This research paper aims to examine the association between financial development and environmental quality in 31 European Union (EU) countries from 2001 to 2020. This study proposed an estimation model for the study by combining regression models. The regression model has a dependent variable, carbon emissions, and five independent variables, including Urbanization (URB), Total population (POP), Gross domestic product (GDP), Credit to the private sector (FDB), and Foreign direct investment (FDI). This research used regression methods such as the Fixed Effects Model, Random Effects Model, and Feasible generalized least squaresThe findings reveal that URB, POP, and GDP positively impact carbon emissions in EU countries, whereas the FDB variable exhibits a contrary effect. The remaining variable, FDI, is not statistically significant. In response to these findings, we advocate for adopting transformative green solutions that aim to enhance the quality of health, society, and the environment, offering comprehensive strategies to address Europe’s environmental challenges and pave the way for a sustainable future.
Given the importance of Information Communication Technology (ICT) in stimulating stock market development, many researchers have investigated their influences on the developed markets and high-income economies. The aim of this study is to examine the impact of ICT diffusion on stock market development for a panel of 17 selected emerging countries over the period 1990–2020 and employed the system-generalized method of moments (S-GMM) to test its objective. Three stock market development indicators are also used, namely: stock market capitalization (SMC), stock market total value traded (SMTT), and stock market turnover (SMT). Three ICT indicators are also employed, namely: Fixed telephone subscriptions (FTS), Individuals using the Internet (IUI), and Mobile cellular subscriptions (MCS). Three financial development indicators (deposit money among bank assets (DMB), liquid liabilities (LLB), and private credit by deposit money bank (PCM)) were employed as control variables. In its findings, all selected ICT dynamics positively affect stock market development and its constituents. Secondly, no proof was confirmed in relation to the impact of fixed telephone and stock market development with its elements. Thirdly, evidence of a positive relationship is sparingly apparent in financial development and its components. Fourthly, compared with fixed telephone, internet users more positively and significantly affect stock market development indicators. Policy implications are discussed.
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