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Does sustainable environmental agenda matter in the era of globalization? The relationship among financial development, energy consumption, and sustainable environmental-economic growth

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Abstract

The purpose of this research is to explore the connection of financial development, sustainable environmental-economic growth, and energy consumption among the South Asian Nations. This research examines a combine influence on energy consumption, financial development on sustainable environmental economic growth regarding south Asian economies. This study has used autoregressive distributive lag (ARDL) and panel data set from World Development Indicators (WDI) start from 1980 to 2018. The findings of this study indicate a significant and positive effect of financial development toward economic growth of selected south Asian economies. However, energy consumption has also positive impact toward sustainable environmental-economic growth, which further leads toward sustainable environmental agenda progress. Finally, energy consumption results have positive effect on sustainable economic growth among mean group (MG), pooled mean group (PMG), and common correlated effect mean group (CMEMG) results.

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Authors and Affiliations

  1. Postdoctoral Station of Ethnology, Ningxia University, Ningxia, Yinchuan, 750021, China

    XingHua Cao

  2. Department of Public Security, Sichuan Police College, Sichuan, Luzhou, 646000, China

    XingHua Cao

  3. C.H Sandage School of Business, Graceland University Iowa, Lamoni, IA, USA

    Desti Kannaiah

  4. School of International Economics and Trade, Ningbo University of Finance & Economics, Ningbo, 315175, China

    Longtao Ye

  5. Institute of International Studies, Shandong University 180 Wenhua Xilu, 264209, Weihai, China

    Jamal Khan

  6. Department of Management Sciences, Riphah International University, Rawalpindi, Pakistan

    Malik Shahzad Shabbir

  7. Department of Management Sciences, Comsats University, Lahore Campus, Lahore, Pakistan

    Kanwal Bilal

  8. College of Business, Al-Ain University, Al-Ain, United Arab Emirates

    Mosab I. Tabash

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  1. XingHua Cao
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  2. Desti Kannaiah
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  3. Longtao Ye
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  4. Jamal Khan
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  5. Malik Shahzad Shabbir
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  6. Kanwal Bilal
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  7. Mosab I. Tabash
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Contributions

Dr XingHua Cao has completed the data analysis part, Dr. Desti completed the Introduction section, Dr Ye completed the Literature review section, Miss Kanwal wrote Methodology section, Mr Malik Shabbir interpreted the data analysis section, Dr Jamal wrote conclusion and Dr. Mosab wrote abstract parts and format the paper as per journal requirements.

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Correspondence to Longtao Ye.

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Cao, X., Kannaiah, D., Ye, L. et al. Does sustainable environmental agenda matter in the era of globalization? The relationship among financial development, energy consumption, and sustainable environmental-economic growth. Environ Sci Pollut Res 29, 30808–30818 (2022). https://doi.org/10.1007/s11356-022-18772-4

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