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Energy, Forests and Environmental Sustainability: A Comparative Analysis of Developed and Developing Economies

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  • Muhammad Ghulam Shabeer
  • Farhat Rasul

Abstract

The use of fossil fuels is essential for economic growth, but it also creates environmental hazards that cause 5 million people to die every year. The use of renewable energy is limited because of financial constraints, and there is a need to find ways to decouple fossil fuel consumption and pollution. This study provides a way forward by introducing forest as a moderator. This study has taken data from all countries of the world from 2011 to 2021 and estimated the impact of forests, energy consumption, forest-energy moderator, population, and gross fixed capital formation on the environment. Leveraging the Feasible Generalized Least Squares (FGLS) estimation technique to address heterogeneity and outliers, the study reveals that while the effects of forests and energy consumption align, population density and gross fixed capital formation exert disparate influences on the environment in developing and developed nations. The incorporation of forests as a moderator emerges as a consistently effective measure.

Suggested Citation

  • Muhammad Ghulam Shabeer & Farhat Rasul, 2024. "Energy, Forests and Environmental Sustainability: A Comparative Analysis of Developed and Developing Economies," Journal of Economic Impact, Science Impact Publishers, vol. 6(1), pages 14-20.
    • Handle: RePEc:adx:journl:v:6:y:2024:i:1:p:14-20
    DOI: 10.52223/econimpact.2024.6102
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    References listed on IDEAS

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    Cited by:

    1. Muhammad Ghulam Shabeer & Abdul Wahab Khan & Zahid Iqbal & Muhammad Salahuddin Ayyubi, 2024. "A Study of Pakistan’s Fiscal Landscape: Examining the Influence of Institutional Quality and Tax Policy Transformation," Journal of Economic Impact, Science Impact Publishers, vol. 6(1), pages 106-114.
    2. Muhammad Ghulam Shabeer & Ms. Azra & Ayesha Anwar & Rabia Zubair, 2024. "Unlocking Pakistan's Debt Conundrum: A Deep Dive into the Dynamics of Debt Servicing and External Debt Stock," Journal of Economic Impact, Science Impact Publishers, vol. 6(2), pages 125-130.

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