Globalization-Emissions Nexus: Testing the EKC Hypothesis in Next-11 Countries

This study investigates the association between globalization and carbon emissions for Next-11 (N-11) countries. In doing so, we apply bounds testing approach to examine cointegration between globalization and carbon dioxide (CO2) emissions. The results confirm the U-shaped association between globalization and carbon emissions for Bangladesh, Iran and South Korea. Contrarily, traditional approach validates an inverted U relationship between globalization and carbon emissions for Pakistan and South Korea, but U-shaped relationship exists for the Philippines and Vietnam. The presence or absence of an inverted U relationship between globalization and carbon emissions has important policy implications using globalization as an economic tool for sustainable economic development.