Ngoc Bui Hoang, Awan Ashar
Ho Chi Minh City Open University, Ho Chi Minh City, Vietnam.
Graduate School, NisanTasi University, Istanbul, Turkey.
Environ Sci Pollut Res Int. 2022 Apr;29(16):24219-24233. doi: 10.1007/s11356-021-17565-5. Epub 2021 Nov 25.
Singapore has been ranked in the most dynamic financial market and the highest ecological deficit country, indicating that the trade-off hypothesis may exist. The main goal of the present study is to probe the impact of financial development, economic growth, and human capital on ecological footprint in Singapore from 1980 to 2016. The outcomes obtained from the Autoregressive Distributed Lag (ARDL) method have failed to provide a clear impact of financial sector development on ecological footprint. However, the Bayesian analysis reveals that both financial development and economic growth have a harmful influence on EF, while the impact of human capital is beneficial. A theoretical conclusion derived is that monetary expansion policies should be associated with improving human capital to achieve the United Nations SDGs in the context of Singapore. The findings of the study are of particular interest to policymakers for developing sound policy decisions for sustainable economic progress which is not at the cost of environment.
新加坡在最具活力的金融市场和生态赤字最高的国家中排名靠前，这表明可能存在权衡假说。本研究的主要目的是探究1980年至2016年期间金融发展、经济增长和人力资本对新加坡生态足迹的影响。自回归分布滞后（ARDL）方法得出的结果未能明确显示金融部门发展对生态足迹的影响。然而，贝叶斯分析表明，金融发展和经济增长均对生态足迹有不利影响，而人力资本的影响则是有益的。由此得出的一个理论结论是，在新加坡的背景下，货币扩张政策应与改善人力资本相结合，以实现联合国可持续发展目标。该研究结果对于政策制定者制定有利于可持续经济发展且不以环境为代价的合理政策决策具有特别的意义。
