Influence of Economic Growth, Energy Production, and Subcomponents on the Environment: A Regional Level Analytical Modeling

Syed Asif Ali Naqvi, Bilal Hussain, Ashfaq Ahmad Shah, Muhammad Atiq Ur Rehman Tariq () and Muhammad Usman
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Syed Asif Ali Naqvi: Department of Economics, Government College University, Faisalabad 38000, Pakistan
Bilal Hussain: Department of Economics, Government College University, Faisalabad 38000, Pakistan
Ashfaq Ahmad Shah: Research Center for Environment and Society, Hohai University, Nanjing 210098, China
Muhammad Atiq Ur Rehman Tariq: College of Engineering, IT & Environment, Charles Darwin University, Darwin, NT 0810, Australia
Muhammad Usman: Department of Economics, Government College University, Faisalabad 38000, Pakistan

Sustainability, 2022, vol. 14, issue 22, 1-22

Abstract: This study examines the long-term impact of energy production and economic growth on the environment using data on real GDP, energy production (and its subcomponents), carbon dioxide emissions, and real foreign trade. The datasets contain 99 countries that are classified into seven regions and analyzed by using MG, AMG, and CCEMG estimators. Estimates reflect that economic growth increases environmental pollution while foreign trade decreases it in all selected regions. In analyzing the conservation and neutrality hypotheses, we found that the conservation hypothesis was successfully verified for the global panel, Europe, and Africa, whereas the former was verified in North America, the Middle East, and the Asia Pacific regions. The study suggests focusing on renewable energy production policies to sustain the current growth pace.

Keywords: economic growth; CO 2 emissions; energy production; common correlated effects mean group (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2022
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