Macroprudential policies and CO2 emissions: a comparative analysis of G7 and BRIC countries
This study investigates the impact of macroprudential policies on CO2 emissions in G7 and BRIC countries using country-level panel data from 11 countries, covering the period from 1992 to 2020. The findings indicate that macroprudential policies alleviate CO2 emissions in the sample. Quantile regres...
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| Format: | Article |
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Public Library of Science
2024
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| Online Access: | http://psasir.upm.edu.my/id/eprint/105735/ |
| _version_ | 1848864593523245056 |
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| author | Luo, Heng Kamarudin, Fakarudin |
| author_facet | Luo, Heng Kamarudin, Fakarudin |
| author_sort | Luo, Heng |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | This study investigates the impact of macroprudential policies on CO2 emissions in G7 and BRIC countries using country-level panel data from 11 countries, covering the period from 1992 to 2020. The findings indicate that macroprudential policies alleviate CO2 emissions in the sample. Quantile regression results reveal that policies can exacerbate CO2 emissions in countries with high levels of CO2 emissions due to carbon leakage. The positive impact of macroprudential policies on sustainable development can be strengthened by high level of globalisation. Moreover, the influence of macroprudential policies stayed the same based on the basic regression results during the post-global financial crisis (GFC) period, while the impact was positive in the pre-GFC period. Finally, robust tests validated the findings reported in the basic regression model. From this, policymakers should prioritise sustainable economic growth when implementing macroprudential policies and leverage the influence of globalisation to amplify their impact on CO2 emissions. Furthermore, it is crucial to strengthen environmental regulations to prevent carbon leakage that result from industries seeking lenient standards. |
| first_indexed | 2025-11-15T13:51:17Z |
| format | Article |
| id | upm-105735 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-15T13:51:17Z |
| publishDate | 2024 |
| publisher | Public Library of Science |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-1057352024-05-30T07:31:35Z http://psasir.upm.edu.my/id/eprint/105735/ Macroprudential policies and CO2 emissions: a comparative analysis of G7 and BRIC countries Luo, Heng Kamarudin, Fakarudin This study investigates the impact of macroprudential policies on CO2 emissions in G7 and BRIC countries using country-level panel data from 11 countries, covering the period from 1992 to 2020. The findings indicate that macroprudential policies alleviate CO2 emissions in the sample. Quantile regression results reveal that policies can exacerbate CO2 emissions in countries with high levels of CO2 emissions due to carbon leakage. The positive impact of macroprudential policies on sustainable development can be strengthened by high level of globalisation. Moreover, the influence of macroprudential policies stayed the same based on the basic regression results during the post-global financial crisis (GFC) period, while the impact was positive in the pre-GFC period. Finally, robust tests validated the findings reported in the basic regression model. From this, policymakers should prioritise sustainable economic growth when implementing macroprudential policies and leverage the influence of globalisation to amplify their impact on CO2 emissions. Furthermore, it is crucial to strengthen environmental regulations to prevent carbon leakage that result from industries seeking lenient standards. Public Library of Science 2024 Article PeerReviewed Luo, Heng and Kamarudin, Fakarudin (2024) Macroprudential policies and CO2 emissions: a comparative analysis of G7 and BRIC countries. PLoS ONE, 19 (1). art. no. 296363. pp. 1-22. ISSN 19326203 https://www.scopus.com/inward/record.uri?eid=2-s2.0-85181629907&doi=10.1371%2fjournal.pone.0296363&partnerID=40&md5=8cda5b02d882c84aed8afeffd4c9b455 10.1371/journal.pone.0296363 |
| spellingShingle | Luo, Heng Kamarudin, Fakarudin Macroprudential policies and CO2 emissions: a comparative analysis of G7 and BRIC countries |
| title | Macroprudential policies and CO2 emissions: a comparative analysis of G7 and BRIC countries |
| title_full | Macroprudential policies and CO2 emissions: a comparative analysis of G7 and BRIC countries |
| title_fullStr | Macroprudential policies and CO2 emissions: a comparative analysis of G7 and BRIC countries |
| title_full_unstemmed | Macroprudential policies and CO2 emissions: a comparative analysis of G7 and BRIC countries |
| title_short | Macroprudential policies and CO2 emissions: a comparative analysis of G7 and BRIC countries |
| title_sort | macroprudential policies and co2 emissions: a comparative analysis of g7 and bric countries |
| url | http://psasir.upm.edu.my/id/eprint/105735/ http://psasir.upm.edu.my/id/eprint/105735/ http://psasir.upm.edu.my/id/eprint/105735/ |