ارتباط شاخص‌های توسعه مالی و گازهای گلخانه‌ای (با تأکید بر نرخ شهر نشینی)

نوع مقاله : مقاله پژوهشی

نویسندگان

1 استادیار، گروه اقتصاد، دانشگاه پیام نور، تهران، ایران

2 دانشیار، گروه اقتصاد، دانشگاه محقق اردبیلی، اردبیل، ایران

3 دانش آموخته کارشناسی ارشد، علوم اقتصادی، دانشگاه ارومیه، ارومیه، ایران

چکیده

این مطالعه به بررسی اثرات شاخص‌های توسعه مالی بر گازهای گلخانه‌ای در 20 کشور منا در بازه زمانی 2000-2020 می-پردازد. شاخص توسعه مالی با سه متغیر پول گسترده، اعتبارات اعطایی به بخش خصوصی و ارزش بازاری (بازار سرمایه) سنجیده شده است. از برآوردگرهای حداقل مربعات کاملا اصلاح شده(FMOLS)، حداقل مربعات پویا(DOLS)، میانگین گروهی تلفیقی(PMG) جهت برآورد ضرایب بلند مدت استفاده شده است. نتایج تجربی این پژوهش حاکی از تأثیر منفی و معناداری شاخص‌های توسعه مالی بر انتشار دی اکسید کربن در تمامی مدل‌های برآوردی دارد در حالی که متغیرهای نرخ شهرنشینی، مصرف انرژی و رشد اقتصادی تأثیر مثبت و معنی داری داشته است. در روش PMG اعتبارات اعطایی به بخش خصوصی، پول گسترده و ارزش بازاری به ترتیب موجب کاهش 150/0، 147/0، 123/0 درصدی انتشار دی اکسید کربن شده، در حالی که نرخ شهرنشینی موجب افزایش 366/0 درصدی آن شده است. بیشترین ضریب تأثیرگذاری متغیرهای شاخص توسعه مالی و نرخ شهرنشینی بر انتشار co_2 در بین سه روش به کار رفته، مربوط به اعتبارات اعطایی به بخش خصوصی(797/0) و روش DOLS است. نتایج هر سه روش با هم سازگار می‌باشند، بدین ترتیب که اعتبارات اعطایی به بخش خصوصی، پول گسترده و ارزش بازاری در هر سه روش تحقیق موجب کاهش و نرخ شهرنشینی نیز موجب افزایش انتشار دی اکسید کربن شده است و فقط در اندازه تأثیرگذاری ضرایب متفاوت است، در نتیجه می توان استدلال کرد که نتایج تحقیق از استحکام کافی برخودار بوده و فرضیات مطالعه حاضر را تأیید می‌کنند.

کلیدواژه‌ها

موضوعات


عنوان مقاله [English]

Relationship Between Financial Development Indicators and Greenhouse Gases(With An Emphasis on Urbanization Rates)

نویسندگان [English]

  • Amir Ali Farhang 1
  • Zahra Fotourechi 2
  • ali mohammadpour 3
1 Assistant Professor, Department of Economics, Payame Noor University, Tehran, Iran
2 Associate Professor, Department of Economics, Mohaghegh Ardabili University, Ardabil, Iran
3 Masters, Economic Sciences, Urmia University, Urmia, Iran
چکیده [English]

Introduction
emissions and climate change have attracted much attention due to their effects on the global environment. Financial development plays an important role in economic development by reducing information asymmetry and improving the optimal allocation of capital. In addition, many empirical studies confirm that financial development is an important factor in determining the quality of the environment. Financial development allows companies to finance their research and development activities or new facilities, which will have an impact on the environment. There is no consensus on the effect of variables. On the one hand, the growth of the financial sector provides more funds for the energy sector to research new technologies with the aim of reducing greenhouse gas emissions. On the other hand, financial development can increase production activities and increase pollution.  emission and environmental pollution are the most challenging issues discussed today. Therefore, many researchers have discussed these issues. The methods, approaches, and samples investigated in various research have reached contradictory results, and investigations in this field are still ongoing. In MENA countries, the use of fossil fuels and subsequently  emissions is more than in other countries. As our country is among these countries, it is necessary to pay more attention to the factors affecting the reduction of  emissions. Understanding the influence channels of financial development on greenhouse gas emissions and their cause-and-effect relationships is essential for policymakers in reducing pollutant emissions using financial instruments. The content of this article is organized into five parts: In the second part, the background of the studies is given. The third part of this research is the methodology, the explanations of the variables, and the research model. The fourth part is dedicated to model estimation and experimental findings, including the results of research methods, comparison of methods, and descriptive analysis of data using scatter diagrams. The final part includes conclusions and suggestions.
Materials and Methods
This research has been conducted concerning the impact of financial development indicators on carbon dioxide emissions for 20 member countries of MENA (the Middle East and North Africa) in the period 2000-2020. The data of this research was extracted from the World Bank website, and fully modified least squares (FMOLS), dynamic least squares (DOLS), and pooled mean group (PMG) estimators were used to estimate the long-run coefficients. Carbon dioxide is the dependent variable, the financial development index is one of the main variables, and energy consumption, urbanization rate, and GDP per capita are the control variables of the research.
Findings
In order to check the effectiveness of the pooled group average method and the group average, the Hausman test was used in this research. In all three methods, the variables of the financial development index have caused a decrease in  emissions, and economic growth, urbanization rate, and energy consumption have increased it. Among the three methods used, the highest coefficient of influence of variables of financial development index and urbanization rate on emission is related to credits granted to the private sector (0.797) and the DOLS method. The results of all three methods are the same, and it can be argued that the obtained results have sufficient strength.
Conclusion
According to the results of the current research and the effects of financial indicators on greenhouse gases (negative impact on  emissions), it is suggested that financial sectors should encourage and support pollution reduction projects and pay subsidies for research and development. Optimize technologies in energy and help promote and develop sustainable low-carbon industries. Local governments should plan and optimize the existing industrial structure at the time of industrial and financial support in order to reduce pollution and consider the issues of clean energy development and pollution reduction in subsidy, tax, monetary, and financial policies. Financial departments should support the policies of green technology transfer and foreign direct investment in the renewable energy sector. Also, considering that the rate of urbanization increases emissions, it is suggested: The use of pollutant control systems with advanced and modern technology in cities with high populations, policies, and strategies should be adopted with the aim of minimizing migration from rural areas to cities, the effect of increasing urbanization rates on environmental pollution through regulation Environment and technological innovations should be balanced.

کلیدواژه‌ها [English]

  • co2
  • Financial Development
  • Granger Causality
  • Pooled Mean Group (PMG)
  • Urbanization Rate
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