Green versus conventional growth in the EKC framework of top pollutant footprint countries: Evidence based on advanced panel data techniques

Abstract

Green growth has become the most credible solution to deal with the deterioration of the environment and excessive use of natural resources. Many studies have investigated the relationship between conventional economic growth and environmental degradation in Environmental Kuznets Curve (EKC) framework. However, in this analysis, we have investigated the EKC hypothesis by including green growth instead of conventional growth. Moreover, we have relied on the ecological footprint to represent environmental degradation in this analysis. Hence, the primary focus of the research is to investigate the association between green economic growth and ecological footprint in the EKC framework of top footprint economies for 1991–2017. The study employed the CS‐ARDL model and other advanced panel data techniques to estimate the model. The analysis confirmed the EKC hypothesis in top ecological footprint economies when we use conventional economic growth; however, the estimated coefficients of green growth and its square are negatively significant. The findings imply that green growth can help reduce the environmental burden, and renewable energy, eco‐innovations, and human capital also support the cause.

Emerging trends of carbon emissions and foreign direct investment: accounting for ecological footprints, renewable energy, globalization, and technological innovations in BRICS

“…All these processes require high-energy usage leading to an increase in the global carbon burden. In this way, the scale effect defines the impact of globalization on environmental pollution (Destek and Sarkodie 2019 ; Tanveer et al 2022 ; Usman et al 2023 ). According to the consumption impact, the state of industrial development and its dimensions in any country determines the magnitude and degree of impact globalization will likely cast on eco-sustainability (Zaidi et al 2019 ; Tanveer et al 2023 ).…”

Nexus of geoenvironment, resource management and regional sustainable development: Introduction

“…Thus, nations must limit economic expansion and encourage the corporate sector to invest and capitalize on eco‐friendly projects. In this regard, Usman et al (2023) explained the role of green growth by comparing it with conventional economic growth and mentioned that it could reduce the environmental burden and solve the deterioration of the environment and excessive use of the natural resources issue. In this regard, renewable energy, green innovation and human capital can be the supporting factors.…”