Offshoring the scarring causes and effects of environmental challenges faced by the advanced world: an empirical evidence.

In contemplating the prospects of advanced world countries, researchers stand divided among two groups: one group crying "melting of glaciers" and the group denying global warming as a significant concern while reaping the fruits of growth. One persistent concern for the other group is much desirable economic growth at the cost of environmental degradation, which is now reaching a scale where the global climate is become not only unsustainable but also causing a significant threat to our existence. In our opinion, environmental degradation should be taken very seriously now, particularly by pointing out the necessary variables causing it so that effective policy designs are formulated. The present study also gives a brief overview of the environmental repercussions with references to technology-led growth in developed countries. We have incorporated the direct composition effect captured by the capital-labor ratio (K/L), indicating that advanced countries use environmentally friendly technology for production processes. We propose that the most vulnerable impact of economic activities on environmental degradation (measured through carbon dioxide emissions) are urbanization, trade, and energy use. The latter is probably more policy-oriented, is undoubtedly more easily measured, and could be deeply analyzed for policy formulation. Whereas, in the urban areas, emissions of carbon dioxide particulate with an increase in population and development and serve as a significant concern for global environmental sustainability.

Is it an institution, digital or social inclusion that matters for inclusive growth? A panel data analysis.

This study empirically examines the impact of institutional quality, social inclusion and digital inclusion on inclusive growth across different economies characterized by different income groups. Particularly, the study examines the impact of institutions on inclusive growth by using the panel data for 83 countries over the period 2010-2017. For empirical specification, we used two-steps system-GMM estimation technique to tackle endogeneity and min-max normalized indexing technique to construct the indices for inclusive growth, social inclusion, digital inclusion and institutional quality. The results of this study show that there is a direct link between institutional quality and inclusive growth for a higher-income group of countries but not in the rest of the income groups. Contribution of social and digital inclusivity is significant in all three income groups, except for social inclusion in middle-income countries. From the policy point of view, these findings suggest that establishing and strengthening the institutional structure in low- and middle-income countries can contribute towards better and higher inclusive growth.