Abstract
The agricultural sector plays a great role in the economy of several countries and their economic sustainability is also majorly dependent on the agricultural performance of the country. There are various aspects related to agriculture sector that might have the impact on economic sustainability in one way or the other. In continuation of this issue, the researcher has conducted this study so that the impact casted by climate change, agricultural growth, and food production on the economic sustainability of the ASEAN countries can be studied effectively. For this research, the researcher has gathered relevant data from six ASEAN countries i.e. Brunei, Cambodia, Indonesia, Laos, Thailand, and Philippines. The period for which the data has been collected comprises of 29 years. For analysis of this data, the researcher has applied tests such as panel unit root test, panel cointegration test, AMG estimation and panel casualty test and has obtained the desired results. The results make it clear that the independent variables i.e. climate change, agricultural growth and food production have significant impact on economic sustainability for most of the selected ASEAN countries. Moreover, various variables have also shown unidirectional and bidirectional casualty among them.
Highlights
The sustainability issue has its foundation in both the fields of science and economics (Guest, 2010)
As far as the overall results are concerned, it is clear from the table that as the climate change changes by one percent, the economic sustainability will change by 27.7% overall
Agricultural growth and food production are having unidirectional casualty running from food production to agricultural growth
Summary
The sustainability issue has its foundation in both the fields of science and economics (Guest, 2010). The drastic climate change around the globe has caused a rise in the temperatures and is the leading cause of droughts, heat waves, floods, storms and higher carbon emission in the atmosphere (Agovino, Casaccia, Ciommi, Ferrara, & Marchesano, 2019). These changes and the increase in the demand for the food and other agricultural products have posed major challenge for achieving the objective of economic sustainability (Gliessman, 2014; Maleksaeidi & Karami, 2013). The vulnerability of the countries for the changes in the climate, the associated production of the food and other agricultural products make it viable for these countries to adapt to the strategies that can help them cope with these issues and achieve economic sustainability (Ahmed, Thompson, & Glaser, 2019). (See Table 1)
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