Financial globalization and environmental degradation nexus: Evidence from emerging economies
2020
Abstract This study explores how financial globalization affects environmental degradation in the emerging economies by using ecological footprint as a proxy for environmental degradation. With this aim, panel data models are conducted for the annual data covering the period 1974–2016. Results indicated that there is not an inverted U-shaped relationship between economic growth and environmental degradation. It was also found that financial globalization contributes to the improvement of the environmental quality level of emerging economies.
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