Renewable energy, economic globalization and foreign direct investment linkage for sustainable development in the E7 economies: revisiting the pollution haven hypothesis


Gyamfi B. A., Bein M. A., Udemba E. N., Bekun F. V.

International Social Science Journal, cilt.72, sa.243, ss.91-110, 2022 (Scopus) identifier

  • Yayın Türü: Makale / Editöre Mektup
  • Cilt numarası: 72 Sayı: 243
  • Basım Tarihi: 2022
  • Doi Numarası: 10.1111/issj.12301
  • Dergi Adı: International Social Science Journal
  • Derginin Tarandığı İndeksler: Scopus, Academic Search Premier, IBZ Online, International Bibliography of Social Sciences, Periodicals Index Online, American History and Life, EBSCO Education Source, EconLit, Education Abstracts, Educational research abstracts (ERA), Geobase, Historical Abstracts, Index Islamicus, MLA - Modern Language Association Database, PAIS International, Political Science Complete, Public Administration Abstracts, Public Affairs Index, Social services abstracts, Sociological abstracts, Worldwide Political Science Abstracts
  • Sayfa Sayıları: ss.91-110
  • İstanbul Gelişim Üniversitesi Adresli: Evet

Özet

© 2021 John Wiley & Sons Ltd.This present study is motivated by the United Nations Sustainable Development Goals (UN-SDGs) that concerns pertinent issues that comprises environmental sustainability (SDG-13), sustainable development (SGD-8), and responsible consumption (SDG-11), among others. To this end, this study examines the long-run and causality linkage between renewable and non-renewable energy, foreign direct investment, and economic globalisation in a carbon-income framework by use of both carbon dioxide emission and ecological footprint as a determinant for environmental degradation for E7 countries. Furthermore, a series of panel econometrics panel tests in conjunction with quantile regression is used to explore the relationship between the outlined variables for annual frequency data from 1990 to 2016. Empirical results trace a long-run equilibrium relationship among the highlighted variables as reported by Westerlund (2007). Additionally, this study gives credence and validates the pollution haven for the emerging (E7) countries examined, thus, implying the detrimental effect of foreign direct investment (FDI) on quality of environment in E7 economies. Interestingly, we observe that investment in renewable energy consumption will improve environmental quality. This outcome resonates with the advocacy of UN-SDGs-7, 11, 12, and 13, where emphasis is placed on responsible energy consumption (renewables), access to clean energy, and climate change mitigation. Conclusively, these revelations suggest the chase for adoption of low-carbon development technologies and strategies in E7 countries.