| Title | Globalization, financial development and economic growth: Perils on the environmental sustainability of an emerging economy |
|---|---|
| ID_Doc | 33100 |
| Authors | Sethi, P; Chakrabarti, D; Bhattacharjee, S |
| Title | Globalization, financial development and economic growth: Perils on the environmental sustainability of an emerging economy |
| Year | 2020 |
| Published | Journal Of Policy Modeling, 42.0, 3 |
| Abstract | The study examines the effects of globalization, financial development, economic growth, and energy consumption on environmental sustainability in India over the period 1980-2015. The novelty of the study is the assessment of environmental sustainability in a single framework encompassing globalization, financial development, and growth effects. Findings reveal that an increased level of globalization and financial development while improving economic performance are inimical to the sustainability of the environment. In the short-run, globalization, economic growth, and increased energy consumption are contributing directly to environmental degradation, while banking sector development is impacting environmental sustainability adversely through the economic growth channel. Given the severity of the findings amidst India's tryst with economic growth, proactive policies are warranted to encourage adaptation of greener and cleaner technologies in environmentally sustainable areas. This necessitates improved institutional quality encompassing stringent environmental standards, legal systems, property rights, corruption, financial information quality, etc., alongside the provision of incentives and subsidies to manufacturing firms undertaking technological innovations and complying with the environmental standards. (C) 2020 The Society for Policy Modeling. Published by Elsevier Inc. All rights reserved. |
Similar Articles
| ID | Score | Article |
|---|---|---|
31131
|
Manigandan, P; Alam, MS; Murshed, M; Ozturk, I; Altuntas, S; Alam, MM Promoting sustainable economic growth through natural resources management, green innovations, environmental policy deployment, and financial development: Fresh evidence from India(2024) | |
| 33163
|
Wang, L; Ye, FY; Lin, JL; Bibi, N Exploring the impact of climate technology, financial inclusion and renewable energy on ecological footprint: Evidence from top polluted economies(2024)Plos One, 19.0, 4 | |
| 32464
|
Sibt-e-Ali, M; Xia, XQ; Javed, K; Javaid, MQ; Vasa, L Greening the future: assessing the influence of technological innovation, energy transition and financial globalization on ecological footprint in selected emerging countries(2024) | |
| 31645
|
Tu, YT Drivers of Environmental Performance in Asian economies: Do natural resources, green innovation and Fintech really matter?(2024) | |
| 69618
|
Jain, M; Nagpal, A Relationship Between Environmental Sustainability and Human Development Index: A Case of Selected South Asian Nations(2019)Vision-The Journal Of Business Perspective, 23.0, 2 | |
| 8329
|
Zheng, Y; Tarczynski, W; Jamróz, P; Raza, SA; Tiwari, S Impacts of mineral resources, economic growth and energy consumption on environmental sustainability: Novel findings from global south region(2024) | |
| 30636
|
Sahoo, M; Bhujabal, P; Gupta, M; Islam, MK Empowering BRICS economies: The crucial role of green finance, information and communication technology and innovation in sustainable development(2024) | |
| 31295
|
Huang, JJ Resources, innovation, globalization, and green growth: The BRICS financial development strategy(2024)Geoscience Frontiers, 15, 2 | |
| 30221
|
Zulfiqar, M; Fatima, A; Ullah, MR; Huo, WD; Pervaiz, A; Ghafoor, S The triple threat: How green technology innovation, green energy production, and financial development impact environmental quality?(2023) | |
| 31106
|
Saqib, N; Usman, M; Ozturk, I; Sharif, A Harnessing the synergistic impacts of environmental innovations, financial development, green growth, and ecological footprint through the lens of SDGs policies for countries exhibiting high ecological footprints(2024) |