How do financial fragility and ICT penetration affect renewable energy consumption and green growth in top-polluting economies?
Financial fragility
Green growth
ICT
Renewable energy consumption
Journal
Environmental science and pollution research international
ISSN: 1614-7499
Titre abrégé: Environ Sci Pollut Res Int
Pays: Germany
ID NLM: 9441769
Informations de publication
Date de publication:
Mar 2023
Mar 2023
Historique:
received:
02
11
2022
accepted:
21
12
2022
medline:
29
3
2023
pubmed:
1
1
2023
entrez:
31
12
2022
Statut:
ppublish
Résumé
Green growth is an extension of traditional economic growth. Financial fragility and ICT penetration are important pillars of green growth sustainability. However, very limited studies have explored this association and provided conflicting results. Thus, our study intends to fill this vacuum by exploring the impact of financial fragility and ICT penetration on renewable energy consumption and green growth for the top five polluting economies over the period 1996-2020. In this study, financial fragility is measured by bank costs and bank non-performing loans. Panel ARDL technique is used to find out long-run and short-run results estimates. Financial fragility reduces renewable energy consumption and green growth in the long run. However, internet penetration enhances renewable energy consumption and green growth in the long run. Our findings suggest imperative policy implications for the green economy.
Identifiants
pubmed: 36586019
doi: 10.1007/s11356-022-24978-3
pii: 10.1007/s11356-022-24978-3
doi:
Substances chimiques
Carbon Dioxide
142M471B3J
Types de publication
Journal Article
Langues
eng
Sous-ensembles de citation
IM
Pagination
38810-38818Informations de copyright
© 2022. The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature.
Références
Ahmed M, Hafeez M, Kaium MA, Ullah S, Ahmad H (2022) Do environmental technology and banking sector development matter for green growth? Evidence from top-polluted economies. Environ Sci Pollut Res 1–10
Atsu F, Adams S, Adjei J (2021) ICT, energy consumption, financial development, and environmental degradation in South Africa. Heliyon 7(7):e07328
doi: 10.1016/j.heliyon.2021.e07328
Bahmani-Oskooee M, Usman A, Ullah S (2020) Asymmetric J-curve in the commodity trade between Pakistan and United States: evidence from 41 industries. Eurasian Econ Rev 10(2):163–188
doi: 10.1007/s40822-019-00137-x
Baloch MA, Meng F, Zhang J, Xu Z (2018) Financial instability and CO2 emissions: the case of Saudi Arabia. Environ Sci Pollut Res 25(26):26030–26045
doi: 10.1007/s11356-018-2654-2
Balsalobre-Lorente D, Driha OM, Halkos G, Mishra S (2022a) Influence of growth and urbanization on CO2 emissions: the moderating effect of foreign direct investment on energy use in BRICS. Sustain Dev 30(1):227–240
doi: 10.1002/sd.2240
Balsalobre-Lorente D, Ibáñez-Luzón L, Usman M, Shahbaz M (2022b) The environmental Kuznets curve, based on the economic complexity, and the pollution haven hypothesis in PIIGS countries. Renew Energy 185:1441–1455
doi: 10.1016/j.renene.2021.10.059
Chao T, Yunbao X, Chengbo D, Bo L, Ullah S (2022) Financial integration and renewable energy consumption in China: do education and digital economy development matter?. Environ Sci Pollut Res 1–9
Cheng CY, Chien MS, Lee CC (2021) ICT diffusion, financial development, and economic growth: an international cross-country analysis. Econ Model 94:662–671
doi: 10.1016/j.econmod.2020.02.008
Deshuai M, Hui L, Ullah S (2022) Pro-environmental behavior–renewable energy transitions nexus: exploring the role of higher education and information and communications technology diffusion. Front Psychol 13
Doğan B, Chu LK, Ghosh S, Truong HHD, Balsalobre-Lorente D (2022) How environmental taxes and carbon emissions are related in the G7 economies? Renew Energy 187:645–656
doi: 10.1016/j.renene.2022.01.077
Grilli G, Curtis J (2021) Encouraging pro-environmental behaviours: a review of methods and approaches. Renew Sustain Energy Rev 135:110039
doi: 10.1016/j.rser.2020.110039
Hou J, Teo TS, Zhou F, Lim MK, Chen H (2018) Does industrial green transformation successfully facilitate a decrease in carbon intensity in China? An environmental regulation perspective. J Clean Prod 184:1060–1071
doi: 10.1016/j.jclepro.2018.02.311
Islam M, Managi S (2019) Green growth and pro-environmental behavior: sustainable resource management using natural capital accounting in India. Resour Conserv Recycl 145:126–138
doi: 10.1016/j.resconrec.2019.02.027
Jiang T, Yu Y, Jahanger A, Balsalobre-Lorente D (2022) Structural emissions reduction of China’s power and heating industry under the goal of “double carbon”: a perspective from input-output analysis. Sustain Prod Consump 31:346–356
doi: 10.1016/j.spc.2022.03.003
Klassen RD, McLaughlin CP (1996) The impact of environmental management on firm performance. Manag Sci 42(8):1199–1214
doi: 10.1287/mnsc.42.8.1199
Lei W, Ozturk I, Muhammad H, Ullah S (2021) On the asymmetric effects of financial deepening on renewable and non-renewable energy consumption: insights from China. Economic Research-Ekonomska Istraživanja 1–18
Li X, Ozturk I, Ullah S, Andlib Z, Hafeez M (2022) Can top-pollutant economies shift some burden through insurance sector development for sustainable development? Econ Anal Policy 74:326–336
doi: 10.1016/j.eap.2022.02.006
Liu D, Zhang Y, Hafeez M, Ullah S (2022a) Financial inclusion and its influence on economic-environmental performance: demand and supply perspectives. Environ Sci Pollut Res 1–10
Liu J, Chen Y, Wang X (2022b) Factors driving waste sorting in construction projects in China. J Clean Prod 336:130397
doi: 10.1016/j.jclepro.2022.130397
Lv Z, Liu W, Xu T (2022) Evaluating the impact of information and communication technology on renewable energy consumption: a spatial econometric approach. Renew Energy 189:1–12
doi: 10.1016/j.renene.2022.03.005
Machiba T (2011) Eco-innovation for enabling resource efficiency and green growth: development of an analytical framework and preliminary analysis of industry and policy practices. In International economics of resource efficiency (pp. 371–394). Physica-Verlag HD
Meo MS, Chowdhury MAF, Shaikh GM, Ali M, Masood Sheikh S (2018) Asymmetric impact of oil prices, exchange rate, and inflation on tourism demand in Pakistan: new evidence from nonlinear ARDL. Asia Pac J Tour Res 23(4):408–422
doi: 10.1080/10941665.2018.1445652
Misati RN, Nyamongo EM (2012) Financial liberalization, financial fragility and economic growth in Sub-Saharan Africa. J Financ Stab 8(3):150–160
doi: 10.1016/j.jfs.2011.02.001
Moyer JD, Hughes BB (2012) ICTs: do they contribute to increased carbon emissions? Technol Forecast Soc Chang 79(5):919–931
doi: 10.1016/j.techfore.2011.12.005
Nasreen S, Anwar S, Ozturk I (2017) Financial stability, energy consumption and environmental quality: evidence from South Asian economies. Renew Sustain Energy Rev 67:1105–1122
doi: 10.1016/j.rser.2016.09.021
Pesaran MH, Shin Y, Smith RP (1999) Pooled mean group estimation of dynamic heterogeneous panels. J Am Stat Assoc 94(446):621–634
doi: 10.1080/01621459.1999.10474156
Pradhan RP, Arvin MB, Nair MS, Hall JH, Bennett SE (2021) Sustainable economic development in India: the dynamics between financial inclusion, ICT development, and economic growth. Technol Forecast Soc Chang 169:120758
doi: 10.1016/j.techfore.2021.120758
Ramzan M, Raza SA, Usman M, Sharma GD, Iqbal HA (2022) Environmental cost of non-renewable energy and economic progress: do ICT and financial development mitigate some burden? J Clean Prod 333:130066
doi: 10.1016/j.jclepro.2021.130066
Safi A, Chen Y, Wahab S, Ali S, Yi X, Imran M (2021) Financial instability and consumption-based carbon emission in E-7 countries: the role of trade and economic growth. Sustain Prod Consump 27:383–391
doi: 10.1016/j.spc.2020.10.034
Si DK, Li XL, Huang S (2021) Financial deregulation and operational risks of energy enterprise: the shock of liberalization of bank lending rate in China. Energy Econ 93:105047
doi: 10.1016/j.eneco.2020.105047
Sinha A, Balsalobre-Lorente D, Zafar MW, Saleem MM (2022) Analyzing global inequality in access to energy: developing policy framework by inequality decomposition. J Environ Manag 304:114299
doi: 10.1016/j.jenvman.2021.114299
Sohail MT, Ullah S, Majeed MT (2022) Effect of policy uncertainty on green growth in high-polluting economies. J Clean Prod 380:135043
doi: 10.1016/j.jclepro.2022.135043
Steg L, Vlek C (2009) Encouraging pro-environmental behaviour: an integrative review and research agenda. J Environ Psychol 29(3):309–317
doi: 10.1016/j.jenvp.2008.10.004
Tian Y, Yang Z, Yu X, Jia Z, Rosso M, Dedman S, ... Wang J (2022) Can we quantify the aquatic environmental plastic load from aquaculture?. Water Res 219: 118551
United Nations Environment Programme (UNEP) (2020). The Emissions Gap Report 2020. Nairobi
Usman A, Ozturk I, Hassan A, Zafar SM, Ullah S (2021) The effect of ICT on energy consumption and economic growth in South Asian economies: an empirical analysis. Telematics Inform 58:101537
doi: 10.1016/j.tele.2020.101537
Usman M, Balsalobre-Lorente D (2022) Environmental concern in the era of industrialization: can financial development, renewable energy and natural resources alleviate some load? Energy Policy 162:112780
doi: 10.1016/j.enpol.2022.112780
Vorobeva D, Scott IJ, Oliveira T, Neto M (2022) Adoption of new household waste management technologies: the role of financial incentives and pro-environmental behavior. J Clean Prod 132328
Wahab S, Imran M, Safi A, Wahab Z, Kirikkaleli D (2022) Role of financial stability, technological innovation, and renewable energy in achieving sustainable development goals in BRICS countries. Environ Sci Pollut Res 1–12
Wang H, Luo Q (2022) Can a colonial legacy explain the pollution haven hypothesis? A city-level panel analysis. Struct Chang Econ Dyn 60:482–495
doi: 10.1016/j.strueco.2022.01.004
Wei L, Ullah S (2022) International tourism, digital infrastructure, and CO2 emissions: fresh evidence from panel quantile regression approach. Environ Sci Pollut Res 29(24):36273–36280
doi: 10.1007/s11356-021-18138-2
Wei X, Ren H, Ullah S, Bozkurt C (2022) Does environmental entrepreneurship play a role in sustainable green development? Evidence from emerging Asian economies. Economic Research-Ekonomska Istraživanja 1–13
Yang B, Ali M, Nazir MR, Ullah W, Qayyum M (2020) Financial instability and CO2 emissions: cross-country evidence. Air Qual Atmos Health 13(4):459–468
doi: 10.1007/s11869-020-00809-7
Zhang Z, Tian J, Huang W, Yin L, Zheng W, Liu S (2021) A haze prediction method based on one-dimensional convolutional neural network. Atmosphere 12(10):1327
doi: 10.3390/atmos12101327
Zhang D, Ozturk I, Ullah S (2022) Institutional factors-environmental quality nexus in BRICS: a strategic pillar of governmental performance. Economic Research-Ekonomska Istraživanja 1–13