MACROECONOMIC MODELLING TOWARDS ACHIEVING SUSTAINABLE DEVELOPMENT GOAL-13 IN INDIA

Aqib Mujtaba (), Pravakar Sahoo () and Chinmaya Behera ()
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Aqib Mujtaba: Akal University Talwandi Sabo, Bathinda-151302, Punjab, India
Pravakar Sahoo: University of Delhi Enclave, New Delhi and NITI Aayog, India
Chinmaya Behera: Shri Mata Vaishno Devi University Katra, Jammu and Kashmir

Bulletin of Monetary Economics and Banking, 2025, vol. 28, issue Spesial Issue, 11-40

Abstract: This study develops a macroeconomic model to examine the relationships between the energy sector, economic growth and the environment in India over the period 1971 to 2021. Aligning with the United Nations SDG-13 and using the Seemingly Unrelated Regression Equation (SURE) model, we find that the services and agriculture sectors, non-renewable energy consumption, government expenditure, money supply, carbon dioxide emissions per capita, inflation, and population are crucial factors. The services sector and government spending notably impact economic growth and environmental degradation due to increased energy demand and emissions.

Keywords: SDG-13; SURE model; Environmental efficiency; Climate change (search for similar items in EconPapers)
JEL-codes: C15 O13 Q56 (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:idn:journl:v:28:y:2025:i:spd:p:11-40

DOI: 10.59091/2460-9196.2377

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