Abstract:

Population growth, urbanization, industrialization and technological developments have an important place in natural resource consumption. These developments are among the main dynamics in terms of economic growth in national economies. However, with the related developments, an increase in environmental degradation has been observed. Determining the cause of these deteriorations is considered to be important for increasing environmental quality and ensuring sustainable economic development. In the study, the determinants of ecological footprint in ASEAN-5 countries consisting of Malaysia, Thailand, Indonesia, Singapore and the Philippines are investigated. Westerlund (2006) panel cointegration test is used as an empirical method, which considers cross-sectional dependence. The period of 1980-2018, in which the globalization process generally deepened, is chosen as the sample period. General globalization index, economic growth, energy consumption and ecological footprint variables of ASEAN-5 countries are used. Empirical results reveal the existence of a cointegration relationship between these variables in ASEAN-5 countries. Augmented Mean Group (AMG) is applied as the panel cointegration coefficient estimator. AMG findings show that globalization, economic growth and energy consumption increase the ecological footprint of ASEAN-5 countries across the panel.

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