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International business, environmental issues along with economic growth are the three of the most important aspects of development economics. One cannot deny the fact that a nation, in modern globalized world, cannot achieve high growth without getting into trade with rest of the world as well as without hurting the environment. Nations should not forget the fact that we are in the process of achieving Sustainable Development Goals which we have imposed upon ourselves for the sake of a safe world. BRICS nations are five such nations which not only account for more than 30% of the world's output but also have around 41% population. These features coupled with high growth rates of these nations make them the emerging economies with high chances to dominate the world economy in nearing decades. In this study, by the help of simultaneous equation model and panel data analysis, we have seen how far these three important issues are influenced by one another and related variables in these five nations. We have found that both gross domestic product (GDP) and trade-related variables have been influential upon one another. But these variables getting influenced by emission as well as influencing emission are areas of worries. Good economic growth coupled with safe environment in a globalized world is what we desire for which BRICS economies need to implement certain policies that would ensure their dominance in the world economy and save the environment.

Labor productivity always plays an important part in the growth of manufacturing sector of any nation, and certainly, in the growth of GDP as well. Now, the relationship between these three variables has been of interest to the researchers because few nations have experienced labor productivity–led economic growth, whereas for others it has been the other way round. In this chapter we have studied the relationship between labor productivity, manufacturing output, and growth of GDP, for 25 major economies across the globe, covering the period 2000–2015, with the help of simultaneous equation system for individual nations as well as panel data analysis, covering all the nations together. Study of this relationship has, hardly, been done before which is our prime motivation behind the study. Our findings suggest that in most of the nations, these variables have significant impact on one another but there are exceptions as well. Apart from that, there are variables like energy consumption, health status, life expectancy, foreign direct investment, etc., which are significant in influencing these variables. So, policy measure suggests that importance should be given not only on labor productivity or output of manufacturing sector but also on factors that can influence these variables.

The fight between two nations on each other’s exportable on the basis of tariff is known as tariff war. Although an economic policy, very ­often ­motivated by nationalism and politics, a nation imposes tariff on the ­exports of another nation which, in retaliation, again imposes tariff on the exports of its trading partner. The prime cause of such war is certainly to enhance employment opportunities in the home nation. But politics and nationalism provoke the opposite nation to follow the same policy. Effects of such tariff war, whether beneficial or harmful, are yet to be seen. In this context, we have adopted a general equilibrium model to illustrate the probable effect of the above-stated trade war in a structure consisting both H–O nugget and export sector dualism. The effect of imposition of tariff on multinational corporation (MNC) that has its own origin nation and production activities in other nation as well where it faces the war of tariff is considered. But it gets relief in the form of tax reduction in its origin nation. Under such a scenario, the study has shown the effect of tariff in the presence of full employment in the economy as well as in the presence of unemployment. It is seen that the MNC will continue its production procedure in both nations and enjoy profit, under some conditions. Further, in the presence of unemployment it is seen that if rate of tax on the MNC rises, unemployment may fall and welfare can increase under certain conditions.

Issues related to economic development and growth are oft discussed to illustrate the health of a nation. However, such development is constrained by the inequality parameter of the representative society. Again, economic fluctuations arising from several crises may hinder the representative nation from getting on a smooth path to development. Now, augmentation of crises along with the presence of inequality may trigger economic vulnerabilities, leading to unsustainable economic development. Against this backdrop, we initially frame a theoretical model to capture the above-mentioned issues and try to derive plausible economic interpretations for the same. To verify the same in a more robust manner, we consider a panel of 30 developing countries from Africa, spanning the time period 1980–2020. Both the health status and the education status of our panel of countries are used to explore the sustainability issue in the presence of income inequality. All data have been collected from the World Development Indicators (WDI) and Standardized World Income Inequality Database (SWIID) (Table 21.1

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The present chapter throws light on the famous and very important issue of using eco-friendly, pollution free technology, named as ‘green technology’ or ‘green capital’ by developing economies in the sphere of environmental economics by using general equilibrium framework and tries to examine its impact on different polluting and non-polluting sectors of the economy. The present chapter has done so by using the concepts of ‘regime change’ and ‘endogenised green capital’ – these are the unique features of this work. Here, the authors have come across interesting outcomes by encompassing trade liberalisation in the form of international green capital immobility and international green capital mobility and it leads to an expansion of the sector that utilises it.

UNESCO heritage Sundarbans is perhaps the largest island where people are solely dependent upon natural resources. Indian part of Sundarban covers around 4,263 sq. km. area and mostly situated in the district of South 24 Parganas of West Bengal. Here, people are mainly dependent on agriculture and fishing activities. Since forestry is reserved and people are allowed to collect the non-timber forest products only, the burden of livelihood earning comes on both fisheries and agricultural activities. The mechanization of agriculture and fishery, both of which are costly, have kept on swinging accordingly. People’s perception for the sustainable use cum development of these two resources, thus, becomes immensely crucial. Here, we have applied contingent valuation method to know about the people’s perception or willingness for saving these resources. The study is based on primary field survey conducted in late 2023 in two different parts of Sundarbans – both of which are dependent on both the resources. We find that people are more willing towards protection of fishery than the agricultural, probably because of its high market value and business opportunities than agricultural products. Again, climate change and frequent storms are more devastating on agricultural products than fishery. Such an analysis, in the era of climate change, is not only significant but also unique.