Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries
Abstract This study investigates the impact of macroprudential policies on ecological footprint (EF) in the top 11 largest countries. This study uses country-level panel data from these countries, covering the period from 1992 to 2020. Findings indicate that macroprudential policies alleviates ecolo...
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| Format: | Article |
| Language: | English |
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Nature Portfolio
2024-03-01
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| Series: | Scientific Reports |
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| Online Access: | https://doi.org/10.1038/s41598-024-58015-9 |
| _version_ | 1797233582926725120 |
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| author | Heng Luo Ying Sun Li Zhang |
| author_facet | Heng Luo Ying Sun Li Zhang |
| author_sort | Heng Luo |
| collection | DOAJ |
| description | Abstract This study investigates the impact of macroprudential policies on ecological footprint (EF) in the top 11 largest countries. This study uses country-level panel data from these countries, covering the period from 1992 to 2020. Findings indicate that macroprudential policies alleviates ecological footprint in the sample. Macroprudential policies primarily reduce the ecological footprint before medium quantile (50%) while the environmental benefits of the policies end in the later quantiles. Moreover, environmental policy stringency (EPS) amplifies the positive influence of macroprudential policies on environmental sustainability. Estimate results stay the same with basic regression results in the post-global financial crisis (GFC) period while the impact is positive in the pre-GFC period. Finally, other robust tests validate the findings reported in basic regression model. This study suggests that governments should customize various types of macroprudential policies while also considering environmental concerns. The achievement of a sustainable environment can be facilitated by the combined effects of macroprudential policies and EPS. |
| first_indexed | 2024-04-24T16:18:28Z |
| format | Article |
| id | doaj.art-375ead6dd0cb4c70a6f2d0fecae94ad1 |
| institution | Directory Open Access Journal |
| issn | 2045-2322 |
| language | English |
| last_indexed | 2024-04-24T16:18:28Z |
| publishDate | 2024-03-01 |
| publisher | Nature Portfolio |
| record_format | Article |
| series | Scientific Reports |
| spelling | doaj.art-375ead6dd0cb4c70a6f2d0fecae94ad12024-03-31T11:18:54ZengNature PortfolioScientific Reports2045-23222024-03-0114111510.1038/s41598-024-58015-9Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countriesHeng Luo0Ying Sun1Li Zhang2School of Digital Economy and Industry, Jiangxi University of EngineeringSchool of Digital Economy and Industry, Jiangxi University of EngineeringSchool of Economics, Zhongnan University of Economics and LawAbstract This study investigates the impact of macroprudential policies on ecological footprint (EF) in the top 11 largest countries. This study uses country-level panel data from these countries, covering the period from 1992 to 2020. Findings indicate that macroprudential policies alleviates ecological footprint in the sample. Macroprudential policies primarily reduce the ecological footprint before medium quantile (50%) while the environmental benefits of the policies end in the later quantiles. Moreover, environmental policy stringency (EPS) amplifies the positive influence of macroprudential policies on environmental sustainability. Estimate results stay the same with basic regression results in the post-global financial crisis (GFC) period while the impact is positive in the pre-GFC period. Finally, other robust tests validate the findings reported in basic regression model. This study suggests that governments should customize various types of macroprudential policies while also considering environmental concerns. The achievement of a sustainable environment can be facilitated by the combined effects of macroprudential policies and EPS.https://doi.org/10.1038/s41598-024-58015-9Macroprudential policiesEcological footprintEnvironmental policy stringencyQuantile regressionTop 11 largest countries |
| spellingShingle | Heng Luo Ying Sun Li Zhang Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries Scientific Reports Macroprudential policies Ecological footprint Environmental policy stringency Quantile regression Top 11 largest countries |
| title | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_full | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_fullStr | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_full_unstemmed | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_short | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_sort | effects of macroprudential policies on ecological footprint the moderating role of environmental policy stringency in the top 11 largest countries |
| topic | Macroprudential policies Ecological footprint Environmental policy stringency Quantile regression Top 11 largest countries |
| url | https://doi.org/10.1038/s41598-024-58015-9 |
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