The long-run effect of financial development on carbon emissions in Kazakhstan

Mukhtarov S., KARACAN R., Humbatova S.

ENERGY EFFICIENCY, vol.17, no.3, 2024 (SCI-Expanded) identifier identifier

  • Nəşrin Növü: Article / Article
  • Cild: 17 Say: 3
  • Nəşr tarixi: 2024
  • Doi nömrəsi: 10.1007/s12053-024-10201-4
  • jurnalın adı: ENERGY EFFICIENCY
  • Jurnalın baxıldığı indekslər: Science Citation Index Expanded (SCI-EXPANDED), Social Sciences Citation Index (SSCI), Scopus, Academic Search Premier, IBZ Online, ABI/INFORM, Agricultural & Environmental Science Database, Compendex, Geobase, INSPEC, Pollution Abstracts
  • Adres: Bəli

Qısa məlumat

This study examined the impact of financial development, alongside income, renewable energy consumption and exports, on CO2 emissions in Kazakhstan. To conduct this analysis, Autometrics- a machine learning modeling approach- was applied to data spanning from 1993 to 2020. The findings of estimation revealed a positive and statistically significant effect of financial development and income on CO2 emissions in Kazakhstan. Numerically, a 1% increase in financial development is associated with a 0.17% rise in CO2 emissions. The positive impact of financial development on CO2 emissions can be seen as an advanced financial system can boost funding accessibility for energy and carbon-intensive sectors, such as manufacturing and large-scale infrastructure projects, potentially resulting in increased output and economic growth, often accompanied by elevated emission levels. In addition, exports have a negative influence on CO2, whereas the impacts of renewable energy consumption are insignificant. Our findings suggest that Kazakhstan's policymakers should prioritize channeling financial resources towards eco-friendly technologies, facilitating energy transitions, and promoting sustainable economic activities.