MS Banking and Finance

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Browsing MS Banking and Finance by Author "Alisha Khan"

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    TechnologicalInnovation, Financialization and Ecological Footprint
    (UMT. Lahore, 2023-12-22) Alisha Khan
    This research investigates the complex interplay between technological progress, financialization, and environmental sustainability in emerging markets, with a focus on Gulf and BRICS countries. Spanning the years 2001 to 2021, the study employs advanced second-generation panel data methods to explore the environmental impact through the lenses of carbon dioxide emissions and ecological footprints. The central research problem delves into the extent of influence that technological advancements and financialization exert on the environment, questioning their alignment with long-term environmental objectives. The research objective is two-fold: first, to analyze the impact of technological advancement on environmental degradation in emerging markets, particularly the Gulf and BRICS regions, and second, to investigate the role of financialization in shaping these environmental impacts. The study considers variables such as GDP, renewable energy consumption, non-renewable energy consumption, and technological development. Key research questions address the benefits or drawbacks of technological advancement on the environment and explore the relationship between technological progress and environmental degradation. The empirical analysis reveals several crucial findings. Expansion in renewable energy adoption correlates with decreased carbon emissions and mitigated ecological footprints. Conversely, increased nonrenewable energy consumption is associated with higher carbon dioxide emissions, emphasizing the need for a greater proportion of renewables in the energy mix. Furthermore, the study underscores the significant role of financialization in contributing to environmental deterioration. It highlights the importance of prioritizing long-term sustainability over short-term economic gains in government-led initiatives, especially in rapidly expanding emerging markets. In conclusion, while technological innovation holds potential for preventing environmental deterioration, the insufficient support for environmentally friendly technologies through financing remains a challenge. The study recommends collaborative efforts between developed countries and Gulf/BRICS nations to exchange sustainable practices and reduce global carbon emissions. Import restrictions on high-emission industrial commodities are suggested to promote sustainability and reduce reliance on Gulf trade.