Is India Financing Its Emissions Through External Debt?

<p class="04TextofAbstract">The main aim of this study is to analyze the effect of external debt on different types of emissions in India as carbon dioxide emissions, methane emissions, emissions from liquid fuel consumption, emissions from solid fuel consumption, and emissions from...

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Autores principales:	Emrah Beşe, Haven Swint Friday, Cihan Özden
Formato:	article
Lenguaje:	EN
Publicado:	EconJournals 2021
Materias:	Environmental sciences GE1-350 Energy industries. Energy policy. Fuel trade HD9502-9502.5
Acceso en línea:	https://doaj.org/article/0a6609232da6446a8e9758ade18f41b8
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spelling	oai:doaj.org-article:0a6609232da6446a8e9758ade18f41b82021-11-12T07:27:31ZIs India Financing Its Emissions Through External Debt?2146-4553https://doaj.org/article/0a6609232da6446a8e9758ade18f41b82021-11-01T00:00:00Zhttps://econjournals.com/index.php/ijeep/article/view/11533https://doaj.org/toc/2146-4553<p class="04TextofAbstract">The main aim of this study is to analyze the effect of external debt on different types of emissions in India as carbon dioxide emissions, methane emissions, emissions from liquid fuel consumption, emissions from solid fuel consumption, and emissions from gaseous fuel consumption. India has a fast growing in external debt especially after 2008 world financial crisis. India has a similar situation to China and Turkey which also started to increase external debt significantly after 2008 world crisis. The effect of external debt on emissions only analyzed by Katircioglu and Celebi (2018), Beşe, Friday, and Ozden (2021) and Beşe, Friday and Spencer (2021) for Turkey, China and Brazil respectively. This study aims to fill the gap in the literature by analyzing the effect of external debt on emissions. This study is the first study in the literature for India. The second aim of the study is to investigate whether inverted U relationship exists between economic development, and carbon oxide emissions, methane emissions, methane emissions, emissions from liquid fuel consumption, emissions from solid fuel consumption, and emissions from gaseous fuel consumption. This study confirmed inverted-U relationship between methane gas emissions and economic development, and emissions from gaseous fuel consumption and economic development. The positive and significant effect of external debt on carbon dioxide emissions, methane emissions, emissions from gaseous fuel consumption and emissions from solid fuel consumption is confirmed by this study. The analysis is important since after 2008 crisis many countries such as China and Turkey besides India started to borrow external debt heavily to create government investments to boost employment market which collapsed due to global economic crisis. This study carries importance since global greenhouse gas emissions may be financed through external debt in India. Since sustainability is the main issue in current world and reduction of emissions is one of the highest priorities of humanity, necessary measures should be taken into account to reduce financing of emissions through external debt in India.</p><p class="04bKeyword"><strong>Keywords:</strong> external debt, India, ARDL model, emissions, economic growth<em></em></p><p><strong>JEL Classifications: </strong>Q01, Q56, C01</p><p>DOI: <a href="https://doi.org/10.32479/ijeep.11533">https://doi.org/10.32479/ijeep.11533</a></p>Emrah BeşeHaven Swint FridayCihan ÖzdenEconJournalsarticleEnvironmental sciencesGE1-350Energy industries. Energy policy. Fuel tradeHD9502-9502.5ENInternational Journal of Energy Economics and Policy, Vol 11, Iss 6, Pp 170-179 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	Environmental sciences GE1-350 Energy industries. Energy policy. Fuel trade HD9502-9502.5
spellingShingle	Environmental sciences GE1-350 Energy industries. Energy policy. Fuel trade HD9502-9502.5 Emrah Beşe Haven Swint Friday Cihan Özden Is India Financing Its Emissions Through External Debt?
description	<p class="04TextofAbstract">The main aim of this study is to analyze the effect of external debt on different types of emissions in India as carbon dioxide emissions, methane emissions, emissions from liquid fuel consumption, emissions from solid fuel consumption, and emissions from gaseous fuel consumption. India has a fast growing in external debt especially after 2008 world financial crisis. India has a similar situation to China and Turkey which also started to increase external debt significantly after 2008 world crisis. The effect of external debt on emissions only analyzed by Katircioglu and Celebi (2018), Beşe, Friday, and Ozden (2021) and Beşe, Friday and Spencer (2021) for Turkey, China and Brazil respectively. This study aims to fill the gap in the literature by analyzing the effect of external debt on emissions. This study is the first study in the literature for India. The second aim of the study is to investigate whether inverted U relationship exists between economic development, and carbon oxide emissions, methane emissions, methane emissions, emissions from liquid fuel consumption, emissions from solid fuel consumption, and emissions from gaseous fuel consumption. This study confirmed inverted-U relationship between methane gas emissions and economic development, and emissions from gaseous fuel consumption and economic development. The positive and significant effect of external debt on carbon dioxide emissions, methane emissions, emissions from gaseous fuel consumption and emissions from solid fuel consumption is confirmed by this study. The analysis is important since after 2008 crisis many countries such as China and Turkey besides India started to borrow external debt heavily to create government investments to boost employment market which collapsed due to global economic crisis. This study carries importance since global greenhouse gas emissions may be financed through external debt in India. Since sustainability is the main issue in current world and reduction of emissions is one of the highest priorities of humanity, necessary measures should be taken into account to reduce financing of emissions through external debt in India.</p><p class="04bKeyword"><strong>Keywords:</strong> external debt, India, ARDL model, emissions, economic growth<em></em></p><p><strong>JEL Classifications: </strong>Q01, Q56, C01</p><p>DOI: <a href="https://doi.org/10.32479/ijeep.11533">https://doi.org/10.32479/ijeep.11533</a></p>
format	article
author	Emrah Beşe Haven Swint Friday Cihan Özden
author_facet	Emrah Beşe Haven Swint Friday Cihan Özden
author_sort	Emrah Beşe
title	Is India Financing Its Emissions Through External Debt?
title_short	Is India Financing Its Emissions Through External Debt?
title_full	Is India Financing Its Emissions Through External Debt?
title_fullStr	Is India Financing Its Emissions Through External Debt?
title_full_unstemmed	Is India Financing Its Emissions Through External Debt?
title_sort	is india financing its emissions through external debt?
publisher	EconJournals
publishDate	2021
url	https://doaj.org/article/0a6609232da6446a8e9758ade18f41b8
work_keys_str_mv	AT emrahbese isindiafinancingitsemissionsthroughexternaldebt AT havenswintfriday isindiafinancingitsemissionsthroughexternaldebt AT cihanozden isindiafinancingitsemissionsthroughexternaldebt
_version_	1718431091558187008

Is India Financing Its Emissions Through External Debt?

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