Country |
Author |
Period of study |
Financial Development indicators |
Impact on Carbon emissions |
46 sub Saharan countries |
Acheampong, (2019) |
2000-2015 |
broad money, DC by banks, DC by financial sector and DC |
[+] |
Selected high income, middle income and lower income countries in the world |
Nasreen and Anwar (2015) |
1980-2010 |
FD index |
[-] in high income countries[+] in middle- andlow-income |
12 Small IslandDeveloping States |
Seetanah et al. (2019) |
2000–2016 |
DC as a percentage of GDP |
Insignificant impact of FD on carbon emissions.The joint effect of economic and FD on the carbon emissions. |
BRIC |
Tamazian et al. (2009) |
1992-2004 |
stock market value added, FDI, deposit money bank assets/ GDP, capital account convertibility, FL, financial openness. |
[-][-][+][-][-][+] |
24 Transition Economies |
Tamazian and Rao (2010) |
1993-2004 |
FDIFL |
[-][-] |
Indonesia |
Shahbaz, Hye et al. (2013). |
1975Q1-2011Q4 |
Real DC per capita |
[-] |
Qatar |
Mrabet and Alsamara (2017). |
1980-2011 |
DC to GDP ratio |
[-] |
Kenya |
Al-Mulali et al. (2016). |
1980-2012 |
DC |
[-] |
Pakistan |
Javid and Sharif (2016) |
1972-2013 |
DC as a percentage of GDP |
[+] |
Pakistan |
Shahbaz et al. (2016). |
1985Q1-2014Q4 |
DC |
[+] |
USA |
Dogan and Turkekul (2016) |
1960-2010 |
DC |
No significant impact. |
India |
Boutabba (2014) |
1971-2008 |
DC |
[+] |
Malaysia |
Bekhet et al. (2017) |
1970-2013 |
DC |
[+] |
Malaysia |
Shahbaz, Solarin, et al. (2013) |
1971-2011 |
Real DC per capita |
[-] |
Malaysia |
Maji et al. (2017). |
1980-2014 |
DC |
[+] transportation, oil & gas.[-] manufacturing & construction.No significant impact for agricultural sector. |