Economic growth, renewable energy consumption, and ecological footprint: Exploring the role of environmental regulations and democracy in sustainable development

Ahmed, Zahoor; Ahmad, Mahmood; Rjoub, Husam; Kalugina, Olga A.; Hussain, N.

doi:10.1002/sd.2251

Cited by 192 publications

(67 citation statements)

References 58 publications

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“…The outcomes reveal that the usage of renewable energy is beneficial in reducing the detrimental consequences of human actions and is a useful tool for achieving sustainable growth and the environment. This outcome complies with the studies of that relied on wavelets tools for the period from 1990Q1 to 2015Q4, Chien et al (2021) for Pakistan that employed QARDL for the period from 1980 to 2018, Soylu et al (2021) for China that utilized wavelets tools for the period from 1965 to 2019, and Ahmed et al (2021c) for G7 countries that used the CUP-FM method for the period from 1987 to 2017.…”

Section: Presentation Of Finding and Discussionsupporting

confidence: 82%

“…Previous studies suggest that not only economic growth but also other factors, such as economic complexity (Kirikkaleli & Adebayo, 2021a;Rjoub and Adebayo, 2021;Ahmad et al, 2021c;Doğan et al, 2021), renewable energy (Fareed et al, 2021;Chien et al, 2021;Kirikkaleli and Adebayo, 2021b;Soylu et al, 2021) globalization (Aslam et al, 2021;Anser et al, 2021;Chien et al, 2021) and others (An et al, 2019;Miao et al, 2019;Zhang et al, 2019;Mohammad et al, 2020;Alola et al, 2021;Ahmed et al, 2021c;Ramzan et al, 2021;Shan et al, 2021;Chen et al, 2019) can impact environmental deterioration. Meanwhile, the main driver of CO 2 emissions is economic growth or per capita income, since all other variables are directly and indirectly related to CO 2 emissions.…”

Section: Literature Reviewmentioning

confidence: 99%

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Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

Ramzan

Awosusi

et al. 2021

Front. Environ. Sci.

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The association between economic complexity (sophisticated economic structure) and carbon emissions has major implications for environmental sustainability. In addition, globalization can be an important tool for attaining environmental sustainability and it may also moderate the association between economic complexity and carbon emissions. Thus, this research examines the effects of economic complexity, economic growth, renewable energy, and globalization on CO2 emissions in the top 10 energy transition economies where renewable energy and globalization have greatly increased over the last 3 decades. Furthermore, this study also evaluates the joint effect of globalization and economic complexity on carbon emissions. Keeping in view the presence of slope heterogeneity and cross-sectional dependence in the data, this research utilized second-generation unit root tests (CIPS and CADF), Westerlund cointegration approach, and CS-ARDL and CCEMG long-run estimators over the period of 1990–2018. The results affirmed the presence of cointegration among the considered variable. Long-run findings revealed that globalization, renewable energy, and economic complexity decrease carbon emissions. Conversely, economic growth increases carbon emissions. Moreover, the joint impact of economic complexity and globalization stimulates environmental sustainability. Based on these findings, the government of these groups of economies should continue to expand the usage of renewable energy. They should also promote interaction with the rest of the world by adopting the policy of opening up.

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Section: Presentation Of Finding and Discussionsupporting

confidence: 82%

Section: Literature Reviewmentioning

confidence: 99%

Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

Ramzan

Awosusi

et al. 2021

Front. Environ. Sci.

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“…However, trade policy uncertainty did not affect CO 2 emissions. Ahmed et al [60] investigated G7 from 1985-2017 and found that environmental regulations and democracy helped reduce ecological footprints. However, income accelerated ecological footprints.…”

Section: Literature Reviewmentioning

confidence: 99%

The Fiscal and Monetary Policies and Environment in GCC Countries: Analysis of Territory and Consumption-Based CO2 Emissions

et al. 2022

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Expansionary monetary and fiscal policies are necessary for economic and environmental development. The present research studies the impact of monetary policy and fiscal policy on Territory-Based CO2 (TBC) and Consumption-Based CO2 (CBC) emissions in Gulf Cooperation Council (GCC) economies from 1990–2019. The cointegration is corroborated through various tests, and long-term relationships are found in both TBC and CBC models. Government expenditures have long-term positive effects on both TBC and CBC emissions and short-term positive effects on TBC emissions in the region. Money supply negatively affects the TBC and CBC emissions in the long run and positively affects TBC and CBC emissions in the short run. Hence, monetary policy needs a long time to have positive ecological effects in the GCC region. Moreover, fiscal policy in both the long and short run and monetary policy in the short run have scale effects in GCC economies. Therefore, we recommend reducing fiscal measures and encouraging monetary policy in the long run to have positive environmental outcomes in the region.

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“…The result of this study is in line with the findings of a number of studies such as Gupta et al (2019) who found that countries can attain sustainable development by enacting environmental regulations. Also, Ahmed et al (2021) found that economic growth enhances sustainable development by reducing the ecological footprint. Moreover, Xie et al (2018) in his study found that when carbon taxes are imposed it reduces the carbon emission, and strength is attained in China's domestically determined contribution position by 2030.…”

Section: Discussionmentioning

confidence: 99%

“…Whereas, environmental regulations cannot achieve environmental sustainability until it implemented effectively. Ahmed et al (2021) study examines the relationship between democracy, environmental regulations, economic growth, and ecological footprint (EF) in the panel of G7 nations from 1985 to 2017. The results show that economic growth enhances ecological footprint while environmental regulations and democracy positively contribute to ecological sustainability by reducing the ecological footprint.…”

Section: Literature Reviewmentioning

confidence: 99%

Impact of Carbon Taxes, Economic Growth, Globalization, Forest Rent, Inflation and Urbanization on Sustainable Development in China

Imam¹

2022

Int. J. Res. Granthaalayah

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The study’s objective was to investigate the impact of carbon taxes, economic growth, globalization, forest rent, inflation, and urbanization on sustainable development in China. The study has used secondary data from World Development Indicators and International Energy Association from 1992 to 2020. For data analysis, the study has employed panel unit root analysis, panel cointegration analysis, Hausman test, and random-effect OLS technique for data analysis. The results showed that forest rent was significantly related to sustainable development. Moreover, the natural logarithm of GDP has negative and urbanization has a positive impact on sustainable development. On the other hand, inflation has an insignificant but negative impact on sustainable development. Also, globalization and carbon taxes have a positive impact on sustainable development. The study concluded that higher carbon taxes have proved to be a boom for sustainable development solutions in China. The results indicated that with the slow and gradual increase in the level of carbon taxes, the emissions of carbon dioxide will be reduced to varying degrees. The study found that among the six variables, carbon taxes have the most significantly strong impact on sustainable development followed by globalization, forest rent, and urbanization whereas gross domestic product and inflation have a negatively significant impact on sustainable development.

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Economic growth, renewable energy consumption, and ecological footprint: Exploring the role of environmental regulations and democracy in sustainable development

Cited by 192 publications

References 58 publications

Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

Does Globalization Moderate the Effect of Economic Complexity on CO2 Emissions? Evidence From the Top 10 Energy Transition Economies

The Fiscal and Monetary Policies and Environment in GCC Countries: Analysis of Territory and Consumption-Based CO2 Emissions

Impact of Carbon Taxes, Economic Growth, Globalization, Forest Rent, Inflation and Urbanization on Sustainable Development in China

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