This study aims to investigate the linkage among tourism, foreign direct investment, environmental degradation by CO2 emissions and economic growth in five countries from Association of Southeast Asian Nations (ASEAN) over 1995–2017. The outcomes of pooled mean group (PMG) estimator reveal that FDI and international tourism arrivals have a significantly positive influence on economic growth both in the short-run and the long-run. The association between growth and CO2 emissions is found negative and significant. The Granger causality result reveals that there is bidirectional causality between FDI and growth, tourism and growth and FDI and tourism. A unidirectional causal link is found between CO2 emissions and growth, tourism and population and population and CO2 emissions. These findings suggest enhance more inward FDI, control environmental pollution, but also necessary to attract more tourists towards these countries, which in turn, generate revenue and boost up economic growth and development.JEL Classification Codes: F21; O13; O47; Z32
The aim of this study is to investigate the effects of renewable energy consumption along with some other regressors namely income by gross domestic product (GDP) per capita, foreign remittances, inflation rate, growth in population on human development in eight Asian countries (Pakistan, Malaysia, Sri Lanka, India, China, Indonesia, Bangladesh, and Japan) from 1995 to 2018. Based on the nature of panel balanced data, we employed the fully modified ordinary least squares and fixed-effects estimators for the empirical investigation. The empirical estimates exhibit that renewable energy usage, foreign remittances and real per capita income have substantial positive impacts on human development. In contrast, inflation rate and growth in population have negative link with human development in the sample countries. Empirical estimates reveal that renewable energy usage positively contribute enhancing human development. These findings expose that the availability and accessibility of renewable energy will not only improve human development rather will also help in accomplishing sustainable development goals. Empirical findings suggest that the management authorities need to allocate more budget in investment in renewable energy schemes and also create environment which facilitate by providing incentives to the private sector also for renewable energy production in the Asian countries.
This study aims to investigate the linkage among tourism, foreign direct investment (FDI), environmental degradation by carbon dioxide (CO2) emissions and economic growth in five countries from Association of Southeast Asian Nations (ASEAN) over 1995–2018. The outcomes of pooled mean group (PMG) estimator reveal that inward FDI and international tourism arrivals have a significantly positive influence on economic growth both in the short-run and the long-run. The association between growth and CO2 emissions is found negative and significant. The Granger causality result reveals that there is bidirectional causality between FDI and growth, tourism, and growth and FDI and tourism. A unidirectional causal link is found between CO2 emissions and growth, tourism and population and population and CO2 emissions. These findings suggest enhance more inward FDI, control environmental pollution, but also necessary to attract more tourists towards these countries, which in turn, generate revenue and boost up economic growth and development.
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