Impact of financial development, trade flows, and institution on environmental sustainability in emerging markets

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dc.authoridKöksal, Cihat/0000-0003-4621-7697
dc.authoridBekun, Festus Victor/0000-0003-4948-6905
dc.authoridGyamfi, Bright Akwasi/0000-0002-7567-9885
dc.contributor.authorBekun, Festus Victor
dc.contributor.authorGyamfi, Bright Akwasi
dc.contributor.authorKoksal, Cihat
dc.contributor.authorTaha, Amjad
dc.date.accessioned2024-09-11T19:52:15Z
dc.date.available2024-09-11T19:52:15Z
dc.date.issued2023
dc.departmentİstanbul Gelişim Üniversitesien_US
dc.description.abstractThe present study is motivated by the need to decouple economic growth from environmental degradation given the new wave of chase for higher economic growth trajectories comes with its environmental cost implications, especially among developing blocs like the Emerging 7 (E7) countries. There is a consistent trade-off between economic growth versus environmental quality. Government apparatus are perpetually on the chase for low-carbon emission policies via the pursuit for green economy. To this end, this present study extends the conventional environmental Kuznets curve (EKC) argument by incorporating the role of institution in emerging industrialized economies (E7) and using second-generation panel analysis methods like mean group (MG), augmented mean group (AMG), common correlated effects mean group (CCEMG), and the Dumitrescu and Hurlin causality test for more robust estimates and inferences. To this end, we explore the long-run and causality relationship between economic growth, quadratic form of economic growth, institutional quality, trade flow, investment in energy sector, and financial development in an EKC environment. Empirical analysis established a long-run equilibrium relationship among the outlined variables over the study period. The long-run regression shows the presence of EKC in the E7. Thus, suggesting the preference for GDP growth over environmental quality at the earlier stage of growth curve. Interestingly, investment in energy, trade flow dynamics across the blocs, and financial development dampens the detrimental effect of environmental pollution as we observed negative relationship with the ecological footprint. On the contrary, quality of institution is weak as institutional quality increase (worsen) the quality of environment in the E7 economies. From a policy perspective, this current study proposed the need for more stringent environmental treaties and regulations and promotion of green economy without compromising economic growth. In the conclusion part of the study, more details and specifics about the policy blueprint are presented.en_US
dc.identifier.doi10.1177/0958305X221147603
dc.identifier.issn0958-305X
dc.identifier.issn2048-4070
dc.identifier.scopus2-s2.0-85151083797en_US
dc.identifier.urihttps://doi.org/10.1177/0958305X221147603
dc.identifier.urihttps://hdl.handle.net/11363/7935
dc.identifier.wosWOS:000955894100001en_US
dc.identifier.wosqualityQ2en_US
dc.indekslendigikaynakWeb of Scienceen_US
dc.language.isoenen_US
dc.publisherSage Publications Ltden_US
dc.relation.ispartofEnergy & Environmenten_US
dc.relation.publicationcategoryMakale - Uluslararası Hakemli Dergi - Kurum Öğretim Elemanıen_US
dc.rightsinfo:eu-repo/semantics/closedAccessen_US
dc.snmz20240903_Gen_US
dc.subjectSDGsen_US
dc.subjectgreen economyen_US
dc.subjectEKCen_US
dc.subjectcarbon reductionen_US
dc.subjectemerging economiesen_US
dc.subjectpanel data analysisen_US
dc.titleImpact of financial development, trade flows, and institution on environmental sustainability in emerging marketsen_US
dc.typeArticleen_US

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