Does Globalization Trigger an Ecological Footprint? A Time Series Analysis of Bangladesh

Abstract

Climate change has become a pitfall towards economic growth, sustainable development, and ecological balance, not different in Bangladesh. This study investigates the relationship between ecological footprint and globalization of Bangladesh in the 1980-2021. Results of Auto-regressive distributed lag mdel (ARDL) bound test confirms long-run relationship among carbon footprint, ecological footprint, globalization, and other control variables. Long-run and short elasticity confirm globalization, population density, energy consumption along political and economic globalization stimulates ecological footprint. On the other hand, economic growth is a culprit of ecological footprint. It reflects alternative signs with an ecological footprint. On carbon footprint, results are similar to ecological footprint except for energy consumption. As ecological footprint increases, people consume more energy in the short run while less energy in long run. Laws enforced in the last or previous decades regarding environmental issues need more strictness and acceptability to utilize energy through advanced technology and robust inflows from the foreign sector.