Please use this identifier to cite or link to this item: http://hdl.handle.net/10995/101575
Title: The financial development-environmental degradation nexus in the United Arab Emirates: the importance of growth, globalization and structural breaks
Authors: Shahbaz, M.
Haouas, I.
Sohag, K.
Ozturk, I.
Issue Date: 2020
Publisher: Springer
Citation: The financial development-environmental degradation nexus in the United Arab Emirates: the importance of growth, globalization and structural breaks / M. Shahbaz, I. Haouas, K. Sohag, et al. — DOI 10.1007/s11356-019-07085-8 // Environmental Science and Pollution Research. — 2020. — Vol. 27. — Iss. 10. — P. 10685-10699.
Abstract: This article revisits the nexus between financial development and environmental degradation by incorporating economic growth, electricity consumption and economic globalization in the CO2 emissions function for the period 1975QI–2014QIV in the United Arab Emirates. We apply structural break and cointegration tests to examine unit root and cointegration between the variables. Further, the article also uses the Toda-Yamamoto causality test to investigate the causal relationship between the variables and tests the linkages of the robustness of causality by following the innovative accounting approach. Our empirical analysis shows cointegration between the series. Financial development increases CO2 emissions. Economic growth is positively linked with environmental degradation. Electricity consumption improves environmental quality. Economic globalization affects CO2 emissions negatively. The relationship between financial development and CO2 emissions is U-shaped and inverted N-shaped. Further, financial development leads to environmental degradation, and environmental degradation in turn leads to financial development in the Granger sense. © 2020, Springer-Verlag GmbH Germany, part of Springer Nature.
Keywords: ELECTRICITY
ENVIRONMENT
FINANCIAL DEVELOPMENT
GLOBALIZATION
GROWTH
CARBON DIOXIDE
CARBON EMISSION
ECONOMIC GROWTH
ELECTRICITY GENERATION
ENVIRONMENTAL DEGRADATION
FINANCIAL PROVISION
FINANCIAL SERVICES
GLOBALIZATION
GROWTH RESPONSE
INTEGRATED APPROACH
NATURE-SOCIETY RELATIONS
UNITED ARAB EMIRATES
CARBON DIOXIDE
ECONOMIC DEVELOPMENT
ELECTRICITY
INTERNATIONAL COOPERATION
UNITED ARAB EMIRATES
CARBON DIOXIDE
ECONOMIC DEVELOPMENT
ELECTRICITY
INTERNATIONALITY
UNITED ARAB EMIRATES
URI: http://hdl.handle.net/10995/101575
Access: info:eu-repo/semantics/openAccess
SCOPUS ID: 85078614391
PURE ID: 12664587
17d72700-489c-4364-be87-a4c44ba09be9
ISSN: 9441344
DOI: 10.1007/s11356-019-07085-8
Appears in Collections:Научные публикации, проиндексированные в SCOPUS и WoS CC

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