Financial Development and Economic Growth Impact on the Environmental Degradation in Jordan

Ammar Jreisat
Additional contact information
Ammar Jreisat: Department of Economics and Finance, College of Business Administration, University of Bahrain, P.O. Box 32038, Kingdom of Bahrain.

International Journal of Energy Economics and Policy, 2021, vol. 11, issue 4, 157-161

Abstract: Conflicting results exist in the literature on the role of financial development and economic growth on environmental degradation. The study's focus is to investigate the influence of economic growth and financial development on environmental degradation. The study examines the impact of financial development and economic growth on environmental degradation in Jordan. The ordinary least square model results depict the significant positive impact of financial development on environmental degradation in fossil energy consumption, urbanization, and trade openness as a control variable. Results base the data from 1976 to 2018 for the economy of Jordan. Some control variables also have an insignificant positive impact on carbon emission, a proxy of environmental degradation. This study recommends Jordan's policymakers push the banking and non-banking financial institutions to provide loaning to facilitate the green and environmentally friendly projects, which causes decreased carbon dioxide emissions.

Keywords: Energy; Environment; Degradation; Urbanization; Trade. (search for similar items in EconPapers)
JEL-codes: F62 O16 O44 Q43 Q50 (search for similar items in EconPapers)
Date: 2021
References: Add references at CitEc
Citations:

Downloads: (external link)
https://www.econjournals.com/index.php/ijeep/article/download/11161/5902 (application/pdf)
https://www.econjournals.com/index.php/ijeep/article/view/11161/5902 (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: https://EconPapers.repec.org/RePEc:eco:journ2:2021-04-20

Access Statistics for this article

International Journal of Energy Economics and Policy is currently edited by Ilhan Ozturk

More articles in International Journal of Energy Economics and Policy from Econjournals
Bibliographic data for series maintained by Ilhan Ozturk ().