Soufiene Assidi, Alvarado Rafael, Abid Mehdi, Tillaguango Brayan, Shahbaz Muhammad
Department of Accounting and Finance, Kairouan University, Tunisia.
Carrera de Economía and Centro de Investigaciones Sociales y Económicas, Universidad Nacional de Loja, Loja, 110150, Ecuador.
J Environ Manage. 2025 Feb;374:123996. doi: 10.1016/j.jenvman.2024.123996. Epub 2025 Jan 8.
This study analyses the influence of environmental taxes, renewable energy, economic growth, green innovation and financial development on environmental sustainability in G-20 countries from 1990 to 2022. To this end, the Method of Moments Quantile Regression (MMQR) was applied to obtain the reference results, complemented with Fully Modified Ordinary Least Square (FMOLS) and Driscoll-Kraay techniques to perform a comparative analysis. Our results confirm a negative relationship between environmental taxes and sustainability in all quantiles, although this relationship is only significant in the middle and upper quantiles. Furthermore, it is evident that economic growth significantly improves environmental sustainability, supporting the "double dividend" hypothesis, which argues that revenues generated by environmental taxes can be used to finance tax reductions in other areas while contributing to the regulation of environmental degradation. Our findings also show that renewable energy and green innovations play a key role in improving environmental sustainability, underlining the relevance of such variables as fundamental pillars for the fulfilment of the Sustainable Development Goals (SDGs), in particular SDG-7. On the other hand, a positive relationship between financial development and environmental sustainability is identified in the lower quantiles. In contrast, in the upper quantiles, this relationship becomes negative, although not significant. These findings are consistent with the robustness tests performed, which incorporate the use of FMOLS and Driscoll-Kraay standard error estimators.
本研究分析了1990年至2022年期间环境税、可再生能源、经济增长、绿色创新和金融发展对二十国集团（G-20）国家环境可持续性的影响。为此，应用矩量法分位数回归（MMQR）获得参考结果，并辅以完全修正普通最小二乘法（FMOLS）和德里斯柯尔-克雷（Driscoll-Kraay）技术进行比较分析。我们的结果证实，环境税与可持续性在所有分位数上均呈负相关，尽管这种关系仅在中高分位数上显著。此外，很明显经济增长显著改善了环境可持续性，支持了“双重红利”假说，该假说认为环境税产生的收入可用于为其他领域的减税提供资金，同时有助于环境退化的治理。我们的研究结果还表明，可再生能源和绿色创新在改善环境可持续性方面发挥着关键作用，突显了这些变量作为实现可持续发展目标（SDG），特别是可持续发展目标7的基本支柱的相关性。另一方面，在低分位数中发现金融发展与环境可持续性呈正相关。相比之下，在高分位数中，这种关系变为负相关，尽管不显著。这些发现与进行的稳健性检验一致，稳健性检验采用了FMOLS和德里斯柯尔-克雷标准误差估计量。
