"Could Financial Deepening Be the Solution to the Carbon Emission Problem? Empirical Evidence from CEE Countries"

IF 1 4区管理学 Q3 PUBLIC ADMINISTRATION

Transylvanian Review of Administrative Sciences Pub Date : 2023-06-28 DOI:10.24193/tras.69e.1

Hale Akbulut

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引用次数: 0

Abstract

"Financial deepening has increased in recent de cades in CEE countries that have transitioned from a centrally planned economy to a market economy. However, its impact on carbon emissions is con troversial. Although the determinants of emissions have been frequently examined in line with the EU’s goal of net zero carbon emissions, the empirical lit erature on the effects of financial deepening is insuf ficient. In that context, this study aims to investigate the impact of financial depth on the level of carbon emissions in CEE counties. A panel threshold regres sion model was carried out for a set of 11 countries, from 1995 to 2018. The main findings confirmed the existence of a double threshold effect. While in the low financial depth regime, financial deepening increases carbon emissions, in the medium regime it reduces them. In the high regime, however, no sta tistically significant effects were observed regarding the effects of the financial deepening. Moreover, emissions are reduced with taxes. None of the countries in the sample has financial depth index value between threshold values, according to the last three years’ averages. The findings argue that financial deepening will not be an adequate solution to reducing emissions and point to the importance of public tax policies."

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“金融深化能解决碳排放问题吗？来自中东欧国家的经验证据”

“近年来，从中央计划经济向市场经济过渡的中东欧国家的金融深化有所增加。然而，它对碳排放的影响是可逆的。尽管排放的决定因素经常根据欧盟的净零碳排放目标进行审查，但金融深化影响的实证研究是不够的。在此背景下，本研究旨在调查财政深度对中东欧国家碳排放水平的影响。从1995年到2018年，对11个国家进行了面板阈值重新划分模型。主要发现证实了双阈值效应的存在。在低金融深度制度下，金融深化会增加碳排放，而在中等制度下，则会减少碳排放。然而，在高级制度中，没有观察到金融深化的影响具有统计学意义的显著影响。此外，通过税收来减少排放。根据过去三年的平均值，样本中没有一个国家的金融深度指数值在阈值之间。研究结果认为，金融深化将不是减少排放的充分解决方案，并指出了公共税收政策的重要性。“

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

Transylvanian Review of Administrative Sciences PUBLIC ADMINISTRATION-

CiteScore

2.10

自引率

10.00%

发文量

审稿时长

25 weeks

期刊介绍： TRAS represents a collective effort initiated by an international group aimed at boosting the research in the field of public administration in a country where during the communist regime there was no tradition in this sense. TRAS represents a unique source of specialized analysis of the ex-communist space, of the transition processes to democracy, of the reform of public administration, and of comparative analysis of administrative systems. The general topic covered by the articles in the Review is administrative sciences. As a result of an interdisciplinary, modern approach, the articles cover the following specific themes: Public management, public policy, administrative law, public policy analysis, regional development, community development, public finances, urban planning, program evaluation in public administration, ethics, comparative administrative systems, etc. TRAS encourages the authors to submit articles that are based on empirical research. From the standpoint of the topic covered, TRAS is lined up with the trends followed by other international journals in the field of public administration. All articles submitted to the Transylvanian Review of Administrative Sciences have to present a clear connection to the field of administrative sciences and the research (both theoretical and empirical) should be conducted from this perspective. Interdisciplinary topics related to organizational theory, sustainable development and CSR, international relations, etc. can be considered for publication, however the research needs to address relevant issues from the perspective of the public sector. Articles which use highly specialized econometrics models as well as studies addressing macro-economic topics will not be considered for evaluation. The decision on whether a certain topic falls within the interest of TRAS belongs to the editors and it is not connected with the overall quality of the work submitted.