The nexus between economic growth, energy use, international trade and ecological footprints: the role of environmental regulations in N11 countries

Nathaniel, S and Murshed, M and Bassim, M (2021) The nexus between economic growth, energy use, international trade and ecological footprints: the role of environmental regulations in N11 countries. Energ. Ecol. Environ.. pp. 1-17. ISSN 2363-8338

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Official URL: https://link.springer.com/article/10.1007/s40974-0...

Abstract

Diversified human activities and inappropriate economic growth strategies have induced a trade-off between economic growth and environmental degradation worldwide. Consequently, the aggravating environmental concerns have warranted regulations to be enforced for safeguarding the welfare of the global environment. However, the effectiveness of such environmental regulations in reducing environmental deterioration has received equivocal empirical evidence in the literature. Against this backdrop, this study investigates the influence of environmental regulations on the ecological footprints in the context of the Next Eleven countries between 1990 and 2016. The results from the econometric analysis, controlling for cross-sectional dependency issues in the data, reveal that the existing environmental regulations legislated in the Next Eleven countries are ineffective in reducing the ecological footprints of these nations. Besides, greater energy consumption and openness to international trade are found to boost ecological footprints. Moreover, the Environmental Kuznets Curve hypothesis is also authenticated for the panel of the Next Eleven nations. The country-specific findings indicate that energy consumption anonymously degraded the environment in all the eleven nations, while heterogeneous impacts of environmental regulations, economic growth and international trade on the environment are ascertained. Hence, these findings, in a nutshell, recommend the Next Elevennations to strengthen and enforce the environmental regulations, adopt sustainable economic growth policies, reduce fossil fuel dependency and participate in sustainable trade to ensure environmental sustainability.

Item Type: Article
Additional Information: Accepted 22nd December 2020
Uncontrolled Keywords: Environmental regulations ; Ecological footprints ; Trade ; Energy consumption ; Economic growth ; AMG
Subjects: H Social Sciences > H Social Sciences (General)
H Social Sciences > HA Statistics
J Political Science > JA Political science (General)
Divisions: School of Humanities > Economics and International Studies
Depositing User: Mohga Bassim
Date Deposited: 20 Apr 2021 10:54
Last Modified: 20 Apr 2021 10:54
URI: http://bear.buckingham.ac.uk/id/eprint/505

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