The non-linearity between financial development and carbon footprints
The environmental roles of technological innovation, renewable energy, and foreign direct investment
Bibliographic Data
| ID | 15067792 |
|---|---|
| Authors | Yanlei Sun (0000-0001-5229-3309, School of Economics and Management, Shaanxi University of Science & Technology (SUST), Xi’an, Shaanxi, China), Raad Mahmoud Al-Tal (0000-0002-2336-9519, University of Jordan), Abu Bakkar Siddik (0000-0002-3953-198X, University of Science and Technology of China), Samiha Khan (0000-0001-9332-0967, North South University, corresponding author), Muntasir Murshed (0000-0001-9872-8742, North South University), Rafael Alvarado (0000-0002-3213-5431, Esai Business School, Universidad Espíritu Santo, Samborondon, Ecuador) |
| Year | 2023 |
| Volume | 36 |
| Issue | 2 |
| Publication date | 2023-07-10 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Economic Research-Ekonomska Istraživanja (JOURNAL) |
| Journal identifiers | ISSN: 1331-677X • E-ISSN: 1848-9664 |
| Publisher | Informa UK Limited (PUBLISHER • GB) |
| DOI | 10.1080/1331677x.2023.2174153 |
| OpenAlex | W4323832201 |
| Language | EN |
| Citations received | 4 |
| References cited | 56 |
The economies of the majority of the South Asian countries have substantially expanded in the last couple of decades. Nevertheless, the simultaneous deterioration in environmental quality questions the quality of such growth performances of the South Asian countries in light of their environmental sustainability objectives. As a result, limiting the environmental hardships faced by these countries is deemed as an important agenda of the concerned governments. Therefore, this study aims to examine the determinants of carbon footprints in selected South Asian countries using advanced panel data econometric methods. Overall, the findings confirm an inverted U-shaped association between financial development and carbon footprints based on which the environmental Kuznets curve hypothesis is verified in the long run. Besides, technological innovation is evidenced to curb the short- and long run levels of carbon footprints while renewable energy transition exerts carbon footprint-inhibiting impact only in the long run. Further, the findings verify the pollution haven hypothesis by confirming carbon footprint-boosting impact of net foreign direct investment inflows. Consequently, for improving environmental quality, South Asian economies should develop their financial sectors further, discover green technologies, undergo renewable energy transition, and restrict inflows of unclean foreign direct investments
Business · Carbon Footprint · Clean technology · Development economics · Ecological footprint · Economic growth · Economics · Environmental pollution · Environmental protection · Environmental quality · Foreign direct investment · Geography · Green growth · Greenhouse gas · International economics · Kuznets Curve · Macroeconomics · Natural resource economics · Panel data · Pollution haven hypothesis · Renewable energy · Sustainability · Sustainable development · Energy, Environment, and Transportation Policies · Energy, Environment, Economic Growth · Environmental Impact and Sustainability
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| Citations per year | 4 |
|---|---|
| Citation span | 2025 - 2026 (2) |
| Highly cited | No |