Environmental sustainability and ecological balance dilemma: accounting for the role of institutional quality
Yükleniyor...
Tarih
2022
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
SPRINGER HEIDELBERG, TIERGARTENSTRASSE 17, D-69121 HEIDELBERG, GERMANY
Erişim Hakkı
info:eu-repo/semantics/openAccess
Attribution-NonCommercial-NoDerivs 3.0 United States
Attribution-NonCommercial-NoDerivs 3.0 United States
Özet
Global warming is a global menace mainly driven by human anthropogenic activities. There is a need for environmental sustainability amidst increased economic growth. To this end, this study draws motivation from the United Nations Sustainable Development Goals (UNSDGs) with special focus on climate change mitigation and ecological balance. Thus, the present study analyses the dynamic relationship between economic growth, conventional energy consumption, access to technological innovation, economic globalisation, and the pertinent role of institutional quality for the case of the Russian Federation. This study employed novel combined Bayer and Hack cointegration test in conjunction with Pesaran’s ARDL bounds testing for robustness. Both tests validate a long-run equilibrium relationship between the outlined variables. Furthermore, empirical results show that increase in economic activities and consumption of energy that stem from a fossil-fuel basis both have deteriorating efect on environmental sustainability for Russia. Additionally, efect of globalisation shows mixed results, such as, in the short run, economic globalisation dampens environmental quality as increase in global integration exacerbates environmental quality, while, in the long term, globalisation improves the quality of the environment. On the contribution of institutional quality, it improves environmental sustainability over the investigated period. Interestingly, renewable is seen as a panacea for environmental sustainability in the Russian Federation given its pertinent efect to improve the environment of Russia. From a policy lens, there is need for a paradigm shift to renewables and clean technologies to mitigate the efect of climate change issues. The concluding section presents more policy strategies.
Açıklama
Anahtar Kelimeler
Environmental sustainability, Carbon reduction, Ecological balance, Economic growth, Combined Bayer and Hanck cointegration, Russian Federation
Kaynak
Environmental Science and Pollution Research
WoS Q Değeri
Q1
Scopus Q Değeri
Q1
Cilt
29
Sayı
49
