The Impact of the Financial Industry and Globalization on Environmental Quality

The objectives of this study were to evaluate the impact financial development, globalization, and pollution in six MENA countries from 1971 2015. Many prior studies empirically explored numerous factors determining environmental quality/pollution across world. As far as region North Africa Middle East is concerned, majority previous ignored combined role globalization development predicting quality using carbon emissions (CO2). Furthermore, we aimed assess legitimacy Kuznets curve (EKC) theory for nations. For purpose, a feasible generalized least squares (FGLS) estimator was applied. It found that sector significantly affected ecological quality. Regressors such energy use foreign direct investment (FDI) had an altogether positive effect on natural These empirical discoveries also demonstrate acceptability EKC hypothesis This shows governments need develop implement appropriate policies promote renewable sources, wind, solar, biofuel, heat production, which help reduce dioxide sustainable economic development.