The impact of globalization on ecological footprint: empirical evidence from the South Asian countries.

This study aims to investigate the effect of economic globalization and technological changes on the environmental degradation of the South Asian countries over the time span of 1975-2017. Westerlund (Oxf Bull Econ Stat 69:709-748, 2007) cointegration test is employed to estimate the presence of long-run relationship between globalization, technological changes, and environmental degradation. To determine the validity of the Environmental Kuznets Curve, this study employs panel autoregressive distributional lag (ARDL) model. Empirical findings of this study yield the inverted U-shaped association between globalization, technological changes, and environmental degradation which validate that EKC holds in the South Asian countries. The results indicate that the measures of globalization such as FDI, trade openness, and KOF index have positive and statistically significant effect on ecological footprint. However, technological changes measured as patents registered by residents have an insignificant impact on environmental quality. This study infers that the globalization has increased environmental degradation through unsustainable economic development in South Asian countries. These countries should shift to renewable energy resources to protect the environment and mitigate greenhouse gas emissions.