Introduction.
This study aims to explore the impact of tourism along with some other regressors, namely labor force, official development assistance, local investment, and inflation rate on the economic growth rate of the developing country of Pakistan.
Material and Methods.
We used annual time series data over the period from 1980 to 2018 for empirical analysis. Based on the order of integration of data, we employed an Autoregressive Distributed Lag (ARDL) approach.
Results.
Empirical results vindicated a positive relationship between tourism and growth. The official development assistance and inflation rate have shown significantly negative impacts on the economic growth of Pakistan, whereas domestic investment has shown an insignificantly positive impact on the economic growth.
Conclusions.
The empirical findings exhibit that tourism plays a key role in the process of economic growth and development of Pakistan. The study recommends that the management authorities should implement appropriate policies to attract more tourists to improve economic growth of Pakistan. Furthermore, sincere efforts are required to ensure macroeconomic stability through controlling inflation, avoiding reception of foreign aid, and encouraging global investment.
Universal environmental policies adopt strategies that enhance and encourage the production and usage of electric vehicles (EVs). Universal cooperation is evident in the framework of agreements or protocols so as to successfully lead countries towards the predetermined goals. The question is whether this trend can reduce global warming or CO2 emissions worldwide. By adopting game theory, this study analyses electricity carbon life cycle in leading EV countries. Results show that although the spread of EVs in Europe and the USA can mitigate carbon emissions, the production and use of electric vehicles in some countries, such as China and India, become a new source of such emissions. This reverse effect is due to the emission of greenhouse gases from electricity sources in these countries. Game theory also suggests that countries with unclean electricity sources should reconsider their plans to produce and use EVs. This study confirms that although carbon emission and global warming are global problems, regional and local policies can be substituted with a single comprehensive approach for an effective means of CO2 emission reduction.
Graphical abstract
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