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Результаты исследований: Вклад в журнал › Статья › Рецензирование
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TY - JOUR
T1 - A step towards ecological sustainability: How do productive capacity, green financial policy, and uncertainty matter? Focusing on different income level countries
AU - Chu, Lan Khanh
AU - Doğan, Buhari
AU - Dung, Hoang Phuong
AU - Ghosh, Sudeshna
AU - Alnafrah, Ibrahim
PY - 2023
Y1 - 2023
N2 - Different from previous studies which examine the relationship between either separate parameters or drivers of economic development and ecological sustainability, this study employs the productive capacity index to provide a holistic understanding into the ecological impacts of improving the productive sources of a nation. It also considers the increasingly importance role of green financial policy in lessening the ecological degradation under an uncertain economic and political environment. We adopt advanced panel quantile regression to three samples of 34 high-, 17 upper middle-, and 17 lower middle-income countries from 2000 to 2018. The empirical results show the existence of N-shaped, inverted N-shaped, and U-shaped relationship between productive capacity and ecological footprint in high-, upper middle-, and lower middle-income country groups, respectively. Meanwhile, green financial policy is found to generate beneficial effect on the quality of the ecology in all panels. Uncertainty reduces ecological degradation in high- and upper middle-income countries but intensifies ecological ruin in lower middle-income countries. This complicated relationship between variables of interest warns policymakers to adopt suitable economic and political policies that can deal with both severe ecological degradation and raising uncertainty. Finding the presence of the Environmental Kuznets Curve (EKC) at different levels of development and the presence of the turnaround points within the sample ranges also validates the EKC hypothesis to be a policy benchmarking tool for developing effective environmental policies at the global level. This study outcomes have been utilized to develop Sustainable Development Goals oriented policy framework. © 2023 Elsevier Ltd
AB - Different from previous studies which examine the relationship between either separate parameters or drivers of economic development and ecological sustainability, this study employs the productive capacity index to provide a holistic understanding into the ecological impacts of improving the productive sources of a nation. It also considers the increasingly importance role of green financial policy in lessening the ecological degradation under an uncertain economic and political environment. We adopt advanced panel quantile regression to three samples of 34 high-, 17 upper middle-, and 17 lower middle-income countries from 2000 to 2018. The empirical results show the existence of N-shaped, inverted N-shaped, and U-shaped relationship between productive capacity and ecological footprint in high-, upper middle-, and lower middle-income country groups, respectively. Meanwhile, green financial policy is found to generate beneficial effect on the quality of the ecology in all panels. Uncertainty reduces ecological degradation in high- and upper middle-income countries but intensifies ecological ruin in lower middle-income countries. This complicated relationship between variables of interest warns policymakers to adopt suitable economic and political policies that can deal with both severe ecological degradation and raising uncertainty. Finding the presence of the Environmental Kuznets Curve (EKC) at different levels of development and the presence of the turnaround points within the sample ranges also validates the EKC hypothesis to be a policy benchmarking tool for developing effective environmental policies at the global level. This study outcomes have been utilized to develop Sustainable Development Goals oriented policy framework. © 2023 Elsevier Ltd
UR - http://www.scopus.com/inward/record.url?partnerID=8YFLogxK&scp=85173177071
UR - https://gateway.webofknowledge.com/gateway/Gateway.cgi?GWVersion=2&SrcAuth=tsmetrics&SrcApp=tsm_test&DestApp=WOS_CPL&DestLinkType=FullRecord&KeyUT=001085822500001
U2 - 10.1016/j.jclepro.2023.138846
DO - 10.1016/j.jclepro.2023.138846
M3 - Article
VL - 426
JO - Journal of Cleaner Production
JF - Journal of Cleaner Production
SN - 0959-6526
M1 - 138846
ER -
ID: 46004052