Environ Sci Pollut Res Int. 2024 Oct 21. doi: 10.1007/s11356-024-35288-1. Online ahead of print.
ABSTRACT
CO2 emissions in Belt and Road Initiative (BRI) countries are precisely influenced by economic determinants, requiring a comprehensive perspective. The BRI can augment its prospects for sustainable development by acknowledging the obstacles it faces and promoting global collaboration. Examining the CO2 emission (CO2e) in BRI countries in response to economic determinants such as financial development (FD), income distribution (ID), foreign direct investment (FDI), economic complexity index (ECI), and economic growth (EG) will determine the study’s long-term and short-term impacts. This study introduces a novel concept of CO2es by employing panel data from 1991 to 2020. Thus, the CD, Kao, Pedroni, FMOLS, and pooled mean group-autoregressive distributed lag (PMG-ARDL) tests are utilized to assess cointegration. According to empirical findings, economic determinants (ECI, EG, FDI, and ID) have a statistically significant short-run and long-run impact on CO2e in BRI countries. Policymakers in BRI countries should integrate monetary development, FDI, and CO2es to foster EG, attract FDI, and promote sustainable development through regulatory frameworks.
PMID:39432216 | DOI:10.1007/s11356-024-35288-1
