Does globalization augment environmental degradation through the channel energy and FDI? Evidence from BRI initiatives

Abstract

From 2000 through 2020, this study examines the impacts of FDI, economic development, and globalization on E.D. in a sample of Belt and Road Initiative (BRI) nations. Data for the inquiry is gathered using a variety of tests, including the Westerlund cointegration test, the Dynamic seemingly unrelated regression (DSUR) long-run panel estimate approach, and the Dumitrescu-Hurlin panel causality test. Panel unit root tests reveal which variables are hidden where and after initial difference and long-run association documents have been processed using conventional and error-correcting methods. DSUR discovered a positive relationship between long-term energy use and environmental degradation, implying that greater energy consumption and total output would exacerbate the current condition of environmental degradation. Foreign direct investment (FDI), financial expansion, and globalization benefit the global economy more than harm the environment. Aside from the unidirectional impacts of financial development, globalization, and economic expansion on environmental degradation, directional causality studies demonstrate the presence of a feedback hypothesis that helps to explain these causal relationships. This research demonstrates the need for Belt and Road (B.R.) energy measures to improve energy efficiency.

Nexus between financial developments, renewable energy consumption and environmental sustainability in Bangladesh: Evidence from ARDL and NARDL

“…In the long and short term, the ARDL (NARDL) financial development coefficient was positive and statistically significant at a1%, indicating that monetary expansion promotes environmental deterioration in Bangladesh. Our results are consistent with prior research (9,(94)(95)(96)(97). It is known that increasing economies place a greater burden on the natural environment, as shown by the study results.…”

Nexus between financial development and carbon emission in Bangladesh: Evidence from ARLD and NARD

“…The coefficient of ARDL (NARDL) 's financial development was positive and statistically significant at a1% in the long and short run, suggesting financial growth fosters environmental degradation in Bangladesh. Our findings align with existing literature, such as (66)(67)(68)(69)(70). Study findings postulate that It's common knowledge that expanding economies put more strain on the natural world.…”

Urbanization, trade openness, and industrialization as a determent of clean energy consumption: Evidence from BRI nations

“…In addition, the literature scrutinizes the environmental implications of urbanization-induced shifts in energy consumption patterns, elucidating both the challenges and opportunities inherent in the quest for sustainable urban energy transitions. It underscores the imperative of holistic approaches that harmonize urban planning, energy policy, and environmental conservation goals to navigate the complex nexus between urbanization and renewable energy consumption effectively [10,19,[39][40][41][42][43][44]-overall, weaving together diverse strands of research to illuminate the intricate dynamics underpinning the relationship between urbanization and renewable energy consumption. It underscores the imperative of adopting integrated, multidisciplinary approaches to address the challenges and harness the transformative potential of renewable energy in fostering sustainable urban futures.…”

“…On the other hand, the technical impact emphasizes how commerce can facilitate the transfer of innovative technology and practices to enhance energy efficiency and promote the adoption of renewable energy sources. In addition, the impact of composition emphasizes the importance of resource allocation and traded commodities in supporting or hindering renewable energy use [45][46][47][48][49][50][51][52][53]. Moreover, recent research has delved into the intricate relationship among trade liberalization, institutional quality, economic development, and environmental aspects like renewable energy usage and carbon emissions.…”