Environmental quality and financial flows in emerging economies: Evidence from BRICS countries

IF 8 2区环境科学与生态学 Q1 ENVIRONMENTAL SCIENCES

Journal of Environmental Management Pub Date : 2025-05-23 DOI:10.1016/j.jenvman.2025.125854

Noor Hashim Khan , Weijun He , An Min

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引用次数: 0

Abstract

This study investigates the relationship between environmental sustainability, financial flows, and green finance in BRICS nations over the period 1990–2022. Motivated by the urgent need to balance economic growth with ecological preservation in emerging economies, we employ advanced panel data techniques, including panel ARDL, cross-sectional dependence tests, CIPS unit root tests, and Westerlund cointegration analysis. Using comprehensive indicators such as the ecological footprint and its sub-components, our findings confirm the Environmental Kuznets Curve hypothesis, revealing a non-linear relationship between economic growth and environmental quality. Specifically, while GDP growth initially increases environmental pressures (coefficient: 24.028), higher income levels eventually lead to improvements (coefficient: −0.913). Green finance consistently mitigates environmental degradation (coefficients: −0.054 to −0.618), underscoring its critical role in sustainable development. Remittances exhibit mixed effects, positively influencing the overall ecological footprint (0.957) but negatively affecting built-up land (−0.426). These results provide actionable insights for policymakers, highlighting the importance of integrating green finance initiatives to moderate the environmental impacts of economic growth in emerging economies.

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新兴经济体的环境质量和资金流动：来自金砖国家的证据

本研究调查了金砖国家1990-2022年期间环境可持续性、资金流动和绿色金融之间的关系。基于新兴经济体平衡经济增长与生态保护的迫切需要，我们采用了先进的面板数据技术，包括面板ARDL、横截面相关性检验、CIPS单位根检验和Westerlund协整分析。利用生态足迹及其子成分等综合指标，我们的研究结果证实了环境库兹涅茨曲线假设，揭示了经济增长与环境质量之间的非线性关系。具体来说，虽然GDP增长最初会增加环境压力（系数：24.028），但更高的收入水平最终会导致环境改善（系数：−0.913）。绿色金融在缓解环境恶化方面表现出一致性（系数范围为- 0.054 ~ - 0.618），凸显了其在可持续发展中的关键作用。汇款表现出混合效应，对总体生态足迹产生积极影响（0.957），但对建设用地产生消极影响（- 0.426）。这些结果为政策制定者提供了可操作的见解，强调了整合绿色金融举措以缓和新兴经济体经济增长对环境影响的重要性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Environmental Management 环境科学-环境科学

CiteScore

13.70

自引率

5.70%

发文量

2477

审稿时长

84 days

期刊介绍： The Journal of Environmental Management is a journal for the publication of peer reviewed, original research for all aspects of management and the managed use of the environment, both natural and man-made.Critical review articles are also welcome; submission of these is strongly encouraged.