2025· Business, Marketing, and Finance Open· Vol 2, pp. 1-11· 0 citations
Abstract
Energy plays a crucial role in the economic development of countries. Achieving economic development in developing nations appears unlikely without adequate energy resources. Over recent decades, energy demand has been rising due to population growth and changes in the economic structure of nations. This growing demand for fossil fuels has led to increased greenhouse gas emissions. In a pioneering approach, this study investigates the relationship between financial development, carbon emissions, and energy consumption in OPEC member countries over the period from 2013 to 2024. By employing econometric techniques such as the Generalized Method of Moments (GMM), Dynamic Ordinary Least Squares (DOLS), and Fully Modified Ordinary Least Squares (FMOLS), the results indicate that financial development in these countries has had a significant and positive impact on increased environmental pollution and energy consumption. These findings suggest that financial development in the examined countries has not led to the advancement of environmentally friendly technologies and may have even exacerbated environmental impacts by intensifying industrial activities.
Financial development is frequently viewed as a means of inspiring investment, technological innovation and infrastructure development, which in turn can drive sustainable economic transition. However, the impacts on the environment of the growth of financial systems are not clear, especially in emerging economies wher...
Mudassara Sarwar, R. Awan, Shamrez Ali· The social science· 0 citations
This study examines the effects of financial development, political stability, renewable energy, foreign direct investment, and national income on greenhouse gas emissions in the BRICS countries by employing the Augmented Mean Group (AMG) estimation method over the period 2002–2021. The BRICS countries have become an i...
Eda Dineri, Yunus Kılıç, Pelin Aliyev· International journal of mat...· 0 citations
Nigeria, Africa’s largest oil producer, faces significant environmental and economic challenges
due to its reliance on fossil fuels, contributing 0.74% of global CO2 emissions in 2019 (354
MtCO2e), with the energy sector accounting for 60.5% of emissions. The analysis, grounded in
the Environmental Kuznets Curve (EK...
Andekujwo Baajon Mamman· WORLD JOURNAL OF INNOVATION...· 0 citations
Financial development helps countries to achieve a high growth trajectory. However, its implications for environmental sustainability are rather complex. Rising carbon dioxide emissions, a byproduct associated with financial development activities, pose serious constraints on environmental sustainability. Numerous fact...
Azeez, Ameen, Sadia· The social science· 0 citations
This study investigates the relationship between carbon dioxide (CO2) emissions, economic growth, energy consumption, foreign direct investment, and trade openness in Kazakhstan, the Kyrgyz Republic, and Uzbekistan over the period 1997–2024. Using panel data from the World Bank and applying the Pooled Mean Group estima...
G. Bekimbetova, Alisher Eshtaev, Javlonbek Urazaliev et al.· Managing Global Transitions· 0 citations
This study examines the impact of green financing on CO₂ emissions in India using an empirical and econometric approach.
With increasing environmental concerns and rising carbon emissions due to industrialization, energy consumption, and
economic growth, green finance has emerged as a crucial tool for promoting sustain...
K. Nisha· International Journal of Aca...· 0 citations
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