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Financial Development and Economic Growth Impact on The Environmental Degradation in Lebanon

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  • Hanadi Taher

    (Beirut Arab University, Lebanon.)

Abstract

The study aims to examine the influence of financial development and economic growth on environmental degradation in Lebanon. Several theoretical and Empirical studies on the relationship between the financial development and economic growth on carbon emissions showed conflicting findings. This research focus on studying the impact of both the financial development and economic growth on environmental degradation in Lebanon. The findings indicate that financial development and economic growth both have significant and positive impact on the carbon dioxide emissions using some control variables like fossil energy consumption, trade openness and urbanization. Also, the results showed a significant impact for the control variables on carbon emissions. this suggests crucial implications for policy-makers. The study recommends that the policy makers in Lebanon should push the financial institutions to invest more in green and friendly environment projects which will lead to minimize the carbon dioxide emissions.

Suggested Citation

  • Hanadi Taher, 2020. "Financial Development and Economic Growth Impact on The Environmental Degradation in Lebanon," International Journal of Energy Economics and Policy, Econjournals, vol. 10(3), pages 311-316.
    • Handle: RePEc:eco:journ2:2020-03-39
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    References listed on IDEAS

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    Cited by:

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    2. Ali, Amjad & Sumaira, Sumaira & Siddique, Hafiz Muhammad Abubakar & Ashiq, Saima, 2023. "Impact of Economic Growth, Energy Consumption and Urbanization on Carbon Dioxide Emissions in the Kingdom of Saudi Arabia," MPRA Paper 118832, University Library of Munich, Germany.

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    More about this item

    Keywords

    Financial Development; Economic Growth; Carbon Emission; Environmental degradation;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • O44 - Economic Development, Innovation, Technological Change, and Growth - - Economic Growth and Aggregate Productivity - - - Environment and Growth
    • Q43 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Energy and the Macroeconomy
    • G00 - Financial Economics - - General - - - General
    • Q50 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - General

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