Department of Finance, College of Business Administration, Prince Sattam Bin Abdulaziz University, Alkharj, 11942, Saudi Arabia.
Environ Sci Pollut Res Int. 2022 Jul;29(32):48301-48311. doi: 10.1007/s11356-022-19303-x. Epub 2022 Feb 21.
Trade and foreign direct investment (FDI) could have environmental consequences for local and neighboring economies due to their spatial linkages and could also affect the production and consumption-based emissions. Hence, we examine their direct and spillover effects on territory-based CO (TCO2) and consumption-based CO (CCO2) emissions in GCC countries using a period 1990-2019 and spatial Durbin model (SDM). The empirical results have corroborated the presence of the environmental Kuznets curve (EKC) in an association of economic growth and emissions in both TCO2 and CCO2 models. Hence, economic growth has a positive relationship with CO emissions at the first phase of the EKC and has a negative relationship with CO emissions at the later stage of the EKC. The spillovers of economic growth were found the opposite in the case of TCO2 and insignificant in the case of CCO2. The effect of Financial Market Development (FMD) is found negative on TCO2 emissions and insignificant on CCO2 emissions. Exports have a positive direct effect on TCO2 emissions and have negative spillovers, direct, and total effects on CCO2 emissions. The positive direct effect of exports on TCO2 reflects that exports are raising TCO2 emissions in domestic economies. On the other hand, the negative direct effect of exports on CCO2 explains that exports are helping reduce CCO2 emissions in domestic economies. Moreover, negative spillovers of exports on CCO2 indicate that increasing exports of a GCC country helps reduce CCO2 emissions in neighboring countries. In addition, the negative total effect of exports on CCO2 implies that increasing exports reduce CCO2 emissions in the whole GCC region. Imports have positive spillovers and direct effects on TCO2 and have positive spillovers effects on CCO2 emissions. FDI has negative direct and spillover effects on CCO2 and positive spillover effects on TCO2. We suggest promoting FMD, FDI, and exports to have their positive ecological effects in GCC countries.
贸易和外国直接投资（FDI）可能会对当地和周边经济体产生环境影响，因为它们具有空间联系，也可能影响生产和消费基础的排放。因此，我们使用 1990-2019 年期间和空间杜宾模型（SDM）检验了它们对海湾合作委员会（GCC）国家基于领土的二氧化碳（TCO2）和基于消费的二氧化碳（CCO2）排放的直接和溢出效应。实证结果证实了经济增长与 TCO2 和 CCO2 模型中的排放之间存在环境库兹涅茨曲线（EKC）。因此，经济增长在 EKC 的第一阶段与 CO 排放呈正相关，在 EKC 的后期阶段与 CO 排放呈负相关。在 TCO2 的情况下，经济增长的溢出效应是相反的，而在 CCO2 的情况下则不显著。金融市场发展（FMD）对 TCO2 排放的影响为负，对 CCO2 排放的影响不显著。出口对 TCO2 排放有直接的正向影响，对 CCO2 排放有负向的溢出、直接和总效应。出口对 TCO2 的直接正向效应反映了出口正在提高国内经济的 TCO2 排放。另一方面，出口对 CCO2 的直接负效应解释了出口有助于减少国内经济的 CCO2 排放。此外，出口对 CCO2 的负溢出效应表明，一个 GCC 国家增加出口有助于减少邻国的 CCO2 排放。此外，出口对 CCO2 的总负效应意味着增加出口会减少整个 GCC 地区的 CCO2 排放。进口对 TCO2 有正向的溢出和直接效应，对 CCO2 有正向的溢出效应。FDI 对 CCO2 有直接和负向的溢出效应，对 TCO2 有正向的溢出效应。我们建议促进 FMD、FDI 和出口，以在 GCC 国家产生积极的生态效应。
