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The criticality of financial development and energy consumption for environmental sustainability in OECD countries: Evidence from dynamic panel analysis
International Journal of Sustainable Development and World Ecology ( IF 5.6 ) Pub Date : 2021-06-02 , DOI: 10.1080/13504509.2021.1934179
Olatunji Abdul Shobande 1 , Lawrence Ogbeifun 2
Affiliation  

ABSTRACT

This study explored whether financial development and energy consumption affect environmental sustainability in Organization for Economic Cooperation and Development (OECD) countries. The empirical evidence used in this study was based on the standard fixed effects and the Arellano-Bover/Bundell Bond dynamic panel approach. Our empirical results demonstrated the importance of a financial development index and energy efficiency for reducing carbon emissions and promoting sustainability in the OECD. The mechanism through which financial development affects carbon emissions has been identified as energy consumption and foreign direct investment. Our study recommends that financial development be prioritised alongside investments in energy efficiency to promote environmental sustainability.



中文翻译:

经合组织国家金融发展和能源消耗对环境可持续性的重要性:来自动态面板分析的证据

摘要

本研究探讨了金融发展和能源消耗是否会影响经济合作与发展组织 (OECD) 国家的环境可持续性。本研究中使用的经验证据基于标准固定效应和 Arellano-Bover/Bundell Bond 动态面板方法。我们的实证结果证明了金融发展指数和能源效率对于减少碳排放和促进经合组织可持续发展的重要性。金融发展影响碳排放的机制已被确定为能源消耗和外国直接投资。我们的研究建议优先考虑金融发展以及能源效率投资,以促进环境可持续性。

更新日期:2021-06-02
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