Navigating sustainable development: exploring the environmental Kuznets curve in the SAARC region with global stochastic trends
The intricate relationship between environment, globalization, and tourism has sparked captivating debates among researchers. Current work aims to explore the combined effects GDP, GDP squre(Kuznets curve) globalization, tourism development and financial development on carbon dioxide (CO 2 ) emissio...
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| Veröffentlicht in: | Environment, development and sustainability development and sustainability, 2024-12, Vol.26 (12), p.31489-31510 |
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| creator | Awan, Abdul Majid Saleem, Sardar Fawad Khan, Saqib |
| description | The intricate relationship between environment, globalization, and tourism has sparked captivating debates among researchers. Current work aims to explore the combined effects GDP, GDP squre(Kuznets curve) globalization, tourism development and financial development on carbon dioxide (CO
2
) emissions. In particular, the validity of the environmental Kuznets curve hypothesis within the SAARC region during 1995–2022 is investigated. To discern the long-term relationship between the variables, advanced estimators, namely continuous-updated fully modified and continuously updated and bias-corrected models, are employed. Findings indicate that globalization and tourism development contribute to increased emissions, while financial development helps in mitigating carbon emissions. It is emphasized that comprehensive changes encompassing economic, social, and political aspects are imperative to effectively curb emissions in the South Asian Association for Regional Cooperation (SAARC) region. Policy makers should give careful attention to regional trade patterns, and the decision-makers of the SAARC countries are suggested to establish robust governmental and statutory frameworks to support sustainable tourism development. Furthermore, fostering financial development, particularly in the financial and private sectors, holds potential for addressing environmental degradation effectively.
Graphical abstract |
| doi_str_mv | 10.1007/s10668-024-04505-9 |
| format | Article |
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2
) emissions. In particular, the validity of the environmental Kuznets curve hypothesis within the SAARC region during 1995–2022 is investigated. To discern the long-term relationship between the variables, advanced estimators, namely continuous-updated fully modified and continuously updated and bias-corrected models, are employed. Findings indicate that globalization and tourism development contribute to increased emissions, while financial development helps in mitigating carbon emissions. It is emphasized that comprehensive changes encompassing economic, social, and political aspects are imperative to effectively curb emissions in the South Asian Association for Regional Cooperation (SAARC) region. Policy makers should give careful attention to regional trade patterns, and the decision-makers of the SAARC countries are suggested to establish robust governmental and statutory frameworks to support sustainable tourism development. Furthermore, fostering financial development, particularly in the financial and private sectors, holds potential for addressing environmental degradation effectively.
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2
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| subjects | carbon Carbon dioxide Cooperation Decision makers decision making Earth and Environmental Science Ecology Economic Geology Economic Growth ecotourism Emissions Environment Environmental degradation Environmental Economics Environmental Kuznets curve Environmental Management GDP Globalization Gross Domestic Product issues and policy Kuznets curve Policy making Political factors politics Regional development Sustainability Sustainable Development Sustainable tourism Tourism Tourism development trade |
| title | Navigating sustainable development: exploring the environmental Kuznets curve in the SAARC region with global stochastic trends |
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