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Revisiting the impacts of globalization, renewable energy consumption, and economic growth on environmental quality in South Asia

Author

Listed:
  • Waheed Ali

    (Department of Management Sciences, SZABIST Larkana, Larkana, Pakistan)

  • Raheel Gohar

    (College of Business Administration, Al Yamamah University, Riyadh, Saudi Arabia)

  • Bisharat Hussain Chang

    (Department of Business Administration, Sukkur IBA University, Sukkur, Pakistan)

  • Wing-Keung Wong

    (Department of Finance, Fintech & Blockchain Research Center, and Big Data Research Center, Asia University, Taiwan)

Abstract

Purpose: This study empirically analyzes the impact of globalization, renewable energy consumption, and economic growth on environmental quality in five South Asian developing economies. For this purpose, we used a panel data from 1990 to 2014 for the mentioned countries and employed latest econometric techniques for the empirical analysis. Study design/methodology/approach: We perform a cross-sectional dependency (CD) test and employ a second-generation panel unit root (CIPS and CADF) tests. Further, in this study, we conduct different panel cointegration tests. Finally, we estimate the long-run association between dependent and independent variables by using both Fully Modified-OLS (FMOLS) and Dynamic-OLS (DOLS). Findings: The study’s empirical results confirm that both globalization and economic growth increase CO2 emissions in South Asian developing economies. On the other hand, renewable energy consumption significantly improves environmental quality. Moreover, this study also confirms that these countries have an inverted U-shaped environmental Kuznets curve (EKC). Originality/value: The outcomes of this study provide the important policy implications for the governments of South Asian countries for sustainable development in the region.

Suggested Citation

  • Waheed Ali & Raheel Gohar & Bisharat Hussain Chang & Wing-Keung Wong, 2022. "Revisiting the impacts of globalization, renewable energy consumption, and economic growth on environmental quality in South Asia," Advances in Decision Sciences, Asia University, Taiwan, vol. 26(3), pages 75-98, September.
    • Handle: RePEc:aag:wpaper:v:26:y:2022:i:3:p:75-98
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    Citations

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    Cited by:

    1. Feng, Jie & Gao, Junhong, 2023. "Natural resource curse hypothesis and governance: Understanding the role of rule of law and political risk in the context of China," Resources Policy, Elsevier, vol. 85(PB).
    2. Ze, Fu & Wong, Wing-Keung & Alhasan, Tariq kamal & Al Shraah, Ata & Ali, Anis & Muda, Iskandar, 2023. "Economic development, natural resource utilization, GHG emissions and sustainable development: A case study of China," Resources Policy, Elsevier, vol. 83(C).
    3. Dong, Yangzi & Wong, Wing-Keung & Muda, Iskandar & Cong, Phan The & Duong Hoang, Anh & Ghardallou, Wafa & Ha, Ngo Ngan, 2023. "Do natural resources utilization and economic development reduce greenhouse gas emissions through consuming renewable and Clean Technology? A case study of China towards sustainable development goals," Resources Policy, Elsevier, vol. 85(PB).
    4. Xiaohui GONG & Bisharat Hussain CHANG & Xi CHEN & Kaiyang ZHONG, 2023. "Asymmetric Effects of Exchange Rates on Energy Demand in E7 Countries: New Evidence from Multiple Thresholds Nonlinear ARDL Model," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 125-142, June.
    5. Wei, Xuecheng & Hu, Weihua, 2023. "Revisiting resources curse hypothesis in China: Exploring the asymmetric effect of green investment and green innovation," Resources Policy, Elsevier, vol. 85(PB).
    6. Zhang, Mingming & Wong, Wing-Keung & Kim Oanh, Thai Thi & Muda, Iskandar & Islam, Saiful & Hishan, Sanil S. & Abduvaxitovna, Shamansurova Zilola, 2023. "Regulating environmental pollution through natural resources and technology innovation: Revisiting the environment Kuznet curve in China through quantile-based ARDL estimations," Resources Policy, Elsevier, vol. 85(PA).
    7. Wang, Xiang & Yin, Jian & Yang, Yao & Muda, Iskandar & Abduvaxitovna, Shamansurova Zilola & AlWadi, Belal Mahmoud & Castillo-Picon, Jorge & Abdul-Samad, Zulkiflee, 2023. "Relationship between the resource curse, Forest management and sustainable development and the importance of R&D Projects," Resources Policy, Elsevier, vol. 85(PA).
    8. Wang, Feipeng & Wong, Wing-Keung & Wang, Zheng & Albasher, Gadah & Alsultan, Nouf & Fatemah, Ambreen, 2023. "Emerging pathways to sustainable economic development: An interdisciplinary exploration of resource efficiency, technological innovation, and ecosystem resilience in resource-rich regions," Resources Policy, Elsevier, vol. 85(PA).

    More about this item

    Keywords

    Globalization; Renewable energy consumption; Economic growth; Environmental quality; Sustainable development; South Asia;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • F6 - International Economics - - Economic Impacts of Globalization

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