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Exploring the role of renewable energy, urbanization and structural change for environmental sustainability: Comparative analysis for practical implications

Abstract Environmental sustainability has gained more importance in recent time to ensure socio-economic sustainability via healthy environment. The current decade has witnessed the rise of empirical research in the domain of ecological footprint, which has become a major scholarly area among environmental researchers. However, several key factors determining ecological footprint have been inadequately dealt with in the existing body of knowledge. The current research endeavour explores the association between economic complexity, human capital, renewable energy, urbanization, economic development, and ecological footprint in 20 countries divided into two panels (leading ten economic complex and renewable energy-consuming countries). This study applied panel data estimators, for instance, fully modified ordinary least squares (FMOLS), dynamic ordinary least squares (DOLS) and the canonical cointegrating regression (CCR) long-run estimators to the period from 1980 to 2017. The results reveal that economic complexity, economic development, and urbanization increase the ecological footprint in both panels. Human capital and renewable energy induce ecological footprint, while renewable energy increases ecological footprint in the first panel. Based on empirical evidence, the study recommends the governments of these countries promote production processes that are friendlier to the environment and introduce greener technologies in exports for a drastic reduction in environmental pollution.
- Anhui University of Finance and Economics China (People's Republic of)
- Government College University, Faisalabad Pakistan
- Anhui University of Finance and Economics China (People's Republic of)
- Shandong Women’s University China (People's Republic of)
- Shandong Women’s University China (People's Republic of)
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).116 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 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%
