ASSOCIATION BETWEEN POST-COVID SOCIO-ECONOMIC DEVELOPMENT AND ENERGY-GROWTH- ENVIRONMENT NEXUS FROM DEVELOPING ECONOMY

Abstract

The purpose of the present study is to evaluate the relationship between socio-economic development and environmental degradation. The analysis spans the years 1990 to 2018. Long-term causality of CO2 emissions is observed, but a short-term basis exists between feedback variables. The results demonstrated a favorable association between the selected constructs. In addition, Variance decomposition analysis results revealed that GDP contributed 3% to 14% to future CO2 emissions fluctuations; energy consumption was 3% to 14%; renewable energy use ranged from 1% to 3.4%; the proportion of tourism ranged from 4.2% to 10%; and the proportions of receiving improved water, sanitation, and electricity were 33.3%, 1.12%, and 2.01%, respectively. In addition, the research concludes with substantial policy implications for sustainable development that would assist practitioners in enhancing sustainable growth.