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dc.contributor.authorParamati, Sudharshan Reddy
dc.contributor.authorAlam, Md. Samsul
dc.contributor.authorApergis, Nicholas
dc.date.accessioned2018-11-22T10:10:51Z
dc.date.available2018-11-22T10:10:51Z
dc.date.issued2017-12-17
dc.identifier.citationParamati, S.R., Alam, M.S., and Apergis, N. (2017) ‘The role of stock markets on environmental degradation: a comparative study of developed and emerging market economies across the globe’, Emerging Markets Review, 35, pp. 19-30. doi: 10.1016/j.ememar.2017.12.004en
dc.identifier.issn1566-0141
dc.identifier.doi10.1016/j.ememar.2017.12.004
dc.identifier.urihttp://hdl.handle.net/10545/623144
dc.description.abstractIt is well established in the literature that stock markets increase both economic activities and energy consumption across countries. Therefore, it is commonly believed that stock markets are expected to have a significant effect on CO2 emissions. However, it is not known whether these stock markets can contribute to more or less CO2 emissions. Hence, the goal of this study is to examine the impact of stock market indicators on CO2 emissions across a global panel of both developed and emerging market economies. The results establish that stock market indicators have a significant negative and positive impact on carbon emissions in developed and emerging market economies, respectively. Furthermore, the findings illustrate the presence of the Environmental Kuznets Curve (EKC) hypothesis, implying that stronger stock markets lead to a further decline in carbon emissions. Given these findings, the study argues that the role of stock markets in the abatement of CO2 emissions significantly varies across both developed and emerging market economies. Significant implications have to do with the fact that developed markets might have initiated effective policies on listed firms to minimize carbon emissions, while emerging markets are yet to achieve this.
dc.description.sponsorshipN/Aen
dc.language.isoenen
dc.publisherElsevieren
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/*
dc.subjectStock market indicatorsen
dc.subjectCO2 emissionsen
dc.subjectDeveloped-emerging market economiesen
dc.subjectEKC hypothesisen
dc.titleThe role of stock markets on environmental degradation: A comparative study of developed and emerging market economies across the globeen
dc.typeArticleen
dc.contributor.departmentJiangxi University of Finance and Economicsen
dc.contributor.departmentUniversity of Dundeeen
dc.contributor.departmentGriffith Universityen
dc.contributor.departmentUniversity of Piraeusen
dc.identifier.journalEmerging Markets Reviewen
html.description.abstractIt is well established in the literature that stock markets increase both economic activities and energy consumption across countries. Therefore, it is commonly believed that stock markets are expected to have a significant effect on CO2 emissions. However, it is not known whether these stock markets can contribute to more or less CO2 emissions. Hence, the goal of this study is to examine the impact of stock market indicators on CO2 emissions across a global panel of both developed and emerging market economies. The results establish that stock market indicators have a significant negative and positive impact on carbon emissions in developed and emerging market economies, respectively. Furthermore, the findings illustrate the presence of the Environmental Kuznets Curve (EKC) hypothesis, implying that stronger stock markets lead to a further decline in carbon emissions. Given these findings, the study argues that the role of stock markets in the abatement of CO2 emissions significantly varies across both developed and emerging market economies. Significant implications have to do with the fact that developed markets might have initiated effective policies on listed firms to minimize carbon emissions, while emerging markets are yet to achieve this.


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