The relationship between financial market structure and greenhouse gas emissions: The case of Vietnam

The relationship between financial market structure and greenhouse gas emissions: The case of Vietnam 15/02/2024 09:03:00 132

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The relationship between financial market structure and greenhouse gas emissions: The case of Vietnam

15/02/2024 09:03:00

Luu Anh Nguyet - Truong Thanh Tung

The study examines the correlation between Vietnam's financial market structure and greenhouse gas emissions from 1980 to 2020 using the nonlinear autoregressive distributed lag (NARDL) method and the autoregressive distributed lag (ARDL) method.. The regression results provide empirical evidence for a linear and long-run relationship between financial market structure and greenhouse gas emissions in Vietnam. The ratio of listed companies' market capitalization to the overall financial market size, calculated by summing the market capitalization of listed companies and private sector bank domestic credit, demonstrates a consistent trend with changes in carbon emissions. This correlation suggests that with the harmonized growth of financial market elements, it's essential to implement measures promoting market instruments aligned with the objective of reducing carbon emissions. This is crucial to mitigate the adverse environmental impact of financial markets, aligning with Vietnam's socioeconomic and sustainable development objectives and commitments.

Keywords: Financial market structure, greenhouse gas emissions, greenhouse gas emission reduction.

(Source: Vietnam Journal of Economics and Finance, No. 6 [51] December 2023)

 

 

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