Abstract
This research aimed to assess and implement the long- and short-run relationship of agriculture and environmental sustainability with control variables. Purposely, this research consolidated theoretical and conceptual principles to create a systematic structure in agriculture for the development of both sectors, i.e., agricultural and the environment. On this ground statement, this research was motivated to contemplate the relationship between carbon dioxide emission, agricultural production, gross domestic product, renewable energy consumption, and foreign direct investment using annual data series of Latin American and Caribbean countries from 1971 to 2018. Autoregressive distributed lag (ARDL) was used as an econometric methodology to examine the relationship among the variables. Agriculture is the most vulnerable sector in Latin American and Caribbean countries, and the economy is heavily dependent on it. The main results of this research indicated that agriculture and CO2 emissions were positively related to each other for the long and short run, which means that agricultural activities increased the CO2 emission levels. At the same time, the control variables showed mixed associations with environmental degradation as gross domestic product (GDP) was positively significant and renewable energy consumption was negatively significant. The error correction (ECt−1) term was negatively significant, confirming the long-run relationship and the speed of adjustment from short- to long-run equilibrium. Agricultural production and GDP led to increments in CO2 emissions, while renewable energy consumption negatively contributed to toxic emissions. The speed of adjustment in Latin American and Caribbean countries was nippy. It required 2.933 periods for the transformation from the short periodic phase to the long term. A comprehensive approach is the research debate rigorously and holistically based on divergent sectors of an economy and their relationship with environmental sustainability. The econometric method, symbolic system, and conceptual existence were designed originally.
Highlights
The Earth’s weather undergoes significant alterations as the world’s climate alters
Except for renewable energy consumption, all variables were integrated at first difference with a 1% significance level
The renewable energy consumption results were integrated at first difference under the stationarity tests and a level under the Phillips–Perron test at 1% significance level
Summary
An increase in carbon dioxide and other radioactive greenhouse gases in the atmosphere may cause substantial changes in the global climate, leading to devastating repercussions on the world’s ecosystems (Warrick, 1988). The amount of carbon dioxide produced in Latin America has increased. The climate is directly or indirectly affected by emissions of greenhouse gases, which in turn influence agricultural productivity cycles. Global warming and changes in climate are unquestionably affecting agricultural productivity. The atmospheric carbon dioxide rise, climate change, and related precipitation have a deleterious influence on agricultural growth and output. Carbon dioxide (CO2) levels in the atmosphere can immediately impact crops and have indirect effects via climate change. Extreme weather conditions, rising temperatures, and increasing CO2 levels may influence harvest yields. If the temperature is too hot, the crop’s yield will drop
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