Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies?
This present research examined the association among carbon emissions, financial development, economic growth, natural resources, and energy usage in GCC nations within the environmental Kuznets curve framework by applying the datasets between 1995 and 2019. It used some empirical approaches, includ...
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| Format: | Article |
| Language: | English |
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MDPI AG
2022-06-01
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| Series: | Energies |
| Subjects: | |
| Online Access: | https://www.mdpi.com/1996-1073/15/13/4663 |
| _version_ | 1797480279988764672 |
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| author | Halmat Omer Murad Bein |
| author_facet | Halmat Omer Murad Bein |
| author_sort | Halmat Omer |
| collection | DOAJ |
| description | This present research examined the association among carbon emissions, financial development, economic growth, natural resources, and energy usage in GCC nations within the environmental Kuznets curve framework by applying the datasets between 1995 and 2019. It used some empirical approaches, including second-generation unit roots and cointegration methods and method of moments quantile regression (MMQR). We detected a cointegrating interconnection between carbon emissions and financial development, energy usage, economic growth, natural resources, and squared of economic growth in the long term. Furthermore, the findings of the MMQR reveal that economic growth, financial development, energy usage, and natural resources degrade the environment, as well as proving the presence of the EKC hypothesis. Moreover, the results also demonstrated that financial development greatly moderates energy usage in order to attain environmental sustainability. Furthermore, the fixed-effect ordinary least squares, fully modified ordinary least squares, and dynamic ordinary least squares were also used in the study as a soundness check of the MMQR approach. The path of causality moves from financial development, economic growth, and squared of economic growth to CO<sub>2</sub> emissions. Lastly, the causality direction runs from carbon emissions to energy usage. Based on these findings, the energy mix of the region must be revised by ensuring the promotion of sustainable energy sources and other energy-efficient technology in order to attain the quality of the environment. |
| first_indexed | 2024-03-09T21:57:46Z |
| format | Article |
| id | doaj.art-7dbb501f25f9420ea9c1dd25450884d0 |
| institution | Directory Open Access Journal |
| issn | 1996-1073 |
| language | English |
| last_indexed | 2024-03-09T21:57:46Z |
| publishDate | 2022-06-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Energies |
| spelling | doaj.art-7dbb501f25f9420ea9c1dd25450884d02023-11-23T19:55:25ZengMDPI AGEnergies1996-10732022-06-011513466310.3390/en15134663Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies?Halmat Omer0Murad Bein1Department of Business Administration, Cyprus International University, Mersin 10, Nicosia 99040, TurkeyFaculty of Economics and Administrative Sciences, Cyprus International University, Mersin 10, Nicosia 99040, TurkeyThis present research examined the association among carbon emissions, financial development, economic growth, natural resources, and energy usage in GCC nations within the environmental Kuznets curve framework by applying the datasets between 1995 and 2019. It used some empirical approaches, including second-generation unit roots and cointegration methods and method of moments quantile regression (MMQR). We detected a cointegrating interconnection between carbon emissions and financial development, energy usage, economic growth, natural resources, and squared of economic growth in the long term. Furthermore, the findings of the MMQR reveal that economic growth, financial development, energy usage, and natural resources degrade the environment, as well as proving the presence of the EKC hypothesis. Moreover, the results also demonstrated that financial development greatly moderates energy usage in order to attain environmental sustainability. Furthermore, the fixed-effect ordinary least squares, fully modified ordinary least squares, and dynamic ordinary least squares were also used in the study as a soundness check of the MMQR approach. The path of causality moves from financial development, economic growth, and squared of economic growth to CO<sub>2</sub> emissions. Lastly, the causality direction runs from carbon emissions to energy usage. Based on these findings, the energy mix of the region must be revised by ensuring the promotion of sustainable energy sources and other energy-efficient technology in order to attain the quality of the environment.https://www.mdpi.com/1996-1073/15/13/4663financial developmentenergy usageCO<sub>2</sub> emissionsnatural resources |
| spellingShingle | Halmat Omer Murad Bein Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies? Energies financial development energy usage CO<sub>2</sub> emissions natural resources |
| title | Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies? |
| title_full | Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies? |
| title_fullStr | Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies? |
| title_full_unstemmed | Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies? |
| title_short | Does the Moderating Role of Financial Development on Energy Utilization Contributes to Environmental Sustainability in GCC Economies? |
| title_sort | does the moderating role of financial development on energy utilization contributes to environmental sustainability in gcc economies |
| topic | financial development energy usage CO<sub>2</sub> emissions natural resources |
| url | https://www.mdpi.com/1996-1073/15/13/4663 |
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