The purpose of this study is to explore the effect of financial development on CO2 emission in 129 countries classified by the income level. A panel CO2 emission model using urbanisation, GDP growth, trade openness, petroleum consumption and financial development variables that are major determinants of CO2 emission was constructed for the 1980-2011 period. The results revealed that the variables are cointegrated based on the Pedroni cointegration test. The dynamic ordinary least squares (OLS) and the Granger causality test results also show that financial development can improve environmental quality in the short run and long run due to its negative effect on CO2 emission. The rest of the determinants, especially petroleum consumption, are determined to be the major source of environmental damage in most of the income group countries. Based on the results obtained, the investigated countries should provide banking loans to projects and investments that can promote energy savings, energy efficiency and renewable energy to help these countries reduce environmental damage in both the short and long run.
This study examines the impact of food security on health outcomes in 56 developing countries from 2011 to 2019, using a comprehensive measure of food security. Applying generalized methods of moments, the results provide supportive evidence that food security influences health in a positive way. The existence of positive effects suggests that food availability (i.e., more supply), accessibility (i.e., higher income), utilization (i.e., healthy foods), and stability (i.e., more certainty in production) for livelihoods sustain life and promote good health. As a result, this study justifies the need for governments to provide equal support to all four dimensions of food security to promote better nutrition and health.