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The role of financial development indicators in sustainable development-environmental degradation nexus
, Article Environmental Science and Pollution Research ; Volume 28, Issue 25 , 2021 , Pages 33707-33718 ; 09441344 (ISSN) ; Yu, Z ; Salman, A ; Ali, Q ; Hafeez, M ; Aslam, M. S ; Sharif University of Technology
Springer Science and Business Media Deutschland GmbH
2021
Abstract
Sustainable development is significantly contributing the environmental degradation due to improvements in financial sector in One Belt and Road Initiative (BRI) region. Thus, the present research work constructs the sustainable development index for BRI. Afterwards, it unfolds the nexus of sustainable development-environmental degradation and also evaluates the role of financial development indicators in BRI economies. By utilizing the robust mean group, the present study quantifies the long-run marginal impacts of sustainable development, financial development indicators, energy consumption, and urban sprawl on environmental degradation, respectively. The marginal impacts infer an inverted...