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Does Globalization, Tourism, Foreign Direct Investment, and Natural Resources Influencing Ecological Footprint?

Author

Listed:
  • Tanzeela YAQOOB

    (Department of Statistics, University of Karachi, University Road 75270, Pakistan)

  • Maria BABI

    (Department of Statistics, University of Karachi, University Road 75270, Pakistan)

  • Rimsha KHALID

    (Department of Statistics, University of Karachi, University Road 75270, Pakistan)

Abstract

The environmental problem has become a worldwide issue that must be frequently examined. Thus, this study investigates the relation of tourism, natural resources, globalization, and foreign direct investment on the ecological footprint of the USA, the UK, Pakistan, China, and India by using annual data from 1995 to 2020. The study applied Zivot and Andrews (1992) test to demonstrate the stationarity properties of the series, and an autoregressive distributed lag (ARDL) approach was employed to estimate the long-run and short-run dynamics. The long-run findings disclose that tourism has a significantly positive effect on China and Pakistan, but a significantly negative impact on India. The outcomes further suggest that foreign direct investment increases environmental degradation in India and China in both long and short periods, but contributes to improving the UK’s ecosystem. Besides, globalization in China tends to save its environment. Natural resources in the long run also harm the ecosystems of Pakistan, China, and the USA. The error correction term is negatively significant for all countries. The reliability of the model is investigated through diagnostic tests. The selected model is stable as the critical value of CUSUM and CUSUMSQ lie within the 5% significance level.

Suggested Citation

  • Tanzeela YAQOOB & Maria BABI & Rimsha KHALID, 2022. "Does Globalization, Tourism, Foreign Direct Investment, and Natural Resources Influencing Ecological Footprint?," Chinese Journal of Urban and Environmental Studies (CJUES), World Scientific Publishing Co. Pte. Ltd., vol. 10(03), pages 1-28, September.
    • Handle: RePEc:wsi:cjuesx:v:10:y:2022:i:03:n:s2345748122500178
    DOI: 10.1142/S2345748122500178
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    Cited by:

    1. Grzegorz Zimon & Dulal Chandra Pattak & Liton Chandra Voumik & Salma Akter & Funda Kaya & Robert Walasek & Konrad Kochański, 2023. "The Impact of Fossil Fuels, Renewable Energy, and Nuclear Energy on South Korea’s Environment Based on the STIRPAT Model: ARDL, FMOLS, and CCR Approaches," Energies, MDPI, vol. 16(17), pages 1-21, August.

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