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Do Better Institutional Arrangements Lead to Environmental Sustainability: Evidence from India

Author

Listed:
  • Ishfaq Hamid

    (Mudra Institute of Communication (MICA), Ahmedabad 380058, India)

  • Mohammed Ahmar Uddin

    (Department of Finance and Economics, College of Commerce and Business Administration, Dhofar University, Salalah P.O. Box 2509, Oman)

  • Iqbal Thonse Hawaldar

    (Department of Accounting & Finance, College of Business Administration, Kingdom University, Riffa P.O. Box 40434, Bahrain)

  • Md Shabbir Alam

    (Department of Economics and Finance, College of Business Administration, University of Bahrain, Sakhir P.O. Box 32038, Bahrain)

  • D. P. Priyadarshi Joshi

    (School of Economics, Gangadhar Meher University, Sambalpur 209205, India)

  • Pabitra Kumar Jena

    (School of Economics, Shri Mata Vaishno Devi University, Katra 182301, India)

Abstract

The efficient planning, execution, and management of institutional frameworks for climate change adaptation are essential to sustainable development. India, in particular, is known to be disproportionately vulnerable to the consequences of climate change. This study examines the effects of environmental taxes, corruption, urbanization, economic growth, ecological risks, and renewable energy sources on CO 2 emissions in India from 1978 to 2018. Therefore, the ARDL model is used to draw inferences, and Pairwise Granger causality is also applied to demonstrate a cause-and-effect relationship. The empirical results show that corruption, environmental dangers, GDP, and urbanization positively influence India’s carbon emissions. However, the results of short-run elasticities show that carbon emissions reduce ecological sustainability. Environmental hazards and costs, like other countries, impact India’s carbon emissions. Therefore, decision-makers in India should set up strict environmental regulations and anti-corruption measures to combat unfair practice that distorts competition laws and policies. In addition, the government concentrates more on energy efficiency policies that diminish carbon emissions without hampering economic growth in the country.

Suggested Citation

  • Ishfaq Hamid & Mohammed Ahmar Uddin & Iqbal Thonse Hawaldar & Md Shabbir Alam & D. P. Priyadarshi Joshi & Pabitra Kumar Jena, 2023. "Do Better Institutional Arrangements Lead to Environmental Sustainability: Evidence from India," Sustainability, MDPI, vol. 15(3), pages 1-19, January.
    • Handle: RePEc:gam:jsusta:v:15:y:2023:i:3:p:2237-:d:1046578
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