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Climate change has emerged as a global challenge because of its threat to sustainable
development goals. Economic development is responsible for climate change as well as it
is complementary to sustainability. Hence, environmental Kuznets curve (EKC)
hypothesis is central to the development plans and formulation of climate change policy.
However, the evidence on EKC is largely conflicting because it is provided using narrow
measures of environment, small samples, short time durations and ignoring updated
estimation methods. This study reinvestigates the EKC by exploiting the lager panel data
set, covering a longer time horizon more than half century (1961-2018) and using
ecological footprint as a comprehensive environmental indicator and employing firstgeneration and second-generation panel time’s series methods. The study sample
comprises 20 upper-income countries (UICs), 36 middle-income countries (MICs) and 20
low-income countries (LICs). The results conclude the presence of cross-sectional
dependence, unit root at level and long run relationship among the variables allowing for
long run estimates. The findings of different estimators validate an inverted U-shaped
EKC for UICs while U-shaped EKC for MICs and LICs, respectively. The results of
fixed effects quantile (FEQ) estimates suggest that the scale and technique effects depend
upon the existing levels of EFP within and across different groups of countries according
to development level and regional location. Moreover, the role of biocapacity, human
capital, and trade is conducive in managing global EFP. The findings imply that global
environmental policies need to be aligned with the heterogeneity of different groups of
countries.
Muhammad Tariq Majeed , Maria Mazhar. (2020) Reexamination of Environmental Kuznets Curve for Ecological Footprint: The Role of Biocapacity, Human Capital, and Trade, Pakistan Journal of Commerce and Social Sciences, Volume 14, Issue 1.
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