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Sustainability of the Moderating Role of Financial Development in the Determinants of Environmental Degradation: Evidence from Turkey

Sustainability, 2021-02, Vol.13 (4), p.1844 [Peer Reviewed Journal]

2021. This work is licensed under http://creativecommons.org/licenses/by/3.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License. ;ISSN: 2071-1050 ;EISSN: 2071-1050 ;DOI: 10.3390/su13041844

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  • Title:
    Sustainability of the Moderating Role of Financial Development in the Determinants of Environmental Degradation: Evidence from Turkey
  • Author: Rjoub, Husam ; Odugbesan, Jamiu Adetola ; Adebayo, Tomiwa Sunday ; Wong, Wing-Keung
  • Subjects: Air pollution ; Carbon ; Carbon dioxide ; Climate change ; Degradation ; Determinants ; Econometrics ; Economic development ; Economic growth ; Emissions ; Emissions control ; Energy consumption ; Energy resources ; Environmental degradation ; Environmental policy ; Environmental quality ; Finance (company) ; GDP ; Gross Domestic Product ; Hypotheses ; Investigations ; Securities markets ; Sustainability ; Sustainable development ; Time series ; Urbanization
  • Is Part Of: Sustainability, 2021-02, Vol.13 (4), p.1844
  • Description: One of the questions that remain unanswered in the literature on determinants of carbon emissions is the moderating effect of “financial development”. This becomes imperative, owing to the connection of carbon emissions to environmental degradation, which is considered to be one of the main challenges to sustainable development. Thus, this study investigated the moderating role of financial development in the determinants of carbon emissions for Turkey during the period of 1960 to 2016. Zivot–Andrew and Lee–Strazicich “unit root tests” were utilized to investigate the stationarity properties of the series. The cointegration among the variables employed was examined by utilizing the ARDL bounds test and Bayer–Hanck cointegration test. In contrast, the long-run causal relationship of the variables with carbon emissions was examined by using fully modified ordinary least square (FMOLS), dynamic OLS (DOLS), and Canonical Cointegrating Regression (CCR). The empirical findings reveal the significance of “economic growth”, “capital formation”, “energy consumption”, “urbanization”, and “financial development” as determinants of environmental degradation in Turkey. The study also found the significant moderating role of “financial development” in the relationship between “economic growth” and carbon emissions, capital formation and carbon emissions, and urbanization and carbon emissions. The environmental–financial related policies were suggested for the policymakers in Turkey to aid the reduction of carbon emission with the view of improving environmental quality.
  • Publisher: Basel: MDPI AG
  • Language: English
  • Identifier: ISSN: 2071-1050
    EISSN: 2071-1050
    DOI: 10.3390/su13041844
  • Source: GFMER Free Medical Journals
    ROAD: Directory of Open Access Scholarly Resources
    ProQuest Central
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