Unexplored Nexus of Political freedom, Economic Growth, Economic conditions and CO2 emission in Asian Country

Abstract

The promotion of sustainable environmental development is at the forefront of world leaders' policy agendas. The human race is currently confronted with a formidable challenge in the form of a global environmental issue. In each nation, political institutions are responsible for formulating and implementing policy agendas. This study's objective is to examine the relationship between the current state of political institutions, environmental emissions, and development indicators, taking into account the impact of diverse economic conditions such as a free economy, a fluctuating economy, a degraded economy, and an improved economy. Over the course of twenty-four years, from 1998 to 2021, information for this study was collected from ten different ASEAN nations. The panel data methodology is utilized in order to answer the research question. Estimates that account for fixed effects indicate that there is a significant positive correlation between economic growth and CO2 emissions. It is also evident that CO2 emission levels are higher in Asian economies that are more volatile, such as Indonesia and Thailand, while they are lower in economies that have improved, such as Singapore. This is one of the earliest studies conducted on the subject at hand. This study's findings will serve as a guide for implementing environmental policy.