The impact of globalization on ecological footprint: A comparative study between india and Vietnam

Abstract

Globalization has significantly impacted the economic relations among countries. Recently, different countries depend on one another to a certain extent. This transformation has affected industrialized and developing countries like India and Vietnam in numerous ways. The study closely examined globalization in terms of the ecological footprint in these two nations by looking at the impact of trade openness and economic development impact on the environment through ecological footprints. The study summarized previous research on the environmental effects of globalization. It employed the STIRPAT model to compare the correlation of decentralized globalization indexes and ecological footprint in both India and Vietnam. To establishglobalization's long-run and short-run impacts on the ecological footprint, this study utilized the ARDL bound testing approach in conjunction with econometric analysis. The results prove evidence that environmental pressure declines in the long run due to a higher level of globalization, stressing the significance of environmentalism and responsible policies. This research provides a background of the effects of globalization on the environment in developing economies and recommends that for the future progress of policy on globalization, there must be a mixture of economic growth and protection of the environment. Consequently, this research affirms that it is imperative to investigate globalization's environmental effects, particularly in developing countries like India and Vietnam. Within this context that this study seeks to unveil how trade openness and economic growth influence ecological footprint to enhance understanding of sustainable development and other policy measures. The subjects about which relevant to this study's findings can be of importance for policymakers, particularly regarding the directions that need to be adopted to attain a reasonable balance between economic development on the one hand and conservation of the environment on the other.