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Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries


Citation

Luo, Heng and Sun, Ying and Zhang, Li (2024) Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries. Scientific Reports, 14 (1). art. no. 7423. ISSN 2045-2322

Abstract

This study investigates the impact of macroprudential policies on ecological footprint (EF) in the top 11 largest countries. This study uses country-level panel data from these countries, covering the period from 1992 to 2020. Findings indicate that macroprudential policies alleviates ecological footprint in the sample. Macroprudential policies primarily reduce the ecological footprint before medium quantile (50%) while the environmental benefits of the policies end in the later quantiles. Moreover, environmental policy stringency (EPS) amplifies the positive influence of macroprudential policies on environmental sustainability. Estimate results stay the same with basic regression results in the post-global financial crisis (GFC) period while the impact is positive in the pre-GFC period. Finally, other robust tests validate the findings reported in basic regression model. This study suggests that governments should customize various types of macroprudential policies while also considering environmental concerns. The achievement of a sustainable environment can be facilitated by the combined effects of macroprudential policies and EPS. © The Author(s) 2024.


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Official URL or Download Paper: https://doi.org/10.1038/s41598-024-58015-9

Additional Metadata

Item Type: Article
Divisions: School of Business and Economics
DOI Number: https://doi.org/10.1038/s41598-024-58015-9
Publisher: Nature Research
Keywords: Ecological footprint; Environmental policy stringency; Macroprudential policies; Quantile regression; Top 11 largest countries
Depositing User: Ms. Azian Edawati Zakaria
Date Deposited: 12 Nov 2024 07:35
Last Modified: 12 Nov 2024 07:35
Altmetrics: http://www.altmetric.com/details.php?domain=psasir.upm.edu.my&doi=10.1038/s41598-024-58015-9
URI: http://psasir.upm.edu.my/id/eprint/112766
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