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, which is not different in Bangladesh. This study investigates the relationship between the ecological footprint and the globalisation of Bangladesh in 1980-2021. The auto-regressive distributed lag model (ARDL) bound test confirms the long-run relationship among carbon footprint, ecological footprint, globalisation, and other control variables. Long-run and short elasticity confirm that globalisation, population density, energy consumption, and political and economic globalisation stimulate 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 the long run. Laws enforced in the last or previous decades regarding environmental issues need more strictness and acceptability to utilise energy through advanced technology and robust inflows from the foreign sector.