Increase In GDP Research Articles

Approaches to evaluating the effectiveness of investments in higher education

Introduction. The role of the importance of higher education in the formation of human capital as a strategic resource of social progress and sustainable development of the country determines the relevance of studies that allow assessing the interdetermination of education and economic growth. The purpose of the article is to identify approaches to assessing the effectiveness of investments in higher education and modeling their impact on the economic growth of post-Soviet countries. Materials and methods. The methodological basis of the study is testing the author's hypothesis and econometric modeling of the influence of macroeconomic indicators characterizing the state of the higher education system on the resulting indicator of gross domestic product per capita as an indicator of economic growth according to data from 15 post-Soviet countries. Methods of economic analysis, statistical and econometric methods were used. For empirical analysis, we used statistical data from the Federal State Statistics Service of the Russian Federation, the World Bank, and the United Nations. Results. The research hypothesis about the positive impact of spending on higher education on the economic growth of the post-Soviet countries has been confirmed. The greatest response to GDP per capita is observed from the indicators "Spending on research and development" and "Admission of high school graduates to higher education". Prediction of the obtained models shows the possibility of a significant increase in GDP per capita with an increase in spending on higher education with a corresponding congruent development of the institutional environment of the post-Soviet countries. Taking into account the identified factors makes it possible to determine priorities for a balanced education and innovation policy in the post-Soviet countries. Conclusions. Empirically substantiated the need to increase investment in the higher education sector to accelerate economic growth and level economic inequality, which must be taken into account when implementing policies in the context of structural reforms in higher education in post-Soviet countries and determining the amount of investment in higher education.

Environmental Pollution and Economic Growth based on the Theory of Environmental Kuznets Curve (EKC) in Iran's Provinces (1997-2017)

Despite the fact that economic growth provides the basis for the progress of societies, it increases pollution and, as a result, destroys the environment and reduces the welfare of societies. On the other hand, preserving and protecting the environment is one of the most important pillars of achieving sustainable development. Regardless of the environmental issue, natural and human resources will be depleted and will have dire consequences on the planet and even in human societies. The environment is considered as a factor, which affects and is affected by both economic growth and sustainable development. In developing countries, overproduction and economic growth generally lead to environmental degradation. In this study, the effects of reverse U-shaped and N-shaped curve of GDP on the surface variable with power two and three on the pollutants emission volume is investigated. Also, nitrogen oxide, carbon monoxide, carbon dioxide, sulfur dioxide, sulfur trioxide using long-term panel econometric methods, including; panel unit root test, Kao co-integration test, FMOLS and DOLS for 30 provinces of the country over 1997-2017 were considered. As a result, estimates suggest that the environmental Kuznets assumptions are the same for all five pollutants, and as GDP increases, pollution first increases, then begins to decline after reaching the peak point, and finally continues to rise by increasing reproduction. In other words, the results of the estimates indicate the confirmation of the N-shaped relationship between the provinces of Iran.

Bayesian networks application to forecast the national economies development taking into account the water factor

The influence of this factor on the development of national economies is studied. This study uses the Bayesian network, which illustrates the interaction of indicators of water supply and water use and includes nodes that are formally represented as vectors. The most valuable result of the modelling is not the general forecast obtained with the help of the model, but the structure of the network itself, which allows to identify connections within the model and explain the reason for the emerging interdependencies. modelling using Bayesian networks confirmed the fact that there is a direct relationship between GDP and water consumption and drainage. The obtained results confirm the possibility of achieving an increase in the overall GDP of the country with an increase in the amount of water resources used for production needs. However, this should be implemented in combination with a simultaneous reduction in the volume of return (wastewater) discharged into surface water bodies.

The Expansion Dynamics and Modes of Impervious Surfaces in the Guangdong-Hong Kong-Macau Bay Area, China

Different urban growth patterns have various impact degrees on the urban ecosystem and environment. Impervious surface, a typical artificial construction can be used to reflect urban development. Therefore, this study estimated the spatiotemporal dynamics and expansion patterns of impervious surface area (ISA) in the Guangdong-Hong Kong-Macau (GHM) Bay Area since the establishment of the “Pearl River Delta economic zone” in 1994. Landsat time-series images were used to map the distribution of the ISA based on the combinational biophysical composition index (CBCI) and the bidirectional temporal filtering method (BTFM). The results indicated that the ISA in the GHM Bay Area drastically expanded from 569.23 km2 in 1994 to 10,200.53 km2 in 2016. In addition, the aggregation index (AI) value of the high-density area showed a decreasing trend from 1994 to 2004. However, the value of each landscape metric rapidly increased after 2004. Moreover, the mean ratio of the major axis to the minor axis of standard deviational ellipses from 1994 to 2004 was higher than that from 2005 to 2016. The results of landscape metrics and standard deviational ellipses indicated that the ISA growth pattern changed from edge expanding and leapfrogging to infilling and consolidation, with a turning point in 2004. Moreover, the principal sprawl orientation of the ISA was northwest to southeast before 2004. After 2004, the expansion direction of the ISA was less obvious due to the development pattern of infilling and consolidation. The rapid increase of GDP and population are the driving forces of urban expansion. However, topography and ecological protection policies as the limiting factors, which caused the infilling of the inner city and redevelopment of old urban areas.

Association between economic growth, mortality and healthcare spending in 31 high-income countries

Abstract Background During the last decades, countries' healthcare spending has grown continuously, becoming a major expenditure item and threatening the overall sustainability of healthcare systems. Plenty of literature shows conflicting evidence about the relationship between economic variations and measurable health outcomes. This study aims to investigate the association between GDP, population mortality and healthcare spending in OECD high-income countries. Methods We conducted a cross-sectional study using panel data across 31 high-income countries from 2000 to 2017. Socioeconomic data for every year and each country were extracted from WHO and OECD Database. The association between current healthcare expenditure (CHE), GDP and mortality rate (MR) was investigated through a random-effects model. To control for possible reverse causality, we adopted a test of Granger causality for heterogeneous panel data models. Results The results of the random-effects model show that the MR has no statistically significant effect on CHE. We found no statistically significant association between countries' MR and GDP when the latter is the dependent variable. Our results show that an increase in GDP is associated with a significant increase of CHE (b = 0.066, p < 0.001) and CHE is significantly associated with an increase in GDP (b = 3.188, p < 0.001). The Granger causality analysis shows a unidirectional association between MR and CHE, with MR influencing CHE, albeit with a small statistical significance (p = 0.045). Between GDP and CHE, the causality is bidirectional, while between GDP and MR we found no causality. Conclusions In this study, we found a strong two-way relationship between GDP and CHE, both in the causality analysis and in the random-effect panel model. Our analysis highlights the economic multiplier effect of CHE. In the debate on the optimal allocation of resources often resulting from economic crises, this evidence should be taken into due consideration. Key messages Policymakers worldwide need to recognize the economic impact of healthcare spending when allocating financial resources. Spending on health leads to economic growth. In light of the current health-economy dichotomy, it is important to produce robust scientific evidence supporting healthcare spending.

The Association between GDP and non-communicable disease mortality in the WHO European Region

Abstract Background The WHO Europe Region consists of 53 countries, each of which has differences in mortality from cardiovascular (CVD), neurological, and chronic respiratory diseases. Such diverse metrics result from political, social, and economic events that have influenced the health performance of each European sub-region. From a public health perspective, an updated analysis of such metrics is required for policymakers and health system organisations to improve the overall population health outcomes. Methods This study utilised data between 1990-2017 from the Global Burden of Disease study 2017 to explore the association between GDP and NCD mortality in Western, Central, and Eastern Europe and Central Asia. The mortality data was already stratified by age and sex, and a fixed effected regression analysis was run to observe associations between both variables using STATA. Data completeness was 80-100% for GDP and 100% for mortality across the European region. The final results were reported as a rate per 100,000, with confidence intervals. The rate changes were calculated using an equation from the GBD. Results The most significant decrease per 100,000 of the population across all three NCDs as GDP increased was in Central Asia and Eastern Europe among both sexes. For every 1000 unit increase in GDP, we expect -12.13 [-13.60, -10.66] and -14.49 [-16.89, -12.29] less deaths in CVD in females and males per 100,000 of population, respectively. Western Europe had the lowest decrease per 100,000 of the population, as with every 1000 unit increase in GDP, we expect -2.42 [-2.59, -2.25] and -4.09 [-4.33, -3.84] fewer deaths in CVD in females and males, respectively. Conclusions The overall differential rate of mortality from the three NCDs is decreasing across all regions. However, there is a large disparity between the sexes. Males have a higher mortality rate across CVD and chronic respiratory diseases, whilst neurological disorders were highest among females. Key messages This study’s analysis has added to existing knowledge on chronic health patterns in the WHO European region. Governments in Eastern Europe and Central Asia should introduce health policies targeting unhealthy consumption of alcohol, smoking and diets, as seen in Western Europe.

Is there a link between all-cause mortality and economic fluctuations?

Background: All-cause mortality is a global indicator of the overall health of the population, and its relation to the macro economy is thus of vital interest. The main aim was to estimate the short-term and the long-term impact of macroeconomic change on all-cause mortality. Variations in the unemployment rate were used as indicator of temporary fluctuations in the economy. Methods: We used time-series data for 21 OECD countries spanning the period 1960–2018. We used four outcomes: total mortality (0+), infant mortality (<1), mortality in the age-group 20–64, and old-age mortality (65+). Data on GDP/capita were obtained from the Maddison Project. Unemployment data (% unemployed in the work force) were sourced from Eurostat. We applied error correction modelling to estimate the short-term and the long-term impact of macroeconomic change on all-cause mortality. Results: We found that increases in unemployment were statistically significantly associated with decreases in all mortality outcomes except old-age mortality. Increases in GDP were associated with significant lowering long-term effects on mortality. Conclusions: Our findings, based on data from predominantly affluent countries, suggest that an increase in unemployment leads to a decrease in all-cause mortality. However, economic growth, as indicated by increased GDP, has a long-term protective health impact as indexed by lowered mortality.

Evolution of the Industrial Innovation Ecosystem of Resource-Based Cities (RBCs): A Case Study of Shanxi Province, China

Constructing and exploring the evolution mechanism of an industrial innovation ecosystem in resource-based cities (RBCs) is the most effective way to solve the contradiction between economic development, energy shortage, and environmental degradation. Taking 10 typical RBCs in Shanxi Province as examples, this paper used the method of system dynamics (SD) to build a model of the industrial innovation ecosystem of RBCs and set up scenarios to simulate and predict the evolution of the industrial innovation ecosystem of RBCs. The results showed that the industrial innovation ecosystem of RBCs is a complex system composed of four subsystems: innovation players, innovation content, innovation resources, and innovation environment. In innovation players, the increase in the amount of talent has a more obvious effect on technology level and GDP than R&amp;D funding. In innovation content, the improvement of management level has a slow and continuous positive impact on GDP. Technology achievements, once implemented, will improve GDP more than management progress does. In innovation resources, human capital has greater potential for an increase in GDP and per capita consumption expenditure. In innovation resources, technology level plays an important role in slowing down the deterioration of the ecological environment. This study enriched the theoretical paradigm of the research on the industrial innovation ecosystem, and provided effective strategies to solve the development problems of RBCs.

R&amp;D Expenditure as an Accelerator of Economic Growth with Special Reference to Developing Countries

Purpose: In this network age, among the other factors which increase economic growth, the R&amp;D activities, a pivotal and effective factor, carried out by a country. The present study attempts to investigate the empirical R&amp;D expenditure-economic growth nexus in developing and developed economies, and also provides useful insight about how R&amp;D investment works to enhance the economic growth of a country.&#x0D; Design/Methodology/Approach: In this regard, 21 years data of top 100 economies of the world from 1995 to 2015 has been utilized. The Panel ARD Model approach has been preferred to explore the impact of R&amp;D investment on economic growth (GDP). For construction of the estimation model, five different variables are used. In order to accomplish the results, along with analysing the data of 100 countries a whole, analysis has also been made by dividing countries into different categories and groups. Overall, the Panel ARDL test has been performed on nine different groups of countries.&#x0D; Findings: The results reveal that, ceteris paribus, there is a strong positive association between R&amp;D expenditure and economic growth (GDP) in the long-run; 1% increase in GERD leads to 0.07% increase in GDP. However, the impact in the developing countries (0.043%) is lower compared to the developed OECD countries (0.27%). No impact of the R&amp;D expenditure on economic growth is observed in the short-run.&#x0D; Implications/Originality/Value: The study presents some thought-provoking ideas, policy recommendations and implications for the policy makers, planners and researchers, especially in the context of developing economies.

The global politics of the renewable energy transition and the non-substitutability hypothesis: towards a ‘great transformation’?

This essay will investigate the question of how the renewable energy (RE) transition may reshape world politics. To date, most IPE scholars of the RE transition assume that renewables will simply substitute for fossil fuels and thereby continue similar patterns of economic growth and military competition that have characterized world politics over the past two centuries. However, they do not systematically consider what I call the ‘non-substitutability hypothesis,’ or the view that renewables will be unable to substitute for many of the services that fossil fuels provide for economies and militaries. In contrast, I will argue that if the non-substitutability hypothesis is correct, then a fully decarbonized global political economy would require a ‘Great Transformation,’ or a structural transformation in the political-economic and military bases of world order. In particular, I suggest that this would require two conjoined transitions: 1) a transition towards a ‘post-growth’ global political economy, or an economy that does not depend on continuous annual increases in GDP; and 2) a shift towards ‘demilitarization,’ in the sense of ‘leaner’ low-energy force structures; weakening pressure for military arms racing; and a transformation in national security priorities to focus on climate mitigation, adaptation, and disaster response.

The Effect of Investment, Exports, and Interest Rates on the Gross Domestic Product of the Republic Of Yemen: An Econometric Analysis

Purpose: The study aims to examine the effect of investment, exports, and interest rates on the gross domestic product of the Republic of Yemen. Approach/Methodology/Design: This study is based on secondary data. Data on the gross domestic product, interest rate, gross capital formation were obtained and analyzed using the autoregressive distributed lag (ARDL) technique, Wald test, Serial Correlation LM Test. The data were presented the Findings: The results through the use of the (E-VIEWS) program showed that there is a direct statistically significant relationship at a level of 5% between investment and gross domestic product. This means that if investment increases by 1%, it will lead to an increase in GDP by 28.63%. The result also showed that the dummy variable relationship to the GDP is direct and statistically significant. The level of significance is 5%, that is, by increasing the dummy variable by 1%, it leads to an increase in GDP by 25.13%. As long as the interest rate was on an inverse relationship and statistically significant at a significant level (10%), this means that an increase in interest rates by 1% would lead to a decrease in GDP rates by 19.54%. In addition, there is a positive relationship between exports and GDP and a statistical significance at level 5%. This means that an increase in exports by 1% leads to an increase in GDP by 69.76%. Practical Implications: The investment could be double more than what the results showed in the case of political and economic stability. Improving legislation is also a significant aspect. There is an urgent need to focus on investment in infrastructure. In addition, increasing exports improve the gross domestic product. Based on the results, it is recommended to real invest instead of placing capital in banks as increasing interest rates lead to lower gross domestic output. Originality/value: The analysis indicates that there is a direct statistical and significant relationship between total investment and gross domestic product at a significant level of 5%, as whenever the investment increased by 1%, this led to an increase in the gross domestic product by about 28.63%.

Political Instability, Civil War and Cost Efficiency of Banking Firms: A Case Study in Sri Lanka*

This paper investigates the effects of political instability resulting from successive regime changes and the 30‐year civil war on the cost efficiency of local banks in Sri Lanka. A translog cost function was used to estimate bank cost efficiency, and a multivariate regression model was used to investigate the determinants of bank cost inefficiency. On average, the cost efficiency of banks in Sri Lanka during the study period was relatively high. Sri Lankan banks performed more efficiently during the second political regime (2001–2004), which had more liberal political and economic policies to promote the private sector compared with other regimes. During this period, the government was involved in peace talks, leading to a ceasefire agreement that temporarily stopped the violence. Furthermore, the positive coefficients for the dummy variables representing the third and fourth political regimes showed that more restrictive economic policies can increase bank cost inefficiencies. The results also indicate that immediately following the civil war, Sri Lankan banks recorded a decline in cost efficiency. Cost inefficiency was positively associated with banks' risk aversion, credit risk, market share, interest rate risk and increase in GDP and negatively associated with non‐earning assets, liquidity, bank size and concentration.

Transportation Infrastructure Relations on Economic Growth in Sumatra Island

Transportation infrastructure is a stimulus in the economic growth of the region, no exception in Indonesia. But the interaction between transportation and economic development is a link to transportation’s ability to magnify the impact of urbanization. This raises the question of whether the existence of transportation can explain the economic growth that is occurring. On the other hand, whether the lack of transportation infrastructure is due to the economic capabilities that exist in the region. This research aims to pay attention to the relationship between transportation and economic growth in Sumatra Island. The growth of transportation infrastructure may explain economic growth in all districts of Sumatra Island but the magnitude of those relations in the urban areas are far greater than in nonurban areas. Using the Multispatial CCM method, it appears that investment in transportation infrastructure does not directly increase the GDP of transportation in the region. This research suggests that road investment can have an impact on GDP through increasing the region’s population which then provides an increase in GDP.

Analyzing the Causal Relationship between Trade, FDI and Economic Growth: In the Case of India

This study analyzes the relationship between trade, FDI and economic growth in India from 1980 to 2019. India’s economic reform began in the early 1980s, but the full-scale liberalization and privatization process began in July 1980 due to the balance-of-payments crisis and liquidity crisis faced by the economy. India has been a protectionist country for a while, but has gradually changed to a country open to international trade, and as of 2019, trade accounted for 43.3% of the country’s GDP. The main export products are petroleum (14.6%) and diamonds (7.9%) as primary products, and major trading partners are the United Arab Emirates and China. South Korea recently signed a free trade agreement with ASEAN. The results of analyzing the relationship between trade, FDI, and economic growth in India are as follows. The results of the Granger causal relationship showed that there is a one-way causal relationship between GDP and exports, and that GDP affects the significance level of 5% of exports. In the case of India, an increase in imports or FDI has a positive effect on the increase in GDP, but it is not significant. An increase in exports has a rather negative effect on an increase in GDP, and the VECM results show that when exports increase, GDP decreases by 9% at a level of 10% significance.

Impact of industrialization on China’s regional energy security in the New Era

This research is one of the very few studies that seeks to examine the association between China’s industrial development and its energy sustainability. It does so by discussing the impact of industrialization on energy security in the new era, during which the focuses of industrialization and energy security in China have changed. The former has shifted from quantity-based expansion to quality-based growth, while the latter has shifted from supply security to comprehensive security, including matching security. Since researchers have paid little attention to evaluations of industrialization and energy security from the perspective of the new era, this study aims to address this gap. An empirical study on the impact of industrialization on energy security is conducted, taking 30 provinces in China as research objects. The findings show that China’s energy supply security and consumption security have improved but that its matching security has deteriorated, which will eventually lead to an overall deterioration in energy security. Industrialization, however, can improve levels of energy security, supply security, and consumption security. Moreover, green technology efficiency and the capital–labor ratio both can improve levels of energy security and supply security, the former can also improve the level of consumption security and the latter can also improve the level of matching security. In contrast, an increase in GDP per capita inhibits energy security, supply security, consumption security, and matching security. This study will be helpful for policymakers seeking to resolve the issue of energy sustainability in the context of industrialization in China’s new era.

Prospecting and modeling of primary energy production indicators in Brazil supported by graph theory

This research presents a study on the scenario of primary energy production in Brazil over the period from 1970 to 2018, as well as the main sources that contributed to the national energy matrix. To map trends in primary energy production, Social Network Analysis was applied. Also are presented the mathematical models that represent the variation in the centrality and density of primary energy production. Based on the results and the literature on the economy of Brazil in the period between the years 1970 to 2018, it discuss the movements carried out by public policymakers that culminated in a reduction of investments in the sector, even that demand would always be growing. However, it would continue to be linked to the results of small increases in GDP and HDI. Another result was the evolution and of oil as a non-renewable primary source offer for the entire period of the research. Was perceived the alternation of offers from non-renewable sources that, starting with the predominance of firewood, passing on to the generation of hydraulic energy, the most important for two decades, and the substitution by-products derived from sugarcane, which extends until the year 2018. It was also observed that in the period from 2010 to 2018, the share of supply from renewable primary sources, in percentage terms, it is no longer so distant from the share of offers from non-renewable primary sources, almost even dividing availability for the composition of the Brazilian matrix.

Moral Rights Laws and Income Disparity Between Artists in High and Low GDP States

The United States' laissez-faire approach to moral rights legislation has left many academics questioning the impact that these laws have on artists' welfare. In using artists' income as one component of measuring overall well-being, states with additional statewide moral rights legislation have been shown to contribute to more significant artist losses, in contrast to states with only federal legislation. At the same time, moral rights laws have been shown to have no impact on artists' choice of residency, leaving some artists possibly disadvantaged regarding their choice of residency. Utilizing a difference in differences framework, this paper explores the impact of moral rights legislation on artists' weekly incomes between moral rights states of varying outputs of GDP. Although results suggested that artists would lose approximately $0.18 per one billion dollar increase in GDP at the statewide level, after conducting an additional t-test, these findings were shown to have no statistical significance. Several limitations, most prominently a lack of data availability in the pre-law values required for the difference in differences framework, may have contributed to these findings. These indeterminate results leave the question of whether some artists remain economically disadvantaged as a result of moral rights legislation uncertain.

IMPLEMENTATION OF COMPLETE OR PARTIAL FARE-FREE PUBLIC TRANSPORT (FFPT) CONCEPT CAN REDUCE MORBIDITY AND MORTALITY ASSOCIATED WITH NEUROSURGICAL CONDITIONS - HYPOTHESIS

Background: The Chief Minister of Tamil Nadu has issued an executive order that permitted free travel for (1) women (2) differentially abled persons (3) ITI Students in the town (local) buses owned and run by Tamil Nadu State Transport Corporation (TNSTC). This paper traces the history of initiatives by Dravidian Governments in (a) Making Transport Facilities Available, Accessible and Affordable for all parts of society irrespective of Location, Economic Status, Social Status and Gender (b) Women Education, Employment, Entrepreneurship, Empowerment, Health, and Social Security and proposes a hypothesis on the potential Health and Economic Benets of the recent announcements. Materials and Methods: Literature Review and Analysis of the impact of the recent announcement. Results and Conclusions: 1. Successive Dravidian Governments in the state of Tamil Nadu have implemented various schemes to ensure that Transport Facilities are Available, Accessible, and Affordable for all parts of society irrespective of Location, Economic Status, Social Status, and Gender, and these schemes have also made a tremendous impact on improving Gender Equality, Social Equality and Augmenting the GDP and Economics. 2. Successive Dravidian Governments in the state of Tamil Nadu have implemented various schemes regarding Women's Women Education, Employment, Entrepreneurship, Empowerment, Health, and Social Security. 3. In addition to building upon the above two achievements, the current announcement is also likely to ensure various benets like: a. Reduction in Medical Expenses due to reduced mortality and morbidity of certain illnesses of the brain and spine. b. Reduction in Sickness Absenteeism due to reduced mortality and morbidity of certain illnesses of brain and spine. c. Reduction in Disability Adjusted Life Years due to reduced mortality and morbidity of certain illnesses of brain and spine. d. Increase in Cost Savings by Public. e. Increase in Education and Employment of Women f. Increase in GDP. g. Increase in Prot of Private Bus Companies. h. Increase Tax Revenue to Government. i. Increase Foreign Exchange Reserves. j. Increase Value of Rupee.

BRICS carbon neutrality target: Measuring the impact of electricity production from renewable energy sources and globalization

Globally, the issues of climate change and global warming rapidly rises due to extensive CO2 emission. In this regard, countries across the globe initiate policies to combat CO2 emissions and attain a carbon neutrality target. As an emerging research area, the current study investigated carbon neutrality targets for BRICS economies (excluding Russia) covering the period from 1980 to 2018. This study covers important variables that influence both the economy and energy. Considering the role of electricity production from renewable energy and globalization, this study also checked for the role of income and renewable energy consumption. Various second-generation unit root and cointegration tests are used for the panel data to observe the stationarity and long-run relationship among these variables. Also, the DOLS and FMOLS are employed for the long-run estimation. Additionally, the article utilizes fixed effect and random effect models. This study also utilizes the augmented mean group (AMG) to confirm the prior findings. The empirical findings present evidence of the validity of the environmental Kuznets curve (EKC) hypothesis in the region. Moreover, the findings suggest that income and globalization play a positive role in carbon dioxide emission, which negatively influences the carbon neutrality target. However, electricity production from renewable energy and renewable energy consumption is efficient for achieving carbon neutrality targets. Specifically, the AMG estimates reveal that a percent increase in GDP and globalization increases 1.087 and 0.0342 % CO2 emissions while a unit increase in renewable electricity production and renewable energy consumption declines CO2 emissions by 0.0205 and 0.0143 %, respectively. The results are found robust and significant. Based on the empirical findings, policy implications are provided that would lead the BRICS region to attain the carbon neutrality target by revising the policies concerning globalization and economic growth. Also, proper attention should be paid to renewable energy electricity adaptation.

Fiscal policy and environment: a long-run multivariate empirical analysis of ecological footprint in Pakistan.

The ecological footprint attempts to quantify human impact on nature and its resources necessary to satisfy human needs. This research study explores the long-run implications of fiscal policy on the ecological footprint in Pakistan empirically, keeping different socio-economic factors into consideration. Per annum, time series data have been collected between 1976 and 2018, and the ARDL model is applied to investigate this long-run and short-run association. The conclusion of ARDL model shows that a 1% increase in public development expenditures, total population, GDP, and energy consumption increase 0.19, 2.17, 1.16, and 2.17% ecological footprint, respectively, in Pakistan between 1976 and 2018 vice versa. However, it is also derived that a 1% increase in public tax and non-tax revenue and current public expenditures (in health, education, and other social sectors) shrink 0.36 and 0.013% ecological footprint in the long run in Pakistan. For policy implications, these results focus on practical fiscal policy significance to achieve environmental targets in Pakistan, suggesting an increase in public current expenditures in public and social sectors and increasing public revenue by expanding the tax base, which will ultimately reduce ecological footprint in the long run in Pakistan.