金融発展と炭素排出のネクサス：異質なグローバルパネルにおける制度品質の調整効果の評価
Financial Development and Carbon Emissions Nexus: Assessing the Moderating Role of Institutional Quality in a Heterogeneous Global Panel (原題)
Azeez, Ameen, Sadia
🤖 gxceed AI 要約
日本語
1998〜2024年の92カ国（先進55・途上37）パネルをGMMで分析し、金融発展がCO2排出に与える影響と制度品質の調整効果を検証。全体および途上国では制度の改善がむしろ化石燃料依存産業への信用配分を促し環境を保全しない一方、先進国では制度の閾値仮説を支持する構造的反転が見られた。途上国にはグリーンタクソノミー導入、先進国には非再生可能エネルギー補助金廃止と炭素調整措置を提言する。
English
Using GMM on a 92-country panel (55 developed, 37 developing) from 1998-2024, the study examines how financial development affects CO2 emissions and how institutional quality moderates this link. Better institutions in developing countries channel credit into fossil-fuel-reliant industry rather than preserving the environment, while advanced economies show a structural inversion supporting an institutional threshold hypothesis. It recommends green taxonomy adoption in developing countries and subsidy removal plus carbon adjustment mechanisms in developed ones.
Unofficial AI-generated summary based on the public title and abstract. Not an official translation.
📝 gxceed 編集解説 — Why this matters
日本のGX文脈において
日本のGX政策・SSBJ開示とは直接の接点は薄いが、金融規制と環境基準の整合やグリーンタクソノミー設計は、日本のサステナブルファイナンス政策やトランジション・ファイナンスの議論に示唆を与える。
In the global GX context
Speaks to the global debate on aligning financial-sector development with climate goals, relevant to green taxonomy design (EU), transition finance, and carbon border adjustment mechanisms (CBAM). It cautions that institutional strengthening alone does not guarantee decarbonization without environmental standards embedded in credit allocation.
👥 読者別の含意
🔬研究者:金融発展・制度品質と排出の関係を国別異質性を踏まえて実証する枠組みとして参照できる。
🏢実務担当者:新興国での投融資・サプライチェーン調達時に、制度品質が必ずしも脱炭素を保証しない点をリスク評価に反映できる。
🏛政策担当者:グリーンタクソノミーや炭素調整措置の設計において、金融政策と環境基準の統合の必要性を示す。
📄 Abstract（原文）
Financial development helps countries to achieve a high growth trajectory. However, its implications for environmental sustainability are rather complex. Rising carbon dioxide emissions, a byproduct associated with financial development activities, pose serious constraints on environmental sustainability. Numerous factors influence emission levels; among them, this study examines how financial development affects carbon dioxide emissions across overall developed and developing countries using the GMM approach over the period 1998-2024. The study relies on a broader global panel data comprising 92 countries, including 55 developed and 37 developing countries. Findings for the global panel, in general, and for developing countries reveal that institutional structures facilitate economic growth but don’t preserve the environment. Better institutions minimize market friction and direct credit into traditional fossil-fuel-reliant industrial frameworks. Conversely, the advanced economy sample reveals a critical structural inversion, validating an institutional threshold hypothesis. The study calls for aggressive integration of environmental standards by developing countries through a green taxonomy framework. Developed countries should eliminate subsidies on non-renewable energy and implement strict carbon adjustment mechanisms. Climate governance should promote environmentally friendly regulatory adaptation from advanced economies to developing nations.
🔗 Provenance — このレコードを発見したソース
- openalex https://doi.org/10.54938/ijemdss.2026.05.5.859first seen 2026-10-19 04:56:50
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