Investigating the long run relationship between Ecological footprint and an index of Wellbeing: Focus on Asian experience
Author(s):
Dr. Swati Sinha Babu
Keywords:
Ecological Footprint, Physical Quality of Life Indicator, Unit root, Cointegration, Sustainability, Asia
Abstract
The study has examined whether the Ecological Footprint (EF) shows a trend towards sustainable development using data from 9 Asian countries (India, Pakistan, Bangladesh, Nepal, China, Indonesia, Myanmar, Malaysia and Philippines), covering annual observations from 1980 to 2008. We have also constructed Physical Quality of Life Indicator (PQLI) as an index of wellbeing and we find upward trends in both EF and PQLI for individual countries as well as all considered countries in the Asian regions over the time period. Moreover, the panel unit root results of Levin, Lin & Chu t, Im, Pesaran and Shin W-stat, ADF - Fisher Chi-square, PP - Fisher Chi-square test confirm non-stationarity at level but stationarity at first difference. We have also tested for cointegrating relationship between EF and PQLI using the Pedroni Residual Cointegration Test, Kao Residual Cointegration Test and Johansen Fisher Panel Cointegration Test. All the tests indicate the presence of long run cointegrating relationship between EF and PQLI. Thus we can confirm that there is long term relationship between environmental degradation and wellbeing. Lastly, suggestions have been provided for attaining the desired goal of better sustainable society.
Article Details
Unique Paper ID: 156764

Publication Volume & Issue: Volume 5, Issue 4

Page(s): 389 - 400
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