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• Open Access Article

  18 Pages Download PDF: Drivers of Carbon Emissions in South Asia: Analyzing Economic Growth, Urbanization, Tourism, Industrialization, and Renewable Energy

  Drivers of Carbon Emissions in South Asia: Analyzing Economic Growth, Urbanization, Tourism, Industrialization, and Renewable Energy

  Rehana Kousar, Muhammad Sharyar, Mahnaz Muhammad Ali, Rana Sharjeel Akhtar

  2025-06-22 https://doi.org/10.36923/jcmi.v6i1.617

  Rising CO₂ emissions pose a global challenge, including in South Asia. This study examines the determinants of CO₂ emissions—economic growth, urbanization, tourism, industrialization, renewable energy, agriculture, and forest area—using panel data (1990–2021) from South Asian countries. Dynamic Ordinary Least Squares (DOLS) and panel unit root tests reveal long-run relationships. Urbanization, tourism, and agricultural value-added significantly increase CO₂ emissions, while economic growth, renewable energy, and forest area negatively correlate with emissions. The findings suggest that energy-intensive urbanization, tourism, and agricultural expansion drive emissions, whereas renewable energy adoption and forest conservation mitigate them. Policymakers must prioritize sustainable urbanization, green tourism, and renewable energy transitions to curb emissions while fostering economic development.

  pp. 14-31 Abstract views:273 Downloads:146

• Open Access Article

  19 Pages Download PDF: The Role of Energy Investment in Promoting Economic Sustainability in Developing Countries: A CS-ARDL Analysis

  The Role of Energy Investment in Promoting Economic Sustainability in Developing Countries: A CS-ARDL Analysis

  Aqeel Ahmad, Tusawar Iftikhar Ahmad, Asma Sajjad, Sajjad Ali

  2025-12-30 https://doi.org/10.36923/jcmi.v6i2.673

  Energy investment plays a pivotal role in promoting economic sustainability through a reliable energy supply to support industrial production and innovation. The current work investigates the difference in energy investment and economic sustainability between 1990 and 2022 for 88 developing countries with an income classification. Using the Cross-Sectional Autoregressive Distributed Lag (CS-ARDL) methodology, the research simultaneously tests short- and long-run dynamics while explicitly modeling cross-sectional dependence. The results suggest that although labor force participation, capital formation, human capital, and foreign direct investment have positive impacts on economic sustainability across income levels, energy investment, especially when used for creating public-private partnerships, fosters economic growth in middle-income economies but has a negative correlation with low-income economies. Policy implications drawn from the findings indicate that boosting investment in the energy sector, with special focus on the use of renewable technologies in low- income countries, would be an effective strategy for promoting sustainable development.

  pp. 75-93 Abstract views:144 Downloads:90

• Open Access Article

  17 Pages Download PDF: Innovating for a Greener Future: Assessing the Impact of Renewable Energy, Resource Efficiency, and Technology on CO₂ Emission Reduction

  Innovating for a Greener Future: Assessing the Impact of Renewable Energy, Resource Efficiency, and Technology on CO₂ Emission Reduction

  Mahnaz Muhammad Ali, Rehana Kousar, Mahrukh Ruba, Samar Abbas, Qurat Ul Ain

  2025-12-30 https://doi.org/10.36923/jcmi.v6i2.675

  This paper explores how CO2 is emitted in 30 developing Asian economies. Such countries differ in terms of income levels, such as low, middle, and high income, and the years between 1990 and 2022 are included in the study. It employs a powerful econometric model in which both the System Generalized Method of Moments (GMM) is used to overcome dynamic endogeneity and Two-Stage Least Squares (2SLS) is used to overcome potential reverse causality. This integrated methodology serves well to investigate the impacts of renewable energy use, the availability of natural resources, and technological innovation on the level of emissions. These findings of the study demonstrate a complex dynamic. There is presently a positive relationship between technological innovation and the rise in emissions, which can be attributed to the fact that technology is used to streamline the industrialization process that uses fossil fuels on a large scale. On the contrary, renewable energy and natural resources also contribute to the decrease in CO2 emissions. One of the biggest revelations is that production-oriented industrialization, particularly after China's entry into the WTO in 2001, has contributed greatly to the growth in global emissions. Since, in most cases, the area lacks powerful and effective environmental laws, this study emphasizes the necessity of modifications in policy. Steps such as promoting green innovation technology and introducing a price on carbon are crucial to uncoupling economic growth and emissions and creating an efficient global climate policy.

  pp. 94-110 Abstract views:4156 Downloads:80

• Open Access Article

  14 Pages Download PDF: Extending Okun's Law to encompass the governance-unemployment nexus: New Insights from PMG/ARDL Approach

  Extending Okun's Law to encompass the governance-unemployment nexus: New Insights from PMG/ARDL Approach

  Muhammad Umar Farooq, Abdul Majeed Nadeem, Qasim Ali

  2025-06-29 https://doi.org/10.36923/jcmi.v6i1.636

  This study has empirically aimed at estimating the short-and long-term dynamics of financial and institutional factors with respect to the unemployment rate in the case of the selected developing economies over the period of 1996-2023. The second-generation empirical analyses, such as cross-sectional dependence and unit-root analysis, support the use of pooled mean group regression analysis. The empirical outcomes of the pooled mean group regression have confirmed the existence of Okun’s law in the influence of a rise in control of corruption, government effectiveness, and political stability to reduce the unemployment rate in this region. Among the financial factors, the economic growth-unemployment rate nexus significantly validates the existence of Okun’s law. Further, the exchange rate is also highly significant in decreasing the unemployment rate in this region. However, the negative impact of the interest rate and the positive effect of broad money growth are surprisingly significant in affecting the unemployment rate and contradict the literature. Surprisingly, the institutional factors are more responsive to the unemployment rate compared with financial indicators. These outcomes suggest important policy implications regarding institutional and financial factors to control the unemployment rate in these economies

  pp. 68-81 Abstract views:187 Downloads:273

• Open Access Article

  13 Pages Download PDF: Asymmetric Approach to Investigating the EKC hypothesis: Evidence from the BRICS Countries

  Asymmetric Approach to Investigating the EKC hypothesis: Evidence from the BRICS Countries

  Misbah Nosheen, Muhammad Ali Abbas, Shehzad Ahmad, Javed Iqbal

  2025-06-22 https://doi.org/10.36923/jcmi.v6i1.598

  Environmental challenges have emerged as one of the most critical matters affecting the globe today. Human-caused carbon emissions are the primary cause of these environmental challenges, and in order to decrease and mitigate their impacts, officials throughout the world are constantly researching their drivers and determinants. BRICS is considered a significant part of the world economy and energy markets. This study examines the EKC hypothesis for the BRICS while applying a nonlinear ARDL approach that distinguishes it from previous studies. For this purpose, this study decomposes the per-capita income (GPC) series into two components: the positive and the negative series. Empirical findings indicate that in the decomposed model, the coefficients of the positive series of GPC and GPC2 have significant negative and positive signs, respectively, in all countries of the region, which supports the EKC hypothesis. Results imply that BRICS governments need to focus on reducing their very considerable dependence on fossil fuels. The clean energy evolution can lead to the abandonment of fossil fuel assets, including those retained or supported by governments.

  pp. 1-13 Abstract views:199 Downloads:123