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<p>The study investigates how remittance outflows influence environmental quality in the world’s top ten remittance-sending economies, while accounting for financial innovation, energy transition, trade openness, natural resource rents, and economic growth. Using annual data from 1990 to 2023, we apply second-generation panel techniques—including the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) model and the AMG and CCEMG estimators—to address cross-sectional dependence, heterogeneity, and potential endogeneity. The results reveal a stable long-run relationship among the variables. Remittance outflows do not exert a significant impact on CO₂ emissions, suggesting that outflow-related income leakage does not directly translate into environmental pressure in host countries. In contrast, energy transition consistently reduces emissions, highlighting the importance of renewable energy adoption. Financial innovation and trade openness increase emissions, indicating that credit expansion and global integration remain tied to carbon-intensive activities. Natural resource rents and economic growth exhibit context-dependent effects across models. Robustness checks using developed–developing subsamples confirm the stability of these findings. Overall, the study provides new cross-country evidence on the remittance–environment nexus and underscores the need for policies that align financial innovation, trade structures, and remittance-related capital flows with long-term decarbonization goals.</p>

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Assessing the environmental impact of remittance outflows in the context of financial innovation, energy transition, and trade openness in top remitting countries

  • 期刊论文

  • 发表日期：

    2026年7月13日

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  • Md. Saiful Islam,
  • Anisur Rehman

摘要

The study investigates how remittance outflows influence environmental quality in the world’s top ten remittance-sending economies, while accounting for financial innovation, energy transition, trade openness, natural resource rents, and economic growth. Using annual data from 1990 to 2023, we apply second-generation panel techniques—including the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) model and the AMG and CCEMG estimators—to address cross-sectional dependence, heterogeneity, and potential endogeneity. The results reveal a stable long-run relationship among the variables. Remittance outflows do not exert a significant impact on CO₂ emissions, suggesting that outflow-related income leakage does not directly translate into environmental pressure in host countries. In contrast, energy transition consistently reduces emissions, highlighting the importance of renewable energy adoption. Financial innovation and trade openness increase emissions, indicating that credit expansion and global integration remain tied to carbon-intensive activities. Natural resource rents and economic growth exhibit context-dependent effects across models. Robustness checks using developed–developing subsamples confirm the stability of these findings. Overall, the study provides new cross-country evidence on the remittance–environment nexus and underscores the need for policies that align financial innovation, trade structures, and remittance-related capital flows with long-term decarbonization goals.