Vertical financial disparity, energy prices and emission reduction: Empirical insights from Pakistan

JOURNAL OF ENVIRONMENTAL MANAGEMENT

卷:294

Article

Li, Weiqing¹  Chien, Fengsheng^2,3  Quang-Thanh Ngo⁴  Tien-Dung Nguyen^5,6  Iqbal, Sajid⁷  Bilal, Ahmad Raza⁸ 

[1] Zhejiang Int Studies Univ, Sch Int Econ & Tourism Management, Hangzhou 310023, Peoples R China

[2] Fuzhou Univ Int Studies & Trade, Sch Finance & Accounting, Fuzhou, Fujian, Peoples R China

[3] City Univ Macau, Fac Business, Macau, Peoples R China

[4] Univ Econ, Sch Govt, Ho Chi Minh City, Vietnam

[5] Univ Econ & Law UEL, Board Rectors, Ho Chi Minh City, Vietnam

[6] Vietnam Natl Univ Ho Chi Minh City VNU HCM, Ho Chi Minh City, Vietnam

[7] Univ Management & Technol, KUBEAC, Sialkot Campus, Sialkot, Pakistan

[8] Sohar Univ, Fac Business, Sohar, Oman

关键词: Vertical financial disparity;    Energy prices;    Carbon emissions;    Environmental regulation;    Industrial structure;   

DOI  :  10.1016/j.jenvman.2021.112946

来源: Elsevier

【 摘 要 】

The economic and environmental aspects of energy production have become important due to the increasing complexity energy sector and envoirnmental pollution, warranting to test the connection between financial imbalances, energy prices and carbon emission. The study aims to test the impact of vertical fiscal imbalances (VFI) on energy prices and carbon emission trends by considering the dual-perspectives of environmental regulation and industrial structure. The empirical outcomes indicated that vertical fiscal imbalances limited the environmental quality of Pakistan. Furthermore, VFI also caused environmental degradation by affecting industrial structure. VFI inhibits the intensity of environmental regulation, promotes the upgrade of industrial structures, both of which cause additional carbon emissions. The study suggest to energy ministries and energy regulation offices to revisit the machinism of energy prices determination and revised machanisim should provide a user-friendly assessment to understand the actual costs associated with the rising concern of environmental pollution. By this, envoirnmental protection maximization and optimal energy conservation is expacted to increase. Based on empirical findings, the study extends the suggestion that vertical fiscal imbalances should be considered an active indicator by the key policy makers and other stakeholders for energy prices determination and environmental quality upgradation.

【 授权许可】

Free