Globalization, Environmental Kuznets Hypothesis, and COP Outcomes: Pathways to Sustainability for Developed and Developing Countries
Ayesha Naz and
Sammia Kousar
Additional contact information
Ayesha Naz: International Islamic University, Islamabad
Sammia Kousar: International Islamic University, Islamabad
Journal of Economic Sciences, 2024, vol. 3, issue 2, 121-136
Abstract:
Globalization, its dimensions, and the Environmental Kuznet Curve (EKC) in developed and developing countries are important in determining global environment sustainability in connection with COP. The role of globalization is analyzed in terms of emissions from 1991 to 2021 using a sample of 107 countries, estimated through Generalized Methods of Moments (GMM). The results show a U-shaped EKC in the full panel of 107 countries and 72 developing countries. However, in 35 developed economies, EKC is valid and shows the traditional inverted U-shaped curve, indicating the efforts of these countries towards sustainable development. Overall globalization differs in its impact in developed and developing countries in the case of developing countries it brings economic benefits but at the cost of environmental degradation while in developed countries it helps in reducing CO2 emissions. Additionally, globalization's economic and social dimension decreases emissions while political globalization increases environmental degradation in full panel and developing countries. Whereas, in 35 developed countries, only social globalization is significant in tackling the issues of the environment. These insights show that overall globalization and specifically, political globalization in developing countries is not effective in achieving the target of sustainability. Economies at early stages of growth need effective political agreements, moreover, collaborative efforts particularly from the developed world are the only solution for sustainability.
Keywords: Globalization; Carbon emissions; Environment; Growth (search for similar items in EconPapers)
JEL-codes: F6 F64 O47 (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:
Downloads: (external link)
https://jesciences.com/index.php/jes/article/view/82 (application/pdf)
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:azm:journl:v:4:y:2024:i:2:p:121-136
DOI: 10.55603/jes.v3i2.a1
Access Statistics for this article
More articles in Journal of Economic Sciences from Federal Urdu University Islamabad, Department of Economics
Bibliographic data for series maintained by Dr. Ihtsham Ul Haq ().