Empirical Study on CO<sub>2</sub> Emissions, Financial Development and Economic Growth of the BRICS Countries

This paper empirically examined relevant data on BRICS CO<sub>2</sub> emissions, financial development, and economic growth in the past 40 years, and analyzed the correlation between them. Using the cointegration test, it found that there is a clear correlation between the variables in C...

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Autores principales:	Fangjhy Li, Yang-Che Wu, Mei-Chih Wang, Wing-Keung Wong, Zhijie Xing
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	BRICS countries financial development CO<sub>2</sub> emissions economic growth quantile on quantile regression Technology T
Acceso en línea:	https://doaj.org/article/5a0dbcf33c6148bcabb5d372b5319ce1
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spelling	oai:doaj.org-article:5a0dbcf33c6148bcabb5d372b5319ce12021-11-11T16:03:51ZEmpirical Study on CO<sub>2</sub> Emissions, Financial Development and Economic Growth of the BRICS Countries10.3390/en142173411996-1073https://doaj.org/article/5a0dbcf33c6148bcabb5d372b5319ce12021-11-01T00:00:00Zhttps://www.mdpi.com/1996-1073/14/21/7341https://doaj.org/toc/1996-1073This paper empirically examined relevant data on BRICS CO<sub>2</sub> emissions, financial development, and economic growth in the past 40 years, and analyzed the correlation between them. Using the cointegration test, it found that there is a clear correlation between the variables in China and South Africa, which show that there is a two-way relationship between CO<sub>2</sub> emissions, financial development, and economic growth in both countries. Using the quantile regression method in the analysis, the results demonstrated that at the 0.6th quartile, South Africa’s financial development had a negative impact on CO<sub>2</sub> emissions, while Brazil’s CO<sub>2</sub> emissions had a negative impact on financial development. Economic growth was subsequently added as a control variable, and the quantile-on-quantile regression method was used to test the correlation between the financial development of the BRICS countries and their CO<sub>2</sub> emissions. Finally, based on empirical conclusions, this paper proposed that BRICS countries should focus on sustainable economic development; when government departments formulate emission-reduction policies, they must reasonably consider the relationship between financial development and emission-reduction policies.Fangjhy LiYang-Che WuMei-Chih WangWing-Keung WongZhijie XingMDPI AGarticleBRICS countriesfinancial developmentCO<sub>2</sub> emissionseconomic growthquantile on quantile regressionTechnologyTENEnergies, Vol 14, Iss 7341, p 7341 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	BRICS countries financial development CO<sub>2</sub> emissions economic growth quantile on quantile regression Technology T
spellingShingle	BRICS countries financial development CO<sub>2</sub> emissions economic growth quantile on quantile regression Technology T Fangjhy Li Yang-Che Wu Mei-Chih Wang Wing-Keung Wong Zhijie Xing Empirical Study on CO<sub>2</sub> Emissions, Financial Development and Economic Growth of the BRICS Countries
description	This paper empirically examined relevant data on BRICS CO<sub>2</sub> emissions, financial development, and economic growth in the past 40 years, and analyzed the correlation between them. Using the cointegration test, it found that there is a clear correlation between the variables in China and South Africa, which show that there is a two-way relationship between CO<sub>2</sub> emissions, financial development, and economic growth in both countries. Using the quantile regression method in the analysis, the results demonstrated that at the 0.6th quartile, South Africa’s financial development had a negative impact on CO<sub>2</sub> emissions, while Brazil’s CO<sub>2</sub> emissions had a negative impact on financial development. Economic growth was subsequently added as a control variable, and the quantile-on-quantile regression method was used to test the correlation between the financial development of the BRICS countries and their CO<sub>2</sub> emissions. Finally, based on empirical conclusions, this paper proposed that BRICS countries should focus on sustainable economic development; when government departments formulate emission-reduction policies, they must reasonably consider the relationship between financial development and emission-reduction policies.
format	article
author	Fangjhy Li Yang-Che Wu Mei-Chih Wang Wing-Keung Wong Zhijie Xing
author_facet	Fangjhy Li Yang-Che Wu Mei-Chih Wang Wing-Keung Wong Zhijie Xing
author_sort	Fangjhy Li
title	Empirical Study on CO<sub>2</sub> Emissions, Financial Development and Economic Growth of the BRICS Countries
title_short	Empirical Study on CO<sub>2</sub> Emissions, Financial Development and Economic Growth of the BRICS Countries
title_full	Empirical Study on CO<sub>2</sub> Emissions, Financial Development and Economic Growth of the BRICS Countries
title_fullStr	Empirical Study on CO<sub>2</sub> Emissions, Financial Development and Economic Growth of the BRICS Countries
title_full_unstemmed	Empirical Study on CO<sub>2</sub> Emissions, Financial Development and Economic Growth of the BRICS Countries
title_sort	empirical study on co<sub>2</sub> emissions, financial development and economic growth of the brics countries
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/5a0dbcf33c6148bcabb5d372b5319ce1
work_keys_str_mv	AT fangjhyli empiricalstudyoncosub2subemissionsfinancialdevelopmentandeconomicgrowthofthebricscountries AT yangchewu empiricalstudyoncosub2subemissionsfinancialdevelopmentandeconomicgrowthofthebricscountries AT meichihwang empiricalstudyoncosub2subemissionsfinancialdevelopmentandeconomicgrowthofthebricscountries AT wingkeungwong empiricalstudyoncosub2subemissionsfinancialdevelopmentandeconomicgrowthofthebricscountries AT zhijiexing empiricalstudyoncosub2subemissionsfinancialdevelopmentandeconomicgrowthofthebricscountries
_version_	1718432414692278272

Empirical Study on CO<sub>2</sub> Emissions, Financial Development and Economic Growth of the BRICS Countries

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