South Korea economic growth, legal system and energy consumption

This study looked at the simultaneous changes in South Korea's GDP, rule of law, use of renewable energy, and petroleum exports between 1990 and 2022. These correlations were established by the study using Granger Causality, FMOLS, DOLS, CCR, and ARDL bounds test. The study's main contribution to the literature is its analysis of GDP, renewable consumption, rule of law and fuel exports-all of which have never been looked at in connection to South Korea's environmental impact. The study's time-series data showed unexpected patterns that these four variables revealed. With the possible exception of petroleum exports, which are noteworthy over time. The results showed that GDP is both positively and significantly increasing over the long term and short-run, pointing to a rise in ecological imprint. The usage of renewable energy sources and the rule of law, on the other hand, have a negative and significant correlation with ecological impact. Increased adherence to the law and the use of renewable energy sources mitigates South Korea's environmental impact.

Autorentext

Obadiah Ibrahim Damak holds a Ph.D. in Economics at Eastern Mediterranean University Northern Cyprus, via Mersin 10, Turkey, and serves as a lecturer at Plateau State University, Bokkos, Nigeria. Dr. Damak specializes in Microeconomics, Econometrics, and Energy and Environmental Economics.

Klappentext

This study looked at the simultaneous changes in South Korea's GDP, rule of law, use of renewable energy, and petroleum exports between 1990 and 2022. These correlations were established by the study using Granger Causality, FMOLS, DOLS, CCR, and ARDL bounds test. The study's main contribution to the literature is its analysis of GDP, renewable consumption, rule of law and fuel exports-all of which have never been looked at in connection to South Korea's environmental impact. The study's time-series data showed unexpected patterns that these four variables revealed. With the possible exception of petroleum exports, which are noteworthy over time. The results showed that GDP is both positively and significantly increasing over the long term and short-run, pointing to a rise in ecological imprint. The usage of renewable energy sources and the rule of law, on the other hand, have a negative and significant correlation with ecological impact. Increased adherence to the law and the use of renewable energy sources mitigates South Korea's environmental impact.