The Grim Cost of Economic Growth and Environmental Degradation: A Comprehensive Panel ARDL Study of Public Debt in the ASEAN-5 Countries
This study uses panel ARDL analysis to investigate the connections between GDP growth, environmental degradation, and public debt in the ASEAN-5 countries (Malaysia, Thailand, the Philippines, Singapore, and Indonesia) from 1996 to 2021. It appears that economic development can increase public debt,...
Published in: | Sustainability (Switzerland) |
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Language: | English |
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Multidisciplinary Digital Publishing Institute (MDPI)
2023
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Online Access: | https://www.scopus.com/inward/record.uri?eid=2-s2.0-85166204110&doi=10.3390%2fsu151410756&partnerID=40&md5=d45dd5039bda37649ac5726d0a9d4f17 |
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2-s2.0-85166204110 Shaari M.S.; Masnan F.; Abd Rani M.J.; Zainal Abidin Z.; Ridzuan A.R.; Othman N. The Grim Cost of Economic Growth and Environmental Degradation: A Comprehensive Panel ARDL Study of Public Debt in the ASEAN-5 Countries 2023 Sustainability (Switzerland) 15 14 10.3390/su151410756 https://www.scopus.com/inward/record.uri?eid=2-s2.0-85166204110&doi=10.3390%2fsu151410756&partnerID=40&md5=d45dd5039bda37649ac5726d0a9d4f17 This study uses panel ARDL analysis to investigate the connections between GDP growth, environmental degradation, and public debt in the ASEAN-5 countries (Malaysia, Thailand, the Philippines, Singapore, and Indonesia) from 1996 to 2021. It appears that economic development can increase public debt, but investment can reduce public debt in the long run. Moreover, there is a positive correlation between savings and public debt, but only in the short run. These findings raise important considerations for policymakers in striking a balance between economic development, environmental sustainability, and public debt. This study also suggests that savings may positively affect public debt in Indonesia. In contrast, investment may raise debt in the short term in Malaysia, the Philippines, and Singapore. The possible effects of corruption on public debt in the Philippines and environmental damage in both that country and Thailand are also highlighted. Keeping public debt at a manageable level requires policies that balance economic development and environmental protection, as emphasized by this research. © 2023 by the authors. Multidisciplinary Digital Publishing Institute (MDPI) 20711050 English Article All Open Access; Gold Open Access |
author |
Shaari M.S.; Masnan F.; Abd Rani M.J.; Zainal Abidin Z.; Ridzuan A.R.; Othman N. |
spellingShingle |
Shaari M.S.; Masnan F.; Abd Rani M.J.; Zainal Abidin Z.; Ridzuan A.R.; Othman N. The Grim Cost of Economic Growth and Environmental Degradation: A Comprehensive Panel ARDL Study of Public Debt in the ASEAN-5 Countries |
author_facet |
Shaari M.S.; Masnan F.; Abd Rani M.J.; Zainal Abidin Z.; Ridzuan A.R.; Othman N. |
author_sort |
Shaari M.S.; Masnan F.; Abd Rani M.J.; Zainal Abidin Z.; Ridzuan A.R.; Othman N. |
title |
The Grim Cost of Economic Growth and Environmental Degradation: A Comprehensive Panel ARDL Study of Public Debt in the ASEAN-5 Countries |
title_short |
The Grim Cost of Economic Growth and Environmental Degradation: A Comprehensive Panel ARDL Study of Public Debt in the ASEAN-5 Countries |
title_full |
The Grim Cost of Economic Growth and Environmental Degradation: A Comprehensive Panel ARDL Study of Public Debt in the ASEAN-5 Countries |
title_fullStr |
The Grim Cost of Economic Growth and Environmental Degradation: A Comprehensive Panel ARDL Study of Public Debt in the ASEAN-5 Countries |
title_full_unstemmed |
The Grim Cost of Economic Growth and Environmental Degradation: A Comprehensive Panel ARDL Study of Public Debt in the ASEAN-5 Countries |
title_sort |
The Grim Cost of Economic Growth and Environmental Degradation: A Comprehensive Panel ARDL Study of Public Debt in the ASEAN-5 Countries |
publishDate |
2023 |
container_title |
Sustainability (Switzerland) |
container_volume |
15 |
container_issue |
14 |
doi_str_mv |
10.3390/su151410756 |
url |
https://www.scopus.com/inward/record.uri?eid=2-s2.0-85166204110&doi=10.3390%2fsu151410756&partnerID=40&md5=d45dd5039bda37649ac5726d0a9d4f17 |
description |
This study uses panel ARDL analysis to investigate the connections between GDP growth, environmental degradation, and public debt in the ASEAN-5 countries (Malaysia, Thailand, the Philippines, Singapore, and Indonesia) from 1996 to 2021. It appears that economic development can increase public debt, but investment can reduce public debt in the long run. Moreover, there is a positive correlation between savings and public debt, but only in the short run. These findings raise important considerations for policymakers in striking a balance between economic development, environmental sustainability, and public debt. This study also suggests that savings may positively affect public debt in Indonesia. In contrast, investment may raise debt in the short term in Malaysia, the Philippines, and Singapore. The possible effects of corruption on public debt in the Philippines and environmental damage in both that country and Thailand are also highlighted. Keeping public debt at a manageable level requires policies that balance economic development and environmental protection, as emphasized by this research. © 2023 by the authors. |
publisher |
Multidisciplinary Digital Publishing Institute (MDPI) |
issn |
20711050 |
language |
English |
format |
Article |
accesstype |
All Open Access; Gold Open Access |
record_format |
scopus |
collection |
Scopus |
_version_ |
1809677778259279872 |