Journal
ENERGY ECONOMICS
Volume 93, Issue -, Pages -Publisher
ELSEVIER
DOI: 10.1016/j.eneco.2019.104506
Keywords
Economic growth; Environmental pollution; Financial development; Energy consumption; Spatial econometric model; China
Categories
Funding
- National Social Science Foundation of China [16CJL051]
- Foundation of Shaanxi Educational Committee [17JZ053]
- Xi'an Social Science Fund [19W26]
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This research reveals that energy consumption increases environmental pollution, while the impact of financial development on environmental pollution depends on financial depth and efficiency. The financial development indicators moderate the effects of technical progress and industry structure on environmental pollution differently.
This research examines data from 30 Chinese provinces from 1999 to 2017 to investigate the impacts of economic growth, energy consumption, and financial development on environmental pollution. Using spatial econometrics, we find that energy consumption has increased environmental pollution. Moreover, the direct effects of two indicators measuring financial development-financial depth and financial efficiency-on environmental pollution are directly negative and positive, respectively. Moreover, these two financial development indicators moderate the effects of technical progress and industry structure on environmental pollution differently. The inverted N-shaped environmental Kuznets curve relationship is well supported for SO2 and solid waste. (C) 2019 Elsevier B.V. All rights reserved.
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