Does sustainable environmental agenda matter in the era of globalization? The relationship among financial development, energy consumption, and sustainable environmental-economic growth

Cao, XingHua; Kannaiah, Desti; Ye, Longtao; Khan, Jamal; Shabbir, Malik Shahzad; Bilal, Kanwal; Tabash, Mosab I.

Does sustainable environmental agenda matter in the era of globalization? The relationship among financial development, energy consumption, and sustainable environmental-economic growth

2022

The purpose of this research is to explore the connection of financial development, sustainable environmental-economic growth, and energy consumption among the South Asian Nations. This research examines a combine influence on energy consumption, financial development on sustainable environmental economic growth regarding south Asian economies. This study has used autoregressive distributive lag (ARDL) and panel data set from World Development Indicators (WDI) start from 1980 to 2018. The findings of this study indicate a significant and positive effect of financial development toward economic growth of selected south Asian economies. However, energy consumption has also positive impact toward sustainable environmental-economic growth, which further leads toward sustainable environmental agenda progress. Finally, energy consumption results have positive effect on sustainable economic growth among mean group (MG), pooled mean group (PMG), and common correlated effect mean group (CMEMG) results.

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