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摘要
The paper explores the nexus between greenhouse gas, financial development, energy consumption, trade and urbanization in 34 upper middle income countries from Asia, Europe, Africa and America (South and North) by using panel data from 2001 to 2014. Vector error correction model explored different results for different regions such as the causality of greenhouse gas for Europe and America; financial development for Asia; trade openness for Asia, Europe and America; and urbanization for Africa and America. The causality of greenhouse gas emission was bi-directional with urbanization in America and trade in Europe. The bi-directional causality of trade was observed with financial development in Asia and urbanization in Africa. The generalized method of moment and fully modified ordinary least square explored a direct association of per capita greenhouse gas emission with financial development in Europe; energy consumption in all panels, and renewable energy in Africa and America. But, the relationship of per capita emission was reciprocal with financial development in Asia, Africa and America; renewable energy in Europe; trade in Europe, Africa and America; and urbanization in Asia, Europe and America. The relationship of variables changes from region to region and country to country. A country based reciprocal effect on per capita greenhouse gas was observed for financial development, renewable energy, trade openness and urbanization for different countries. This paper provides an insight to policy makers to re-structure the financial system, energy usage pattern, trade and urbanization in accordance with the cleaning of environment at country and regional level.
- 出版日期2017-9-10
