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Energy Efficiency

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01.03.2024 | Original Article

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

verfasst von: Shahriyar Mukhtarov, Rıdvan Karacan, Sugra Humbatova

Erschienen in: Energy Efficiency | Ausgabe 3/2024

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Abstract

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.

Vorheriger Artikel Smart home technology adoption in Denmark: Diffusion, social differences, and energy consumption

Nächster Artikel Dynamical assessment of multi-dimensional energy poverty at the national and sub-national levels in Pakistan

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Titel: The long-run effect of financial development on carbon emissions in Kazakhstan
verfasst von: Shahriyar Mukhtarov
Rıdvan Karacan
Sugra Humbatova
Publikationsdatum: 01.03.2024
Verlag: Springer Netherlands
Erschienen in: Energy Efficiency / Ausgabe 3/2024
Print ISSN: 1570-646X
Elektronische ISSN: 1570-6478
DOI: https://doi.org/10.1007/s12053-024-10201-4

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