Modelling an empirical framework of the implications of tourism and economic complexity on environmental sustainability in G7 economies. (20th November 2022)

• Record Type: Journal Article
• Authors: Ghosh, Sudeshna; Balsalobre-Lorente, Daniel; Doğan, Buhari; Paiano, Annarita; Talbi, Besma
• Is Part Of: Journal of cleaner production. Volume 376(2022)
• Publication Date: 2022-11-20
• Subjects: International tourism-environment linkage -- Ecological footprints -- Carbon footprints -- FMOLS -- DOLS -- Causality tests; Factory and trade waste -- Management -- Periodicals; Manufactures -- Environmental aspects -- Periodicals; Déchets industriels -- Gestion -- Périodiques; Usines -- Aspect de l'environnement -- Périodiques; 628.5
• DOI: 10.1016/j.jclepro.2022.134281
• Languages: English
• ISSNs: 0959-6526

Abstract

Abstract: This study explores the association between economic complexity (ECI), tourism, urbanization, globalization, natural resources and renewable energy on carbon dioxide emissions, ecological footprint and carbon footprint in the framework of the Environmental Kuznets Curve in the context of the G7 countries for the period 1990 to 2018. The study has employed second-generation cointegration methods. The results from the F.M.O.L.S. and D. O.L.S. methods describe the mitigating impacts of tourism on the dilapidation of the environment. Further, the Environmental Kuznets Curve is verified in the context of the G7 countries. The ECI reduces ecological footprint in the long run for the G7 countries but enhances carbon dioxide emissions. The empirical outcomes based on Dumitrescu and Hurlin Panel Granger causality test describe that any policy direction to increase tourism, renewable energy, economic growth, and urbanization has a considerable impact on the quality of the environment. The robustness tests confirm the model specifications. Based on the rigorous empirical discussion, we suggest that tourism, renewable energy and globalization would help to alleviate environmental degradation in the G7 countries. The study concludes with important policy suggestions against the backdrop of Sustainable Development. Highlights: Explored the climate vulnerability nexus by exploring the tourism industry. On panel data sets of the G7 countries from 1990 to 2018. Environment degradation indicators: carbon dioxide, ecological and carbon footprint. Explored the role of EKC. Used second generation panel estimation methods.