Financial development and economic growth nexus in SSA economies: The moderating role of telecommunication development

One of the questions that remain unanswered in the literature on determinants of carbon emissions is the moderating effect of “financial development”. This becomes imperative, owing to the connection of carbon emissions to environmental degradation, which is considered to be one of the main challenges to sustainable development. Thus, this study investigated the moderating role of financial development in the determinants of carbon emissions for Turkey during the period of 1960 to 2016. Zivot–Andrew and Lee–Strazicich “unit root tests” were utilized to investigate the stationarity properties of the series. The cointegration among the variables employed was examined by utilizing the ARDL bounds test and Bayer–Hanck cointegration test. In contrast, the long-run causal relationship of the variables with carbon emissions was examined by using fully modified ordinary least square (FMOLS), dynamic OLS (DOLS), and Canonical Cointegrating Regression (CCR). The empirical findings reveal the significance of “economic growth”, “capital formation”, “energy consumption”, “urbanization”, and “financial development” as determinants of environmental degradation in Turkey. The study also found the significant moderating role of “financial development” in the relationship between “economic growth” and carbon emissions, capital formation and carbon emissions, and urbanization and carbon emissions. The environmental–financial related policies were suggested for the policymakers in Turkey to aid the reduction of carbon emission with the view of improving environmental quality.

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Re‐examining the impact of financial development on the economic growth of North Cyprus through the moderating role of the education sector

Journal of Public Affairs ◽

10.1002/pa.2517 ◽

2020 ◽

Author(s):

Nuru Giritli ◽

Demet B. Kalmaz

Keyword(s):

Economic Growth ◽

Financial Development ◽

Education Sector ◽

North Cyprus ◽

The Impact ◽

Moderating Role

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Natural Resources and Economic Growth: The Role of Financial Development Evidence from MENA Region

SSRN Electronic Journal ◽

10.2139/ssrn.3925501 ◽

2021 ◽

Author(s):

Daouia Chebab ◽

Aishatu Ibrahim ◽

Mustafa Raza Rabbani

Keyword(s):

Economic Growth ◽

Natural Resources ◽

Financial Development ◽

Mena Region

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The moderating role of informal economy on financial development induced ekc hypothesis in turkey

Energy & Environment ◽

10.1177/0958305x211070775 ◽

2022 ◽

pp. 0958305X2110707

Author(s):

Baris Memduh Eren ◽

Salih Katircioglu ◽

Korhan K. Gokmenoglu

Keyword(s):

Financial Development ◽

Informal Economy ◽

Structural Breaks ◽

Energy Use ◽

Well Being ◽

Supporting Evidence ◽

Interaction Variables ◽

The Impact ◽

Moderating Role

This study conducts an empirical investigation about the moderating role of the informal economy on Turkey's environmental performance by employing advanced econometric techniques that account numerous structural breaks in series. In this extent, we created three interaction variables by captivating the impact of informal economic activities on CO2 emissions through income, energy use, and financial sector development. Besides, we built a main effect model without the interaction variables to assess the direct effects of our variables on global environmental degradation. The outcomes of the carried analyses produced supporting evidence toward the confirmation of the Environmental Kuznets Curve (EKC) assumption. Obtained findings shown that energy use, financial development and the informal economy in Turkey transmit a deteriorating impact on environmental well-being. Furthermore, the moderating role of the informal economy was found to be statistically significant factor in terms of both economic and environmental efficiency.

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Financial Development and Economic Growth

Handbook of Research on Strategic Developments and Regulatory Practice in Global Finance - Advances in Finance, Accounting, and Economics ◽

10.4018/978-1-4666-7288-8.ch015 ◽

2015 ◽

pp. 233-245

Author(s):

Filiz Eryılmaz ◽

Hasan Bakır ◽

Mehmet Mercan

Keyword(s):

Economic Growth ◽

Data Analysis ◽

New Zealand ◽

Financial Development ◽

Positive Relationship ◽

Panel Data Analysis ◽

Annual Data ◽

The Subject ◽

The Relationship

The relationship between financial development and economic growth has been the subject of considerable debate in development and growth literature. Therefore this chapter provides evidence on the role of financial development in accounting for economic growth in 23 OECD countries (Italy, Japan, Luxemburg, Holland, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland, England, USA, Australia, Austria, Belgium, Canada, Denmark, Finland, Turkey, France, Germany, Greece, Iceland) via panel data analysis using the annual data for the period 1980-2012. The authors find a positive relationship between financial development and economic growth for all countries. Also this result means that financial development leads economic growth in these countries. So the results may help policymakers formulate effective financial sector policies as a tool to promote economic growth.

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