Li Xiaolong, Yu Zhiyuan, Salman Asma, Ali Qaisar, Hafeez Muhammad, Aslam Muhammad Shoaib
School of Modern Post, Beijing University of Posts and Telecommunications, No.10 Xitucheng Haidian District, Beijing, 100876, People's Republic of China.
School of Economics and Management, Beijing University of Posts and Telecommunications, No.10 Xitucheng Haidian District, Beijing, 100876, People's Republic of China.
Environ Sci Pollut Res Int. 2021 Mar 1. doi: 10.1007/s11356-021-13037-y.
Sustainable development is significantly contributing the environmental degradation due to improvements in financial sector in One Belt and Road Initiative (BRI) region. Thus, the present research work constructs the sustainable development index for BRI. Afterwards, it unfolds the nexus of sustainable development-environmental degradation and also evaluates the role of financial development indicators in BRI economies. By utilizing the robust mean group, the present study quantifies the long-run marginal impacts of sustainable development, financial development indicators, energy consumption, and urban sprawl on environmental degradation, respectively. The marginal impacts infer an inverted U-shaped sustainable development environmental Kuznets curve in BRI region. The sustainable development, energy consumption, and urban sprawl are enriching the environmental degradation, whereas the financial development indicators have an adverse impact on environmental degradation by induction of interaction of sustainable development-financial development. Therefore, the improvements in financial development indicators will help to achieve the sustainable development. Note: + and _ depict the significant positive and negative impact respectively while illustrates ⇒ causal direction.
由于“一带一路”倡议（BRI）地区金融部门的改善，可持续发展对环境退化有显著影响。因此，本研究构建了“一带一路”的可持续发展指数。随后，揭示了可持续发展与环境退化之间的关系，并评估了金融发展指标在“一带一路”经济体中的作用。通过使用稳健均值组，本研究分别量化了可持续发展、金融发展指标、能源消耗和城市扩张对环境退化的长期边际影响。边际影响推断出“一带一路”地区存在倒U形的可持续发展环境库兹涅茨曲线。可持续发展、能源消耗和城市扩张加剧了环境退化，而金融发展指标通过可持续发展与金融发展的相互作用对环境退化产生不利影响。因此，金融发展指标的改善将有助于实现可持续发展。注：+和_分别表示显著的正向和负向影响，而⇒表示因果方向。
