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A step towards environmental mitigation: Do tourism, renewable energy and institutions really matter? A QARDL
Zhan Zhan1, Liaqat Ali2, Salman Sarwat3
1Wuchang University of Technology, Wuhan, Hubei, China.
Abstract:
Adverse changes in environmental conditions due to unprecedented industrialization have been attracting the attention of policymakers, researchers, and activists. For developing nations like Pakistan, sustainability issues become even more severe because of unplanned growth and lack of resources. In this study, we have applied the QARDL model to analyze the impact of renewable energy, institutional quality, tourism, and GDP on the ecological footprint in Pakistan from 1995 to 2017. The results of this study suggest that increased utilization of renewable energy and tourism improve the environment in Pakistan, whereas institutional quality and GDP are positive and significant at all quantiles, revealing that upsurge in GDP and institutional quality are directly related to environmental conditions at all the quantiles. These results also validate the presence of the Environmental Kuznets Curve in Pakistan. The government of Pakistan can play a notable part in attaining sustainability by efficient management of the environment through promoting sustainable tourism, utilization of renewable energy, and enhancement of institutional quality.
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