Impact of natural resources and technology on economic development and sustainable environment – Analysis of resources-energy-growth-environment linkages in BRICS

Abstract

To examine the effects of technological advancements and natural resources in the energy-growth-environment nexus for a panel of BRICS (Brazil, Russia, India, China, and South Africa) economies over 1990–2022, we use the extended STIRPAT “(stochastic impact of regression on population, affluence, and technology)” model. Results obtained using the “Augmented Mean Group (AMG) and Fully Modified-Least Square (FM-LS) panel algorithms” show that technological advancements may lower CO2 emissions and boost economic development in the BRICS nations. Our calculations also confirm the classic “environmental Kuznets curve (EKC)” for the BRICS and, to a lesser extent, for other nations, and they support energy push emissions. Additionally, the empirical findings point to a one-way causal relationship between income and CO2; however, a two-way causal relationship between revenue and energy consumption and between the energy use and emissions of CO2in the BRICS and individual countries is also functional. The findings show that to attain energy security and a sustainable environment; governments may consider the role of innovations as a green supply of technology.