Dynamic linkages among CO2 emissions, human development, financial development, and globalization: empirical evidence based on PMG long-run panel estimation

This study investigates the impact of the human capital index, globalization, and financial development on carbon dioxide of grouping OECD countries using pool mean group estimation technique from 1990 to 2015. This study also applies the second-generation cross-sectional augmented Dickey-Fuller and...

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Published inEnvironmental science and pollution research international Vol. 26; no. 36; pp. 36248 - 36263
Main Authors Wang, Zhaohua, Rasool, Yasir, Asghar, Muhammad Mansoor, Wang, Bo
Format Journal Article
LanguageEnglish
Published Berlin/Heidelberg Springer Berlin Heidelberg 01.12.2019
Springer Nature B.V
Subjects
Aquatic Pollution
Atmospheric Protection/Air Quality Control/Air Pollution
Carbon
Carbon dioxide
Carbon dioxide emissions
Cross-sections
Earth and Environmental Science
Economic models
Ecotoxicology
Emissions
Environment
Environmental Chemistry
Environmental Health
Environmental science
Globalization
Human capital
Human Development Index
Research Article
Waste Water Technology
Water Management
Water Pollution Control
CO
emissions
Globalization
Human development index
OECD countries
Financial development
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Summary:This study investigates the impact of the human capital index, globalization, and financial development on carbon dioxide of grouping OECD countries using pool mean group estimation technique from 1990 to 2015. This study also applies the second-generation cross-sectional augmented Dickey-Fuller and cross-sectional Im, Pesaran, Shin panel (CIPS) unit root, and the latest (Westerlund 2008 ) cointegration tests for further investigations. The result shows that both the human development index and financial development stimulate environmental improvement by using PMG long-run panel estimation approach. Furthermore, the pairwise Dumitrescu-Hurlin panel causality results prove the two-way causal association between financial development and carbon emissions. The unidirectional causality running from globalization and human development index towards carbon emission is also supported. Based on the aforementioned results, we provide a set of recommendations for policy implication. Graphical abstract
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
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ISSN:0944-1344
1614-7499
DOI:10.1007/s11356-019-06556-2