Afshan Sahar, Yaqoob Tanzeela, Meo Muhammad Saeed, Hamid Bushra
Department of Economics and Finance, Sunway Business School, Sunway University, Petaling Jaya, Malaysia.
Department of Statistics, University of Karachi, Karachi, Pakistan.
Environ Sci Pollut Res Int. 2023 May;30(22):61726-61740. doi: 10.1007/s11356-023-26346-1. Epub 2023 Mar 18.
Environmental sustainability is an umbrella approach depending on various climatic and economic policies. In doing so, the current study empirically evaluates the role of green finance, eco-innovation, and environmental policy stringency on the ecological footprint in China. To meet the objectives, the novel quantile autoregressive distributed lag (QARDL) approach was employed from 2000 to 2017. The outcomes reveal heterogeneous associations between the proposed variables. Manifestly, the QARDL estimation results demonstrate a positive impact between eco-innovation, green finance, and environmental policy stringency with the ecological footprints of China; however, the extent of the relationship is quantile dependent. The outcomes are further validated through the Wald test of parameter constancy. The bi-direction causality is observed among all variables at several quantiles. The current study offers policymakers helpful suggestions on enhancing the positive effects of environmentally supported innovation, green finance, and stringent environmental policies on the ecosystem.
环境可持续性是一种依赖于各种气候和经济政策的综合方法。在此过程中，本研究实证评估了绿色金融、生态创新和环境政策严格性对中国生态足迹的作用。为实现这些目标，采用了2000年至2017年新颖的分位数自回归分布滞后（QARDL）方法。结果揭示了所提出变量之间的异质性关联。显然，QARDL估计结果表明生态创新、绿色金融和环境政策严格性与中国的生态足迹之间存在积极影响；然而，这种关系的程度取决于分位数。通过参数稳定性的Wald检验进一步验证了结果。在几个分位数上观察到所有变量之间存在双向因果关系。本研究为政策制定者提供了有益的建议，以增强环境支持的创新、绿色金融和严格的环境政策对生态系统的积极影响。
