Determinants of carbon emissions in Argentina: The roles of renewable energy consumption and globalization

Using several recently available global datasets, this Staff Discussion Note examines macroeconomic effects of financial inclusion. It finds significant benefits to economic growth from financial inclusion, but the benefits diminish as financial inclusion and depth become large. Broadening access to credit can compromise economic and bank stability in countries with weak bank supervision. Other forms of financial inclusion—such as access to and use of bank accounts, branches, and ATMs—do not hurt stability, and can be promoted extensively. The note finds that gaps in financial inclusion are associated with economic inequality, but the association appears relatively weak.

https://www.imf.org/-/media/Websites/IMF/imported-full-text-pdf/external/pubs/ft/sdn/2015/_sdn1517.ashx

Financial Inclusion; Can it Meet Multiple Macroeconomic Goals?

Can digital financial inclusion affect CO2 emissions of China at the prefecture level? Evidence from a spatial econometric approach

Achieving carbon-neutrality has become a global agenda following the ratification of the Paris Agreement. For the developing countries, in particular, attaining a low-carbon economy is particularly important since these economies are predominantly fossil-fuel dependent, to which Bangladesh is no exception. Therefore, this study specifically aimed at evaluating the environmental impacts associated with energy consumption and other key macroeconomic variables in the context of Bangladesh over the 1975–2016 period. As opposed to the conventional practice of using carbon dioxide emissions to proxy environmental quality, this study makes a novel attempt to use the carbon footprints to measure environmental welfare in Bangldesh. The outcomes from this study are expected to facilitate the carbon-neutrality objective of Bangladesh and, therefore, enable the nation to comply with its commitments concerning the attainment of the targets enlisted under the Paris Agreement and the United Nations Sustainable Development Goals declarations. The econometric analysis involved the application of methods that are suitable for handling the structural break issues in the data. The overall findings from empirical exercises reveal that aggregate energy consumption, fossil fuel consumption, and natural gas consumption boost the carbon footprint figures of Bangladesh. In contrast, nonfossil fuel consumption and hydroelectricity consumption are witnessed to abate the carbon footprint levels. Besides, economic growth and international trade are also evidenced to further increase the carbon footprints. Hence, these findings suggest that a clean energy transition within the Bangladesh economy can be the panacea to the nation's persitently aggravating environmental hardships. Furthermore, the causality analysis confirmed the presence of unidirectional causalities stemming from total energy consumption, fossil fuel consumption, natural gas consumption, hydroelectricity consumption, economic growth, and international trade to the carbon footprints. On the other hand, nonfossil fuel consumption is found to be bidirectionally associated with carbon footprints. In line with these aforementioned findings, several key policy suggestions are put forward regarding the facilitation of the carbon-neutrality agenda in Bangladesh.

Reinvigorating the role of clean energy transition for achieving a low-carbon economy: evidence from Bangladesh

The Southeast Asian countries have experienced significant degrees of economic growth over the years but have not managed to safeguard their environmental attributes in tandem. As a result, the aggravation of the environmental indicators across this region casts a shadow of doubt on the sustainability of the economic growth achievements of the Southeast Asian countries. Against this milieu, this study specifically explores the influence of renewable electricity generation capacity, technological innovation, financial development, and economic growth on the ecological footprints in five Southeast Asian countries namely Indonesia, Malaysia, the Philippines, Thailand, and Vietnam during the period 1985–2016. One of the major novelties of this study is in terms of its approach to assess the renewable energy use-ecological footprint nexus using the renewable electricity generation capacity as an indicator of renewable energy use in the selected Southeast Asian nations. The econometric analysis involves methods that are robust to handling cross-sectional dependency and slope heterogeneity issues in the data. Accordingly, the recently developed Cross-sectional Augmented Autoregressive Distributed Lag estimator is used to predict the short- and long-run impacts on ecological footprints. The major findings suggest that higher renewable electricity generation capacity and technological innovation reduce ecological footprints, while higher financial development and economic growth increase the ecological footprints. Therefore, these findings imply that in forthcoming years, the selected Southeast Asian countries will need to tackle the environmental adversities by enhancing their renewable electricity generation capacities, increasing investment in technological development, greening the financial sector, and adopting environmentally-friendly growth policies. Hence, the implementation of relevant policies, in this regard, can be expected to ensure complementarity between economic growth and environmental welfare across Southeast Asia.

The influences of renewable electricity generation, technological innovation, financial development, and economic growth on ecological footprints in ASEAN-5 countries

Xu Miao

Papers

Does financial inclusion limit carbon dioxide emissions? Analyzing the role of globalization and renewable electricity output

Carbon neutrality target for G7 economies: Examining the role of environmental policy, green innovation and composite risk index.

Revisiting financial development and renewable energy electricity role in attaining China's carbon neutrality target.