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Globalization and Sustainable Development: Empirical Evidence from CIS Countries

Author

Listed:
  • Oruj Gasimli

    (Department of Economics and Management, Azerbaijan University, 71 Jeyhun Hajibeyli St. Nasimi District, Baku AZ 1007, Azerbaijan)

  • Ihtisham ul Haq

    (Department of Economics, Kohat University of Science and Technology, Kohat 26000, Pakistan)

  • Shahid Munir

    (Department of Economics, Kohat University of Science and Technology, Kohat 26000, Pakistan)

  • Muhammad Hasnain Khalid

    (Department of Economics, University of Haripur, Haripur 22620, Pakistan)

  • Sisira Kumara Naradda Gamage

    (Department of Economics, Faculty of Social Sciences and Humanities, Rajarata University of Sri Lanka, Mihintale 50300, Sri Lanka)

  • Alam Khan

    (Department of Economics, Kohat University of Science and Technology, Kohat 26000, Pakistan)

  • Muhammad Ishtiaq

    (School of Economics and Management, Beijing University of Technology, Beijing 100124, China)

Abstract

Sustainable development is the ultimate objective of the nations around the world, and the adoption of development strategies is the driving force for obtaining long-run economic growth, environmental protection and social inclusion. On other hand, globalization integrates the countries around the globe economically, politically and socially. Thus, it is vital to conduct a study on the impact of globalization on sustainable development in Commonwealth of Independent States (CIS) countries, as most of the countries are in a transition state from socialism to capitalism and are opening their doors to the world. Globalization comprises three main components, which are economic, political and social. Henceforth, this study investigates the effect of economic globalization, political globalization and social globalization on sustainable development. Energy has been highlighted in the literature and received attention from researchers as a factor of income and environmental quality; thus, it is added as a control variable in this study. The long-run relationships among variables are established through panel cointegration once the order of integration is determined. This study finds a positive and significant effect of economic globalization and political globalization on sustainable development, whereas energy consumption is deteriorating in CIS countries. Policy implications are recommended.

Suggested Citation

  • Oruj Gasimli & Ihtisham ul Haq & Shahid Munir & Muhammad Hasnain Khalid & Sisira Kumara Naradda Gamage & Alam Khan & Muhammad Ishtiaq, 2022. "Globalization and Sustainable Development: Empirical Evidence from CIS Countries," Sustainability, MDPI, vol. 14(22), pages 1-15, November.
    • Handle: RePEc:gam:jsusta:v:14:y:2022:i:22:p:14684-:d:966300
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