Dynamic linkages among energy consumption, environment, health and wealth in BRICS countries: Green growth key to sustainable development
The objective of the study is to examine the four pillars of green growth (or green environment) i.e. energy, environment, health and wealth in BRICS countries namely, Brazil, Russia, India, China, and South Africa, over the period of 1975 2013. The study examines the relationship between energy consumption, environment, health and its resulting impact on BRICS' economic growth. The study used three environmental variables (i.e. agricultural technology, carbon dioxide emissions and population density) three energy sources (i.e. nuclear energy consumption, electricity production from renewable sources and combustible renewable waste) two health proxies (i.e. fertility rate, total i.e. births per woman, and infant mortality rate) and GDP per capita for economic growth. These variables were selected due to the vital importance in the BRICS nations. The overall results indicate that environmental variables have a deleterious effect on the BRICS economic growth, while energy sources significantly increases economic growth in the countries. Health expenditures and infrastructure required proper care of fertility and mortality related health issues in the BRICS countries. The results emphasized the importance of green growth and sustainable developmental policies that help to expedite growth process and welfare of the countries.