The Impact of Selected Macroeconomic Indicators on Environmental Degradation: BRICS-T Countries

The purpose of this study is to investigate the impact of various macroeconomic indicators on environmental degradation and explore the question of whether these indicators are an ecologi- cal solution or a crisis. In this perspective, the long-term effects of globalization, financial devel- opment, and economic growth on environmental degradation were examined with the common correlated effects estimator, based on the 1992–2018 data period for the BRICS-T countries (Brazil, Russia, India, China, South Africa and Turkey). The findings show that economic growth increases environmental degradation, while financial development and globalization do not have a statistically significant effect on environmental degradation.