Assessing the Intensity of Economic Progress, Industrialization,Energy Use on Environmental Degradation

This study intensifies the interrelationship between environmental downfall, economic and industrial enhancement, renewable and non-renewable energy consumption in the period of 1997 to 2018 for the G-7 and selected five MENA countries. The paper intends to explore how renewable energy, fossil fuel, electricity generation, GDP, and industrialization affect the environmental pollution. For a dynamic panel data analysis, some statistical methods have been utilized, including Slope Homogeneity (SH), Cross Section Dependence (CSD), Cross-Section Im-Pesaran-Shin (CIPS), and Cross-Section Augmented Dickey-Fuller (CADF) of the second generation unit root tests, and the second generation (Westerlund-2007) CO-integration test, both Feasible Generalized Least Squares (FGLS), Panel-Corrected Standard Error (PCSE), and dynamic generalized method of moments (d-GMM) panel estimation approach have been applied. Feasible generalized least square…