Jurnal Ekonomi Pembangunan
Vol. 20 No. 2 (2022): Jurnal Ekonomi Pembangunan

Does Globalization Worsen Environmental Quality in ASEAN Countries?

Stannia Cahaya Suci (Department of Economics, Faculty of Economics & Business, Universitas Sultan Ageng Tirtayasa)
Vadilla Mutia Zahara (Department of Economics, Faculty of Economics & Business, Universitas Sultan Ageng Tirtayasa)
Rah Adi Fahmi Ginanjar (Department of Economics, Faculty of Economics & Business, Universitas Sultan Ageng Tirtayasa)
Cep Jandi Anwar (Department of Economics, Faculty of Economics & Business, Universitas Sultan Ageng Tirtayasa)



Article Info

Publish Date
15 Jan 2023

Abstract

The era of globalization, which is characterized by integration between economies, increases world output, but environmental damage becomes an important concern to achieve sustainable growth. Therefore, this study intends to estimate the impact of globalization in economic, social side and political terms together with the variables of GDP per capita, financial development and energy spending on carbon emissions and to prove the presence of Kuznets Environmental Curve Hypothesis in ASEAN using panel data over 2000-2019 period. The results of the study proved that globalization, especially social globalization, and energy consumption have role in escalating environmental damage. GDP per capita is found in the reduction of carbon emissions but financial development was discovered to have no significant impact on increasing carbon emissions. This study does not prove the presence of EKC. Hence, this proposes crucial implications for policy makers. These findings suggest that the policy makers to make sustainable energy development strategies while increasing regional income and economic development through globalization.

Copyrights © 2022






Journal Info

Abbrev

jep

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Ekonomi Pembangunan is a peer-reviewed journal that provides a forum for scientific works pertaining to Development Economics. Published twice in a year (June and December). This Journal has p-ISSN 1829-5843, and e-ISSN 2685-0788. This journal was first published since June 2003 by the ...