Green Growth, Environmental Quality, Energy Consumption Nexus in OECD Countries

Uzma Ghafoor, Muhammad Ramzan Sheikh and Afsheen Baqir
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Uzma Ghafoor: M. Phil (Economics), National College of Business Administration and Economics, Multan, Pakistan
Muhammad Ramzan Sheikh: Professor of Economics, School of Economics, Bahauddin Zakariya University Multan, Pakistan
Afsheen Baqir: M. Phil (Economics), National College of Business Administration and Economics, Multan, Pakistan

Bulletin of Business and Economics (BBE), 2023, vol. 12, issue 4, 409-418

Abstract: Sustainable economic development is desirably terrible for improving social welfare. It implies that economic development should not be at the cost of environmental degradation, but rather environmental sustainability should be maintained. This study has examined the green growth, environmental quality, and energy consumption nexus in 38 OECD countries using panel data from 1991 to 2020. We have estimated two models. The first model explores the impact of green growth on environmental quality and the second model probes the link between non-green growth and environmental degradation. For this purpose, the ARDL technique has been used to estimate the results. Green growth has not followed the environmental Kuznut Curve theory while Non-Green growth has validated the environmental Kuznut Curve theory. Furthermore, Environmentally friendly technological innovation, renewable energy consumption, environmental-related tax, and human capital turn out with negative signs while foreign direct investment and trade openness are positively related to environmental degradation. The study also suggests policies to decarbonize or minimize the emissions in the economies.

Keywords: Green Growth; Non-Green Growth; Environmental related Tax; Renewable Energy Consumption; Panel-ARDL (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:rfh:bbejor:v:12:y:2023:i:4:p:409-418

DOI: 10.61506/01.00140

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