Spillover Effect Of Economic Growth Factors On Ecological Footprint For Asain Countries. New Evidence From Spatial Econometric Analysis
Ecological degradation is the enhancement of anthropogenic activities to achieve sustainable economic growth. Higher economic growth requires more energy, material, and infrastructure, leading to an ever-greater level of environmental degradation and the emission of dangerous gases. With the fluctuation in economic growth and the desire to attain a long-term high growth rate, every country provides a significant incentive for the industrial sector, the primary source of mitigating ecological footprint. Asian countries are highly vulnerable to climate change, and its impact is observed economically and socially. This study examines the impact of economic performance on the ecological footprint using a spatial econometric technique for 25 Asian countries from 1990 to 2017. The advantage of the spatial econometric technique is that it provides a way to test and accommodate various forms of dependence among countries. The Moran’s I test is used to check the spatial dependency. The results indicate positive spatial dependence, suggesting that highly polluted neighboring nations influence the home country’s environment. The results show that Environmental Kuznets Curve and Pollution Heaven Hypothesis hold in Asian countries. The results show that environmental degradation is positively related to energy consumption because energy is produced from fossil fuel, considered the primary emission source. Human capital has a positive and considerable impact on the ecological footprint. Environmental degradation is not a local issue. But it is a geographic issue and a challenge for world economies to mitigate its negative impact on livelihood, which requires international cooperation. This cooperation will help policymakers and environmental protection agencies to understand the importance of these issues and suggest solutions to different climate change scenarios. Last but not least, the investment and improvement in human capital mean an increase in the education level will help alleviate poverty and enhance awareness among people about environmental degradation. Supervisor:- Dr. Hafsa Hina
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