Green economic growth in BRIC and CIVETS countries: The effects of trade openness and sustainable development goals

Md Abdul Halim; Syed Moudud-Ul-Huq

doi:10.1016/j.heliyon.2024.e30148

Green economic growth in BRIC and CIVETS countries: The effects of trade openness and sustainable development goals

Heliyon. 2024 Apr 24;10(9):e30148. doi: 10.1016/j.heliyon.2024.e30148. eCollection 2024 May 15.

Authors

Md Abdul Halim¹, Syed Moudud-Ul-Huq^{1

2}

Affiliations

¹ Department of Accounting, Mawlana Bhashani Science and Technology University, Santosh, Tangail, 1902, Bangladesh.
² Department of Finance, Performance and Marketing Teesside University International Business School (TUIBS), Teesside University, UK.

Abstract

This study aims to analyze the impact of trade openness and Sustainable Development Goals, Financial Development, and Technology on the economic growth of Brazil, Russia, India, China and Colombia, Indonesia, Vietnam, Egypt, Turkey, South Africa countries. The present analysis employs a balanced panel data set from 1996 to 2022. This study also uses various tests, such as the Johansen-Fisher cointegration and Granger causality test. The study's findings suggest that economic growth, trade openness, Sustainable Development Goals, financial development, inflation, technology, labor forces, and financial openness have a long-term relationship among them. In the long run, a positive relationship exists between economic growth, trade openness, and the sustainable development goals index in (BRIC) and (CIVETS) countries. Based on the heterogeneous panel non-causality tests, the findings demonstrate that trade openness and Sustainable Development Goals are a unidirectional causality between trade openness, Sustainable Development Goals, and economic growth.

Keywords: Economic growth; Granger causality test; Johansen–Fisher cointegration; SGDs index; Trade openness.