Human capital, economic complexity, and ecological footprints: Crafting a sustainable development policy framework for E7 nations

IF 3.5 4区社会学 Q2 ENVIRONMENTAL SCIENCES

Natural Resources Forum Pub Date : 2024-06-28 DOI:10.1111/1477-8947.12520

Tao Hong, Jie Yin, Muhammad Nouman Latif, Mahmood Ahmad

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引用次数: 0

Abstract

Climate change is one of the most pressing challenges of our time, with far‐reaching implications for ecosystems, economies, and societies worldwide. Human capital (HUC) and economic complexity (ECC) “understood as structural transformation toward more sophisticated and knowledge‐based production” can be pivotal in curtailing ecological degradation. In this context, the study explores the intricate relationship between HUC, financial development, financial globalization, gross domestic product, ECC, and ecological footprints from 1995 to 2021. To achieve this objective, advanced econometric estimation methods are employed. The results indicate the presence of cross‐sectional dependence and slope heterogeneity in the dataset. The variables present a mixed order of stationarity, while the Westerlund test indicates the presence of a long‐run equilibrium association. The results from the Method of Moments Quantile regression indicate that ECC posed a positive but insignificant effect in the lower quantile (τ = 0.1–0.25), while negative and significant in the middle (τ = 0.50) and upper quantiles (τ = 0.75–0.90). Moreover, financial globalization negatively and significantly affects ecological footprints through all the quantiles except the lower quantile (τ = 0.1). Financial development, gross domestic product, and HUC enhance environmental degradation by escalating ecological footprints. Based on the results, the study suggested enhancing the ECC and financial globalization, while sustainable utilization of HUC and strict regulations for the financial sector to foster sustainable development in E7 countries.

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人力资本、经济复杂性和生态足迹：为 E7 国家制定可持续发展政策框架

气候变化是当今时代最紧迫的挑战之一，对全世界的生态系统、经济和社会具有深远的影响。人力资本（HUC）和经济复杂性（ECC）"被理解为向更复杂和以知识为基础的生产的结构性转变"，可在遏制生态退化方面发挥关键作用。在此背景下，本研究探讨了 1995 年至 2021 年期间经济资本、金融发展、金融全球化、国内生产总值、ECC 和生态足迹之间错综复杂的关系。为实现这一目标，研究采用了先进的计量经济学估算方法。结果表明，数据集存在横截面依赖性和斜率异质性。变量呈现混合阶的静态性，而 Westerlund 检验表明存在长期均衡关系。矩量法量值回归结果表明，ECC 对低量值（τ = 0.1-0.25）的影响为正但不显著，而对中量值（τ = 0.50）和高量值（τ = 0.75-0.90）的影响为负且显著。此外，金融全球化对生态足迹的负面影响在所有量级都非常显著，只有低量级除外（τ = 0.1）。金融发展、国内生产总值和 HUC 通过增加生态足迹加剧了环境退化。根据研究结果，研究建议加强 ECC 和金融全球化，同时可持续利用 HUC 和严格监管金融部门，以促进 E7 国家的可持续发展。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Natural Resources Forum 环境科学-环境科学

CiteScore

6.10

自引率

0.00%

发文量

审稿时长

>36 weeks

期刊介绍： Natural Resources Forum, a United Nations Sustainable Development Journal, focuses on international, multidisciplinary issues related to sustainable development, with an emphasis on developing countries. The journal seeks to address gaps in current knowledge and stimulate policy discussions on the most critical issues associated with the sustainable development agenda, by promoting research that integrates the social, economic, and environmental dimensions of sustainable development. Contributions that inform the global policy debate through pragmatic lessons learned from experience at the local, national, and global levels are encouraged. The Journal considers articles written on all topics relevant to sustainable development. In addition, it dedicates series, issues and special sections to specific themes that are relevant to the current discussions of the United Nations Commission on Sustainable Development (CSD). Articles must be based on original research and must be relevant to policy-making. Criteria for selection of submitted articles include: 1) Relevance and importance of the topic discussed to sustainable development in general, both in terms of policy impacts and gaps in current knowledge being addressed by the article; 2) Treatment of the topic that incorporates social, economic and environmental aspects of sustainable development, rather than focusing purely on sectoral and/or technical aspects; 3) Articles must contain original applied material drawn from concrete projects, policy implementation, or literature reviews; purely theoretical papers are not entertained.