
Discover Sustainability, Journal Year: 2024, Volume and Issue: 5(1)
Published: Nov. 25, 2024
In recent years, the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) region has faced pressing environmental concern, containing deforestation, pollution, biodiversity depletion, increasing vulnerability to change. Since many member countries depend highly on Bengal's ecosystem livelihoods economic activities, addressing such challenges is crucial sustainable development. This research examines impacts forestry, urbanization, financial inclusion load capacity factor (LCF) in period 2000–2022. The study seeks understand factors influencing regional LCF using econometric methods, as cross-sectional dependence, slope homogeneity tests, second-generation unit root panel cointegration analyses. Driscoll Kraay Standard Error (DKSE) method reveals a U-shaped connection between income LCF, supporting hypothesis Load Capacity Curve (LCC) BIMSTEC zone. result indicates strong positive connections while highlighting adverse effects inclusion. Additional quantile regression (QR) analysis validation confirms steady association across various quantiles. highlights benefits forestry urbanization drawbacks population size. suggests promoting balanced urban development, cautious inclusion, management, providing insights policymakers develop strategies resilience prosperity region.
Language: Английский