Does Environmental Sustainability have any Impact on the Economic Development of a Country? A Case of Bangladesh
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Despite a number of studies on sustainability and economy having been performed earlier, it is still not definite how much influence the environment has on the economy of Bangladesh. Previous studies showed the influence of environmental degradation on the economic condition of Bangladesh, but not with the variables used in this existing research. This study has explored the impact of environmental sustainability on the economic development of Bangladesh between 1990 and 2020. Multiple regression analysis was performed in the study, in which the dependent variable was GDP, and the independent variables were natural resources rents, renewable internal freshwater, air pollution, and urbanization of Bangladesh. The study has contributed to realizing that there is a noteworthy connection between environmental sustainability and economic development. Regression analysis revealed that only natural resources rents have an insignificant impact on the economic advancement of Bangladesh, while other factors showed a significant impact. The findings of the study could be beneficial for policymakers, stakeholders, and other concerned authorities. The findings of the study could be beneficial for the concerned authorities to uphold ecological balance as well as the economic evolution of Bangladesh for future generations.
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