Environmental Sustainability in India: The Effects of Financial Development and Green Energy on Ecological Footprint

IF 2.2 4区地球科学 Q2 GEOSCIENCES, MULTIDISCIPLINARY

Acta Montanistica Slovaca Pub Date : 2024-07-15 DOI:10.46544/ams.v29i1.18

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Abstract

In this study, environmental sustainability is investigated through the ecological footprint variable in India from 1965 to 2018. In this context, the impact of renewable energy use, financial development, urbanization and economic growth on India's ecological footprint is analyzed. Since all variables were stationary at the first difference, the cointegration relationship between variables was tested with Gregory-Hansen and Hatemi-J cointegration tests. Empirical findings have shown that there is a long-term relationship between the variables in the relevant period. FMOLS, DOLS, and CCR estimators were used to determine the direction and magnitude of the effect of the explanatory variables on the dependent variable. The estimation results found that while economic growth increased the ecological footprint the most, financial development decreased the most. In addition, the increase in urbanization increases environmental degradation. However, although the use of green energy is not at the desired level, it increases the environmental quality. On the other hand, the study tests the EKC hypothesis for India. Research results support that there is an inverted-u-shaped relationship between economic growth and ecological footprint. Therefore, for India, whose GDP is integrated with fossil fuels, higher growth at the beginning causes more fossil fuel use and negatively affects environmental quality. On the other hand, increasing urbanization in India, which has an underdeveloped energy infrastructure, increases environmental degradation. However, increasing renewable energy and financial development offer significant opportunities to reduce the ecological footprint.

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印度的环境可持续性：金融发展和绿色能源对生态足迹的影响

本研究通过 1965 年至 2018 年印度的生态足迹变量对环境可持续性进行了调查。在此背景下，分析了可再生能源利用、金融发展、城市化和经济增长对印度生态足迹的影响。由于所有变量都是一阶差分静止的，因此采用格雷戈里-汉森和哈特米-J 协整检验法检验变量之间的协整关系。实证结果表明，在相关时期，变量之间存在长期关系。使用 FMOLS、DOLS 和 CCR 估计器来确定解释变量对因变量影响的方向和大小。估计结果发现，经济增长对生态足迹的增加最大，而金融发展对生态足迹的减少最大。此外，城市化程度的提高也加剧了环境退化。然而，虽然绿色能源的使用没有达到理想水平，但却提高了环境质量。另一方面，本研究检验了印度的 EKC 假设。研究结果表明，经济增长与生态足迹之间存在倒 "U "型关系。因此，对于国内生产总值与化石燃料融为一体的印度来说，一开始的较高增长会导致更多的化石燃料使用，并对环境质量产生负面影响。另一方面，由于印度的能源基础设施不发达，城市化进程的加快加剧了环境退化。然而，可再生能源的增加和金融发展为减少生态足迹提供了重要机会。

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

Acta Montanistica Slovaca 地学-地球科学综合

CiteScore

3.60

自引率

12.50%

发文量

审稿时长

30 weeks

期刊介绍： Acta Montanistica Slovaca publishes high quality articles on basic and applied research in the following fields: geology and geological survey; mining; Earth resources; underground engineering and geotechnics; mining mechanization, mining transport, deep hole drilling; ecotechnology and mineralurgy; process control, automation and applied informatics in raw materials extraction, utilization and processing; other similar fields. Acta Montanistica Slovaca is the only scientific journal of this kind in Central, Eastern and South Eastern Europe. The submitted manuscripts should contribute significantly to the international literature, even if the focus can be regional. Manuscripts should cite the extant and relevant international literature, should clearly state what the wider contribution is (e.g. a novel discovery, application of a new technique or methodology, application of an existing methodology to a new problem), and should discuss the importance of the work in the international context.