Globalization and Ecological Degradation
Sustainable Development in Pakistan
Keywords:Globalization, Ecological Sustainability, Economic Growth, Social Growth, Trade Openness, Poverty Eradication, CO2 Emission
Globalization started with having opportunities to utilize resource potential of nations. Therefore, the nation itself and the world could be favoured in a better way than before. Among the increasing threats due to global activities, one is the ecological degradation. It is the responsibility of the nation and the global institutions to set standards and laws to regulate the ecological harms. The present study here is an effort to examine the effects of globalization on ecological sustainability with respect to Pakistan's socio-economic development. To find the nature of relationship among the eco-sustainability, economic development, globalization and the social development. Vector Error Correction Model is applied using annual data from 1985 to 2021 available within Pakistan. The study finds significantly positive association among the financial integration, trade openness and economic development. While, the level of poverty (social development) is not significantly responded by globalization friendly measures. Finally, there is an evidence found in accordance with prior studies of increasing threat to ecological degradation due to increasing global activities. Thus, globalization entails mixed effects to sustainable development of Pakistan.
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