Abstract
The Belt and Road initiative is a comprehensive strategic initiative initiated by the Chinese government; it encompasses a significant segment of geo-territory, interaction of economy, investment, environment and ecology worldwide. In recent years, much has been said and written about the Belt and Road initiative’s economic and investment prospectus; however, relatively little attention has been paid to the comprehensive quest of its emergent ecological and sustainable environmental spares. This paper aims to investigate the association of forest resources, agricultural expansion, and financial development with energy demand and environment; based on ecological footprints among selected ninety-seven nations of Belt and Road initiative from 1995 to 2018 by employing a Generalized Method of Moments and Driscoll and Kraay approaches. Empirical outcomes of the study have revealed that GDP growth reduces the environmental burden, and agricultural expansion deteriorates the environment. Contrarily, finance, foreign direct investment, and forest resources are providing solutions for environmental improvement in the study area. Similarly, the role of forests, agriculture, and finance remain positive determinants of energy demand in the study area. From the causal test, we found that the indicators of environment, energy, forest, agriculture, and finance all have bidirectional linkages. Based on our research results, we have concluded some policy implications for policymakers within the Belt and Road initiative framework.
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Relevant data available from the first author upon request.
Change history
03 August 2023
A Correction to this paper has been published: https://doi.org/10.1007/s10098-023-02591-3
Abbreviations
- BRI:
-
Belt and Road initiative
- CD:
-
Crossectional dependence
- COP:
-
Conference of the parties
- ED:
-
Environmental degradation
- EKC:
-
Environmental kuznets curve
- END:
-
Energy demand
- GHG:
-
Greenhouse gas
- GMM:
-
Generalized method of moments
- IPCC:
-
International panel on climate change
- OPEC:
-
Organization of petroleum exporting countries
- PSH:
-
Panel slope homogeneity
- QARDL:
-
Quantile autoregressive distributed lags
- SAARC:
-
South Asia association for regional cooperation
- URB:
-
Urbanization
- WDI:
-
World development indicators
- WWF:
-
World wide fund
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Acknowledgements
We sincerely acknowledged the China postdoctoral foundation fellowship grant ‘CJ3050A0671297’ and the College of Geography and environmental science Henan University for needful assistance during the completion of this project.
Funding
Dr. Kalpana Regmi and Dr. Lochan Kumar Batala partially funded by the China Postdoctoral foundation fellowship grant CJ3050A0671297.
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LKB conceived the study and was responsible for the design and development of this paper. KR, WW, and AR were responsible for data collection and analysis. JQ was responsible for data interpretation and supervision; LKB wrote the final draft of the manuscript. All authors read the final draft of the manuscript and approved to submission.
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Belt and road initative countries official list
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Batala, L.K., Qiao, J., Regmi, K. et al. The implications of forest resources depletion, agricultural expansion, and financial development on energy demand and ecological footprint in BRI countries. Clean Techn Environ Policy 25, 2845–2861 (2023). https://doi.org/10.1007/s10098-023-02575-3
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DOI: https://doi.org/10.1007/s10098-023-02575-3