Towards Sustainability: Understanding Norway’s Ecological Footprint Through the Framework of the Environmental Kuznets Curve DOI Creative Commons
Irina Georgescu, Ionuț Nica, Jani Kinnunen

et al.

Energies, Journal Year: 2024, Volume and Issue: 17(23), P. 6074 - 6074

Published: Dec. 2, 2024

With rising concerns about environmental sustainability, examining the economic-environmental nexus is essential. This study investigates relationship between economic growth (GDP), renewable energy consumption (RENC), urbanization (URB), and foreign direct investment (FDI) with Norway’s ecological footprint from 1990 to 2023. Guided by Environmental Kuznets Curve (EKC) hypothesis, we aim understand how these factors influence impact over time. Using an Autoregressive Distributed Lag (ARDL) model, captures both short- long-term effects of variables on footprint, model stability confirmed through Cumulative Sum Squares (CUSUM) test. The findings reveal a U-shaped EKC pattern, where initial reduces but beyond certain GDP threshold, pressures increase. Renewable shown lower significantly, supporting sustainability goals. Conversely, FDI associated increased impact, potentially due resource-intensive projects. These insights underscore need for balanced policies that harmonize development preservation. Policymakers are encouraged foster green FDI, prioritize investments, implement sustainable urban planning maintain trajectory toward sustainability.

Language: Английский

Towards Sustainability: Understanding Norway’s Ecological Footprint Through the Framework of the Environmental Kuznets Curve DOI Creative Commons
Irina Georgescu, Ionuț Nica, Jani Kinnunen

et al.

Energies, Journal Year: 2024, Volume and Issue: 17(23), P. 6074 - 6074

Published: Dec. 2, 2024

With rising concerns about environmental sustainability, examining the economic-environmental nexus is essential. This study investigates relationship between economic growth (GDP), renewable energy consumption (RENC), urbanization (URB), and foreign direct investment (FDI) with Norway’s ecological footprint from 1990 to 2023. Guided by Environmental Kuznets Curve (EKC) hypothesis, we aim understand how these factors influence impact over time. Using an Autoregressive Distributed Lag (ARDL) model, captures both short- long-term effects of variables on footprint, model stability confirmed through Cumulative Sum Squares (CUSUM) test. The findings reveal a U-shaped EKC pattern, where initial reduces but beyond certain GDP threshold, pressures increase. Renewable shown lower significantly, supporting sustainability goals. Conversely, FDI associated increased impact, potentially due resource-intensive projects. These insights underscore need for balanced policies that harmonize development preservation. Policymakers are encouraged foster green FDI, prioritize investments, implement sustainable urban planning maintain trajectory toward sustainability.

Language: Английский

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