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The impact of economic policy uncertainty on PM2.5 pollution—evidence from 25 countries

We conduct theoretical and empirical study on the impact of economic policy uncertainty on PM2.5 pollution. Economic policy uncertainty has important impact on PM2.5 pollution through investment channel and innovation channel. Specifically, according to real option theory, increase in economic polic...

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Autores principales: Xin, Daleng, Xin, Liguo
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Springer Berlin Heidelberg 2022
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8785385/
https://www.ncbi.nlm.nih.gov/pubmed/35072881
http://dx.doi.org/10.1007/s11356-022-18599-z
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author Xin, Daleng
Xin, Liguo
author_facet Xin, Daleng
Xin, Liguo
author_sort Xin, Daleng
collection PubMed
description We conduct theoretical and empirical study on the impact of economic policy uncertainty on PM2.5 pollution. Economic policy uncertainty has important impact on PM2.5 pollution through investment channel and innovation channel. Specifically, according to real option theory, increase in economic policy uncertainty can reduce investment, thereby reducing PM2.5 pollution. However, increase in economic policy uncertainty can hinder corporate’s innovation activities, which in turn make PM2.5 pollution increase. Therefore, the impact of economic policy uncertainty on PM2.5 pollution depends on the combination effect of these two different effects. Furthermore, using 25 countries’ unbalanced panel data and fixed effects estimation methods, we empirically test the impact of economic policy uncertainty on PM2.5 pollution. The results show that, with the increase of economic policy uncertainty, countries’ PM2.5 pollution has significantly decreased. In addition, economic policy uncertainty has heterogeneous effect on countries’ PM2.5 pollution. Compared with countries who have higher R&D input, increase in economic policy uncertainty makes the reduction of PM2.5 pollution in countries with relatively lower R&D input higher. By changing the measurement methods of economic policy uncertainty and PM2.5 pollution indicators, and using 2SLS methods to estimate the models, the conclusions of the paper are robust. Finally, we put forward corresponding policy implications.
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spelling pubmed-87853852022-01-25 The impact of economic policy uncertainty on PM2.5 pollution—evidence from 25 countries Xin, Daleng Xin, Liguo Environ Sci Pollut Res Int Research Article We conduct theoretical and empirical study on the impact of economic policy uncertainty on PM2.5 pollution. Economic policy uncertainty has important impact on PM2.5 pollution through investment channel and innovation channel. Specifically, according to real option theory, increase in economic policy uncertainty can reduce investment, thereby reducing PM2.5 pollution. However, increase in economic policy uncertainty can hinder corporate’s innovation activities, which in turn make PM2.5 pollution increase. Therefore, the impact of economic policy uncertainty on PM2.5 pollution depends on the combination effect of these two different effects. Furthermore, using 25 countries’ unbalanced panel data and fixed effects estimation methods, we empirically test the impact of economic policy uncertainty on PM2.5 pollution. The results show that, with the increase of economic policy uncertainty, countries’ PM2.5 pollution has significantly decreased. In addition, economic policy uncertainty has heterogeneous effect on countries’ PM2.5 pollution. Compared with countries who have higher R&D input, increase in economic policy uncertainty makes the reduction of PM2.5 pollution in countries with relatively lower R&D input higher. By changing the measurement methods of economic policy uncertainty and PM2.5 pollution indicators, and using 2SLS methods to estimate the models, the conclusions of the paper are robust. Finally, we put forward corresponding policy implications. Springer Berlin Heidelberg 2022-01-24 2022 /pmc/articles/PMC8785385/ /pubmed/35072881 http://dx.doi.org/10.1007/s11356-022-18599-z Text en © The Author(s), under exclusive licence to Springer-Verlag GmbH Germany, part of Springer Nature 2022 This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.
spellingShingle Research Article
Xin, Daleng
Xin, Liguo
The impact of economic policy uncertainty on PM2.5 pollution—evidence from 25 countries
title The impact of economic policy uncertainty on PM2.5 pollution—evidence from 25 countries
title_full The impact of economic policy uncertainty on PM2.5 pollution—evidence from 25 countries
title_fullStr The impact of economic policy uncertainty on PM2.5 pollution—evidence from 25 countries
title_full_unstemmed The impact of economic policy uncertainty on PM2.5 pollution—evidence from 25 countries
title_short The impact of economic policy uncertainty on PM2.5 pollution—evidence from 25 countries
title_sort impact of economic policy uncertainty on pm2.5 pollution—evidence from 25 countries
topic Research Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC8785385/
https://www.ncbi.nlm.nih.gov/pubmed/35072881
http://dx.doi.org/10.1007/s11356-022-18599-z
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