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Clean and green environment along with sustainable development is the prime objective of every state. We explore empirically the nexus between tourism, environmental pollution measured by carbon (CO2) emissions, population, trade, foreign direct investment (FDI) and economic growth in six countries from the Commonwealth of Independent States over 1995–2018. Traditional panel estimation technique is employed, where the Hausman test suggests fixed-effects over random effect estimator. We also employed the robust least squares (RLS) estimator to confirm the empirical estimates. Results show that a 1% increase in CO2 will attenuate the economic growth by 0.14% and that 1% raise in the tourism activities can boost growth by 0.04%. Both the fixed-effect and RLS estimates reveal that tourism, population growth and trade contribute significantly to economic growth, whereas CO2 adversely affect growth. The Granger causality test shows a two-way causality between economic growth and CO2 and between growth and trade. Empirical results also indicate a one-way causality between growth and FDI, population and FDI, population and CO2 along with population growth and tourism. These findings suggest that adopting effective policies that can expand trade, enhance FDI and promote the tourism sector with minimum environmental damage will ultimately accelerate sustainable economic development. [ABSTRACT FROM AUTHOR]

This study examines the impact of economic growth and foreign direct investment (FDI) on environmental degradation in 76 developing economies between 1991 and 2022, using various panel data models. Firstly, the environmental Kuznets curve hypothesis is supported, indicating that, as the economy expands, cleaner technologies and practices are adopted, resulting in lower carbon emissions. Secondly, FDI and carbon emissions are positively related, suggesting that investment type and regulatory frameworks must be considered carefully. This analysis underlines the impact of abundant natural resources on emissions and stresses the significance of diversification strategies and the transition to cleaner technologies. Thirdly, further analysis involving interaction effects indicates that environmental degradation increases when high economic growth, abundant resources, and substantial FDI occur simultaneously. These findings highlight the importance of devising context-specific strategies and policies to balance economic growth and environmental sustainability in developing economies. [Display omitted] • Study the impact of economic growth and FDI on environmental degradation. • Employ panel data from 76 developing economies between 1991 and 2022. • Use 2SLS regression, cross-sectional FGLS regression, and fixed-effects models. • The positive effect of FDI on carbon emissions is significant. • Environmental degradation increases when high economic growth, abundant resources, and substantial FDI occur simultaneously. [ABSTRACT FROM AUTHOR]

Introduction. This study aims to explore the impact of tourism along with some other regressors, namely labor force, official development assistance, local investment, and inflation rate on the economic growth rate of the developing country of Pakistan. Material and Methods. We used annual time series data over the period from 1980 to 2018 for empirical analysis. Based on the order of integration of data, we employed an Autoregressive Distributed Lag (ARDL) approach. Results. Empirical results vindicated a positive relationship between tourism and growth. The official development assistance and inflation rate have shown significantly negative impacts on the economic growth of Pakistan, whereas domestic investment has shown an insignificantly positive impact on the economic growth. Conclusions. The empirical findings exhibit that tourism plays a key role in the process of economic growth and development of Pakistan. The study recommends that the management authorities should implement appropriate policies to attract more tourists to improve economic growth of Pakistan. Furthermore, sincere efforts are required to ensure macroeconomic stability through controlling inflation, avoiding reception of foreign aid, and encouraging global investment. [ABSTRACT FROM AUTHOR]

The pivotal role of energy in the progression of economic growth cannot be overlooked. Given its importance to policymakers, the influence of energy use on economic growth is undeniably crucial and thus should be explored meticulously. This study empirically examines the impact of energy on economic growth within the production function framework of a panel of 10 developing Asian economies from 1990Q1 to 2014Q4. The pooled mean group, fully modified ordinary least squares, and dynamic ordinary least squares methods are implemented. Empirical results reveal that energy has a significant positive impact on economic growth, thereby suggesting that energy is an important factor of production in addition to human and physical capital. The implication of the finding suggests that all 10 Asian economies are energy dependent and thus can propel economic growth by sustaining energy supply, which can largely improve social welfare. [ABSTRACT FROM AUTHOR]

The broad objective of this study is to evaluate the effects of inequality and other explanatory variables, including inflation, foreign direct investment, human capital, and migrant workers' remittances, on economic growth using a panel of 13 Asia and the Pacific countries between 1996 and 2008. According to the results of the Hausman test, the random-effects model was preferred over the fixed-effects model in most of the equations. Empirical results reveal the significantly negative effect of inequality on economic growth. The empirical findings also suggest that the mitigation of inequality is indispensable for achieving inclusive development in the true sense. For this purpose, however, the implementation of fiscal policy option is a necessity, whereas persistent food security through agribusiness also should not be overlooked to achieve lower levels of inequality and enhance inclusive growth and development in the region. [ABSTRACT FROM AUTHOR]

This paper explores the causal relationship among electricity consumption, economic growth, financial development and CO 2 emissions for South Africa over the period 1971–2012. The Autoregressive Distributed Lag (ARDL) bounds test is used to test for the presence of cointegration, whereas the Toda and Yamamoto augmented Granger causality test is used for direction of causality. The results of ARDL-bounds test validate the existence of cointegration among the included variables. Further, the Toda and Yamamoto Granger causality test affirms that there is no causality between electricity consumption and economic growth. This signifies that neutrality hypothesis holds for South Africa during the period under the study. Additionally, there is a unidirectional causality running from CO 2 emissions to electricity consumption as well as a unidirectional causality running from financial development to CO 2 emissions. The empirical finding suggests that policy-makers should establish concrete plans to increase investment in the electricity sector to ensure reliability of supply. Moreover, policy-makers need to address the pressing environmental concern by tapping into the sizeable renewable energy potential of the country. Consequently, it will assist in promoting sustainable economic growth and development. [ABSTRACT FROM AUTHOR]

This study examines the impact of economic growth, corruption, health, and poverty on environmental degradation for three countries from ASEAN, namely Indonesia, Malaysia, and Thailand using annual data over the period of 1994-2014. The relationship between environmental degradation (pollution) by carbon dioxide (CO) emissions and economic growth is examined along with some other variables, namely health expenditure, poverty, agriculture value added growth, industrial value added growth, and corruption. The ordinary least squares (OLS) method is applied as an analytical technique for parameter estimation. The empirical results reveal that almost all variables are statistically significant at the 5% level of significance, whereby test rejects the null hypotheses of non-cointegration, indicating that all variables play an important role in affecting the environment across countries. Empirical results also indicate that economic growth has significant positive impact, while health expenditures show significantly negative impact on the environment. Corruption has significant positive effect on environment in the case of Malaysia; while in the case of Indonesia and Thailand, it has insignificant results. However, for the individual analysis across countries, the regression estimate suggests that economic growth has a significant positive relationship with environment for Indonesia, while it is found insignificantly negative and positive in the case of Malaysia and Thailand, respectively, during the period under the study. Empirical findings of the study suggest that policy-makers require to make technological-friendly environment sequentially to surmount unregulated pollution, steady population transfers from rural areas to urban areas are also important, and poverty alleviation and better health provision can also help to improve the environment. [ABSTRACT FROM AUTHOR]

The objective of the study is to empirically examine the effects of urbanization, energy consumption, and per capita GDP on CO2 emissions for all member countries from BRICS. Panel data over the period 1990-2014 and the STRIPAT model are used. After panel unit root tests, the method of fully modified Ordinary Least Squares (FMOLS) is applied as an analytical technique. Empirical results reveal that urbanization has a positive and significant relationship with CO2 emissions in all BRICS countries with the exception of Russia. Results also show that GDP per capita in cases of Brazil, Russia, and South Africa will help to mitigate CO2 emissions, while the results are opposite in the cases of India and China. Likewise, energy consumption is positively and significantly causing CO2 emissions in cases of Brazil, India, and China, whereas, it is helping to reduce CO2 emission in Russia, while energy consumption has no impact in the case of South Africa. The findings of the study suggest important policy implications. This study recommends introducing less pollution emission of transport, and constructing long-term and effective system in renewable energy development in order to mitigate side effects of urbanization on the environment. © 2016 American Institute of Chemical Engineers Environ Prog, 36: 523-531, 2017 [ABSTRACT FROM AUTHOR]

Sustainable economic growth needs to be the primary objective of every government, including developing Asian countries, to improve the social welfare of the people. Therefore, to achieve the desirable level of sustainable economic growth, environmental degradation must be controlled without lowering real growth and the well-being of the society. This study empirically investigates the impact of environmental degradation by CO 2 emissions on the economic growth of 11 Asian countries between 1990 and 2011. Based on the nature of the data, traditional panel estimation techniques encompassing fixed effects and random effects are employed, in which the results of Hausman's test and other tests show that the use of fixed effects is preferable over the random-effect estimator. Empirical results exhibit that environmental degradation has a significantly negative impact on economic growth. Empirical findings also suggest that environmental degradation should be regulated. Therefore, environmentally enlightened management policies for the decrease of CO 2 emissions and fuel consumption by transportation and industries need to be pursued by Asian countries. The adoption of safe carbon emission cut-back policies is a promising path to sustainable economic growth. [ABSTRACT FROM AUTHOR]

The basic objective of this study is to empirically estimate the Environmental Kuznets Curve ( EKC) hypothesis for four countries from low income, lower middle income, upper middle income and high income countries namely Tanzania, Guatemala, China and the USA, respectively. For the empirical investigation an econometric model consists of Carbon Dioxide (CO 2 ) emissions used a proxy for environmental degradation as a response variable, while, income, income square, energy consumption, urbanization growth rate, and trade openness are as regressors. Annual time series data covering the time period 1975–2014 are used for the empirical investigation. Results of Johansen co-integration test indicate that there exists one co-integrating relationship among the variables in the case of the USA and China, while in the case of Tanzania and Guatemala, there exist two co-integrating linkages. Similarly, the Pearson correlation result among the five variables shows that energy consumption has a significant positive relationship with trade openness and CO 2 emissions in Tanzania, the USA, Guatemala and China, whereas, a significant negative relationship with economic growth in all these countries has been observed. The empirical results also reveal that in the case of Tanzania and China, trade openness has a significant positive relationship with environmental degradation, while in case of the USA and Guatemala, the correlation with urbanization growth rate is found significant with a negative sign. The ordinary least square result supports an EKC hypothesis for low and lower middle income countries. However, the study fails to find any support for the validity of an EKC hypothesis for upper middle income and high income countries during the period under the study. [ABSTRACT FROM AUTHOR]

This study aims to investigate the causal nexus between energy consumption and economic growth for 119 countries from all over the world having at-least 30 years of available data on candidate variables, including 30 high income OECD, 13 high income non-OECD, 65 middle income and 11 low income countries. The study employs Granger-causality in the frequency domain context for empirical analysis, which allows one to examine the causal nexus over different frequencies and thus provides relatively a better picture of the causal nexus between the candidate variables. In particular, we examine the temporary (short-run) as well as at permanent (long-run) causal nexus between energy consumption and economic growth. The empirical results suggest that 18 countries (including 5 high income OECD, 2 high income Non-OECD, 10 middle income and 1 low income) confirm the existence of feedback hypothesis, 25 countries (including 4 high income OECD, 3 high income non-OECD, 14 middle income and 4 low income) confirm growth hypothesis out of total 119 countries. Similarly, 40 countries (including 6 high income OECD, 6 high income non-OECD, 27 middle income and 1 low income) suggest conservation hypothesis, while, 36 countries (comprising of 15 high income OECD, 2 high income non-OECD, 14 middle income and 5 low income) hold neutrality hypothesis between energy consumption and economic growth out of 119 countries. The findings of the study suggest that an appropriate and effective public policy is required for all sample countries both in the short and long-term, while considering sustainable economic growth and development. [ABSTRACT FROM AUTHOR]

The main purpose of this work is to analyze the impact of environmental degradation proxied by CO emissions per capita along with some other explanatory variables namely energy use, trade, and human capital on economic growth in selected higher CO emissions economies namely China, the USA, India, and Japan. For empirical analysis, annual data over the period spanning between 1971 and 2013 are used. After using relevant and suitable tests for checking data properties, the panel fully modified ordinary least squares (FMOLS) method is employed as an analytical technique for parameter estimation. The panel group FMOLS results reveal that almost all variables are statistically significant, whereby test rejects the null hypotheses of non cointegration, demonstrating that all variables play an important role in affecting the economic growth role across countries. Where two regressors namely CO emissions and energy use show significantly negative impacts on economic growth, for trade and human capital, they tend to show the significantly positive impact on economic growth. However, for the individual analysis across countries, the panel estimate suggests that CO emissions have a significant positive relationship with economic growth for China, Japan, and the USA, while it is found significantly negative in case of India. The empirical findings of the study suggest that appropriate and prudent policies are required in order to control pollution emerging from areas other than liquefied fuel consumption. The ultimate impact of shrinking pollution will help in supporting sustainable economic growth and maturation as well as largely improve society welfare. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to examine the macroeconomic impact of migrant workers’ remittances on economic growth in four developing Asian countries namely: Bangladesh, India, Pakistan and Sri Lanka. Design/methodology/approach – This study utilizes annual time series data over the period 1976-2012 and the ordinary least squares as an analytical technique for parameters estimation. Findings – Empirical results support the existence of a significant positive relationship between migrant workers remittances and economic growth. The other control variables such as foreign direct investment, openness to trade and infrastructure are also found to be statistically significant with expected signs. Practical implications – The findings of this study are expected to guide policy makers in formulating the right and relevant policies through which migrant workers’ remittances can be made more productive and its benefits for both migrants and the country of origin are maximized. Consequently, it will foster economic growth and development. Originality/value – This paper provides some valuable evidences on the significance of migrant workers remittances as a source of economic growth. Moreover, the study differs from the erstwhile studies in terms of control variables, time period and method of estimation. Finally, the empirical results established are relatively robust. [ABSTRACT FROM AUTHOR]

The objective of this study is to examine the causal relationship between energy consumption and economic growth for ASEAN-5 countries which includes Indonesia, Malaysia, Thailand, Singapore, and the Philippines. For empirical examination annual time series data in the period of 1980–2012 are used. The results of Johansen co-integration test reveal that there exists one co-integrating relationship among the variables in case of Indonesia, Malaysia, the Philippines and Singapore. The results uncover the existence of two co-integrating associations among the variables for Thailand. The Granger causality test suggests that there is no unilateral causality for Indonesia as in all the three cases. In case of Malaysia the economic growth caused energy consumption, however, no evidence is found for causality either from exports or from gross fixed capital formation to energy consumption. While, in the cases of Thailand and the Philippines the direction of causality runs from gross fixed capital formation to energy consumption. For Singapore, energy consumption runs from two sides i.e. one from exports side and the other from gross fixed capital formation side. The findings exhibit that energy consumption has significant and long run relationship to economic growth for almost all ASEAN-5 countries. The findings suggest that policy makers need to formulate policies conducive to the energy development which will consequently accelerate sustainable economic growth in ASEAN countries. Energy development should be based on the existing condition of each country. A comprehensive investment framework for renewable energy should also be developed besides maintaining adequate energy inventory. The ASEAN countries should strengthen their institutions and capacity as well as cooperation in energy management and development. [ABSTRACT FROM AUTHOR]

The broad objective of the present study is to investigate empirically the impact of inward foreign capital flow along with some other explanatory variables namely gross capital formation, trade and human capital on economic growth using a balanced panel data spanning from 1977-2013 for 10 African countries. The Hausman's test suggests the use of randomeffects model is preferable to fixed-effects model. The panel data estimates reveal that role of foreign capital inflows in the forms of FDI inflows and remittance are growth encouraging, whereas, the role of external debt is growth discouraging for African countries. In the same way, gross capital formation and human capital are positively related to economic growth. The empirical findings of the study suggest that policy makers should formulate a healthy and conducive business environment that stimulates both foreign and domestic investors in the host countries. Along with intensive and sincere efforts are also required to develop human capacity through sufficient educational funding across all levels and countries. [ABSTRACT FROM AUTHOR]

Abstract Purpose -- The purpose of this paper is to validate the Endogenous Growth Model by examining the impacts of Human Capital (HK) and Foreign Direct Investment (FDI) on economic growth in ten countries from Commonwealth of Independent States (CIS). Design/methodology/approach -- For empirical investigation, a linear regression model based on growth theory and panel data set covering the time-period from 1993 to 2011 are used. Fixed and random effects models are applied. On the basis of the Hausman test, the fixed effects model has been preferred over the random effects model. Findings -- The results support the hypothesis of the study by confirming that HK development is critical for economic growth. Similarly, FDI has been found to have a facilitating role in promoting growth in the former Soviet Republics now comprising Central Asian independent economies. This is despite of the fact that there are country-specific differences across CIS. Practical implications -- The findings suggest that investment climate in the host countries must be enriched through suitable policies. Improved domestic conditions not only enhance the performance of multinational corporations but also allow host economies to reap greater benefits of FDI inflows. Moreover, the findings demonstrate that investment in both education and health are indispensable. Therefore, improved levels of education and health should be the primary objective running concurrently with other factors in order to stimulate economic growth. Originality/value -- The choice of CIS has been made because very little research has been found for the region particularly in the area of economic growth despite strong evidence of commonality in terms of landlocked geographical layout and economic and political structures of these economies. The region has gained importance gradually after independence of these states; and it has started to attract foreign funds in the shape of FDI only recently. Thus, there is a need to evaluate the future prospects pertaining to the importance of FDI and HK on growth performance of these economies and will insistently contribute to the literature. [ABSTRACT FROM AUTHOR]

Even after more than sixty years of foreign aid flows of US$ 88325 million from various countries aimed to boost economic growth, still every third Pakistani lives below the poverty line. This study used the Error Correction Model (ECM) to revisit whether foreign aid contributed to economic growth in Pakistan over the period 1972 through 2012. Empirical results support the existence of a significant negative relationship between foreign aid and economic growth. The study makes a valuable addition to the body of literature on the impact of foreign aid on economic growth. The results are expected to guide policymakers with regards to the impact of foreign aid flows on Pakistan economic growth and development. [ABSTRACT FROM AUTHOR]

A close positive relationship between expansion in exports of a country and economic development has been observed by a good number of researchers theoretically as well empirically. The aim of this research is to investigate empirically the impacts of exports and foreign direct investment (hereafter FDI) on economic growth in Pakistan. Empirical results show positive significant impacts of exports and FDI on economic growth. Thus, findings of this study suggest that policy makers need to generate appropriate policy in order to increase the volume of exports and augment FDI inflows. [ABSTRACT FROM AUTHOR]

This study reinvestigates the presence of environmental Kuznets curve (EKC) in the context of Malaysia over the period of 1971–2012. For this purpose, the impact of real GDP per capita, financial development, trade openness, foreign direct investments, and energy consumption on Carbon Dioxide (CO 2 ) emissions is empirically examined within the EKC framework. The study employed the Autoregressive Distribute Lagged (ARDL) bound test to investigate the long-run relationship between the study variables. For robustness, the study conjointly applied the Dynamic Ordinary Least Square (DOLS) method. The Granger causality test is exercised to test the causal relationship among the variables for both short and long-run. Empirical results of ARDL bound test approach suggest the presence of EKC hypothesis for Malaysia. The Granger causality test results indicate that energy consumption and carbon emissions have a bidirectional relationship, while other variables uni-directionally cause the CO 2 emissions. Whereas, in the short-run, there is no bidirectional causality between the variables while uni-directional causalities run from trade openness and FDI towards economic growth, financial development, and CO 2 emissions. The unidirectional causality from other variables towards CO 2 emissions supports the evidence of the environmental Kuznets curve hypothesis as this appears in the countries where the EKC is validated. [ABSTRACT FROM AUTHOR]

Objective of the present study is the empirical analyses of the impacts of exports on economic growth of selected countries in Central Asia i.e., Kazakhstan, Uzbekistan and Turkmenistan. For analysis secondary data ranging from 1998 to 2008, obtained from World Development Indicator (various issues) and International Financial Statistics (various issues) are used. Simple linear regression model and ordinary least squares (OLS) technique have been used for empirically estimation of the impacts of exports on economic growth. During the study period, the impacts of exports on economic growth have been found statistically significant. However, the magnitudes of impacts of exports on economic growth for Uzbekistan and Turkmenistan have been found comparatively high than Kazakhstan. Thus, the outcomes of this study recommend that the policy makers of each country incorporated in this study needs to expand level of exports in order to improve socio-economic development. [ABSTRACT FROM AUTHOR]