Department of Finance, University of Lagos, Akoka-Yaba, Nigeria.
Department of Economics, Banking and Finance, Gregory University, Abia State, Uturu, Nigeria.
Environ Sci Pollut Res Int. 2022 Aug;29(36):54652-54676. doi: 10.1007/s11356-022-19720-y. Epub 2022 Mar 19.
This study is hinged on analyzing factors such as agriculture and globalization (de jure trade and financial) that threaten a sustainable environment using two proxies of ecological footprint: carbon and noncarbon ecological footprint in the Philippines while controlling for the influence of fossil to GDP, economic growth, urban population, and financial development using the autoregressive distributed lag (ARDL) framework. The result provides evidence of long-run stable state among the variables. The result validates inverted U-shaped pattern of EKC involving relationship between agricultural development and ecological footprint for the Philippines indicating that initially, ecological footprint increases as the agriculture develops and then declines as the agriculture matures to generate efficiency and low carbon. In addition, this study explores elasticities of the variables using ARDL, FMOLS, DOLS, and CCR procedure and found that de jure financial globalization exerts positive influence on ecological footprint in the long run. De jure trade globalization is found to be negative and significant in the long run. It is also found that agricultural level operates below the threshold level required to maximize the growth benefits of agricultural system towards mitigating environmental sustainability. Further empirical result shows a positive relationship between economic growth, fossil fuel, urban-population growth, and ecological footprint, and negative insignificant relationship between credit to private sector and ecological footprint. The government should optimize the use of agricultural land through well-articulated economic integration strategy fashioned to pave way for cleaner and low-carbon technologies sources like solar, geothermal, biomass, biogas, tidal power, photovoltaic, and wind energy in the agricultural production to avoid further deterioration of the environment.
本研究旨在分析农业和全球化（法定贸易和金融）等因素，这些因素通过使用碳和非碳生态足迹这两个代理变量来威胁可持续环境，并控制化石燃料对 GDP、经济增长、城市人口和金融发展的影响，使用自回归分布滞后 (ARDL) 框架。结果提供了变量之间存在长期稳定状态的证据。结果验证了菲律宾农业发展与生态足迹之间存在倒 U 型 EKC 关系，表明最初，随着农业的发展，生态足迹会增加，然后随着农业的成熟，效率和低碳会降低。此外，本研究使用 ARDL、FMOLS、DOLS 和 CCR 程序探索了变量的弹性，发现法定金融全球化从长期来看对生态足迹产生积极影响。法定贸易全球化从长期来看是负面且显著的。研究还发现，农业水平低于最大化农业系统增长效益以缓解环境可持续性所需的门槛水平。进一步的实证结果表明，经济增长、化石燃料、城市人口增长与生态足迹之间存在正相关关系，而信贷与私人部门与生态足迹之间呈负相关且不显著。政府应通过精心制定的经济一体化战略优化农业用地的利用，为太阳能、地热能、生物质、沼气、潮汐能、光伏和风能等清洁和低碳技术来源铺平道路，以避免环境进一步恶化。
