AI Article Synopsis
- The study investigates the relationship between economic and environmental indicators in 29 OECD countries from 1990 to 2018, aiming for sustainable economic growth.
- It finds that export diversification reduces carbon emissions but increases greenhouse gas emissions, while institutional quality and economic factors generally lower carbon emissions but can raise greenhouse emissions.
- The research highlights the complex effects of trade openness and urbanization on emissions and suggests policy recommendations for better environmental outcomes.
Article Abstract
Most of the developed countries across the globe have targeted to attain sustainable economic growth. With this focus, the current study evaluated 29 OECD countries over the time period of 1990 to 2018 to analyze the influence of economic and environmental indicators, i.e., export diversification, institutional quality, macrocosmic variables on carbon dioxide, and greenhouse gas emissions. The current study used the quantile regression and generalized method of moments approach on the selected panel. Our comprehensive econometric approach allows us to reveal that export diversification negatively affects carbon emissions but promotes greenhouse gas emissions. Similarly, institutional quality, economic growth, financial development, and economic growth helps to reduce carbon emissions but increase greenhouse emissions. In comparison, trade openness exhibits a positive influence on carbon emissions but a negative on greenhouse gas emissions. Besides, urbanization is found one of the major reasons for environmental degradation. In light of empirical fact findings, this study commends some innovative policy insights for scholars, governors, and policymakers.
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| http://dx.doi.org/10.1007/s11356-022-24332-7 | DOI Listing |
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