RETRACTED ARTICLE: Exploring the nonlinear relationship among financial development, human capital and CO2 emissions: a comparative study of South and East Asian emerging economies

• Published in: Environmental science and pollution research international Vol. 30; no. 37; pp. 87274 - 87285
• Main Authors: Javaid, Muhammad Qasim, Ximei, Kong, Irfan, Muhammad, Sibt-e-Ali, Muhammad, Shams, Tanzeela
• Format: Journal Article
• Language: English
• Published: Berlin/Heidelberg Springer Berlin Heidelberg 08.07.2023
• Subjects: Aquatic Pollution; Atmospheric Protection/Air Quality Control/Air Pollution; Earth and Environmental Science; Ecotoxicology; Environment; Environmental Chemistry; Environmental Health; Research Article; Waste Water Technology; Water Management; Water Pollution Control; Energy consumption; Energy efficiency; South and East Asian countries; Human capital; Financial development
• ISSN: 1614-7499; 1614-7499
• DOI: 10.1007/s11356-023-28512-x

Despite worldwide commitments to reduce fossil fuel consumption in favour of alternative energies, several countries still rely on carbon-intensive sources to meet their energy demands. The previous studies show inconsistent results on the association between financial development and CO 2 emissions. As a result, the impact of financial development, human capital, economic growth and energy efficiency on CO 2 emission is evaluated here. Empirical research on a panel of 13 South and East Asian (SEA) nations between 1995 and 2021 using the CS-ARDL. Estimates from the empirical analysis considering energy efficiency, human capital, economic growth and overall energy use yield different findings. Financial development has a negative effect on CO 2 emission, while economic growth positively impacts CO 2 emission. The data also show that improving human capital and energy efficiency has a positive, though statistically insignificant, impact on CO 2 emission. According to the causes and effects analysis, CO 2 emission will be influenced by policies that aim to improve financial development, human capital, and energy efficiency, but not vice versa. Policy considerations that can be implemented in light of these findings and sustainable development goals can be accomplished by promoting financial resources and human capital.