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Examining the Relationship between Economic Growth, Financial Development, and Carbon Emissions: A Review of the Literature and Scientometric Analysis

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  • Umar Nawaz Kayani

    (College of Business, Al Ain University, Abu Dhabi, United Arab Emirates,)

  • Misbah Sadiq

    (College of Business Administration, Umm Al Quwain University, United Arab Emirates,)

  • Mustafa Raza Rabbani

    (Department of Accounting and Finance, British University of Bahrain, Kingdom of Bahrain,)

  • Ahmet Faruk Aysan

    (Hamad Bin Khalifa University, College of Islamic Studies, Qatar Foundation, Qatar.)

  • Farrukh Nawaz Kayani

    (Director Finance & Accounts, Saffron International, Islamabad, Pakistan.)

Abstract

This article presents a comprehensive overview of the relationship between economic growth, financial development, and carbon emissions by utilizing bibliometric analysis and scientific mapping. The research utilized the Scopus database, covering the period from 1989 to 2023. Through network analysis, the study identified five primary clusters, distinguished by the geographical and technological extent of the topic. The main objective of this review is to provide a comprehensive understanding of the future research avenues in the nexus between economic growth and carbon emissions. The article discusses the authors, journals, regions, and organizations that have had a significant impact on the growth-emission nexus, along with a summary of the most frequently cited works in this field. Furthermore, a meta-analysis was conducted to determine the aggregate impact of each research initiative. Based on the analysis and identified gaps, the study proposes future research paths.

Suggested Citation

  • Umar Nawaz Kayani & Misbah Sadiq & Mustafa Raza Rabbani & Ahmet Faruk Aysan & Farrukh Nawaz Kayani, 2023. "Examining the Relationship between Economic Growth, Financial Development, and Carbon Emissions: A Review of the Literature and Scientometric Analysis," International Journal of Energy Economics and Policy, Econjournals, vol. 13(2), pages 489-499, March.
    • Handle: RePEc:eco:journ2:2023-02-55
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    References listed on IDEAS

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    Cited by:

    1. Umar Nawaz Kayani & Mochammad Fahlevi & Roohi Mumtaz & Reema Al Qaruty & Muzaffar Asad, 2023. "The Nexus between Carbon Emissions and Per Capita Income of Households: Evidence from Japanese Prefectures," International Journal of Energy Economics and Policy, Econjournals, vol. 13(6), pages 567-572, November.
    2. Umar Nawaz Kayani & Roohi Mumtaz & Mochammad Fahlevi & Hassan Nasseredine & Acep Hadinata, 2024. "Unbridling the Economic Growth and Environmental Nexus in Pakistan," International Journal of Energy Economics and Policy, Econjournals, vol. 14(1), pages 488-495, January.
    3. Ismat Nasim & Mohamed Boukhris & Umar Nawaz Kayani & Farrukh Bashir & Syed Arslan Haider, 2023. "Exploring the Links between Renewable Energy, FDI, Environmental Degradation, and International Trade in Selected Developing Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 13(6), pages 418-429, November.
    4. Muhammad Asif & Jian-Qiao Li & Muhammad Azam Zia & Muhammad Hashim & Uzair Aslam Bhatti & Mughair Aslam Bhatti & Ahmad Hasnain, 2024. "Environmental Sustainability in BRICS Economies: The Nexus of Technology Innovation, Economic Growth, Financial Development, and Renewable Energy Consumption," Sustainability, MDPI, vol. 16(16), pages 1-29, August.

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    More about this item

    Keywords

    Economic development; Pollution; Financial growth; Environmental Quality; Carbon footprint; Economy-carbon nexus;
    All these keywords.

    JEL classification:

    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q59 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Other
    • B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics

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