Nexus between Economic Growth and Environmental Degradation: An Analysis from Developing Countries

Abstract

Naturally, human beings unceasingly search for change and are involved in small or huge commercial actions that are intended to achieve the fundamental needs and protect their interests in any credible way. Considering the significance of the environment, we have emphasized the economic factors, human development, and energy consumption affecting environmental degradation in developing nations. We have used data from 2001 to 2022 and employed the fixed effect method for the analysis. The study results showed that energy consumption and human development resulted in more environmental degradation in developing countries. The results also showed that economic growth and trade openness tended to increase environmental degradation. The study suggested more improvement in the environment in these economies. There should be more usage of safe and clean energy in production processes for a clean environment. Furthermore, the Government should provide more educational facilities and jobs to different segments of the population for their higher earnings and improved living standards.  Finally, there is a dire need for more provision of energy resources for more growth, production, and welfare in these Asian countries.