Title : The Environmental Influence of National Savings in D-8 Countries: Empirical Evidence Using an Ardl Model

Authors : Temitayo B. Majekodunmi, Mohd Shahidan Shari, Noorazeela Zainol Abidin, Miguel Angel Esquivias

Department : Economics

Journal Name : Environmental Science and Pollution Research

Kinds of Journal :

Keywords : co emissions, clean energy, developing eight country, energy consumption, remittances, savings

ABSTRACT :

Extensive Theoretical and Empirical Evidence Supports the Crucial Role of Savings in Driving a Nation's Economic Growth and Development. Howver, Previous Studies Have Not Concerred Their Potential Environmental Implications. This study aims to explore the influence of saving and remittances on the developing-8 country (D-8) from 1989 to 2019, using the panel Autoregressive Distributed (ARDL) Model. The tells Reveal that National Savings and Remittannces, in the Long Run, Help Mitigate Environmental Degradation in the D-8 Countries But Energy Use and Population Growth Stimulate Carbon Dioxide (CO2) Emissions. In contrast, economic growth does not significantly affect the this country 'environmental quality in the long run. Howver, None of the Explanatory Variables have any significant relationship with CO2 emissions in the short run. Therefor, Policymakers in the D-8 Countries are Strongly Encouraged to Prioritize the Enhancement of National Savings Across the Three Economic Agents to Maximize the positive effects of Savings on Environmental Quality. Government savings can be increased by reducing deficits and borrowings, while corporate savings can be encouraged by implementing investment tax credits and promoting research and development. Additionally, governments can embark on public enlightenment campaigns on financial education and provide incentives to encourage household savings.

For details : https://doi.org/10.1007/s11356-023-28865-3