (AMG) technique. Finally, Dumitrescu-Hurlin Granger causality checks showed strong causal affiliations heterogeneously across all panels. From the policy perspective, the analytical outcomes from this study summarily encourage the introduction of profitable policies that can facilitate green energy and economic structural change to diminish the degree of environmental degradation from emission of CO2. Steps to strengthen a low-carbon and sustainable green environment should therefore collectively address these factors during policy growth.

Potential economic indicators and environmental quality in African economies: new insight from cross-sectional autoregressive distributed lag approach

Demonetization and digitalization: The Indian government's hidden agenda

Financial inclusion, banking the unbanked: Concepts, issues, and policies for India

An Indian story on carbon emission, energy consumption, trade openness, and financial development

https://onlinelibrary.wiley.com/doi/pdf/10.1002/pa.1880

Priyanka Menon

Papers

Financial inclusion, banking the unbanked: Concepts, issues, and policies for India

An Indian story on carbon emission, energy consumption, trade openness, and financial development

The rise of the shadow economy: An Indian perspective