Role of governance index, democracy, industrialization, and urbanization on environmental sustainability of BRICS countries: A novel PMG-ARDL approach

Social sciences & humanities open Pub Date : 2025-01-01 Epub Date: 2024-12-12 DOI:10.1016/j.ssaho.2024.101242

Md Atik Hasan , Liton Chandra Voumik , Ajharul Islam Mozumder , Miguel Angel Esquivias , Leslie Verteramo-Chiu , Mihir Kumar Das

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Abstract

This research examines the environmental sustainability dynamics of BRICS countries from 1996 to 2022, focusing on governance, democracy, industrialization, and urbanization's impact on the Load Capacity Factor (LCF). Using the Panel Mean Group Autoregressive Distributed Lag (PMG-ARDL) model, the study validates findings with fully modified OLS (FMOLS) and Common Correlated Effects (CCR) methodologies. Results indicate a positive, statistically significant relationship between the governance index and LCF, suggesting effective governance enhances environmental sustainability. In contrast, democracy, industrialization, and urbanization negatively affect LCF, implying these factors strain resources and hinder sustainability. Strengthening governance and sustainable development policies can mitigate these adverse effects, promoting a resilient future for BRICS countries.

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治理指数、民主、工业化和城市化对金砖国家环境可持续性的作用：一种新的PMG-ARDL方法

本研究考察了1996年至2022年金砖国家的环境可持续性动态，重点关注治理、民主、工业化和城市化对负荷能力因子（LCF）的影响。使用面板平均组自回归分布滞后（PMG-ARDL）模型，该研究用完全修正的OLS （FMOLS）和共同相关效应（CCR）方法验证了研究结果。结果表明，治理指数与LCF呈显著正相关，表明有效的治理能提高环境可持续性。相比之下，民主、工业化和城市化对LCF有负面影响，这意味着这些因素会使资源紧张并阻碍可持续性。加强治理和可持续发展政策可以减轻这些不利影响，促进金砖国家有韧性的未来。

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