Fossil fuel-dependency has induced a trade-off between economic growth and environmental degradation across the developing nations in particular. Against this backdrop, this study aims to evaluate the impacts of renewable energy use on the ecological footprints in the context of four South Asian fossil fuel-dependent nations: Bangladesh, India, Pakistan, and Sri Lanka. The econometric analysis involves the use of recently developed methods that account for cross-sectional dependency, slope heterogeneity, and structural break issues in the data. The results reveal that renewable energy consumption reduces the ecological footprints while nonrenewable energy use boosts the ecological footprints. The results also confirm the validity of the environmental Kuznets curve and pollution haven hypotheses for the panel of the South Asian nations. Besides, foreign direct investment inflows are found to degrade the environment while higher institutional quality improves it. Furthermore, unidirectional causalities are run from overall energy use, economic growth, and institutional quality to ecological footprints. At the same time, bidirectional associations between foreign direct investment inflows and ecological footprints are also ascertained. The overall findings highlight the pertinence of reducing fossil fuel-dependency, enhancing economic growth, restricting dirty foreign direct investment inflows, and improving institutional quality to ensure environmental sustainability across South Asia.

Across the globe, COVID-19 has disrupted the financial markets, making them more volatile. Thus, this paper examines the market volatility and asymmetric behavior of Bitcoin, EUR, S&P 500 index, Gold, Crude Oil, and Sugar during the COVID-19 pandemic. We applied the GARCH (1, 1), GJR-GARCH (1, 1), and EGARCH (1, 1) econometric models on the daily time series returns data ranging from 27 November 2018 to 15 June 2021. The empirical findings show a high level of volatility persistence in all the financial markets during the COVID-19 pandemic. Moreover, the Crude Oil and S&P 500 index shows significant positive asymmetric behavior during the pandemic. Apart from this, the results also reveal that EGARCH is the most appropriate model to capture the volatilities of the financial markets before the COVID-19 pandemic, whereas during the COVID-19 period and for the whole period, each GARCH family evenly models the volatile behavior of the six financial markets. This study provides financial investors and policymakers with useful insight into adopting effective strategies for constructing portfolios during crises in the future.

Sustainable tourism must maintain a high level of customer satisfaction, raise awareness of sustainability concerns, and spread sustainable tourism practices among them. Several earlier studies have measured sustainable tourism in various regions of the world, but a thorough review of it is rare. Thus, the study is founded on a comprehensive literature review to evaluate the current research level and to provide guidelines for future research on sustainable tourism. The paper’s first section clarifies and analyzes a broad overview of existing studies. While a tabulated presentation of studies, which consists of the author, significant objectives, methods, and critical results, is broadly given in the second part. The third part of the study highlights the critical analysis of the existing literature on sustainable tourism and research gaps. This study makes a significant positive contribution to sustainable tourism research. It is beneficial for aspiring researchers conducting subsequent research studies since it offers a research pathway to advance the field’s literature. The broad domains of sustainability, issues related to sustainable infrastructure and services, livelihood, and management of tourism destinations are the critical areas that scientific research studies could further explore. The results of this study show that most studies lack depth in proper analysis, methodology, geographical variances, empirical analysis, and real-world application.