Affiliations 

  • 1 Department of Economics and Sustainable Development, School of Environment, Geography and Applied Economics, Harokopio University of Athens, 70 Eleftheriou Venizelou, 176 76 Athens, Greece. Electronic address: ikostakis@hua.gr
J Environ Manage, 2024 Feb 21;354:120398.
PMID: 38387356 DOI: 10.1016/j.jenvman.2024.120398

Abstract

This study investigates the relationship between economic growth, renewable energy consumption, financial openness, and environmental degradation in selected ASEAN (Association of Southeast Asian Nations) countries (Cambodia, Indonesia, Malaysia, Philippines, Singapore, Thailand, and Vietnam) from 1996 to 2018. We aim to analyze how macroeconomic situation, energy-related factors, and financial determinants contribute to environmental deprivation in selected countries whose growth has recently been substantial. To address this issue, we employ second-generation panel data regression models and quantiles with fixed-effects estimators. Initially, the cointegration analysis supports a long-run association between the variables of our interest. Empirical findings confirm the environmental Kuznets curve hypothesis, but it seems valid only for Singapore. Moreover, results highlight the ecological role of renewable energy for ASEAN countries to achieve Sustainable Development Goals, such as transitioning to a low-carbon economy and reducing air pollution. On the contrary, financial openness is a cause that positively influences CO2 emissions. This research offers practical policy recommendations for many countries, including the ASEAN economies, to attain sustainable development.

* Title and MeSH Headings from MEDLINE®/PubMed®, a database of the U.S. National Library of Medicine.

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