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ORIGINAL RESEARCH article
Front. Sustain.
Sec. Quantitative Sustainability Assessment
Volume 6 - 2025 | doi: 10.3389/frsus.2025.1514393
Financial literacy and environmental sustainability: a cross-country test
Provisionally accepted
Raufhon Salahodjaev 1*
Avazbek Sadikov 2- 1 Westminster International University in Tashkent, Tashkent, Uzbekistan
- 2 National University of Uzbekistan, Tashkent, Tashkent, Uzbekistan
This study empirically investigates the relationship between financial literacy and environmental sustainability by using a sample of more than 1301 countries over the period 2000-2024 proxied by two multidimensional variables: the Environmental Performance Index (EPI) and the Notre Dame Global Adaptation Index (ND Gain). Our results suggest that financial literacy has a positive relationship with both measures of environmental sustainability, even after accounting for democracy and globalization, and economic growth. To confirm credibility, we conducted a series of tests by including additional controls and removing influential data points from the sample. We also confirm that GDP per capita has a non-linear relationship with environmental outcomes. Our research provides novel cross-country evidence of the relationship between financial literacy and climate change mitigation.
Keywords: financial literacy, environmental degradation, sustainability, cross-country отформатировано: Цвет шрифта: Текст отформатировано: Цвет шрифта: Текст отформатировано: Цвет шрифта: Текст 1, выделение цветом отформатировано: Цвет шрифта: Текст отформатировано: Шрифт: 11 пт отформатировано: Шрифт: 11 пт, английский
Received: 20 Oct 2024; Accepted: 27 Feb 2025.
Copyright: © 2025 Salahodjaev and Sadikov. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY). The use, distribution or reproduction in other forums is permitted, provided the original author(s) or licensor are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.
* Correspondence:
Raufhon Salahodjaev, Westminster International University in Tashkent, Tashkent, 100047, Uzbekistan
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