Dynamic Effects of Economic Growth, Foreign Direct Investment, and Trade Openness on Environmental Quality: Evidence From Asian Economies

IF 0.4 Q4 ECONOMICS
R. Hossain, Chandan Kumar Roy, Rima Akter
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引用次数: 0

Abstract

The main purpose of this article is to investigate the impact of economic growth, foreign direct investment (FDI), and trade openness (TO), and the Asian and global financial crisis on environmental quality based on the environmental Kuznets curve (EKC) hypothesis on panel data of 32 Asian economies over the 1991–2019 period. Our study supports the EKC hypothesis, implying that economic growth increases emissions to a certain point, after which growth helps reduce carbon emissions. By employing several panel data econometric estimation techniques (such as ordinary least squares, fixed effects models, and difference-generalized method of moments estimations), the study also shows robust findings that FDI could reduce carbon emissions in the Asian region by welcoming environmentally friendly technology and know-how into the economy. However, though the study finds that financial crises reduce emissions in Asian countries, the increase of TO in this region leads to an increase in emissions and causes of environmental degradation. Thus, to ensure environmental sustainability, Asian policymakers should formulate lucrative policies to attract FDI, and trade policies should also be revised.
经济增长、外国直接投资和贸易开放对环境质量的动态影响:来自亚洲经济体的证据
本文的主要目的是基于1991年至2019年期间32个亚洲经济体面板数据的环境库兹涅茨曲线假设,研究经济增长、外国直接投资和贸易开放以及亚洲和全球金融危机对环境质量的影响。我们的研究支持EKC假说,这意味着经济增长会在一定程度上增加排放,之后增长有助于减少碳排放。通过采用几种面板数据计量经济学估计技术(如普通最小二乘法、固定效应模型和差分广义矩估计法),该研究还显示了强有力的发现,即外国直接投资可以通过欢迎环保技术和专门知识进入经济来减少亚洲地区的碳排放。然而,尽管研究发现金融危机减少了亚洲国家的排放量,但该地区TO的增加导致了排放量的增加,并导致了环境退化。因此,为了确保环境的可持续性,亚洲决策者应该制定有利可图的政策来吸引外国直接投资,贸易政策也应该修订。
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
CiteScore
0.90
自引率
0.00%
发文量
0
审稿时长
12 weeks
期刊介绍: The journal Croatian Economic Survey is a Diamond Open Access journal defined by the following characteristics: -Peer review: the article goes through the journal''s process of a double-blind peer review. -Public access: both the author and the public have immediate access to the final, published version of the article. -Funding model: both the author and the public pay no fee to the journal. The journal is financially supported by the Ministry of Science and Education of the Republic of Croatia. Croatian Economic Survey is an English-language, peer-reviewed scholarly journal published by the Institute of Economics, Zagreb in Croatia and financed by the Croatian Ministry of Science and Education. The journal aims to serve as a forum for academics and practitioners by publishing high-quality research papers on topics in all areas of economics. Special focus is given to post-socialist Europe. Comparative studies are especially encouraged, since these countries share a similar socio-economic background and comparative studies offer a valuable source of insight for policy formulation as well as a basis for competitive benchmarking. The journal welcomes empirical and policy-oriented papers relevant to a broader international audience. Contributions need not be limited solely to economics; submissions from other related disciplines are encouraged.
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