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Environmental degradation and economic growth: Investigating linkages and potential pathways
Energy Economics ( IF 12.8 ) Pub Date : 2023-05-16 , DOI: 10.1016/j.eneco.2023.106734
Alex O. Acheampong, Eric Evans Osei Opoku

Concerns about the incessant rise in emissions and their attendant effects on climate change, which is ravaging the globe, are on the ascendency. The literature has almost concluded that economic activities and growth contribute significantly to environmental degradation. Despite the plethora of studies on the effect of economic growth on environmental degradation, empirical studies examining the reverse – i.e., how environmental degradation affects economic growth – are limited. However, the associated literature postulates that attaining economic growth is accompanied by increased environmental degradation. To guide the development of non-conflicting environmental and structural policies, this study examines whether the rise in environmental degradation is associated with economic growth. It also examines the potential channels through which environmental degradation could affect economic growth. Using a global panel comprising 140 countries from 1980 to 2021 and the two-step dynamic system-generalized method of moment technique to control endogeneity, the findings generally indicate a retarding effect of environmental degradation on economic growth. Further analysis, however, reveals that emissions exhibit an inverted U-shaped relationship with economic growth. However, ecological footprint indicators of environmental degradation have a U-shaped relationship with economic growth. Pathway analysis highlighted that health, foreign direct investment, and technological innovation are the potential channels through which environmental degradation could retard economic growth. The policy implications are discussed.



中文翻译:

环境退化和经济增长:调查联系和潜在途径

对排放量不断增加及其对席卷全球的气候变化的随之而来的影响的担忧正在上升。文献几乎得出结论,经济活动和增长对环境退化有重大贡献。尽管关于经济增长对环境退化的影响的研究过多,但检验相反情况(即环境退化如何影响经济增长)的实证研究是有限的。然而,相关文献假设实现经济增长伴随着环境退化加剧。为了指导制定不冲突的环境和结构政策,本研究考察了环境退化的加剧是否与经济增长有关。它还研究了环境退化可能影响经济增长的潜在渠道。使用由 140 个国家/地区从 1980 年到 2021 年组成的全球面板和矩技术的两步动态系统广义方法来控制内生性,研究结果普遍表明环境退化对经济增长具有延缓作用。但进一步分析表明,排放量与经济增长呈倒U型关系。然而,环境退化的生态足迹指标与经济增长呈U型关系。路径分析强调,健康、外国直接投资和技术创新是环境退化可能阻碍经济增长的潜在渠道。讨论了政策影响。

更新日期:2023-05-16
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