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Scrutinizing the existence of the environmental Kuznets curve in the context of foreign direct investment, trade, and renewable energy in Bangladesh: impending from ARDL method

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Abstract

In this study, annual time-series data from 1972 to 2021 are utilized to evaluate the existence of the environmental Kuznets curve (EKC) in Bangladesh. The study also takes into consideration a number of other characteristics, including openness to trade, renewable energy sources, and foreign direct investment (FDI). In this work, we have used the ARDL model to analyze the cointegration of the variables using the mixed orders, or I(0) and I(1), of the variables. Zivot–Andrews demonstrate a single structural break across all variables. The ARDL bound test confirms the notion of long-term cointegration between the variables. The relationship between CO2 emissions and economic performance is inverted U-shaped. Because of the presence of the EKC hypothesis, per capita carbon emissions (PCCE) increase until a certain level of GDP per capita is reached, at which point they begin to fall. Although trade has a negative impact on the environment, the uses of renewable energy and foreign direct investment have a positive impact. The speed of adjustment toward equilibrium of this estimation is 48%. The study concludes that the best way to reduce environmental degradation is to employ renewable energy, and environment-friendly business is required to maintain sustainable development in Bangladesh.

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Authors and Affiliations

  1. Department of Economics, Sheikh Fazilatunnesa Mujib University, Jamalpur, 2000, Bangladesh

    Md. Hasanur Rahman

  2. Department of Economics, Comilla University, Cumilla, 3506, Bangladesh

    Md. Hasanur Rahman & Shapan Chandra Majumder

  3. Department of Economics, Noakhali Science and Technology University, Noakhali, 3814, Bangladesh

    Liton Chandra Voumik & Md. Maznur Rahman

  4. Mizoram University, Aizawl, Mizoram, India

    Md. Maznur Rahman

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MHR and LCV deal with data analysis and developed econometric models and background of this study, and SCM and MMR deal with substantial writing, revision, proofreading, and improved the draft.

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Correspondence to Shapan Chandra Majumder.

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Rahman, M.H., Voumik, L.C., Rahman, M.M. et al. Scrutinizing the existence of the environmental Kuznets curve in the context of foreign direct investment, trade, and renewable energy in Bangladesh: impending from ARDL method. Environ Dev Sustain 26, 12619–12638 (2024). https://doi.org/10.1007/s10668-023-03940-4

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