O desenvolvimento financeiro afeta a degradação ambiental? Evidências para o Brasil no período 1978-2020
Abstract
The work specifies ARDL models for the period 1978-2020, aiming to investigate the relationships between the development of the financial system and environmental degradation in Brazil. A financial development index was constructed using the statistical technique of Principal Component Analysis to then incorporate it as an explanatory variable in the models. They are also included in the variable models for deforestation, for foreign direct investment, for renewable energy and for the productive sector of the economy. As a result, it is found that financial development worsens the environmental quality in Brazil, a result that is probably linked to a still low participation of green credit in the total credit allocated in the Brazilian economy.
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Copyright (c) 2024 Luiz Henrique Bispo Santos, Daniel
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