Pattern of Carbon Dioxide Emission, Economic Growth and Energy Consumption in South-Asian Countries: An Empirical Analysis

Abstract

The main aim of this chapter is to analyse the pattern of environmental pollution as represented by per capita carbon dioxide emission (PCCO2), per capita gross domestic product (PCGDP) and per capita energy consumption (PCEC) and their nexus in case of South-Asian countries for the time period 1991–2014. Econometric tools such as panel co-integration and fully modified ordinary least squares have been used to study the relations. A positive significant relationship has been observed between PCGDP and PCCO2 emission. In addition, an increase in PCEC also has a positively significant impact on PCCO2 emission. Therefore, the governments of all the countries need to come together and take steps to curb the rising carbon emission since neither the problem nor the responsibility is restricted to one country alone. There is a need for countries to increase the consumption of renewable energy and explore alternate options that are fewer dependents on coal or any other fossil fuel. On priority, economies in South-Asian region should focus on sustainable economic activities by balancing growth of economy with clean environment.