Economic Complexity, Economic Growth, and CO2 Emissions: A Panel Data Analysis

Each country designs its own scheme to achieve green financing and, in general, credit is considered to be a fundamental source of greening financial systems. The novelty of this study resides in that we examined green financing initiatives in USA, Canada and Brazil by focusing on major components of the financial systems before, during and after the 2008 world financial crisis. By means of panel data analysis conducted on observations ranging across the period 1970–2018, we investigated variables such as domestic credit from banks, domestic credit from the financial sector, GDP, N2O emissions, CO2 emissions and the value added from agriculture, forest and fishing activities. According to our findings, domestic credit from banks was insufficient to achieve green financing. Namely, in order to increase economic growth while reducing global warming and climate change, the financial sector should assume a bigger role in funding green investments. Moreover, our results showed that domestic credit from the financial sector contributed to green financing, while CO2 emissions remained a challenge in capping global warming at the 1.5 °C level. Our empirical study supports the idea that economic growth together with policies targeting climate change and global warming can contribute to green financing. Over and above that, governments should strive to design sustainable fiscal and monetary policies that promote green financing.

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CO2 emissions, economic growth, energy consumption, trade and urbanization in new EU member and candidate countries: A panel data analysis

Economic Modelling ◽

10.1016/j.econmod.2014.10.022 ◽

2015 ◽

Vol 44 ◽

pp. 97-103 ◽

Cited By ~ 434

Author(s):

Adnan Kasman ◽

Yavuz Selman Duman

Keyword(s):

Economic Growth ◽

Energy Consumption ◽

Data Analysis ◽

Panel Data ◽

Co2 Emissions ◽

Panel Data Analysis ◽

Growth Energy

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A Panel Data Analysis on Sustainable Economic Growth in India, Brazil, and Romania

Journal of Risk and Financial Management ◽

10.3390/jrfm13080170 ◽

2020 ◽

Vol 13 (8) ◽

pp. 170 ◽

Cited By ~ 6

Author(s):

Batrancea Ioan ◽

Rathnaswamy Malar Kumaran ◽

Batrancea Larissa ◽

Nichita Anca ◽

Gaban Lucian ◽

...

Keyword(s):

Economic Growth ◽

Data Analysis ◽

Panel Data ◽

Financial Crisis ◽

Co2 Emissions ◽

Global Financial Crisis ◽

Panel Data Analysis ◽

Bank Credit ◽

The Global Financial Crisis ◽

Sustainable Economic Growth

The study investigated the impact of factors such as non-performing loans, CO2 emissions, bank credit, and inflation on the variable sustainable economic growth for India, Brazil, and Romania during the period 2005–2017, through a panel data analysis. Specifically, we investigated the timeline before, during, and after economic turmoil, with a special focus on the global financial crisis. Our empirical results are valuable for both developing and developed nations. As a first result, we showed that CO2 emissions increased the level of economic growth, but in this context, authorities should design suitable policies to limit its impact on the overall society. In addition, a single supervision mechanism increased the level of sustainable economic growth. Last but not the least, the period during and after the global financial crisis, sustainable economic growth decreased under the influence of bank credit, inflation, and non-performing loans. Within this framework, public authorities are called to design efficient economic, fiscal, and monetary policies.

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