الگوی یکپارچه برای توسعه پایدار: مطالعه داده پانل
|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|29460||2013||9 صفحه PDF||سفارش دهید||7280 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Economic Modelling, Volume 30, January 2013, Pages 334–342
The concept of sustainable development requires countries all over the world to use their natural resources rationally while pursuing their economic development, and at the same time to consider the quality of environment as a determinant of their societies’ welfare. First, the method of principle component analysis and composite indicators are adopted to construct an overall sustainable development index and resource intensity measure using Millennium Development Goals (MDG) and World Development Indicator Data. Second, this paper applies an integrated paradigm to investigate the relationship between natural resource availability, economic growth, and the environment using a panel of 62 countries over the period 1990–2007. This interlocking relationship is analyzed through estimating the Resource Curse Hypothesis model and the Environmental Kuznets Curve model simultaneously while taking into consideration an important dimension—namely institutional quality. The results suggest that the way countries are dealing with sustainability in the context of MDG is negatively affecting the quality of the environment. Moreover, it proposes that countries with good institution quality are not taking the environmental problems seriously.
In the developing world, there is a clear tradeoff between economic growth and environmental security. In the early stages of development, sustainability is difficult to maintain as countries try to achieve capital accumulation, with basic human needs being prioritized over environmental protection. Later, as development is attained, human capital, wealth and strong institutions mean that the industrial processes are likely to use fewer natural resources and produce less pollution. Following the approach of Costantini and Monni (2008), this paper revisits the relationship between natural resource availability, economic growth and the environment, using an integrative paradigm and a panel of 62 countries during the years 1990–2007. This is implemented through combining the Resource Curse Hypothesis model (RCH), which focuses on the impact of resource abundance on economic growth, with the Environmental Kuznets Curve (EKC), which considers the effect of economic growth on environment. Moreover, institutional quality is considered as an extra aspect in the system of equations. The RCH literature is based on the empirical model proposed by Sachs and Warner (1997). This model was based on endogenous growth theory with a Dutch disease feature. Sachs and Warner (1997) stressed the idea that a negative relationship between natural resource abundance and economic growth imposed a conceptual puzzle, as it was expected that resource abundance should increase investment and thereby growth rates. However, what was noticed was that resource-poor economies were the world's star performers like Korea, Taiwan and Hong Kong, while many resource-rich economies underwent adverse reactions in growth during the 1970s and 1980s. Other authors built on this model by adding or altering different independent variables and different econometric methodologies. Therefore, the RCH model's structure is based on growth rate of per capita income as a dependent variable and independent variables such as initial per capita, trade policy, government efficiency, and investment rates. On the other hand, the theory suggests that EKC has an inverted U-shape curve relating economic growth to environmental degradation such as air pollutants, river quality, carbon emissions, and deforestation. Different studies could not establish the hypothesized inverted U-shaped relationship for all kinds of indicators. This paper aims at extending the study implemented by Costantini and Monni (2008) that relates the three above mentioned dimensions within a cross-country framework to a simultaneous panel equation construction. These empirical results will provide further means of recognizing the interrelation between natural resources, economic growth and the environment and the importance of understanding these links for sustainable development. Moreover, it provides input for policy debates over sustainable development paths that satisfy countries’ needs while preserving the environment for future generations for developing countries. The remainder of the paper is organized as follows. Section 2 first sheds light on RCH and EKC literature. Section 3 portrays the research methodology. In Section 4, the data used is described and the construction of indices measuring the dimensions of sustainability and resource intensity is illustrated. The estimation results are presented in Section 5. Section 6 concludes while offering some policy recommendations.
نتیجه گیری انگلیسی
In this paper, the growth–environment relationship is analyzed. The main conclusion is that an interlocking relationship exists between natural resource availability, economic growth, and the environment. The results support the idea proposed by Giddings et al. (2002) that these three dimensions have to be represented as three interconnected rings that are all needed to reach sustainable development. However, the concept of sustainable development paths that satisfy countries’ needs while preserving the environment for future generations is not met. In addition, a resources curse seems to exist, which negatively affects environment quality. The curse arises from both mineral and fuel exports. The paper also finds evidence that countries are focusing on sustaining the social and economic dimension of sustainable development without taking the environmental dimension seriously. Therefore, an empirical framework that takes into consideration economic growth and environment quality, given the quality of institution, is essential. Given the analysis, the following country level policies may be suggested. Countries have to focus on having a better rule of law in order to improve institution quality. However, a warning should be given to countries with good institution quality since the analysis revealed that they are not taking environment quality seriously. Another important result is that education subsidies have a direct impact on institution quality and low investment in education negatively affects growth. Therefore, it is recommended that governments spend more on education in order to accumulate human capital for the future. Moreover, the investment rate and foreign direct investment are found to directly force higher level of economic growth. Consequently, countries must have higher levels of gross capital formation and encourage foreign capital investment to take place using local resources. Last but not least, after the analysis of the results, we urge future studies to take into consideration the endogeneity problem and adopt panel datasets in order to improve the efficiency of econometric estimates.