China Center for Special Economic Zone Research, Shenzhen University, Shenzhen, China.
Business School of Xiangtan University, Xiangtan, Hunan, China.
Environ Sci Pollut Res Int. 2022 Feb;29(9):13356-13368. doi: 10.1007/s11356-021-16626-z. Epub 2021 Sep 29.
This study explores the moderating role of institutional quality on carbon emissions using data from a global panel regarding renewable energy consumption, foreign direct investment, economic growth and financial development between 2002 and 2019. Using the two-step system generalized method of moments, the results illustrate that in the panel data, renewable energy usage and foreign direct investment inflow enhance environmental quality, while financial development and economic growth lower it. The results show that many countries' quality institutions cannot yet adequately mitigate the harmful impact of each environmental factor and protect the environment; however, the institutional quality interaction term confirms the significant moderating effect of all explanatory variables on environmental quality in the panel data. The findings also confirm the existence of the environmental Kuznets curve and demonstrate the pollution halo hypothesis. The findings in this paper may be useful for policymakers when enacting stricter environmental regulations.
本研究利用 2002 年至 2019 年全球可再生能源消费、外国直接投资、经济增长和金融发展面板数据，探讨了制度质量对碳排放的调节作用。采用两步系统广义矩方法，结果表明，在面板数据中，可再生能源使用和外国直接投资流入量提高了环境质量，而金融发展和经济增长则降低了环境质量。结果表明，许多国家的优质制度尚不能充分减轻每种环境因素的有害影响并保护环境；然而，制度质量交互项证实了所有解释变量在面板数据中对环境质量的显著调节作用。研究结果还证实了环境库兹涅茨曲线的存在，并证明了污染光环假说。本文的研究结果可能有助于政策制定者在制定更严格的环境法规时参考。
