Non-linear nexus between CO2 emissions and economic growth: A comparison of OECD and B&R countries

Non-linear nexus between CO2 emissions and economic growth: A comparison of OECD and B&R countries

Recognizing the recent pace of globalization and greenhouse gas emissions growth, this study compares the dynamic nexus amid carbon emissions, trade, energy usage, urbanization and growh output over the period 1992–2015. For policy perspective, the observed sample of countries are grouped into two s...

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Bibliographic Details
Published in:Energy (Oxford) Vol. 212; p. 118637
Main Authors: Sun, Huaping, Samuel, Clottey Attuquaye, Kofi Amissah, Joshua Clifford, Taghizadeh-Hesary, Farhad, Mensah, Isaac Adjei
Format: Journal Article
Language:English
Published: Oxford Elsevier Ltd 01-12-2020
Elsevier BV
Subjects:
Belts
Carbon
Carbon dioxide
Carbon dioxide emissions
Economic development
Economic growth
EKC
Emissions
Energy consumption
Energy usage
Environmental Kuznets curve
Globalization
Greenhouse effect
Greenhouse gases
Panels
Pollution effects
Time series
Trade
Trade openness
Urbanization
Urbanization
Energy consumption
Carbon dioxide emissions
EKC
Economic growth
Trade openness
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Summary:Recognizing the recent pace of globalization and greenhouse gas emissions growth, this study compares the dynamic nexus amid carbon emissions, trade, energy usage, urbanization and growh output over the period 1992–2015. For policy perspective, the observed sample of countries are grouped into two sub-panels namely; Belt and Road (B&R), and Organization for Economic Co-operation and Development (OECD) countries. The panel unit root and cointegration outcomes show the evidence of stationarity and equilibrium relationship for all three panels in the long-term, respectively. The Environmental Kuznets Curve (EKC) assumption is confirmed in the three panels. Our outcomes from the Common Correlated Effect Mean Group (CCEMG) and Augmented Mean Group (AMG) methods consistently indicated that growth output has significant postive effect on evironmental pollution for all panels. The outcome further demonstrates that other factors such as trade openness, urbanization and energy usage have been responsible for the recent increase in carbon emissions globally. However, there are disparities per the estimated coefficients. The impact is greater within the OECD region than the Belt and Road region. The Granger non-causality estimates show the proof of a two-way causal relationship between output, energy usage, trade openness and urbanization on carbon emission for all three panels in the long-term. Efforts to promote a low-carbon and sustainable green environment therefore should jointly consider these factors during policy development. •The EKC assumption is confirmed in the three panels (Full sample, OECD, and B&R countries).•The impact of economic growth on environmental pollution is greater within the OECD region than the Belt and Road region.•The Granger non-causality estimates show proof of a two-way causal relationship for all three panels in the long-term.
ISSN:0360-5442
1873-6785
DOI:10.1016/j.energy.2020.118637