Energy consumption, economic policy uncertainty and carbon emissions; causality evidence from resource rich economies
Yükleniyor...
Tarih
2020
Dergi Başlığı
Dergi ISSN
Cilt Başlığı
Yayıncı
ELSEVIER, RADARWEG 29, 1043 NX AMSTERDAM, NETHERLANDS
Erişim Hakkı
info:eu-repo/semantics/openAccess
Attribution-NonCommercial-NoDerivs 3.0 United States
Attribution-NonCommercial-NoDerivs 3.0 United States
Özet
The study uses the World Uncertainty Index to analyze the long-run relationship of economic policy uncertainty and energy consumption for countries with high geopolitical risk over the period 1996–2017. The Kao test shows a cointegration association between energy consumption, economic growth, geopolitical risk, economic policy uncertainty, and carbon dioxide (CO2) emissions. The results based on the Panel Pooled Mean GroupAutoregressive Distributed lag model (PMG-ARDL) show that energy consumption and economic growth contribute to (CO2) emissions. Additionally, there is a significant association between economic uncertainty and CO2 emissions in the long-run. The panel causality analysis by Dumitrescu and Hurlin (2012) shows a bidirectional relationship between CO2 emissions and energy consumption, economic policy uncertainty and CO2 emissions, economic growth and CO2 emissions, but a unidirectional causality from CO2 emissions to geopolitical risks. The findings call for vital changes in energy policies to accommodate economic policy uncertainties and geopolitical risks.
Açıklama
Anahtar Kelimeler
Energy consumption, Carbon dioxide emissions, Geopolitical risk, Economic growth, Economic policy uncertainty
Kaynak
Economic Analysis and Policy
WoS Q Değeri
Q2
Scopus Q Değeri
Q1
Cilt
68
