Please use this identifier to cite or link to this item: https://hdl.handle.net/20.500.14365/5002
Title: Investigating the Ecological Footprint and Green Finance: Evidence From Emerging Economies
Authors: Vardar, Gülin
Aydoğan, Berna
Gürel, Beyza
Keywords: Climate-related development finance
Green finance
Ecological footprint
Renewable energy consumption
O13
O44
Q01
Q50
Environmental Kuznets Curve
Co2 Emissions
Energy-Consumption
Panel Cointegration
Renewable Energy
Growth
Hypothesis
Tests
Consequences
Degradation
Publisher: Emerald Group Publishing Ltd
Abstract: PurposeConsidering the evolving importance of green finance, this study uses climate-related development mitigation finance as a proxy of green finance and investigates the impact of green finance on ecological footprint as an indicator of environmental quality along with the influence of economic growth, renewable energy, greenhouse gas emissions, trade openness and urbanization across 47 developing countries over the period 2000-2018.Design/methodology/approachAfter finding the presence of cross-sectional dependency among variables, the second-generation panel unit root test was employed to detect the order of integration among the variables. Since all the variables were found to be stationary, Westerlund cointegration technique was employed to detect the long-run relationship among the variables. Then, the long-run elasticity among the dependent and independent variables was tested using fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS) and pooled mean group-autoregressive distributed lag (PMG-ARDL) approaches.FindingsThe empirical findings suggest the presence of long-run relationship among all the variables, namely, ecological footprint, green finance, economic growth, renewable energy consumption, greenhouse gas emissions, trade openness and urbanization for the selected developing countries in the sample. Furthermore, economic growth, greenhouse gas emissions, trade openness and urbanization, all have a positive and significant impact on the ecological footprint, whereas renewable energy consumption and green finance have a significant and negative impact on the ecological footprint, which supports the view that environmental quality is improved with the greater use of renewable energy technologies and allocation of greater amounts of more green finance.Originality/valueThe empirical results of this study offer policymakers and regulators some implications for environmental policy for protecting the countries from ecological issues.
URI: https://doi.org/10.1108/JEAS-05-2023-0124
https://hdl.handle.net/20.500.14365/5002
ISSN: 1026-4116
2054-6246
Appears in Collections:Scopus İndeksli Yayınlar Koleksiyonu / Scopus Indexed Publications Collection
WoS İndeksli Yayınlar Koleksiyonu / WoS Indexed Publications Collection

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