Designing hydro-energy led economic growth for pollution abatement: evidence from BRICS
Devi Prasad Dasha, Aruna Kumar Dashb✉, Narayan Sethic✉
- aSchool of Management and Entrepreneurship, Indian Institute of Technology, Jodhpur, Rajasthan, 342037, India
- bDepartment of Economics, IBS Hyderabad, IFHE University, IBS Hyderabad-501 203, Telangana, India
- cDepartment of Humanities and Social Sciences, National Institute of Technology Rourkela, Rourkela, 769008, Odisha, India
- ✉Corresponding author
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Abstract
Overutilized hydro-energy production through non-sustainable mode is detrimental for both the economy and the environment. Intermittent consumption of hydro-energy from non-sustainable production methods may induce deleterious impacts in terms of rapid pollution in the economy. This paper investigates the impacts of hydro-power consumption upon pollution for 5 BRICS countries from 1965 to 2019. Our balanced panel model shows that infrequent usages of hydro-power consumption led to more pollution over the year. This relation is also further explained by considering several macroeconomic factors, in the context of the growth scenario. Our empirical findings show that an increase in population and consequent rise in per capita income have exhibited positive impacts on pollution. Even, improved industrialized led production and investment in these economies contribute heavily towards pollution and declined environmental standards. Our results further state that intermittent usages of natural resources by population in terms of rising ecological footprint have resulted in higher emission intensity over the year. These findings underscore how rising hydro-power energy consumption has led to the rising pollution amidst the growth scenario in BRICS economies.