Department of Economics, University of Karachi, Karachi, 75270, Pakistan.
Department of Mechanical Engineering, NED University of Engineering and Technology, Karachi, 75270, Pakistan.
Environ Sci Pollut Res Int. 2023 Mar;30(12):33992-34008. doi: 10.1007/s11356-022-24607-z. Epub 2022 Dec 12.
South Asia is primarily affected by environmental degradation. As a result, it is worthwhile to explore the impact of international capital flows on the ecological sustainability of the South Asian region. There are many studies in the literature on the CO-remittances nexus, CO-FDI nexus, and CO-economic growth; however, no study has yet taken remittances and FDI into account in the symmetric and asymmetric model for the South Asian region. To address the research gap, this study investigates the effect of international capital flows, fossil fuel energy consumption, and economic growth on South Asian carbon emissions. This study examines the effect of fossil fuel energy consumption, remittances, foreign direct investment, and economic growth on the environmental sustainability of the South Asian region from 1975 to 2020. Autoregressive distributive lag (ARDL) and non-linear ARDL (NARDL) models are used to estimate the symmetrical and asymmetrical relationships among the variables. The findings of the ARDL models reveal that fossil fuel energy consumption and economic growth increase while remittances and FDI decrease carbon dioxide (CO) in the long run. According to the NARDL empirical findings, positive remittances and negative FDI shock reduce CO. Besides, the positive and negative fossil fuel energy consumption shock increases CO. Moreover, the positive (negative) economic growth shock increases (decreases) CO. The cumulative dynamic multipliers revealed the adjustment pattern to new long-run equilibria. The study recommends that policymakers regard remittances and FDI as policy instruments, particularly when developing long-term strategies and policies connected to environmental quality.
南亚主要受到环境恶化的影响。因此，探讨国际资本流动对南亚地区生态可持续性的影响是值得的。文献中有许多关于 CO-侨汇关系、CO-FDI 关系和 CO-经济增长的研究；然而，还没有研究在对称和非对称模型中考虑侨汇和外国直接投资对南亚地区的影响。为了解决研究空白，本研究调查了国际资本流动、化石燃料能源消耗和经济增长对南亚碳排放的影响。本研究从 1975 年到 2020 年，考察了化石燃料能源消耗、侨汇、外国直接投资和经济增长对南亚地区环境可持续性的影响。使用自回归分布滞后 (ARDL) 和非线性自回归分布滞后 (NARDL) 模型来估计变量之间的对称和非对称关系。ARDL 模型的结果表明，从长期来看，化石燃料能源消耗和经济增长增加，而侨汇和外国直接投资减少二氧化碳（CO）。根据 NARDL 实证结果，积极的侨汇和消极的外国直接投资冲击减少 CO。此外，化石燃料能源消耗的正向冲击和负向冲击增加 CO。此外，正向（负向）经济增长冲击增加（减少）CO。累积动态乘数揭示了对新长期均衡的调整模式。研究建议政策制定者将侨汇和外国直接投资视为政策工具，特别是在制定与环境质量相关的长期战略和政策时。
