Investigating the subsistence of Environmental Kuznets Curve in the midst of economic development, population, and energy consumption in Bangladesh: imminent of ARDL model

Abstract

The main purpose of this study is to analyze the existence of an environmental Kuznets curve (EKC) considering the midst of energy consumption, population and economic development. The main objective is to investigate the impact of energy consumption, population and economic development on CO2 emissions. This study has taken data from 1971 to 2020 to see the existence of an EKC in the country of Bangladesh. Besides population growth, energy consumption and economic development are also taken into consideration. An autoregressive distributed lag (ARDL) model was used to scrutinize cointegration based on selected variables and their respective I (0) and I (1) values. This study has confirmed the long-term existence of the EKC in the environment. The environmental Kuznets curve was also tested using economic performance coefficients on emissions. In the long run, EKC explains why per capita carbon output decreases with population expansion but turns down after a certain threshold level is achieved because of this inverted U-shaped pattern. For decades, increased energy consumption has been linked to worsening environmental conditions, according to this study. According to the findings, there are a wide variety of approaches to advancing Bangladesh's economy and improving its environmental quality. In the long run, the population has no positive impact on CO2 secretion. The use of fossil fuels such as gas and oil can have a detrimental environmental impact. As a result, if we want to conserve the environment, we need to use renewable energy sources like solar and biodiesel instead of traditional, nonrenewable fuels.

Keywords

• ARDL
• CO2 emission
• EKC
• Energy consumption
• Environmental population