scholarly journals Innovative Carbon Mitigation Techniques to Achieve Environmental Sustainability Agenda: Evidence from a Panel of 21 Selected R&D Economies

Atmosphere ◽  
2021 ◽  
Vol 12 (11) ◽  
pp. 1514
Author(s):  
Muhammad Khalid Anser ◽  
Shujaat Abbas ◽  
Abdelmohsen A. Nassani ◽  
Mohamed Haffar ◽  
Khalid Zaman ◽  
...  
Keyword(s):  
Financial Development ◽  
Carbon Emissions ◽  
Environmental Sustainability ◽  
Energy Demand ◽  
Composite Index ◽  
Carbon Pricing ◽  
Development Index ◽  
Carbon Reduction ◽  
Knowledge Innovation ◽  
Financial Development Index

Technological innovation in the energy sector is highly needed to reduce carbon emission costs, which requires knowledge spillovers, financial development, and carbon pricing to achieve a green developmental agenda. The current study examines the role of knowledge innovations in achieving the environmental sustainability agenda under financial development and carbon pricing in a panel of 21 selected R&D economies from 1990 to 2018. The study constructed a composite index of financial development and knowledge innovation in the carbon pricing model. The results show that carbon pricing, a financial development index, innovation index, and energy demand fail to achieve stringent carbon reduction targets. A U-shaped relationship is found between carbon emissions and per capita income in the absence of a financial development index and trade openness. At the same time, this study shows the monotonic decreasing function in the presence of all factors. The causality estimates confirmed the feedback relationship between carbon pricing and carbon emissions, carbon pricing and the financial index, and the financial development index and innovation index. Further, the causality results established the carbon-led financial development and innovation, growth-led carbon emissions, and trade-led emissions, pricing, and financial development in a panel of selected countries. The estimates of the innovation accounting matrix (forecasting mechanism) confirmed the viability of the environmental sustainability agenda through carbon pricing, knowledge innovation, and financial development over a time horizon. However, these factors are not achievable carbon reduction targets in a given period. The study concludes that carbon pricing may provide a basis for achieving an environmental sustainability agenda through market-based innovations, green financing options, and improved energy resources. This would ultimately help desensitize carbon emissions across countries.

Environmental sustainability and the carbon emissions of pharmaceuticals

2021 ◽  
pp. medethics-2020-106842
Author(s):  
Cristina Richie
Keyword(s):  
Carbon Emissions ◽  
Environmental Sustainability ◽  
Hospital Care ◽  
Healthcare Industry ◽  
Clinical Services ◽  
Prescribing Practices ◽  
Preventive Healthcare ◽  
Carbon Reduction ◽  
Pharmaceutical Waste ◽  
The Us

The US healthcare industry emits an estimated 479 million tonnes of carbon dioxide each year; nearly 8% of the country’s total emissions. When assessed by sector, hospital care, clinical services, medical structures, and pharmaceuticals are the top emitters. For 15 years, research has been dedicated to the medical structures and equipment that contribute to carbon emissions. More recently, hospital care and clinical services have been examined. However, the carbon of pharmaceuticals is understudied. This article will focus on the carbon emissions of pharmaceuticals since they are consistently calculated to be among the top contributors to healthcare carbon and assess the factors that contribute to pharmaceutical carbon emissions. Specifically, overprescription, pharmaceutical waste, antibiotic resistance, routine prescriptions, non-adherence, drug dependency, lifestyle prescriptions, and drugs given due to a lack of preventive healthcare will be identified. Prescribing practices have environmental ramifications. Carbon reduction, when focused on pharmaceuticals, can lead to cleaner, more sustainable healthcare.

Trade Openness, Financial Development Index and Economic Growth

2014 ◽  
Vol 6 (4) ◽  
pp. 362-375 ◽  
Author(s):  
Dogga Satyanarayana Murthy ◽  
Suresh Kumar Patra ◽  
Amaresh Samantaraya
Keyword(s):  
Economic Growth ◽  
Financial Development ◽  
Trade Openness ◽  
Output Growth ◽  
Domestic Demand ◽  
Policy Implications ◽  
Content Type ◽  
Development Index ◽  
Long Run ◽  
Financial Development Index

Purpose – The purpose of this article is to examine the inter-relationship and direction of causality among three macroeconomic variables such as trade liberalization, financial development and economic growth. Design/methodology/approach – The empirical analysis is based on the principal component analysis as method to construct financial development index (FDI), augmented Dickey–Fuller and Phillips–Perron tests as the unit root test, Johansen’s co-integration test and VECM for direction of causality in the long run among TOP, FDI and economic growth. Findings – The empirical results confirmed that there exists a long-run association among trade openness, financial development and economic growth. This study has also found that there is bidirectional causality between financial development and growth. However, the causality runs from growth to finance is stronger than that from finance to growth. This study also observed unidirectional causality that runs from financial development and economic growth to trade openness. Research limitations/implications – The policy implications that could be drawn from the present study is that, initiation of financial reforms to improve the size of financial system would lead to higher economic growth. Another key implication from this study is that because trade openness has no effect on both domestic financial sector development and output growth, it would be better to deploy the resources into creating a sustained domestic demand rather than concentrating more on the external front in general and trade openness in particular. Originality/value – The study constructs a summary IFD for India by taking into account four broad financial development indicators for the period 1971-2012. The present paper also suggests that it would be better to deploy the resources to create a sustained domestic demand rather than concentrating more on the external front in general and trade openness in particular.

scholarly journals The impact of ICT on financial development: Empirical evidence from the Gulf Cooperation Council countries

2019 ◽  
Vol 11 ◽  
pp. 184797901987067 ◽  
Author(s):  
Faris Alshubiri ◽  
Syed Ahsan Jamil ◽  
Mohamed Elheddad
Keyword(s):  
Money Supply ◽  
Financial Development ◽  
Gulf Cooperation Council ◽  
The Internet ◽  
Development Index ◽  
Gcc Countries ◽  
Internet Users ◽  
Domestic Credit ◽  
The Impact ◽  
Financial Development Index

The globalization revolution has led to many countries considering advancing technology, which has led to electronic finance becoming an important aspect in all economic and financial sectors. This study aims to investigate the impact of information and communication technology (ICT) on the financial development index of six Gulf Cooperation Council (GCC) countries from the period 2000 to 2016. The results are reported in terms of two main ICT variables: fixed broadband and Internet users as a proxy of ICT and domestic credit to private sector as a percentage of gross domestic product (GDP) and broad money supply/GDP as two proxies of the financial development index. This methodology used fixed effects (FEs) estimations, and the results show that an increase in fixed broadband has a statistically significant and positive effect on both proxies of financial development. In terms of domestic credit as a percentage of the GDP proxy, the positive effects of ICT (broadband) are greater than the one from Internet users. A 1% increase in fixed broadband leads to approximately 2% increase in financial development, but the Internet user variable resulted in about a 0.09% increase. The other money supply proxy increased by 0.40% when ICT increased by 1%. Additionally, money supply increased by 0.11% when the Internet user ratio increased by 1% .To control for the endogeneity problem, the study used a generalized method of moments estimator, and the results confirm the previous results of the FE. Moreover, the negative impact of economic growth and natural resources was found to be valid and significant, while urbanization and trade openness were found to significantly and positively affect both financial development proxies. The main conclusion of the study is that GCC countries should take action in building an effective joint information system to help construct efficient economic sectors.

scholarly journals Financial Development, Financial Inclusion and Primary Energy Use: Evidence from the European Union Transition Economies

Energies ◽  
2021 ◽  
Vol 14 (12) ◽  
pp. 3638
Author(s):  
Yilmaz Bayar ◽  
Mehmet Hilmi Ozkaya ◽  
Laura Herta ◽  
Marius Dan Gavriletea
Keyword(s):  
European Union ◽  
Financial Development ◽  
Financial Institutions ◽  
Energy Use ◽  
Panel Cointegration ◽  
Primary Energy ◽  
Development Index ◽  
Development Indicators ◽  
Private Credit ◽  
Financial Development Index

The main objective of the research is to analyze the impact of financial sector development indicators and financial institutions access on primary energy use based on a sample of European Union transition members over 20 years period (1996–2017) through panel cointegration and causality tests that allow for cross-section dependence. The causality analysis revealed that the direction of the causality among financial development indicators, financial institutions access, and primary energy use varied among the countries. On the other side, panel cointegration coefficients disclosed that the financial development index positively affected the primary energy use, but private credit did not have a significant effect on the primary energy use. Furthermore, financial institutions’ access had a significant negative impact on primary energy use. However, country-level cointegration coefficients indicated that the financial development index positively affected the primary energy use in Bulgaria, Croatia, Czechia, Hungary, and Slovenia, and private credit also had a positive impact on primary energy use in Bulgaria, Czechia, Estonia, Hungary, Lithuania, Poland, and Slovakia, but the effect of financial development index on primary energy use was found to be very higher than that of private credit. Moreover, financial institutions’ access negatively affected the primary energy use in Croatia, Estonia, Hungary, Poland, and Romania.

scholarly journals Pakistan's Growth Empirics and Foreign Direct Investment: An Assessment of the Role of Domestic Financial Sector

2021 ◽  
Vol 7 (2) ◽  
pp. 357-367
Author(s):  
Noreen Safdar ◽  
Ruqia Shaheen ◽  
Fouzia Yasmin ◽  
Naureen Afzal
Keyword(s):  
Economic Growth ◽  
Foreign Direct Investment ◽  
Financial Development ◽  
Direct Investment ◽  
Time Series Data ◽  
Financial Sector ◽  
Series Data ◽  
Development Index ◽  
Financial Development Index

Purpose: This reseach endeavours to investigate the role of fiancial sector in determining the foreign direct inflows in pakistan. Design/Methodology/Approach: Autoregressive Distributed Lag Model is applied to conclude the nature of linear association among the variables, in this study, we have used time series data over the period 1980-2019 of Pakistan. A financial development index has been created to illustrate the financial development by using Principle Component Analysis (PCA). Robustness of the relation among variables is also checked, and incorporated this in the empirical model. Findings: The findings described very interesting implications, by exhibiting a positive association among FDI and economic growth in the presence of financial sector indicators. These conclusions hold notwithstanding in the presence or absence of Financial development Index. Therefore, the presence of strong financial sector is necessary to attract FDI and to smoothen the economic growth process.Implications/Originality/Value: The role of fiancial sector is indespensible in determining the economic activity. In addition to this, research at hand explore the inclusive nature of the relationships among foreign direct investment (FDI), Financial sector, and economic growth. It exhibits a reflection of the various sources of economic growth.

How to Measure the Level of Financial Development

2015 ◽  
pp. 260-286 ◽  
Author(s):  
Sibel Bali Eryigit ◽  
Ercan Dulgeroglu
Keyword(s):  
Principal Components Analysis ◽  
Financial Development ◽  
Principal Components ◽  
Composite Measure ◽  
Development Index ◽  
Components Analysis ◽  
Definition Of ◽  
The Right ◽  
Financial Development Index ◽  
Access Efficiency

The aim of this chapter is twofold: first, to present in the most proper manner the definition of financial development, considering that bad definition leads to bad measurement and taking into account the discussions in the literature. Second, it aims to discuss how to measure the level of financial development. In line with these objectives, financial development index values for 1998-2011 are calculated by principal components analysis for 77 countries considering the suitable indicator in terms of the right definition of financial development. The calculated indices helps to obtain a composite measure that evaluates the size, access, efficiency and stability dimensions of financial development together.

scholarly journals Does the combining effects of energy and consideration of financial development lead to environmental burden: social perspective of energy finance?

2021 ◽  
Author(s):  
Fengsheng Chien ◽  
Ka Yin Chau ◽  
Sri Utami Ady ◽  
YunQian Zhang ◽  
Quyen Ha Tran ◽  
...  
Keyword(s):  
Financial Development ◽  
Environmental Sustainability ◽  
Policy Design ◽  
Social Performance ◽  
Composite Index ◽  
Data Envelopment ◽  
Multiple Indicators ◽  
Sustainable Policy ◽  
The Usa ◽  
The Uk

AbstractIn light of the rapidly growing industrialization in BRICS and G7 regions, thorough energy, financials, and environmental analyses are essential for sustainable financial development in these countries. In this context, this work analyzes the relationship between energy, financial, and environmental sustainability and the regions’ social performance. Data from 2000 to 2017 is analyzed through a data envelopment analysis (DEA) like a composite index. Results show China and Brazil’s better performance in the region, with a sustainability score of 0.96, India was the third, followed by South Africa and Russia. Japan, the UK, and the USA were the most energy-efficient countries for five consecutive years. A 0.18%, 0.27%, 0.22%, 0.09%, 0.31%, and 0.32% reduction in carbon emission is observed with a 1% increase in R&D costs by Canada, France, Germany, Italy, Japan, and the USA, respectively. This work contributes to the existing literature regarding an eco-friendly sustainable policy design for the G7 countries based on multiple indicators.

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