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Macroeconomic Modelling Towards Achieving Sustainable Development Goal-13 In India

Author

Listed:
  • 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)

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.

Suggested Citation

  • Aqib Mujtaba & Pravakar Sahoo & Chinmaya Behera, 2025. "Macroeconomic Modelling Towards Achieving Sustainable Development Goal-13 In India," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 28(Spesial I), pages 11-40, February.
    • Handle: RePEc:idn:journl:v:28:y:2025:i:spd:p:11-40
    DOI: https://doi.org/10.59091/2460-9196.2377
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    More about this item

    Keywords

    SDG-13; SURE model; Environmental efficiency; Climate change;
    All these keywords.

    JEL classification:

    • C15 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Statistical Simulation Methods: General
    • O13 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - Agriculture; Natural Resources; Environment; Other Primary Products
    • 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

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