The Role of Energy Consumption, Economic Growth and Globalization in Environmental Degradation: Empirical Evidence from the BRICS Region
Habib Ur Rahman,
Umer Zaman and
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Habib Ur Rahman: Holmes Institute, Gold Coast, QLD 4217, Australia
Umer Zaman: Endicott College of International Studies (ECIS), Woosong University, Daejeon 34606, Korea
Sustainability, 2021, vol. 13, issue 4, 1-16
This paper examines the effect of energy consumption, globalization, and economic growth on the CO 2 emission of the BRICS (Brazil, Russian Federation, India, China and South Africa) region. Using annual data from 1989 to 2019, this research applies a panel cointegration approach. In this framework, we use Fully Modified Ordinary Least Squares (FMOLS) and Dynamic Ordinary Least Squares (DOLS) methods to examine the long-run relationship between the selected variables. This empirical investigation reveals that there is a long-run association between these variables, and energy consumption positively and significantly affects the carbon emission in these countries. These results indicate that energy consumption is the primary source of environmental degradation in the region. In contrast, the globalization (KOF Index of Globalization) negatively and significantly affects the carbon emission, implying the improvement of environmental quality. Further, this research could not find the presence of environmental Kuznets curve in the region. Policy guidelines are suggested in the line of findings.
Keywords: energy consumption; economic growth; globalization; CO 2 emission; FMOLS and DOLS (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:13:y:2021:i:4:p:1924-:d:497430
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