摘要：The prime objective of the current study is to explore the nexus among financial development, market
freedom, political stability, economic growth and CO2
emissions in ASEAN countries. The present
study has attempted to examine the asymmetric association among financial development, CO2
emissions, and economic growth. The data for the variables are obtained from the World Bank. The
CO2
emission is measured in kilotons. The Johansen cointegration technique has been used for analyzing
the long-term association. The results of the political freedom model indicate that in countries
where there will be political stability, their CO2
emission will be low. A number of research papers have
investigated the relationship between the environment and political freedom. A positive relationship
has been found by most of the studies; however, these studies have not taken CO2
emissions into account.
The probability of making agreements at international conferences is directly linked with the
political freedom to lower the level of global pollutants. This study proves that the implementation
of such agreements has started recently and a significant impact of political freedom on emissions
cannot yet be finalized with the limited data available. Financial development appears to have a significant
relationship with carbon emission. This study will be helpful for policymakers and researchers
in understanding the issues related to financial development, market freedom, political stability, and
economic growth and CO2
emissions in ASEAN countries.
关键词：Financial development; Market freedom; Political stability; CO2
emission; ASEAN countries
