Associating Economic Growth and Ecological Footprints through Human Capital and Biocapacity in South Asia
Abstract
:1. Introduction
2. Literature Review
3. Data and Estimated Model
- The data for the biocapacity variable are derived from the “Global Footprint Network”.
- The data for Ecological Footprints are sourced from “WDI” world data indicators.
- Economic Growth data are also derived from “WDI”.
- Data for the human capital variable are sourced from “Pen World Tables”.
- Urbanization data are derived from “WDI” world data indicators.
3.1. Model Specifications
3.2. Methodology
4. Results and Discussion
4.1. Granger Causality Test
4.2. Conclusion and Policy Recommendations
Author Contributions
Funding
Informed Consent Statement
Data Availability Statement
Conflicts of Interest
References
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Parameters | Symbol | Sources |
---|---|---|
Ecological footprint | EF | Global footprint network |
Biocapacity | BIO | Global footprint network |
Economic Growth | G | World Bank |
Human capital | HC | Penn World Tables |
Urbanization | URB | World Bank |
Variable | Levin–Lin–Chu Unit Root Test | Im–Pesaran–Shin | ||
---|---|---|---|---|
At Level | 1st Difference | At LEVEL | 1st Difference | |
−2.18 ** | −1.85 ** | −0.57 | −7.47 *** | |
14.40 | −9.33 *** | −0.43 | −2.43 *** | |
10.13 | −8.88 *** | −0.94 | −3.74 *** | |
−0.99 | −9.81 *** | −0.99 | −4.08 *** | |
5.40 | −12.59 *** | 0.12 | −8.90 *** |
Variable | CADF Unit Root Test | CIPS Test | ||
---|---|---|---|---|
At Level | 1st Difference | At Level | 1st Difference | |
−1.87 | −2.53 ** | −2.50 | −5.40 *** | |
−2.76 | −4.52 *** | −3.31 *** | −5.72 *** | |
−3.51 *** | −4.84 *** | −3.62 ** | −5.40 *** | |
−3.12 ** | −2.35 * | −1.41 | −2.46 ** | |
−1.45 | −4.22 ** | 0.47 | −2.53 ** |
Variable | VIF | 1/VIF |
---|---|---|
LEF | 2.101 | 0.310 |
LURB | 1.090 | 0.290 |
LG | 2.653 | 0.401 |
LG2 | 2.216 | 0.201 |
Lbioc | 2.906 | 0.402 |
Mean VIF | 1.400 | ---- |
lnEF | lnG | lnURB | lnBIOC | lnHC | |
---|---|---|---|---|---|
LM test | 289.91 *** (0.00) | 289.88 *** (0.00) | 290.84 *** (0.00) | 289.91 *** (0.00) | 251.04 *** (0.00) |
CD test | 17.02 *** (0.00) | 17.04 *** (0.00) | 17.01 *** (0.00) | 17.02 *** (0.00) | 15.81 *** (0.00) |
Tests | LM Stats | Prob |
---|---|---|
3.41 *** | 0.001 | |
1.74 *** | 0.000 |
Stats | Values | Z-Value | Prob | Robust Prob |
---|---|---|---|---|
−1.33 | 3.003 | 0.000 | 0.700 | |
−3.51 *** | 3.033 | 0.000 | 0.000 | |
−1.54 | 3.017 | 0.000 | 0.055 | |
−0.67 *** | 2.040 | 0.000 | 0.000 |
Variables | FMOLS | Prob | DOLS | Prob |
---|---|---|---|---|
lnBIOC | 0.033 *** | 0.000 | 0.031 *** | 0.000 |
lnHC | 0.041 *** | 0.000 | 0.049 *** | 0.003 |
lnG | −0.086 *** | 0.000 | −0.078 *** | 0.000 |
lnG2 | 0.008 *** | 0.000 | 0.007 *** | 0.000 |
lnURB | 0.096 *** | 0.000 | 0.096 *** | 0.000 |
Null Hypothesis | W-Stat. | Zbar-Stat. | Prob |
---|---|---|---|
BIOC → EF | 5.64 *** | 3.16 | 0.00 |
EF → BIOC | 6.70 *** | 4.13 | 0.00 |
G → EF | 4.96 ** | 2.53 | 0.01 |
EF → G | 5.59 *** | 3.12 | 0.00 |
HC → EF | 4.77 ** | 2.36 | 0.01 |
EF → HC | 5.71 *** | 3.23 | 0.00 |
URB →EF | 3.17 | 0.89 | 0.36 |
EF → URB | 3.65 | 1.34 | 0.17 |
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Mehmood, U.; Aslam, M.U.; Javed, M.A. Associating Economic Growth and Ecological Footprints through Human Capital and Biocapacity in South Asia. World 2023, 4, 598-611. https://doi.org/10.3390/world4030037
Mehmood U, Aslam MU, Javed MA. Associating Economic Growth and Ecological Footprints through Human Capital and Biocapacity in South Asia. World. 2023; 4(3):598-611. https://doi.org/10.3390/world4030037
Chicago/Turabian StyleMehmood, Usman, Muhammad Umar Aslam, and Muhammad Adil Javed. 2023. "Associating Economic Growth and Ecological Footprints through Human Capital and Biocapacity in South Asia" World 4, no. 3: 598-611. https://doi.org/10.3390/world4030037
APA StyleMehmood, U., Aslam, M. U., & Javed, M. A. (2023). Associating Economic Growth and Ecological Footprints through Human Capital and Biocapacity in South Asia. World, 4(3), 598-611. https://doi.org/10.3390/world4030037