Environmental Regulations and CO 2 Mitigation for Sustainability: Panel Data Analysis (PMG, CCEMG) for BRICS Nations

Muddassar Sarfraz, Larisa Ivascu and Lucian-Ionel Cioca
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Larisa Ivascu: Management Department, Faculty of Management in Production and Transportation, Politehnica University of Timisoara, 300191 Timisoara, Romania
Lucian-Ionel Cioca: Department of Industrial Engineering and Management, Faculty of Engineering, Lucian Blaga University of Sibiu, 550024 Sibiu, Romania

Sustainability, 2021, vol. 14, issue 1, 1-14

Abstract: The relationship between income and pollution is contested, yet wealth alone is insufficient to regulate emissions, which necessitates environmental regulations. Even if inadequate environmental laws may overcome market failures produced by pollution’s negative externality, a thorough examination of their function in pollution management is critical. This research takes a step forward in offering a fresh viewpoint on the function of environmental laws in pollution reduction for BRICS (Brazil, Russia, India, China, and South Africa) nations to better understand the role of environmental regulations in CO 2 emission mitigation. The research presented here uses panel data econometric methodologies to achieve this goal, using data from 1995 to 2018. In addition, to provide country-specific findings, the research employs a completely modified ordinary least squares estimator. Environmental laws provide a beneficial influence in reducing carbon emissions. According to the empirical findings, the present environmental regulation positively meets pollution reduction objectives in chosen nations. The environment Kuznets curve (EKC) between pollution and income is controlled by environmental restrictions. Climate change mitigation in BRICS nations is driven by strong environmental policies and economic growth.

Keywords: BRICS; CO 2 emissions; environmental regulations; international trade; CO 2 mitigation; CCEMG; PMG-ARDL; CPIS unit root test (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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