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The dynamic impact of biomass and natural resources on ecological footprint in BRICS economies: A quantile regression evidence

Authors: Abraham Ayobamiji Awosusi; Tomiwa Sunday Adebayo; Mehmet Altuntaş; Ephraim Bonah Agyekum; Hossam M. Zawbaa; Salah Kamel;

The dynamic impact of biomass and natural resources on ecological footprint in BRICS economies: A quantile regression evidence

Abstract

Many emerging economies, including the BRICS economies, are having difficulty meeting the Sustainable Development Goals’ (SDGs) objectives. Consequently, this research discusses the creation of an SDG framework for the BRICS economies, which can be utilized as a model for other blocs. To achieve this purpose, this research probes into the effect of biomass energy usage on ecological footprint in the BRICS economies between 1992 and 2018, considering the roles of gross capital formation, natural resources, and globalization. The novel Methods of Moments-Quantile-Regression (MMQR) approach with fixed effects is used, the outcomes of which reveal that in all quantiles (10th to 90th), globalization and biomass energy use mitigate environmental degradation, whereas economic growth, natural resources, and gross capital formation contribute to environmental degradation. The present research applied a series of techniques such as panel FMOLS, and DOLS, FE-OLS, the outcomes of which disclosed that globalization and biomass energy utilization help mitigate environmental degradation, while economic growth, natural resources, and gross capital formation improve environmental degradation. On the basis of the study’s findings, we suggest a shift in energy policies away from fossil fuels toward renewable energy alternatives by taking measures regarding the innovation of biomass to improve conversion efficiency.

Countries
Ireland, Russian Federation
Keywords

330, ENERGY POLICY, EMERGING ECONOMIES, ENERGY-CONSUMPTION, ECONOMIC GROWTH, ECOLOGY, BIOMASS ENERGY CONSUMPTION, BIOMASS, QUANTILE REGRESSION, 339, DYNAMIC IMPACTS, Ecological footprint, GLOBALIZATION, BIO-MASS ENERGY, ECOLOGICAL FOOTPRINT, METHOD OF MOMENTS, Economic growth, ECONOMICS, Computer Sciences, TK1-9971, ENERGY UTILIZATION, Biomass energy consumption, BRICS, FOSSIL FUELS, SUSTAINABLE DEVELOPMENT, Electrical engineering. Electronics. Nuclear engineering, Globalization

  • BIP!
    Impact byBIP!
    citations
    This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    236
    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Top 0.1%
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
    Top 10%
    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
    Top 0.1%
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citations
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
236
Top 0.1%
Top 10%
Top 0.1%
Green
gold