Does financial openness increase environmental degradation? Fresh evidence from MERCOSUR countries

Environmental Science and Pollution Research International
Matheus KoengkanAntónio Cardoso Marques

Abstract

This article researches the impact of financial openness on environmental degradation in the MERCOSUR countries over the time spanning from 1980 to 2014. The Panel Autoregressive Distributed Lag (PARDL), in the form of Unrestricted Error Correction Model (UECM), was computed with the purpose of decomposing the total effects of variables in their short- and long-run ones. The results of short-run impacts and elasticities of PARDL model showed that the financial openness increases the CO2 emissions both in the short- and in the long-run. Moreover, the results also support that economic growth, consumption of primary energy, and agricultural production are responsible for an increase of emissions in the MERCOSUR countries. Therefore, these empirical findings will help expand the literature that assesses the impact of financial development on the environment. The results also point out to the need of policymakers to change the way the energy mix is financed.

References

Sep 10, 2015·Environmental Science and Pollution Research International·Eyup Dogan, Berna Turkekul
Feb 24, 2016·Environmental Science and Pollution Research International·Kais Saidi, Mounir Ben Mbarek
May 12, 2017·Environmental Science and Pollution Research International·José Alberto FuinhasMatheus Koengkan
Oct 25, 2017·Environmental Science and Pollution Research International·Emrah Koçak, Aykut Şarkgüneşi

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Citations

May 1, 2019·Environmental Science and Pollution Research International·Mohammad Salahuddin, Jeff Gow

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