Biocapacity, human capital, and ecological footprint in G7 countries: the moderating role of urbanization and necessary
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ORIGINAL ARTICLE
Biocapacity, human capital, and ecological footprint in G7 countries: the moderating role of urbanization and necessary lessons for emerging economies Solomon P. Nathaniel1,2 1 2
Department of Economics, University of Lagos, Akoka, Nigeria School of Foundation, Lagos State University, Badagry, Nigeria
Received: 27 August 2020 / Revised: 9 October 2020 / Accepted: 10 October 2020 The Joint Center on Global Change and Earth System Science of the University of Maryland and Beijing Normal University 2020
Abstract Decreasing biocapacity, accompanied by increasing ecological footprint (EF) and urbanization, is the core environmental challenge that the G7 countries have to contend with, despite enjoying tremendous growth for decades. As such, this study scrutinizes the influence of biocapacity, human capital, and urbanization on the EF with an advance technique that addresses core panel data issues with the ability to show country-specific results. The findings suggest that biocapacity, economic growth, and urbanization increase the EF, while human capital reduces it. Also, the coefficient of the interaction between urbanization and economic growth turns out negative inferring that as economic growth persists, urbanization attains the desired level required to decrease the EF. Biocapacity increases the EF in all the countries except in Canada. Further findings showed that urbanization is not particularly harmful in Canada, Japan, and the UK; however, its impact remains devastating in the USA, Germany, Italy, and France. A feedback causality exists between human capital, EF, urbanization, and economic growth. Relevant policy recommendations, directions for future research, limitations of the study, as well as potential lessons for emerging economies, are discussed. Keywords Biocapacity Human capital Urbanization Moderating effect Ecological footprint AMG
& Solomon P. Nathaniel [email protected]
1 Introduction The G7 nations have attained significant progress as it relates to the achievement of the sustainable development goals (SDGs). However, they are still unable to escape from their incessant environmental problems like declining habitats, unsatisfactory waste treatment, and poor urban air quality. The G7 countries are developed. As of 2016, they contributed 39% of the world’s GDP and collectively emitted 10.891 billion tons of CO2 (World Bank 2019; Ari and S¸ entu¨rk 2020). All the G7 countries, except Canada, now harbour an ecological deficit territory (Global Footprint Network (GFN) 2019a). It is only when countries live within their means or collectively within the means of our planet, that development can be sustained and humanity can thrive (Galli et al. 2020; Nathaniel and Bekun 2020b). The mantra ‘‘One Planet’’ is far from being a goal, but more like the context that shapes our reality (Ward and Dubos 1972). Now, humanity demands have exceeded the planet’s limits (WWF 2018). It is, therefore, ideal to build a world where all thrive within the means of nature. Buildi
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