Economic growth and carbon emissions: evidence from CIVETS countries

Petrović-Ranđelović, Marija and Mitić, Petar and Zdravković, Aleksandar and Cvetanović, Dušan and Cvetanović, Slobodan (2020) Economic growth and carbon emissions: evidence from CIVETS countries. Applied economics, 52 (16). pp. 1806-1815. ISSN 0003-6846

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This paper examines whether a long-run relationship exists between CO2 emissions and selected variables: real gross domestic product per capita, inward stock of foreign direct investments, gross fixed capital formation, industry, value added and energy use per capita for Colombia, Indonesia, Viet Nam, Egypt, Turkey and South Africa countries in the period of 1989–2016. We used panel unit root testing, followed by panel cointegration tests and panel causality. The results clearly prove the existence of a bidirectional long-run causal relationship between all the variables except between CO2 emissions and GDP and CO2 emissions and GFCF. Major finding of the short-run causality analysis is that CO2 emission in the short run does not result in changes of other variables. On the other hand, all variables except foreign direct investments (FDI) cause the changes in the CO2 emissions, and there is a positive bidirectional causal relationship between GDP and FDI, between GFCF and FDI, and between GFCF and IVA. Finally, positive unidirectional causal relationship also exists, running from GDP to IVA, GDP to ENUSE, IVA to FDI and ENUSE to FDI.

Item Type: Article
Additional Information: COBISS.ID=512587106
Uncontrolled Keywords: CO2 emissions, economic growth, environmental degradation, cointegration, causality
Research Department: Sustainable Development
Depositing User: Jelena Banovic
Date Deposited: 26 Feb 2023 18:24
Last Modified: 19 Jun 2023 12:07

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