This paper investigates the oil resource abundance and environmental quality nexus in Algeria, with emphasis on the role of oil export receipts and domestic oil consumption, and whether financial development is a policy option for reducing carbon dioxide (CO₂) emissions in the economy. Using time series data from 1971 to 2016, the Bayer–Hanck test for cointegration confirms the presence of a long-run equilibrium relationship among the variables. Further analyses based on the auto-regressive distributed lag (ARDL) model, fully modified least square (FMOLS), dynamic ordinary least square (DOLS), canonical cointegration regression (CCR) and Granger causality based on the vector error correction model (VECM) confirm the oil resource abundance curse in Algeria via the impact of domestic oil consumption on environmental quality. The estimates also show that financial development reduces CO₂ emissions and has both short-run and long-run causal impact on economic growth. Thus, deepening financial sector development can be instrumental for achieving a low-carbon and sustainable economy in Algeria.

中文翻译：

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打破碳诅咒：金融发展在促进阿尔及利亚低碳可持续发展中的作用

本文调查了阿尔及利亚石油资源丰度和环境质量的关系，重点关注石油出口收入和国内石油消费的作用，以及金融发展是否是减少二氧化碳 (CO ₂) 经济中的排放。使用 1971 年至 2016 年的时间序列数据，Bayer-Hanck 协整检验证实了变量之间存在长期均衡关系。基于自回归分布滞后（ARDL）模型、完全修正最小二乘法（FMOLS）、动态普通最小二乘法（DOLS）、典型协整回归（CCR）和基于向量误差校正模型（VECM）的格兰杰因果关系的进一步分析通过国内石油消费对环境质量的影响，证实了阿尔及利亚的石油资源丰富诅咒。估计还表明金融发展减少了 CO ₂排放，并对经济增长具有短期和长期的因果影响。因此，深化金融部门的发展有助于在阿尔及利亚实现低碳和可持续的经济。