Rani Tayyaba, Amjad Muhammad Asif, Asghar Nabila, Rehman Hafeez Ur
School of Economics and Finance, Xi'an Jiaotong University, Xi'an, Shaanxi China.
Department of Economics and Statistics, University of Management and Technology, Lahore, Pakistan.
Clean Technol Environ Policy. 2022;24(9):2957-2965. doi: 10.1007/s10098-022-02360-8. Epub 2022 Jul 18.
It is a global challenge to achieve sustainable economic growth by improving the environment. The present study discussed the role of the financial development sector in achieving sustainable economic growth and environmental quality in South Asian countries from 1990 to 2020 by controlling labour force participation, globalization, industrialization, and the education sector. A feasible generalized least squares (FGLS) panel data econometric technique has been used to check the relationship among the variables. The results show that financial development has a U-shaped relationship with carbon emissions and economic growth. Furthermore, labour force participation, industrialization, globalization, and educational school enrolment significantly increase CO and economic growth. This study suggests that the governments of South Asian countries should take steps to increase economic growth. For this purpose, effective supervisory mechanisms of financial development through financial innovation, improving financial efficiency, maintaining financial stability, and reducing the environmental pollution.
通过改善环境来实现可持续经济增长是一项全球性挑战。本研究通过控制劳动力参与率、全球化、工业化和教育部门，探讨了1990年至2020年期间金融发展部门在南亚国家实现可持续经济增长和环境质量方面的作用。采用可行广义最小二乘法（FGLS）面板数据计量技术来检验变量之间的关系。结果表明，金融发展与碳排放和经济增长呈U型关系。此外，劳动力参与率、工业化、全球化和教育入学率显著增加了碳排放和经济增长。本研究建议南亚国家政府应采取措施促进经济增长。为此，通过金融创新建立有效的金融发展监管机制，提高金融效率，维持金融稳定，并减少环境污染。
