TY - JOUR
T1 - Investigation of environmental Kuznets curve for ecological footprint
T2 - the role of energy and financial development
AU - Destek, Mehmet Akif
AU - Sarkodie, Samuel Asumadu
PY - 2019/2/10
Y1 - 2019/2/10
N2 - Climate change has become a global phenomenon due to its threat to sustainable development. However, economic development plays a complementary role in both climate change and sustainability. Thus, the environmental Kuznets curve hypothesis is critical to climate change policy formulation and development strategies. Accordingly, this study examined the validity of environmental Kuznets curve hypothesis by investigating the relationship between economic growth, energy consumption, financial development, and ecological footprint for the period from 1977 to 2013 in 11 newly industrialized countries. For this purpose, the study employed both augmented mean group (AMG) estimator and heterogeneous panel causality method which are suitable for dependent and heterogeneous panels. The results of the estimator show that there is an inverted U-shaped relationship between economic growth and ecological footprint. According to the causality test results, it is concluded that there is bi-directional causality between economic growth and ecological footprint.
AB - Climate change has become a global phenomenon due to its threat to sustainable development. However, economic development plays a complementary role in both climate change and sustainability. Thus, the environmental Kuznets curve hypothesis is critical to climate change policy formulation and development strategies. Accordingly, this study examined the validity of environmental Kuznets curve hypothesis by investigating the relationship between economic growth, energy consumption, financial development, and ecological footprint for the period from 1977 to 2013 in 11 newly industrialized countries. For this purpose, the study employed both augmented mean group (AMG) estimator and heterogeneous panel causality method which are suitable for dependent and heterogeneous panels. The results of the estimator show that there is an inverted U-shaped relationship between economic growth and ecological footprint. According to the causality test results, it is concluded that there is bi-directional causality between economic growth and ecological footprint.
KW - Dependency
KW - Ecological footprint
KW - Economic growth
KW - Energy consumption
KW - Heterogeneity
UR - http://www.scopus.com/inward/record.url?scp=85054301802&partnerID=8YFLogxK
U2 - 10.1016/j.scitotenv.2018.10.017
DO - 10.1016/j.scitotenv.2018.10.017
M3 - Article
C2 - 30293003
AN - SCOPUS:85054301802
SN - 0048-9697
VL - 650
SP - 2483
EP - 2489
JO - Science of the Total Environment
JF - Science of the Total Environment
IS - 2
ER -