Economics at your fingertips  

Energy and Environmental Flows: Do Most Financialised Countries within the Mediterranean Area Export Unsustainability?

Pietro Vozzella (), Franco Ruzzenenti () and Giampaolo Gabbi ()
Additional contact information
Pietro Vozzella: Department of Business and Law, University of Siena, Via S. Francesco 1, IT-53100 Siena, Italy
Franco Ruzzenenti: Energy and Sustainability Research Institute, University of Groningen, Nijenborgh 6, 9747 AG Groningen, The Netherlands
Giampaolo Gabbi: Department of Business and Law, University of Siena, Via S. Francesco 1, IT-53100 Siena, Italy

Sustainability, 2019, vol. 11, issue 13, 1-15

Abstract: The literature dedicated to the problems of transboundary pollution often aims to verify what the environmental and energy interactions between countries are. Little attention is paid to the financial relations of the phenomenon. We analyze how financial, environmental and energy flows have been redistributed within the main Mediterranean countries, with particular reference to pollution. Applying advanced methods of correlation, we verify the dynamics of transfer processes with the aim of assessing whether the link between economic and financial and environmental flows might support the hypothesis that rich countries export environmental emissions to poor ones. Our results show that richer countries have a significant propensity to export energy, financial flows and polluting emissions. The imbalance is even greater for emissions with local impact. This process is accompanied by a substantial increase in the financial activities of the North Mediterranean countries to the detriment of those of the South, which progressively increase their indebtedness. We find out that the economic and financial development of the North Med is accompanied by an increasing environmental impact measured by the various types of emissions covered by our study. The research shows how the most industrialized countries of the Mediterranean area are increasing the economic and financial gap with respect to the Southern Mediterranean countries.

Keywords: trade; finance; virtual environmental network; embodied energy flows; network theory; multiplex; reciprocity (search for similar items in EconPapers)
JEL-codes: Q Q0 Q2 Q3 Q5 Q56 O13 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link) (application/pdf) (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Access Statistics for this article

Sustainability is currently edited by Prof. Dr. Marc A. Rosen

More articles in Sustainability from MDPI, Open Access Journal
Bibliographic data for series maintained by XML Conversion Team ().

Page updated 2019-10-20
Handle: RePEc:gam:jsusta:v:11:y:2019:i:13:p:3736-:d:246703