Qamar Abbas, Yao HongXing, Muhammad Ramzan, Sumbal Fatima
{"title":"Total factor productivity and environmental quality: measuring the role of financial stability in BRICS countries","authors":"Qamar Abbas, Yao HongXing, Muhammad Ramzan, Sumbal Fatima","doi":"10.1007/s10668-024-05395-7","DOIUrl":null,"url":null,"abstract":"<p>The impact of BRICS countries on global climate mitigation strategies is significant due to their considerable CO2 emissions. The rapid advancement of BRICS nations has adversely affected environmental conditions. This study investigates the relationship between total factor productivity (TFP) and CO2 emissions in BRICS countries from 2000 to 2022, taking financial stability into consideration as a moderating variable. To address cross-sectional dependency, various methodologies were used, such as the cross-sectional augmented distributed lag (CS-ARDL) approach for assessing long- and short-run effects, as well as the Dumitrescu-Hurlin causality test to explore causality relationships. Results reveal a positive relationship between TFP and CO2 emissions, while financial stability exerts a negative influence on CO2 emissions. Additionally, the combined effect of TFP and financial stability demonstrates a capability to alleviate environmental issues and enhance environmental conditions. This implies that financial stability works as a moderator in the nexus between TFP and CO2 emissions, and bolstering financial stability not only diminishes environmental concerns but also aids BRICS countries in reducing the adverse effects of TFP on the environment. Furthermore, the study unveils bidirectional causality relationship between CO2 emissions and all other variables. Recommendations from the study propose that BRICS nations should allocate increased resources toward environmental initiatives and embrace advanced technologies to mitigate CO2 emissions.</p>","PeriodicalId":540,"journal":{"name":"Environment, Development and Sustainability","volume":null,"pages":null},"PeriodicalIF":4.7000,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Environment, Development and Sustainability","FirstCategoryId":"93","ListUrlMain":"https://doi.org/10.1007/s10668-024-05395-7","RegionNum":3,"RegionCategory":"环境科学与生态学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ENVIRONMENTAL SCIENCES","Score":null,"Total":0}
引用次数: 0
Abstract
The impact of BRICS countries on global climate mitigation strategies is significant due to their considerable CO2 emissions. The rapid advancement of BRICS nations has adversely affected environmental conditions. This study investigates the relationship between total factor productivity (TFP) and CO2 emissions in BRICS countries from 2000 to 2022, taking financial stability into consideration as a moderating variable. To address cross-sectional dependency, various methodologies were used, such as the cross-sectional augmented distributed lag (CS-ARDL) approach for assessing long- and short-run effects, as well as the Dumitrescu-Hurlin causality test to explore causality relationships. Results reveal a positive relationship between TFP and CO2 emissions, while financial stability exerts a negative influence on CO2 emissions. Additionally, the combined effect of TFP and financial stability demonstrates a capability to alleviate environmental issues and enhance environmental conditions. This implies that financial stability works as a moderator in the nexus between TFP and CO2 emissions, and bolstering financial stability not only diminishes environmental concerns but also aids BRICS countries in reducing the adverse effects of TFP on the environment. Furthermore, the study unveils bidirectional causality relationship between CO2 emissions and all other variables. Recommendations from the study propose that BRICS nations should allocate increased resources toward environmental initiatives and embrace advanced technologies to mitigate CO2 emissions.
期刊介绍:
Environment, Development and Sustainability is an international and multidisciplinary journal covering all aspects of the environmental impacts of socio-economic development. It is also concerned with the complex interactions which occur between development and environment, and its purpose is to seek ways and means for achieving sustainability in all human activities aimed at such development. The subject matter of the journal includes the following and related issues:
-mutual interactions among society, development and environment, and their implications for sustainable development
-technical, economic, ethical and philosophical aspects of sustainable development
-global sustainability - the obstacles and ways in which they could be overcome
-local and regional sustainability initiatives, their practical implementation, and relevance for use in a wider context
-development and application of indicators of sustainability
-development, verification, implementation and monitoring of policies for sustainable development
-sustainable use of land, water, energy and biological resources in development
-impacts of agriculture and forestry activities on soil and aquatic ecosystems and biodiversity
-effects of energy use and global climate change on development and sustainability
-impacts of population growth and human activities on food and other essential resources for development
-role of national and international agencies, and of international aid and trade arrangements in sustainable development
-social and cultural contexts of sustainable development
-role of education and public awareness in sustainable development
-role of political and economic instruments in sustainable development
-shortcomings of sustainable development and its alternatives.