The Economic Growth and Environmental Kuznets Curve Hypothesis Evolution and Assessment, Causes and Prospective: A Review of Literature under a Critical Analysis
Mr. Mallikarjun Gdad and Mrs. Sunita Kademani
Research Scholar, Department of Economics, Kuvempu University, Jnanasahyadri Shankarghatta, Shivamogga, Karnataka, India, -577451. Email Id: mallikarjungadad87@gmail.com
Abstract:
Based on econometric estimates, recent research has shown an inverted-U link between environmental quality indices and income, known as an environmental Kuznets curve. This may affect economic and environmental policies. This paper examines this research as a whole and finds that unequivocal evidence for an environmental Kuznets curve relationship is very scant; that important indicators show a monotonically increasing relationship; and that even if there is a relationship, most of the world's population is still on the increasing section of the curve, so income growth based on this relationship would result in con In conclusion, the income—environment link is still problematic and requires deliberate environmental policy if future income increase is to be sustainable. If the environmental Kuznets curve is correct, economic growth in both developed and developing nations may prevent environmental issues, which are largely caused by economic development. Global environmental talks are biassed to follow the environmental Kuznets curve theory. Environmentalists say economic growth has done a lot of damage to the environment, especially with higher energy demand, but economists say it will solve these issues in the long run. Since the cause is the remedy, the link between environmental change and economic development has broken. The environmental Kuznets curve compares pollution indicators to per capita income. Economic expansion first causes environmental pollution, but as incomes rise, it improves the environment. Environmental economics examines water quality, air pollution, solid waste, global warming, and other environmental concerns' costs and benefits.
1.1. Key words: Environmental Kuznets Curve, Economic Growth, Economic Structure, Equation of EKC, Level of Environmental Degradation, Key Takeaways.
