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Sheraz, Muhammad(学),徐德义* Moderating the effect of globalization on financial development, energy consumption, human capital, and c​arbon emissions: evidence from G20 countries

发布人:陈永佳 发布时间:2022-10-31 点击次数:

我校经济管理学院徐德义老师团队在T2级别期刊——《Environmental science and pollution research international》上发表题为“Moderating the effect of globalization on financial development, energy consumption, human capital, and carbon emissions: evidence from G20 countries”。论文通讯作者徐德义为经济管理学院教授、博士生导师。

Abstract / 摘要

MT 关于二氧化碳( CO2 )排放的金融发展和动态的政策争论是话题。全球化可以通过对绿色能源和环境友好技术进行财政投资来影响这种关系,因为环境可持续性是现代社会的首要关切。本研究提出了一个新制定的概念框架,探讨全球化对行星外变量(金融发展、能源消耗、人力资本、国内生产总值)和CO2排放的调节作用。我们采用固定效应普通最小二乘法( FE- OLS )、Driscoll-Kraay标准误差法( D-K )以及Dumitrescu和Hurlin ( 2012 )的面板因果检验。我们的研究样本包括1986年至2018年G20国家(不包括欧洲联盟)的全部和分样本。结果表明,金融发展和人力资本降低了碳排放,而GDP和能源消费在研究期间大幅提高了碳排放。此外,全球化缓和了金融发展和人类发展对碳排放的积极影响。一个可持续的环境议程是通过更强有力的金融体系来实现的,鼓励绿色金融,包括提高生产效率的技术教育。然而,全球化缓和了能源消费和GDP对碳排放的负面影响。此外,我们还报告了GDP对能源消费的双向因果关系。我们的实证研究为政策制定者和政府在实现可持续经济目标的同时,制定以国家为基础的保护环境质量的政策提供了新的见解。

原文 The policy debate on the financial development and dynamic of carbon dioxide (CO2) emission is topical. Globalization can affect this relationship by making financial investments in green energy and environment-friendly technology, as environmental sustainability is the primary concern for modern society. This study proposes a newly formulated conceptual framework to explore globalization's moderating role on exoplanetary variables (financial development, energy consumption, human capital, and gross domestic product) and CO2 emission. We employed Fixed Effect Ordinary Least Squares (FE-OLS), Driscoll-Kraay standard error approach (D-K), and Dumitrescu and Hurlin's (2012) panel causality test. Our sample of the study comprised full and subsamples of G20 countries (excluding the European Union) from 1986 to 2018. The results indicated that financial development and human capital decreased carbon emissions, while GDP and energy consumption substantially increased carbon emissions during the study time. Further, globalization moderated the positive impact of financial development and human development on carbon emissions. A sustainable environmental agenda is achieved by a stronger financial system, encouraging green finance, and including technical education that improves production efficiency. However, globalization moderated the negative impact of energy consumption and GDP on carbon emission. Besides, we also reported the bidirectional causal relationship of GDP to energy consumption. Our empirical research provides new insights for policymakers and governments to formulate country-based policies to protect environmental quality while achieving sustainable economic goals.

论文信息;

Title/题目:

Moderating the effect of globalization on financial development, energy consumption, human capital, and carbon emissions: evidence from G20 countries.

Authors/作者:

Sheraz Muhammad; Deyi Xu; Ahmed Jaleel; Ullah Saif; Ullah Atta

Key Words / 关键词

CO2 emission; Causality; Energy consumption; Financial development; Globalization; Gross domestic product; Human capital

Indexed by / 核心评价

Scopus; SCI; WAJCI; AHCI; MEDLINE;

DOI: 10.1007/S11356-021-13116-0

全文链接:https://pubmed.ncbi.nlm.nih.gov/33665700/