Nexus between stock markets, economic strength, R&D and environmental deterioration: new evidence from EU-27 using PNARDL approach

Muhammad Mushafiq; Błażej Prusak

doi:10.1007/s11356-022-24458-8

Nexus between stock markets, economic strength, R&D and environmental deterioration: new evidence from EU-27 using PNARDL approach

Abstrakt

This research investigates the impact of stock market indices, economic strength, and research and development expenditures on environmental deterioration in the EU-27 countries for the period 2000–2020. This study utilized linear and non-linear panel ARDL to estimate the short- and long-run effect. According to the results, the stock market indices have negative effect on environmental deterioration in the symmetric form. However, the asymmetric evidence shows that in the long run the positive shocks of stock market indices contribute positively to the environmental deterioration and negative shocks decrease the environmental deterioration. This effect is reversed in the short run. Linear effect of economic strength on environmental deterioration is positive. For non-linear effect, the long-run shocks show no difference. However, the negative shock of economic strength in the short run causes an increase in the environmental deterioration. Symmetric evidence for research and development increases environmental deterioration. However, asymmetric results show weak evidence. The study has policy implications in context of achieving sustainable development goals.

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Wersja publikacji: Accepted albo Published Version
DOI:: Cyfrowy identyfikator dokumentu elektronicznego (otwiera się w nowej karcie) 10.1007/s11356-022-24458-8
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Kategoria:

Publikacja w czasopiśmie

Typ:

artykuły w czasopismach

Opublikowano w:

ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH nr 30, strony 32965 - 32984,
ISSN: 0944-1344

Język:

angielski

Rok wydania:

2023

Opis bibliograficzny:

Mushafiq M., Prusak B.: Nexus between stock markets, economic strength, R&D and environmental deterioration: new evidence from EU-27 using PNARDL approach// ENVIRONMENTAL SCIENCE AND POLLUTION RESEARCH -Vol. 30,iss. 12 (2023), s.32965-32984

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