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Financial inclusion and environmental quality: does corruption control matter?

Author

Listed:
  • Mosab I. Tabash
  • Umar Farooq
  • Ghaleb A. El Refae
  • Jamal Abu-Rashed
  • Mamdouh Abdulaziz Saleh Al-Faryan

Abstract

Purpose - Literature has widely discussed the relevant role of financial development in determining atmospheric quality. However, there has not been much discussion of how financial inclusion (FIC) plays its role in environmental quality. Thus, this research aims to unveil the role of financial inclusion in determining the CO2emissions which serve as a proxy of environmental quality. In addition, this study examines the moderating role of corruption control (CC) in the nexus of FIC-CC. Design/methodology/approach - The empirical results were based on 22 years of annual data from five Brazil, Russia, India, China and South Africa (BRICS) economies, covering the years 1996–2017. The authors use the autoregressive distributed lag (ARDL) model to check regression among variables. Findings - The empirical findings first disclosed the positive impact of FIC whereas CC had an inverse impact on CO2emissions. However, the moderating role of CC was observed in mitigating the adverse impact of FIC on ecological quality. In addition, the statistical analysis further showed an inverse impact of economic growth and foreign investment and a positive impact of trade volume and energy consumption on CO2emissions. Practical implications - This analysis states an important policy regarding integrated FIC and green environmental requirements. Additionally, the negative externality of FIC can be controlled by improving the CC. Originality/value - This study complements the existing literature on FIC and environmental quality by adding the moderating role of CC.

Suggested Citation

  • Mosab I. Tabash & Umar Farooq & Ghaleb A. El Refae & Jamal Abu-Rashed & Mamdouh Abdulaziz Saleh Al-Faryan, 2023. "Financial inclusion and environmental quality: does corruption control matter?," International Journal of Social Economics, Emerald Group Publishing Limited, vol. 50(8), pages 1123-1138, March.
    • Handle: RePEc:eme:ijsepp:ijse-06-2022-0407
    DOI: 10.1108/IJSE-06-2022-0407
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    More about this item

    Keywords

    BRICS; Corruption control; Environmental degradation; Financial inclusion; O16; Q56; Q58;
    All these keywords.

    JEL classification:

    • O16 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Financial Markets; Saving and Capital Investment; Corporate Finance and Governance
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • Q58 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environmental Economics: Government Policy

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