Abstract:
Environmental pollution is a critical factor worldwide due to the enhanced
frequency and the severity of natural disasters and catastrophes and it crucially
affects the survival of the universe. Hence the study focused on the impact of
economic growth on environmental pollution. This research study
comparatively analyzes the impact of economic growth on environmental
pollution in developed and developing countries and it investigates the impact
of economic growth and environmental pollution. The study incorporated a
data series over the period of 1980-2022 of 50 countries. The panel data
regression analysis employed in this study to analyze the impact of economic
growth and the environmental pollution which are proxied using the Gross
Domestic Product Growth rate and the Carbon Emissions (CO2) metric tons
per capita with the control variable incorporated the energy consumption. In
addition, the researchers assessed the Environmental Kuznets Curve (EKC)
theory in the study to provide an in depth understanding on the studying field.
Further the study revealed that the significant positive impact of the economic
growth on the environmental pollution over the developing countries. The
study supports the validity of the EKC theory in explaining the relationship
between economic growth and environmental degradation. Hence,
establishing environmentally friendly economic policies and practices are
highly appreciated to lower environmental pollution and to shrink the adverse
effects of the impact of economic growth on environmental pollution in the
developing countries. These research findings highlight the importance of
sustainable practices, environmental regulations, and collaborative efforts to
mitigate the negative impacts of economic development on the environment.
This study serves as a foundation for future research in this critical area to
have a sustainable environment in the future while having a coherence
between the lower emission rates and the higher economic growth rates.
