Financial and Economic Drivers of Ecological Footprint: a Panel Quantile Regression Analysis of the EU
The European Union (EU), as a signatory to the Paris Climate Agreement, aims to take on a global leadership role in sustainable environmental initiatives. This study explores the contribution of economic and financial developments to environmental sustainability in EU member states with successful e...
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| Format: | Article |
| Language: | English |
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Czech Statistical Office
2025-06-01
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| Series: | Statistika: Statistics and Economy Journal |
| Subjects: | |
| Online Access: | https://csu.gov.cz/docs/107508/697c55e1-f8a6-9358-ba79-066151d7d751/32019725q2_serap_vurur.pdf?version=1.0 |
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| author | Serap Vurur Munevvere Yildiz Letife Ozdemir |
| author_facet | Serap Vurur Munevvere Yildiz Letife Ozdemir |
| author_sort | Serap Vurur |
| collection | DOAJ |
| description | The European Union (EU), as a signatory to the Paris Climate Agreement, aims to take on a global leadership role in sustainable environmental initiatives. This study explores the contribution of economic and financial developments to environmental sustainability in EU member states with successful environmental policies. The impacts of economic growth, financial development, and foreign direct investments on the ecological footprint are examined for 16 EU member states. Data from 1990–2021 is analysed using panel quantile regression and the Dumitrescu-Hurlin causality test. According to the results, the overall impact of economic growth and financial development on the Ecological Footprint is positive. Additionally, foreign direct investments contribute to an increase in ecological footprint. According to the causality test results, economic growth and ecological footprint mutually influence each other. There is a unidirectional causality from financial development and foreign direct investments to ecological footprint. Implementing financial policies directed towards eco-friendly technologies in EU member states will positively impact environmental sustainability. |
| format | Article |
| id | doaj-art-76cd14731d3f465fb7b61adbd0f9a993 |
| institution | OA Journals |
| issn | 0322-788X 1804-8765 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Czech Statistical Office |
| record_format | Article |
| series | Statistika: Statistics and Economy Journal |
| spelling | doaj-art-76cd14731d3f465fb7b61adbd0f9a9932025-08-20T02:07:38ZengCzech Statistical OfficeStatistika: Statistics and Economy Journal0322-788X1804-87652025-06-01105217819610.54694/stat.2024.52Financial and Economic Drivers of Ecological Footprint: a Panel Quantile Regression Analysis of the EUSerap Vurur0https://orcid.org/0000-0003-4339-6474Munevvere Yildiz1https://orcid.org/0000-0001-9541-2603Letife Ozdemir2https://orcid.org/0000-0002-8636-2277Afyon Kocatepe University, Afyonkarahisar, TürkiyeAfyon Kocatepe University, Afyonkarahisar, TürkiyeAfyon Kocatepe University, Afyonkarahisar, TürkiyeThe European Union (EU), as a signatory to the Paris Climate Agreement, aims to take on a global leadership role in sustainable environmental initiatives. This study explores the contribution of economic and financial developments to environmental sustainability in EU member states with successful environmental policies. The impacts of economic growth, financial development, and foreign direct investments on the ecological footprint are examined for 16 EU member states. Data from 1990–2021 is analysed using panel quantile regression and the Dumitrescu-Hurlin causality test. According to the results, the overall impact of economic growth and financial development on the Ecological Footprint is positive. Additionally, foreign direct investments contribute to an increase in ecological footprint. According to the causality test results, economic growth and ecological footprint mutually influence each other. There is a unidirectional causality from financial development and foreign direct investments to ecological footprint. Implementing financial policies directed towards eco-friendly technologies in EU member states will positively impact environmental sustainability.https://csu.gov.cz/docs/107508/697c55e1-f8a6-9358-ba79-066151d7d751/32019725q2_serap_vurur.pdf?version=1.0ecological footprintsustainable environmenteconomic growthfinancial developmentforeign direct investmentseu member states |
| spellingShingle | Serap Vurur Munevvere Yildiz Letife Ozdemir Financial and Economic Drivers of Ecological Footprint: a Panel Quantile Regression Analysis of the EU Statistika: Statistics and Economy Journal ecological footprint sustainable environment economic growth financial development foreign direct investments eu member states |
| title | Financial and Economic Drivers of Ecological Footprint: a Panel Quantile Regression Analysis of the EU |
| title_full | Financial and Economic Drivers of Ecological Footprint: a Panel Quantile Regression Analysis of the EU |
| title_fullStr | Financial and Economic Drivers of Ecological Footprint: a Panel Quantile Regression Analysis of the EU |
| title_full_unstemmed | Financial and Economic Drivers of Ecological Footprint: a Panel Quantile Regression Analysis of the EU |
| title_short | Financial and Economic Drivers of Ecological Footprint: a Panel Quantile Regression Analysis of the EU |
| title_sort | financial and economic drivers of ecological footprint a panel quantile regression analysis of the eu |
| topic | ecological footprint sustainable environment economic growth financial development foreign direct investments eu member states |
| url | https://csu.gov.cz/docs/107508/697c55e1-f8a6-9358-ba79-066151d7d751/32019725q2_serap_vurur.pdf?version=1.0 |
| work_keys_str_mv | AT serapvurur financialandeconomicdriversofecologicalfootprintapanelquantileregressionanalysisoftheeu AT munevvereyildiz financialandeconomicdriversofecologicalfootprintapanelquantileregressionanalysisoftheeu AT letifeozdemir financialandeconomicdriversofecologicalfootprintapanelquantileregressionanalysisoftheeu |