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The role of globalization in CO2 emissions: a semi-parametric panel data analysis for G7

The role of globalization in CO2 emissions: a semi-parametric panel data analysis for G7
The role of globalization in CO2 emissions: a semi-parametric panel data analysis for G7

In order to provide flexible and comprehensive results about the relationship between globalization and CO2 emissions for the G7 countries, we introduce the KOF globalization index into traditional Stochastic Impacts by Regression on Population, Affluence and Technology model, and conduct the empirical analysis by applying a semi-parametric panel fixed effects model. The data covering the period of 1970–2015 consists of CO2 emissions, KOF globalization index, renewable energy consumption and GDP. Our results indicate that the relationship between globalization and CO2 emissions are inverted U-sharped, which strongly support the Environmental Kuznets Curve hypothesis. Furthermore, an increase of economic output is associated with statistically significant growth in CO2 emissions. On the contrary, an increment of renewable energy consumption lowers CO2 emissions. Related policy proposals are then offered according to our empirical results.

CO emission, Environment Kuznets hypothesis, Globalization, Semi-parametric panel model
0048-9697
Liu, Mingming
140f399e-6ca8-46fb-99d3-6dd9b253ae2b
Ren, Xiaohang
970abdf4-ff20-4244-9952-f9ee910736ee
Cheng, Cheng
9d3214f3-3076-40bd-8d11-d0b9571cec48
Wang, Zhen
af8604e4-250c-4c42-93bf-37d791470816
Liu, Mingming
140f399e-6ca8-46fb-99d3-6dd9b253ae2b
Ren, Xiaohang
970abdf4-ff20-4244-9952-f9ee910736ee
Cheng, Cheng
9d3214f3-3076-40bd-8d11-d0b9571cec48
Wang, Zhen
af8604e4-250c-4c42-93bf-37d791470816

Liu, Mingming, Ren, Xiaohang, Cheng, Cheng and Wang, Zhen (2020) The role of globalization in CO2 emissions: a semi-parametric panel data analysis for G7. Science of the Total Environment, 718, [137379]. (doi:10.1016/j.scitotenv.2020.137379).

Record type: Article

Abstract

In order to provide flexible and comprehensive results about the relationship between globalization and CO2 emissions for the G7 countries, we introduce the KOF globalization index into traditional Stochastic Impacts by Regression on Population, Affluence and Technology model, and conduct the empirical analysis by applying a semi-parametric panel fixed effects model. The data covering the period of 1970–2015 consists of CO2 emissions, KOF globalization index, renewable energy consumption and GDP. Our results indicate that the relationship between globalization and CO2 emissions are inverted U-sharped, which strongly support the Environmental Kuznets Curve hypothesis. Furthermore, an increase of economic output is associated with statistically significant growth in CO2 emissions. On the contrary, an increment of renewable energy consumption lowers CO2 emissions. Related policy proposals are then offered according to our empirical results.

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The-role-of-globalization-in-CO2-emissions-A-semi-parametric-panel-data-analysis-for-G7 - Accepted Manuscript
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Accepted/In Press date: 15 February 2020
Published date: 20 May 2020
Keywords: CO emission, Environment Kuznets hypothesis, Globalization, Semi-parametric panel model

Identifiers

Local EPrints ID: 438961
URI: http://eprints.soton.ac.uk/id/eprint/438961
ISSN: 0048-9697
PURE UUID: f5b1a1d5-b46e-4b41-857f-9001787fac90

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Date deposited: 30 Mar 2020 16:30
Last modified: 26 Nov 2021 00:15

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Contributors

Author: Mingming Liu
Author: Xiaohang Ren
Author: Cheng Cheng
Author: Zhen Wang

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