Connecting the Carbon Ecological Footprint, Economic Globalization, Population Density, Financial Sector Development, and Economic Growth of Five South Asian Countries

Abstract

We investigate the connection between the carbon ecological footprint, economic globalization, population density, financial sector development, and economic growth in five South Asian nations from 1971 to 2019. Using a panel autoregressive distributed lag model, we find that population density, economic growth, and economic globalization positively affect the carbon ecological footprint in the long run. However, financial development is inversely related to the carbon ecological footprint at a 10% statistical level of significance.