Decoding the complex relation of financial development and carbon emission using bibliometric analysis

Abstract

The intensifying global concern over climate change has spurred research into the intricate relationship between financial development (FD) and carbon emissions (CE). Although studies have explored the impact of FD on CE, the nature of the association still needs to be discovered, with existing literature offering a mosaic of findings. Therefore, this Study delves into the complex relationship by scrutinizing empirical research on FD proxies from the Scopus and WOS databases, covering 2014 to 2023. The Bibliometric analysis identifies China as the leading contributor to scientific research on FD and CE, followed by Turkey and Pakistan. Noteworthy contributors include Muhammad Shahbaz, Cyprus International University, and Environmental Science and Pollution Research. The study reveals a consistent surge in publications on FD and CE, reflecting growing global research from 2019 to 2023. Furthermore, it reveals that various factor, including economic growth patterns, energy consumption trends, and environmental regulations, likely influence FD’s impact on CE. These findings emphasize a nuanced understanding of the FD and CE relationship. Future research should aim to develop a robust theoretical framework to capture the intricate interplay between FD and CE, providing insights for policy decisions addressing climate change and sustainable economic growth.