Determinants of carbon dioxide emissions in technology revolution 5.0: New insights in Vietnam

Abstract

This research investigates the determinants of carbon dioxide emissions within the context of Revolution 5.0, offering new insights specific to Vietnam. Understanding the environmental implications becomes imperative as the world undergoes unprecedented technological advancements. Data is collected in the World Bank from 2000 to 2023. The study used the random effect model- REM method, the Autoregressive Distributed Lag (ARDL) approach, which examines both short- and long-term relationships among the variables. The analysis of GDP sheds light on the nation's economic growth, emphasizing the sectors contributing significantly to this expansion and addressing associated challenges and opportunities. Migration patterns are explored to understand their impact on the workforce and demographics, considering influencing policies and factors. Population dynamics are scrutinized to reveal trends and factors affecting growth or decline, mainly the demographic dividend. Carbon dioxide emissions are investigated to comprehend their sources and contributors while exploring governmental initiatives aimed at environmental sustainability. The empirical results show that if Vietnam's gross domestic product is up by 1%, carbon dioxide emissions are down by 0.49%. If the Vietnam migration is up by 1%, carbon dioxide emissions are up by 2.11%. If the population is up by 1%, the carbon dioxide emissions are up by 14.62%. If Vietnam's renewable energy consumption is up by 1%, carbon dioxide emissions are down 0.388%. The study recognizes the interconnectedness of these factors, and the paper concludes by summarizing key insights and discussing their implications for Vietnam's future economic and environmental sustainability. Furthermore, it provides recommendations for policymakers and suggests avenues for future research to deepen our understanding of Vietnam's evolving socioeconomic landscape.