The scope of the research is to analyze the relationship among CO2 emissions, aggregate income, energy consumption, and openness degree using a Panel Vector Auto-Regression (PVAR) methodology for a sample of nine industrialized countries, with a long-term perspective (1870–2008). The empirical results show the absence of a causal nexus between energy consumption and GDP, in favor of the “neutrality hypothesis.” Moreover, a strong bidirectional causal relationship is evidenced between CO2 emissions and energy consumption. Finally, a strong association between GDP and openness degree is detected, as a result of the globalization process.
Magazzino, C. (2023). Carbon neutrality and economic development. In M. Shahbaz, K. Dong, D. Balsalobre-Lorente, A. Gedikli (a cura di), Recent Developments in Green Finance, Green Growth and Carbon Neutrality. Elsevier [10.1016/B978-0-443-15936-7.00013-X].
Carbon neutrality and economic development
Magazzino, Cosimo
2023-01-01
Abstract
The scope of the research is to analyze the relationship among CO2 emissions, aggregate income, energy consumption, and openness degree using a Panel Vector Auto-Regression (PVAR) methodology for a sample of nine industrialized countries, with a long-term perspective (1870–2008). The empirical results show the absence of a causal nexus between energy consumption and GDP, in favor of the “neutrality hypothesis.” Moreover, a strong bidirectional causal relationship is evidenced between CO2 emissions and energy consumption. Finally, a strong association between GDP and openness degree is detected, as a result of the globalization process.I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.
