Human development renewable energy and globalization as drivers of sustainable development in new BRICS economies
Abstract
This study examines the effects of economic growth, renewable energy consumption, globalization, and human development on the Sustainable Development Index in selected New BRICS countries, namely Brazil, Russia, India, China, Egypt, Ethiopia, Iran, the United Arab Emirates, Indonesia, Saudi Arabia, and South Africa, over the period 2000–2022. Methodologically, the study employs the PANIC Fourier unit root test developed by Nazlioglu et al., [53], the panel cointegration test proposed by Westerlund and Edgerton [96], and the Augmented Mean Group estimator. The empirical findings indicate that human development and renewable energy consumption have statistically significant and positive effects on the Sustainable Development Index. In contrast, globalization has a statistically significant and negative effect, suggesting that deeper global integration may generate sustainability-related vulnerabilities when not supported by inclusive institutions, resilient economic structures, and capability-enhancing policies. The findings highlight the importance of human-centered and sustainability-oriented development strategies in emerging economies. Rather than relying solely on economic growth, policymakers should prioritize investments in human development, renewable energy transition, and institutional mechanisms that can transform global integration into more inclusive and sustainable outcomes.