The Impact of Social Inclusion and Financial Development on CO 2 Emissions: Panel Analysis from Developing Countries

Nawaz Ahmad, Ghulam Ghouse (), Muhammad Bhatti and Aribah Aslam
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Nawaz Ahmad: Department of Economics, University of Lahore, Lahore 54590, Pakistan
Ghulam Ghouse: Department of Economics, University of Lahore, Lahore 54590, Pakistan
Aribah Aslam: Department of Economics, University of Lahore, Lahore 54590, Pakistan

Sustainability, 2023, vol. 15, issue 20, 1-16

Abstract: The intricate interplay between the environment and the economy entails numerous multifaceted factors that require thorough investigation. Civic activism, intergroup cohesion, and gender equality are among the pertinent factors that hold the potential to significantly impact CO 2 emissions in developing economies. However, these variables have not been explored to the extent that their importance warrants, leaving much to be studied and understood about their complex relationships with carbon emissions. Currently, developing nations find themselves more vulnerable and exposed to a plethora of environmental issues. In response to this pressing matter, the focus of this study is to expound upon the impact of various factors on the environment. To achieve this aim, this study utilizes annual data from 46 developing countries, spanning the extensive period from 1990 to 2014. Using the generalized method of moments and empirical Bayes methods, this study’s results emphasize the significant impact that civic activism, gender equality, intergroup cohesion, and financial development can have on increasing CO 2 emissions. However, civic activism reduces CO 2 emissions. These findings highlight the crucial importance of adopting a comprehensive approach that accounts for both economic and social cohesion indicators when tackling environmental challenges.

Keywords: social cohesion; CO 2 emissions; economic growth; financial development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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