Is it possible to protect the environment while aiming at economic growth, one of the most critical factors in increasing the welfare of societies and individuals, and financial development, which is also essential for economic growth? Our study addresses this question for the example of Azerbaijan, using the ARDL bound test with structural breaks over the period from 1996 to 2017. Our study aims to contribute to the growing literature body investigating the relationship between economics and the environment by: (i) using ecological footprint as an indicator in the examination of the effect of financial development and economic growth on the environment, (ii) investigating the relationship between the related variables with the structural break econometric method that can produce results that vary over time, (iii) carrying out the study for Azerbaijan. While the study results showed an inverted U-shaped environmental Kuznets curve between economic growth and ecological footprint, it was concluded that financial development also reduced the ecological footprint. When evaluated in this context, it is emphasized that while targeting economic and financial development, public authorities, financial institutions, producers, and individuals should act with a pro-environmental consciousness in the production, consumption, and decision-making processes.

是否有可能在保护环境的同时实现经济增长（增加社会和个人福利的最关键因素之一）和金融发展（这对经济增长也必不可少）？我们的研究以阿塞拜疆为例，在 1996 年至 2017 年期间使用具有结构性断裂的 ARDL 约束测试来解决这个问题。我们的研究旨在通过以下方式为越来越多的研究经济与环境之间关系的文献机构做出贡献：（i）以生态足迹为指标考察金融发展和经济增长对环境的影响，（ii）用结构断裂计量经济学方法研究相关变量之间的关系，该方法可以产生随时间变化的结果，(iii) 为阿塞拜疆开展研究。虽然研究结果显示经济增长和生态足迹之间存在倒 U 型环境库兹涅茨曲线，但得出的结论是金融发展也减少了生态足迹。在此背景下进行评估时，强调在以经济和金融发展为目标的同时，公共当局、金融机构、生产者和个人在生产、消费和决策过程中应具有环保意识。