期刊名称：Journal of Asian Finance, Economics and Business
印刷版ISSN：2288-4637
电子版ISSN：2288-4645
出版年度：2021
卷号：8
期号：4
页码：93-104
DOI：10.13106/jafeb.2021.vol8.no4.0093
语种：English
出版社：Korean Distribution Science Association
摘要：In recent years, there has been a substantial theoretical and empirical study on the role that financial market development has significantly played in promoting economic growth and development in the world. The development of an economy requires the financial industry to be developed. In the context of rapid economic development, global warming has become a serious problem with issues such as rising average temperatures, climate change, rising sea level, and increasing carbon dioxide emissions. This study aims to examine the influence of economic growth, financial development, transportation capacity, and environmental degradation. Using time-series data from 1986 to 2019 and environmental degradation being measured by CO2 emissions, the study employs a quantity of ample unit root tests, the structural break unit root tests, Autoregressive Distributed Lag (ARDL), and cointegration bounds test. The results show that there is a significant long-term cointegration among study variables. Empirical findings also indicate that an increase in per capita GDP and financial development worsens environmental quality whereas transportation capacity and foreign investment can improve environmental quality.
