Linking nuclear energy, human development and carbon emission in BRICS region: Do external debt and financial globalization protect the environment?
Nuclear energy has the potential to play an influential role in energy transition efforts than is now anticipated by many countries. Realizing sustainable human development and reducing global climate crises will become more difficult without significantly increasing nuclear power. This paper aims t...
| Main Authors: | , , , , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Elsevier
2022-09-01
|
| Series: | Nuclear Engineering and Technology |
| Subjects: | |
| Online Access: | http://www.sciencedirect.com/science/article/pii/S1738573322001644 |
| _version_ | 1817999791555084288 |
|---|---|
| author | Muhammad Sadiq Riazullah Shinwari Muhammad Usman Ilhan Ozturk Aktham Issa Maghyereh |
| author_facet | Muhammad Sadiq Riazullah Shinwari Muhammad Usman Ilhan Ozturk Aktham Issa Maghyereh |
| author_sort | Muhammad Sadiq |
| collection | DOAJ |
| description | Nuclear energy has the potential to play an influential role in energy transition efforts than is now anticipated by many countries. Realizing sustainable human development and reducing global climate crises will become more difficult without significantly increasing nuclear power. This paper aims to probe the role of nuclear energy, external debt, and financial globalization in sustaining human development and environmental conditions simultaneously in BRICS (Brazil, Russia, India, China, and South Africa) countries. This study applied a battery of second-generation estimation approaches over the period from 1990 to 2019. These methods are useful and robust to cross-countries dependencies, slope heterogeneity, parameters endogeneity, and serial correlation that are ignored in conventional approaches to generate more comprehensive and reliable estimates. The empirical findings indicate that nuclear energy and financial globalization contribute to human development, whereas external debt inhibits it. Similarly, financial globalization accelerates ecological deterioration, but nuclear energy and external debt promote environmental sustainability. Moreover, the study reveals bidirectional feedback causalities between human development, carbon emissions and nuclear energy consumption. The study offers useful policy guidance on accomplishing sustainable and inclusive development in BRICS countries. |
| first_indexed | 2024-04-14T03:13:46Z |
| format | Article |
| id | doaj.art-5c3d8c7e5e1c4409b2334d3179f080f6 |
| institution | Directory Open Access Journal |
| issn | 1738-5733 |
| language | English |
| last_indexed | 2024-04-14T03:13:46Z |
| publishDate | 2022-09-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Nuclear Engineering and Technology |
| spelling | doaj.art-5c3d8c7e5e1c4409b2334d3179f080f62022-12-22T02:15:32ZengElsevierNuclear Engineering and Technology1738-57332022-09-0154932993309Linking nuclear energy, human development and carbon emission in BRICS region: Do external debt and financial globalization protect the environment?Muhammad Sadiq0Riazullah Shinwari1Muhammad Usman2Ilhan Ozturk3Aktham Issa Maghyereh4School of Business, Central South University, Changsha, 410083, ChinaSchool of Business, Central South University, Changsha, 410083, ChinaInstitute for Region and Urban-Rural Development, and Center for Industrial Development and Regional Competitiveness, Wuhan University, Wuhan, 430072, China; Corresponding author. Institute for Region and Urban-Rural Development, and Center for Industrial Development and Regional Competitiveness, Wuhan University, Wuhan, 430072, China.Faculty of Economics and Administrative Sciences, Cag University, Mersin, Turkey; Department of Medical Research, China Medical University Hospital, China Medical University, Taichung, Taiwan; Corresponding author. Faculty of Economics and Administrative Sciences, Cag University, Mersin, Turkey.Department of Accounting and Finance, United Arab Emirates University, United Arab EmiratesNuclear energy has the potential to play an influential role in energy transition efforts than is now anticipated by many countries. Realizing sustainable human development and reducing global climate crises will become more difficult without significantly increasing nuclear power. This paper aims to probe the role of nuclear energy, external debt, and financial globalization in sustaining human development and environmental conditions simultaneously in BRICS (Brazil, Russia, India, China, and South Africa) countries. This study applied a battery of second-generation estimation approaches over the period from 1990 to 2019. These methods are useful and robust to cross-countries dependencies, slope heterogeneity, parameters endogeneity, and serial correlation that are ignored in conventional approaches to generate more comprehensive and reliable estimates. The empirical findings indicate that nuclear energy and financial globalization contribute to human development, whereas external debt inhibits it. Similarly, financial globalization accelerates ecological deterioration, but nuclear energy and external debt promote environmental sustainability. Moreover, the study reveals bidirectional feedback causalities between human development, carbon emissions and nuclear energy consumption. The study offers useful policy guidance on accomplishing sustainable and inclusive development in BRICS countries.http://www.sciencedirect.com/science/article/pii/S1738573322001644Nuclear energyCO2 emissionHuman developmentExternal debtFinancial globalizationBRICS region |
| spellingShingle | Muhammad Sadiq Riazullah Shinwari Muhammad Usman Ilhan Ozturk Aktham Issa Maghyereh Linking nuclear energy, human development and carbon emission in BRICS region: Do external debt and financial globalization protect the environment? Nuclear Engineering and Technology Nuclear energy CO2 emission Human development External debt Financial globalization BRICS region |
| title | Linking nuclear energy, human development and carbon emission in BRICS region: Do external debt and financial globalization protect the environment? |
| title_full | Linking nuclear energy, human development and carbon emission in BRICS region: Do external debt and financial globalization protect the environment? |
| title_fullStr | Linking nuclear energy, human development and carbon emission in BRICS region: Do external debt and financial globalization protect the environment? |
| title_full_unstemmed | Linking nuclear energy, human development and carbon emission in BRICS region: Do external debt and financial globalization protect the environment? |
| title_short | Linking nuclear energy, human development and carbon emission in BRICS region: Do external debt and financial globalization protect the environment? |
| title_sort | linking nuclear energy human development and carbon emission in brics region do external debt and financial globalization protect the environment |
| topic | Nuclear energy CO2 emission Human development External debt Financial globalization BRICS region |
| url | http://www.sciencedirect.com/science/article/pii/S1738573322001644 |
| work_keys_str_mv | AT muhammadsadiq linkingnuclearenergyhumandevelopmentandcarbonemissioninbricsregiondoexternaldebtandfinancialglobalizationprotecttheenvironment AT riazullahshinwari linkingnuclearenergyhumandevelopmentandcarbonemissioninbricsregiondoexternaldebtandfinancialglobalizationprotecttheenvironment AT muhammadusman linkingnuclearenergyhumandevelopmentandcarbonemissioninbricsregiondoexternaldebtandfinancialglobalizationprotecttheenvironment AT ilhanozturk linkingnuclearenergyhumandevelopmentandcarbonemissioninbricsregiondoexternaldebtandfinancialglobalizationprotecttheenvironment AT akthamissamaghyereh linkingnuclearenergyhumandevelopmentandcarbonemissioninbricsregiondoexternaldebtandfinancialglobalizationprotecttheenvironment |