1. Growth vs. green: unpacking the economic–environmental dilemma in major carbon emitters with panel ARDL analysis
- Author
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Shikha Daga, Kiran Yadav, Vijay Lakshmi, and Pardeep Singh
- Subjects
Carbon emission ,Panel ARDL ,EKC ,Natural resource rent ,Technological innovation ,Environmental sciences ,GE1-350 - Abstract
Abstract Today's world is facing a criticalglobal challenge of rising temperatures and disrupted ecosystems, primarily driven by increased carbon emissions. The study aims to determine the major factors leading to carbon emissions in five major carbon-emitting countries: China, the United States, India, Russia, and Japan. Specifically, it explores the interplay between economic growth, natural resource rent (Natural Resource Rent: The economic benefit a country gains from its natural resources, such as oil or minerals, after subtracting the cost of extracting and using them), technological change, renewable energy use, and carbon emissions. The study postulates that economic growth and natural resource extraction bear a substantial interaction that contributes to carbon emissions. At the same time, technological change and the usage of renewable energy could probably become imperative to alleviate such emissions. This research, therefore, provides a good insight into the determinants of CO2 emissions in these key economies and the probable pathways toward emission reduction through innovation and harnessing of renewable sources of energy. Utilizing the comprehensive dataset between 1990 and 2021 and employing the ARDL [Panel ARDL (Autoregressive Distributed Lag): A statistical method used to analyze how different factors affect each other over time in a dataset that includes multiple subjects (e.g., countries)] model on the panel data, this study examines both the short- and long-term effects of these variables on carbon emissions, considering cross-country heterogeneity. The results underscore the significance related to guidelines for sustainable development practices and the necessity for these leading economies to lead the shift towards sustainability. By identifying factors that can mitigate emissions and enhance resilience, this research provides useful inputs to the policymakers who intend to promote renewable sources of energy usage along with technological upgrades. This study’s results contribute to the existing literature by making it a significant resource for future policy formulation and academic research in the field of mitigating climate change.
- Published
- 2024
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