Unveiling the Role of Business Freedom to Determine Environmental Degradation in Developing Countries


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Authors

  • Marc Audi 1Abu Dhabi School of Management (ADSM), UAE; & University Paris 1 Pantheon Sorbonne, France
  • Amjad Ali The European School of Leadership and Management (ESLM), Belgium; & Lahore School of Accountancy and Finance, University of Lahore, Pakistan.

DOI:

https://doi.org/10.32479/ijeep.14656

Keywords:

renewable energy consumption, business freedom, environmental degradation

Abstract

Presently, environmental degradation is the prime concern of the world economies as a whole. Following this concern, Sustainable Development Goals designed by the UNDP raise the slogan “Clear Environment for All”. This paper has analyzed the impact of business freedom on environmental degradation in the case of 110 developing countries from 2000 to 2020. Panel least squares and generalized moments methods have been applied to check the impact of explanatory variables on dependent variables. The results show that business freedom and renewable energy consumption have a negative and significant impact on environmental degradation in selected developing countries. The results explain that financial development has a positive and significant impact on environmental degradation in developing countries. Whereas urbanization has a positive and significant impact on environmental degradation. Thus, for the reduction of environmental degradation business freedom and renewable energy consumption should be promoted, whereas negative linkages of urbanization and financial development should be reduced.

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Published

2023-09-16

How to Cite

Audi, M., & Ali, A. (2023). Unveiling the Role of Business Freedom to Determine Environmental Degradation in Developing Countries. International Journal of Energy Economics and Policy, 13(5), 157–164. https://doi.org/10.32479/ijeep.14656

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Section

Articles