Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries
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 foo...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
Nature Research
2024
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| Online Access: | http://psasir.upm.edu.my/id/eprint/112766/ http://psasir.upm.edu.my/id/eprint/112766/1/112766.pdf |
| _version_ | 1848866030749745152 |
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| author | Luo, Heng Sun, Ying Zhang, Li |
| author_facet | Luo, Heng Sun, Ying Zhang, Li |
| author_sort | Luo, Heng |
| building | UPM Institutional Repository |
| collection | Online Access |
| description | 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. |
| first_indexed | 2025-11-15T14:14:07Z |
| format | Article |
| id | upm-112766 |
| institution | Universiti Putra Malaysia |
| institution_category | Local University |
| language | English |
| last_indexed | 2025-11-15T14:14:07Z |
| publishDate | 2024 |
| publisher | Nature Research |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | upm-1127662024-11-12T07:35:13Z http://psasir.upm.edu.my/id/eprint/112766/ Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries Luo, Heng Sun, Ying Zhang, Li 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. Nature Research 2024 Article PeerReviewed text en cc_by_4 http://psasir.upm.edu.my/id/eprint/112766/1/112766.pdf 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 https://doi.org/10.1038/s41598-024-58015-9 10.1038/s41598-024-58015-9 |
| spellingShingle | Luo, Heng Sun, Ying Zhang, Li Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_full | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_fullStr | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_full_unstemmed | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_short | Effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| title_sort | effects of macroprudential policies on ecological footprint: the moderating role of environmental policy stringency in the top 11 largest countries |
| url | http://psasir.upm.edu.my/id/eprint/112766/ http://psasir.upm.edu.my/id/eprint/112766/ http://psasir.upm.edu.my/id/eprint/112766/ http://psasir.upm.edu.my/id/eprint/112766/1/112766.pdf |