Abstract
Considering the green perspective of economic growth, researchers, policymakers, and environmental activists have shown their deep concerns in recent times. However, determining sustainable economic growth is not an independent phenomenon. Hence, this study examines the impact of natural resources, globalization, foreign direct investment, and environmental technologies on the green growth in BRICS countries during 1990–2020. Initial results confirm the presence of cross-sectional dependency and slope; therefore, we employ a cross-sectionally augmented autoregressive distributed lags (CS-ARDL) estimator. The empirical finding shows that globalization, environmental technologies, and human capital encourage green growth in the BRICS. In contrast, the inflow of foreign investment and dependency on natural resources reduces green growth. The results suggest that the government in BRICS should promote international association through economic, political, and social globalization along with green technology innovations to achieve sustainable economic growth. Policy suggestions are also provided to control the adverse effect of foreign investment and natural resources toward a green economic recovery.
•Green Economic Recovery is evaluated in BRICS Countries.•Natural resources dependency reduces the green growth.•Globalization, environmental technologies, and human capital encourage green growth.