Climate Action Under the Paris Agreement: How Do Economic Globalization and Financial Development Make Asia’s Environmental Quality Better?

DOI

10.2991/978-94-6463-583-6_16How to use a DOI?

Keywords

EKC; Financial development; Economic globalization; Environment degradation; Paris Climate Agreement

Abstract

Climate change is a pressing issue at high-level conferences, with COP26 being regarded as a significant milestone with historic agreements on climate change, marking a pivotal moment in global efforts to address the issue. This study was conducted in 43 Asian countries between 2009 and 2022 to examine the impact of economic growth, financial development, and economic globalization and the moderating role of the Paris Agreement on environmental issues. Using S-GMM estimation, the authors discover an inverted U-shaped impact of economic growth on environmental degradation, which is consistent with the EKC hypothesis. Besides, both economic globalization, financial development and the Paris Climate Agreement have negative impacts on environmental degradation. The findings also show that the Paris Climate Agreement negatively moderates the Financial Development - Environment Degradation nexus and has a positive moderating effect on Economic Globalization - Environment Degradation nexus. Based on the research results, the study has provided policy implications and recommendations to improve environmental quality in Asia.

Copyright

© 2024 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Nguyen Thi Hong Nham
AU  - Nguyen Sy Binh
AU  - Nguyen Ngoc Huyen
AU  - Pham Hoang Phuc
AU  - Phung Ngoc Anh Thu
PY  - 2024
DA  - 2024/11/26
TI  - Climate Action Under the Paris Agreement: How Do Economic Globalization and Financial Development Make Asia’s Environmental Quality Better?
BT  - Proceedings of the 2nd International Conference - Resilience by Technology and Design (RTD 2024)
PB  - Atlantis Press
SP  - 315
EP  - 324
SN  - 1951-6851
UR  - https://doi.org/10.2991/978-94-6463-583-6_16
DO  - 10.2991/978-94-6463-583-6_16
ID  - Nham2024
ER  -