{"title":"Environmental Sustainability in India: The Effects of Financial Development and Green Energy on Ecological Footprint","authors":"","doi":"10.46544/ams.v29i1.18","DOIUrl":null,"url":null,"abstract":"In this study, environmental sustainability is investigated through the ecological footprint variable in India from 1965 to 2018. In this context, the impact of renewable energy use, financial development, urbanization and economic growth on India's ecological footprint is analyzed. Since all variables were stationary at the first difference, the cointegration relationship between variables was tested with Gregory-Hansen and Hatemi-J cointegration tests. Empirical findings have shown that there is a long-term relationship between the variables in the relevant period. FMOLS, DOLS, and CCR estimators were used to determine the direction and magnitude of the effect of the explanatory variables on the dependent variable. The estimation results found that while economic growth increased the ecological footprint the most, financial development decreased the most. In addition, the increase in urbanization increases environmental degradation. However, although the use of green energy is not at the desired level, it increases the environmental quality. On the other hand, the study tests the EKC hypothesis for India. Research results support that there is an inverted-u-shaped relationship between economic growth and ecological footprint. Therefore, for India, whose GDP is integrated with fossil fuels, higher growth at the beginning causes more fossil fuel use and negatively affects environmental quality. On the other hand, increasing urbanization in India, which has an underdeveloped energy infrastructure, increases environmental degradation. However, increasing renewable energy and financial development offer significant opportunities to reduce the ecological footprint.","PeriodicalId":50889,"journal":{"name":"Acta Montanistica Slovaca","volume":null,"pages":null},"PeriodicalIF":2.2000,"publicationDate":"2024-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Acta Montanistica Slovaca","FirstCategoryId":"89","ListUrlMain":"https://doi.org/10.46544/ams.v29i1.18","RegionNum":4,"RegionCategory":"地球科学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"GEOSCIENCES, MULTIDISCIPLINARY","Score":null,"Total":0}
引用次数: 0
Abstract
In this study, environmental sustainability is investigated through the ecological footprint variable in India from 1965 to 2018. In this context, the impact of renewable energy use, financial development, urbanization and economic growth on India's ecological footprint is analyzed. Since all variables were stationary at the first difference, the cointegration relationship between variables was tested with Gregory-Hansen and Hatemi-J cointegration tests. Empirical findings have shown that there is a long-term relationship between the variables in the relevant period. FMOLS, DOLS, and CCR estimators were used to determine the direction and magnitude of the effect of the explanatory variables on the dependent variable. The estimation results found that while economic growth increased the ecological footprint the most, financial development decreased the most. In addition, the increase in urbanization increases environmental degradation. However, although the use of green energy is not at the desired level, it increases the environmental quality. On the other hand, the study tests the EKC hypothesis for India. Research results support that there is an inverted-u-shaped relationship between economic growth and ecological footprint. Therefore, for India, whose GDP is integrated with fossil fuels, higher growth at the beginning causes more fossil fuel use and negatively affects environmental quality. On the other hand, increasing urbanization in India, which has an underdeveloped energy infrastructure, increases environmental degradation. However, increasing renewable energy and financial development offer significant opportunities to reduce the ecological footprint.
期刊介绍：
Acta Montanistica Slovaca publishes high quality articles on basic and applied research in the following fields:
geology and geological survey;
mining;
Earth resources;
underground engineering and geotechnics;
mining mechanization, mining transport, deep hole drilling;
ecotechnology and mineralurgy;
process control, automation and applied informatics in raw materials extraction, utilization and processing;
other similar fields.
Acta Montanistica Slovaca is the only scientific journal of this kind in Central, Eastern and South Eastern Europe.
The submitted manuscripts should contribute significantly to the international literature, even if the focus can be regional. Manuscripts should cite the extant and relevant international literature, should clearly state what the wider contribution is (e.g. a novel discovery, application of a new technique or methodology, application of an existing methodology to a new problem), and should discuss the importance of the work in the international context.
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