Globalization’s Effect on Environmental Degradation in Regional Cooperation

This study sctrutinize the impact of defacto and dejure GLOB (as in explained in KOF GLOB index 2018) on Environmental degradation in EAGLE, BRICKS, European Unions & NEXT11 countries. The defacto GLOB indicate the estimate of GLOB include variables that represent flows and activities, de jure estimate includes variables that shows policies that represents, enable flows and activities. Whereas the environmental GLOB is measured by CO2 Emission. The results show that dejure economic and social GLOB has significant impact on environmental degradation in EAGLE, BRICKS, European Union & NEXT11 countries which indicates that the favorable trade & financial GLOB policies in these countries enabled more economic GLOB led to more industrialization which deteriorates the environment in these countries. Yet political defacto & dejure GLOB has no significant impact on countries within these regional Cooperation’s.