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Revisiting the impacts of globalization, renewable energy consumption, and economic growth on environmental quality in South Asia

Author

Listed:
  • Waheed Ali

    (Department of Management Sciences, SZABIST Larkana, Larkana, Pakistan)

  • Raheel Gohar

    (College of Business Administration, Al Yamamah University, Riyadh, Saudi Arabia)

  • Bisharat Hussain Chang

    (Department of Business Administration, Sukkur IBA University, Sukkur, Pakistan)

  • Wing-Keung Wong

    (Department of Finance, Fintech & Blockchain Research Center, and Big Data Research Center, Asia University, Taiwan)

Abstract

Purpose: This study empirically analyzes the impact of globalization, renewable energy consumption, and economic growth on environmental quality in five South Asian developing economies. For this purpose, we used a panel data from 1990 to 2014 for the mentioned countries and employed latest econometric techniques for the empirical analysis. Study design/methodology/approach: We perform a cross-sectional dependency (CD) test and employ a second-generation panel unit root (CIPS and CADF) tests. Further, in this study, we conduct different panel cointegration tests. Finally, we estimate the long-run association between dependent and independent variables by using both Fully Modified-OLS (FMOLS) and Dynamic-OLS (DOLS). Findings: The study’s empirical results confirm that both globalization and economic growth increase CO2 emissions in South Asian developing economies. On the other hand, renewable energy consumption significantly improves environmental quality. Moreover, this study also confirms that these countries have an inverted U-shaped environmental Kuznets curve (EKC). Originality/value: The outcomes of this study provide the important policy implications for the governments of South Asian countries for sustainable development in the region.

Suggested Citation

  • Waheed Ali & Raheel Gohar & Bisharat Hussain Chang & Wing-Keung Wong, 2022. "Revisiting the impacts of globalization, renewable energy consumption, and economic growth on environmental quality in South Asia," Advances in Decision Sciences, Asia University, Taiwan, vol. 26(3), pages 75-98, September.
    • Handle: RePEc:aag:wpaper:v:26:y:2022:i:3:p:75-98
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    More about this item

    Keywords

    Globalization; Renewable energy consumption; Economic growth; Environmental quality; Sustainable development; South Asia;
    All these keywords.

    JEL classification:

    • Q01 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - General - - - Sustainable Development
    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q56 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Environmental Economics - - - Environment and Development; Environment and Trade; Sustainability; Environmental Accounts and Accounting; Environmental Equity; Population Growth
    • F6 - International Economics - - Economic Impacts of Globalization

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