Towards Sustainable Growth Management: Analyzing the Consequences of Ecological Deterioration in Asian Countries on Energy Consumption, Economic Growth and Financial Progress

The paper examines complex relationship between energy consumption, economic growth, financial development, and environmental quality in 30 Asian countries from 2000 to 2022. The study utilizes panel data from a sample of Asian nations over the time period to investigate the dynamics and interdependencies among these variables. The research employs advanced econometric techniques such as the Pool Mean Group (PMG) estimator and panel unit root tests to analyze the data. The findings highlight the significant impact of energy consumption on environmental degradation and emphasize the need for sustainable energy solutions in the region. Economic growth and financial development are identified as influential factors in environmental deterioration, emphasizing the importance of balancing economic expansion with environmental sustainability. It also underscores the need for more effective environmental laws and regulations in the studied economies. The research provides valuable insights into the complex dynamics of energy, economy, finance, and the environment in Asian countries. The findings have suggestions for policymakers and stakeholders in promoting sustainable development and mitigating ecological deterioration in Asia.