Does Sustainable 'Economic Development Path' Pair With 'Climatic Mortification': Testimony from BRIC and Other Developing Nations.

The environmental or economic policy does not yet recognise climate change as the key policy agendas in most of the developing countries. The available evidence shows that some of the most undesirable impacts of climate change will surface in developing countries, where people are most susceptible with low adaptation to impact the potential for progress in these countries. Global warming is acclaimed as one of the major threats. Ever increasing emissions indicate the immediate attention to act to shift from the current energy consumption path of economic development. EKC hypothesis proposes the "inverted-U" shaped association between per capita GDP and climate depletion. Several literatures have already put forth the positive linkage between the expanding economic activity and environment deterioration so far. But there is a gap of one amalgamated study in existing literature to establish the sustainable growth pairing with climate impact using the EKC graphical analysis and empirically by using OLS-GMM technique for BRIC and other developing nations. This study therefore examines the impact of economic development factors (Output, Energy usage, Direct Foreign Investment) on carbon emissions across BRIC economies and other developing nations, graphically using EKC hypotheses and empirically using GMM. Panel data over period 1991 to 2011 is used. The results validates that economic growth factors are elements of environmental quality in BRIC and developing economies. In addition, the robustness check through the graphical EKC trend doesn't alter our main findings. The paper indicates the relevance of making climate change policies as mainstream goal for global governance through increased carbon spacing. [ABSTRACT FROM AUTHOR]