Year: 2025
Type: article
Abstract: The elimination of barriers to the movement of goods, services and factors of production within an integration association leads to the intensification of financial development of countries, which in turn stimulates economic growth in the space of the association. The problem is that in accordance with the hypothesis of the environmental curve of Smith, the rapid pace of economic growth, lead to an increase in the burden on the environment. The purpose of the study is to assess the impact of financial development on the environment in the EAEU space in the long-term time interval. Using correlation analysis, the paper verifies the hypothesis that financial development intensifies the pace of production, which damages the environment (introduction of green technologies does not have time to compensate for the growth of environmental costs). The study finds that for Armenia, Russia and Kyrgyzstan there is a statistically significant relationship between financial development and ecological footprint.
Source: Management Accounting
Authors: Угрюмова , М.А., Шкиотов , С.В.
Institutions: Yaroslavl State Technical University, Financial University
Language: Russian
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: diamond
OpenAlex ID: W7217200596