Examining the drivers of inclusive growth: A study of economic performance, environmental sustainability, and life expectancy in BRICS economies

Abstract

Achieving a balance between economic growth, environmental sustainability, and social well-being remains a pressing challenge for emerging economies. This study examines the factors contributing to inclusive growth in the BRICS countries, concentrating on the connections between life expectancy, environmental sustainability, and economic growth. We perform wavelet-based data analysis from 1990 to 2022 to investigate the dynamic time–frequency relationships between life expectancy (LEO) and essential variables such as GDP, CO₂ emissions, RNE consumption, and population growth (PGP). The results show that although economic development and industrialization often increase life expectancy, they also hurt the environment, as most BRICS countries have a positive link between CO₂ emissions and life expectancy at birth. The findings also indicate that short-term economic and infrastructural disturbances prevent the immediate effects of renewable energy usage on life expectancy. Furthermore, because population increases burden healthcare systems and resources, inclusive growth faces substantial hurdles. The study provides insights into the importance of green energy and demographic management in fostering sustainable and inclusive growth, and it underscores the challenges of striking a balance between economic development, social well-being, and environmental sustainability in emerging nations.