Abstract
Urbanization and industrialization are key factors of economic growth in most of countries which required
a lot of energy use, but all the variables are the threat to environmental degradation. The present work is
an attempt to test empirically the impact of urbanization, industrialization, growth of economy and energy
consumption in four highly populated Asian countries (China, India, Indonesia, Pakistan). The study
collected panel data for the span of 1975 to 2018. This study adopted Panel Cointegration and Granger
causality technique. The estimates of panel cointegration confirmed long run cointegration between
urbanization, industrialization, economic growth, energy consumption and environmental degradation. In
addition, the results confirmed positive impact of energy consumtion and economic growth on CO2
emissions which means that both the variables are harmful for environment in the long term. Furthermore,
urbanization as well as industrialization is demonstrating negative influence the emissions of CO2 which
suggests urbanization and industrialization not have negative effect environment in the selected countries,
in the long term. The results of granger causality test confirm three uni-directional causalities as well as
three bi-directional causalities among the variables. On the basis of the study results, efficieny in enrgy use
is the must for sustainable development and environment in the selected countries.
SHABANA PARVEEN, SOHAIL FAROOQ, BIBI AISHA SADIQA, Dr. SHER ALI. (2020) Urbanization, Industrialization, Economic Growth, Energy Consumption and Environmental Damage Nexus: Evidence from Four Highly Populated Asian Countries, International Review of Management and Business Research, Volume 9, Issue 2.
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