Journal
JOURNAL OF INTERNATIONAL TRADE & ECONOMIC DEVELOPMENT
Volume 31, Issue 6, Pages 876-893Publisher
ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD
DOI: 10.1080/09638199.2022.2033303
Keywords
Economic globalisation; institutional quality; environmental degradation; ecological footprint; Ghana
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This paper examines the relationship between globalisation and the environment, suggesting that considering the role of institutions can greatly improve environmental sustainability models. By analyzing data from Ghana, the study finds that economic globalisation has a negative impact on environmental quality, while bureaucratic quality has a significant positive effect on ecological footprint.
Research on the relationship between globalisation and the environment tends to focus on the direct effect of globalisation, rarely considering the role of institutions. This paper introduces insights from political economy, which suggests that environmental sustainability models would be greatly improved if institutions are considered. We test this hypothesis by estimating the relationship between economic globalisation, bureaucratic quality, and ecological footprint in Ghana for the period 1984-2016. The long-run analysis is based on the autoregressive distributive lag (ARDL) bound testing approach to cointegration. The result supports the hypothesis that expansion in economic globalisation has a reducing effect on environmental quality. Bureaucratic quality appears to exert a significant positive effect on ecological footprint. Furthermore, the estimation shows that the quality of institutions is critical for environmental quality. Based on the results the paper presents some policy recommendations.
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