The impact of financial development on accelerating the environmental degradation in Bangladesh
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- Category: Content №2 2022
- Last Updated on 30 April 2022
- Published on 30 November -0001
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Authors:
S.Chowdhury, orcid.org/0000-0001-6961-5933, Daffodil International University, Dhaka, the Peoples Republic of Bangladesh, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
M.Rahman, orcid.org/0000-0003-4391-0840, Comilla University, Kotbari, Cumilla, the Peoples Republic of Bangladesh, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
N.M.Zayed, orcid.org/0000-0001-7519-6552, Daffodil International University, Dhaka, the Peoples Republic of Bangladesh, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
K.B.M.Rajibul Hasan, orcid.org/0000-0002-3142-9390, Agrani Bank Limited, Dhaka, the Peoples Republic of Bangladesh, e-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.
V.Nitsenko, orcid.org/0000-0002-2185-0341, SCIRE Foundation, Warsaw, the Republic of Poland, email: This email address is being protected from spambots. You need JavaScript enabled to view it.
Naukovyi Visnyk Natsionalnoho Hirnychoho Universytetu. 2022, (2): 102 - 106
https://doi.org/10.33271/nvngu/2022-2/102
Abstract:
Purpose. To examine long-run and short-run effects of industrial financial development on carbon emissions in Bangladesh.
Methodology. The auto-regressive distributed lag model was implemented on the data collected from 1976 to 2020 to exhibit cointegration in regression form. Traditional unit roots as well as the Zivot-Andrews structural break test was conducted for investigating a significant single-break. The auto-regressive distributed lag model (ARDL) model approved long-run cointegration having a structural break in this study.
Findings. The results conclude that energy consumption triggers carbon emissions with a significant effect on short and long-run models but financial development has no significant effect on environmental degradation. A considerable U-shape Environmental Kuznets Curve hypothesis is observed at the nexus of carbon emissions and economic growth.
Originality. The current study proposed to contribute to the existing literature by assessing the effects of financial development, economic growth, and energy consumption on environmental degradation in Bangladesh using modern econometric methodologies.
Practical value. The results obtained will be useful to scientists, economists and practitioners dealing with economic and environmental development of different industries.
Keywords: financial development, industry, energy consumption, ARDL, economic growth, environmental degradation
References.
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