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Demystifying pollution haven hypothesis: Role of FDI

机译:恶意干燥的污染避风港假设:FDI的作用

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This study explores the interrelationship between FDI, institutional factors, financial development and sustainability by revisiting the pollution haven (or halo) hypotheses. The data is sourced from the World Development Indicators (WDI) database over the period of 1990-2016, covering 21 developed and developing countries with high carbon emissions. The study uses dynamic panel data estimations by applying the generalized method of moments (GMM) and system-generalized methods of moments (Sys-GMM) over sample countries. The results indicate that FDI has a significant positive impact on environmental degradation. There is evidence of pollution haven hypotheses, especially in developing countries. We contribute to existing literature by revisiting the Environment Kuznets Curve (EKC) hypothesis and presenting the effect of FDI on carbon intensity in the light of institutional factors and financial development. The findings relating to FDI, institutional factors and financial development may cause researchers and policymakers to reiterate the sustainability dimension of foreign capital inflows in both developed and developing countries. We propose the policy framework to include a mandatory Statement of Environmental Disclosures for both listed and unlisted home and host companies at the time of their origin, expansion and fund raising in order to achieve sustainable business goals (SBGs).
机译:本研究探讨了外国直接投资,制度因素,财务发展和可持续性之间的相互关系,通过重新审视污染避风港(或晕)假设。该数据在1990 - 2016年期间的世界发展指标(WDI)数据库中来自于1990 - 2016年,涵盖了21个具有高碳排放的发达国家和发展中国家。该研究采用动态面板数据估计来应用时刻(GMM)的广义方法和System-Gressized方法(Sys-Gmm)在样本国家。结果表明,外国直接投资对环境退化具有显着的积极影响。有证据表明污染避风港假设,特别是在发展中国家。我们通过重新审视环境库兹涅茨曲线(EKC)假设和在制度因素和财务发展的光线下提出外国直接投资对碳强度的影响,为现有文献做出贡献。有关外国直接投资,制度因素和金融发展的调查结果可能导致研究人员和政策制定者重申发达国家和发展中国家的外国资本流入的可持续性维度。我们提出了政策框架,包括在起源,扩建和资金筹集时的上市和非上市家庭和东道国公司的强制性环境披露声明,以实现可持续的业务目标(SBGS)。

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