Sustainable Development in a Globalized World: Assessing Ecological Footprints through the Lens of Economic Globalization, Human Development and Carbon Emissions

Abstract

This thesis investigates the ecological footprint dynamics within the BRICS nations: Brazil, Russia, India, China, and South Africa, with a focus on sustainable development. Employing a comprehensive approach, historical trends of ecological footprints were assessed, revealing patterns influencing natural resource sustainability. Utilizing the Autoregressive Distributed Lag (ARDL) approach, the study established both short and long-term relationships among variables, providing valuable insights into the intricate and complex dynamics of sustainable development. The impact of Economic Globalization on the ecological footprint was analyzed, uncovering an unexpected short-term relationship. The examination of Human Development's role showcased its long-term significance in impacting the ecological footprint. Carbon Emission Contributions were quantified, emphasizing the critical role of carbon emissions in the ecological footprint within BRICS nations.. Challenges during data analysis, including the initial misalignment of panel data in Excel and time constraints, were acknowledged as limitations. The scarcity of relevant literature added complexity, but the research offers pioneering and valuable insights along with recommendations for the world to ponder upon. In conclusion, this study contributes to the discourse on sustainable development within BRICS nations, emphasizing the multifaceted interactions between the aforementioned variables.