Association among financial development, economic growth, ecological footprint, and carbon emissions in India: a VECM analysis
This study explores the complex relationships between Financial Development, Economic Growth, Ecological Footprint, and Carbon Emissions, highlighting the environmental impacts of India’s economic and financial growth. As the third-largest carbon emitter globally, India’s sustainable development cha...
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| Format: | Article |
| Language: | English |
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Taylor & Francis Group
2025-12-01
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| Series: | Cogent Social Sciences |
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| Online Access: | https://www.tandfonline.com/doi/10.1080/23311886.2024.2448769 |
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| author | Sarika Keswani Narmada Mariayala Mohit Kumar Vippa Dhingra |
| author_facet | Sarika Keswani Narmada Mariayala Mohit Kumar Vippa Dhingra |
| author_sort | Sarika Keswani |
| collection | DOAJ |
| description | This study explores the complex relationships between Financial Development, Economic Growth, Ecological Footprint, and Carbon Emissions, highlighting the environmental impacts of India’s economic and financial growth. As the third-largest carbon emitter globally, India’s sustainable development challenges make this research crucial for policymakers. Covering the period from 1990 to 2022, the study employs a Vector Error Correction Model (VECM) to identify both short- and long-term cointegration relationships among these variables. The VECM-based Granger causality test reveals significant long-term connections between carbon emissions, financial development, economic growth, and the ecological footprint. Interestingly, the results indicate a positive correlation, suggesting that carbon emissions increases as economic growth, financial development, and ecological footprint increase. These findings provide valuable insights for designing policies that balance economic advancement with environmental protection in India. |
| format | Article |
| id | doaj-art-c5c3891893d24993a2c68c0fcee8e62d |
| institution | Kabale University |
| issn | 2331-1886 |
| language | English |
| publishDate | 2025-12-01 |
| publisher | Taylor & Francis Group |
| record_format | Article |
| series | Cogent Social Sciences |
| spelling | doaj-art-c5c3891893d24993a2c68c0fcee8e62d2025-01-15T10:36:39ZengTaylor & Francis GroupCogent Social Sciences2331-18862025-12-0111110.1080/23311886.2024.2448769Association among financial development, economic growth, ecological footprint, and carbon emissions in India: a VECM analysisSarika Keswani0Narmada Mariayala1Mohit Kumar2Vippa Dhingra3Symbiosis Centre for Management Studies (SCMS, Nagpur), Symbiosis International University (SIU), Pune, IndiaSymbiosis Centre for Management Studies (SCMS, Nagpur), Symbiosis International University (SIU), Pune, IndiaSymbiosis Centre for Management Studies (SCMS, Nagpur), Symbiosis International University (SIU), Pune, IndiaSchool of Commerce, NMIMS Indore, Madhya Pradesh, IndiaThis study explores the complex relationships between Financial Development, Economic Growth, Ecological Footprint, and Carbon Emissions, highlighting the environmental impacts of India’s economic and financial growth. As the third-largest carbon emitter globally, India’s sustainable development challenges make this research crucial for policymakers. Covering the period from 1990 to 2022, the study employs a Vector Error Correction Model (VECM) to identify both short- and long-term cointegration relationships among these variables. The VECM-based Granger causality test reveals significant long-term connections between carbon emissions, financial development, economic growth, and the ecological footprint. Interestingly, the results indicate a positive correlation, suggesting that carbon emissions increases as economic growth, financial development, and ecological footprint increase. These findings provide valuable insights for designing policies that balance economic advancement with environmental protection in India.https://www.tandfonline.com/doi/10.1080/23311886.2024.2448769Carbon emissionseconomic growthecological footprint and financial developmentHealth and SafetySustainable DevelopmentFinance |
| spellingShingle | Sarika Keswani Narmada Mariayala Mohit Kumar Vippa Dhingra Association among financial development, economic growth, ecological footprint, and carbon emissions in India: a VECM analysis Cogent Social Sciences Carbon emissions economic growth ecological footprint and financial development Health and Safety Sustainable Development Finance |
| title | Association among financial development, economic growth, ecological footprint, and carbon emissions in India: a VECM analysis |
| title_full | Association among financial development, economic growth, ecological footprint, and carbon emissions in India: a VECM analysis |
| title_fullStr | Association among financial development, economic growth, ecological footprint, and carbon emissions in India: a VECM analysis |
| title_full_unstemmed | Association among financial development, economic growth, ecological footprint, and carbon emissions in India: a VECM analysis |
| title_short | Association among financial development, economic growth, ecological footprint, and carbon emissions in India: a VECM analysis |
| title_sort | association among financial development economic growth ecological footprint and carbon emissions in india a vecm analysis |
| topic | Carbon emissions economic growth ecological footprint and financial development Health and Safety Sustainable Development Finance |
| url | https://www.tandfonline.com/doi/10.1080/23311886.2024.2448769 |
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